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The government of India has approved a subsidy scheme for electric cars and hybrid cars for 1 billion 400 million dollars. According to Reuters, the decision was made by the Indian authorities to strengthen the fight against environmental pollution. In addition, this step will help reduce the country's dependence on fossil fuels. The government will provide subsidies only for the purchase of vehicles that use batteries developed on the basis of new technologies. The cost of such machines should be less than 1.5 million rupees. The authorities intend to spend 100 billion rupees on grants over the next 3 years. According to the plans of the Indian government, over the 5 years, the share of electric vehicles in the total sales in the country should reach 15%.
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
Samsung Electronics’ shares joined TSMC, its competitor, as both extended gains on Tuesday. This was mainly from upbeat expectations that Intel Corp’s plan of outsourcing more chip producers would favor the chipmakers. Shares of ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
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