Economy
VW to invest $5 bn in EV maker Rivian, establishing joint venture
German auto giant Volkswagen will invest $5 billion in US electric vehicle maker Rivian and create a joint venture expected to produce technology used by both automakers, the companies announced Tuesday.
German giant Siemens to revive historic base in Berlin
German industrial giant Siemens on Tuesday launched an urban development project worth 4.5 billion euros ($4.8 billion) in the area of Berlin known as Siemensstadt, where the company enjoyed its pre-war heyday. The development embodies "the future of Berlin and German industry", he said.
Indians march to end 'slavery' after worker death shakes Italy
Thousands of Indian farm labourers urged an end to "slavery" in Italy on Tuesday after the gruesome death of a worker shone a light on the brutal exploitation of undocumented migrants. There is exploitation every day, we suffer it every day, it must end now," said Gurmukh Singh, head of the Indian community in the Lazio region of central Italy.
Lufthansa to add environmental charge to fares
German airline giant Lufthansa said Tuesday it would add an environmental charge of up to 72 euros ($77) to fares in Europe to cover the cost of increasing EU climate regulations. It will apply to flights from January next year and, depending on the route and fare, will vary from one to 72 euros.
EU accuses Microsoft of abusing dominant position with Teams
Microsoft violated EU antitrust rules by bundling its Teams communications app with its popular Office suite, Brussels said on Tuesday, as the US tech giant vowed to do what it takes to address competition concerns.
CBN Leaves Customs FX rate for cargo clearance unchanged for 3 weeks as naira nears N1,500/dollar
The Central Bank of Nigeria has not changed foreign exchange for import duty in the last three weeks following the relative stability of naira against dollar.
“Bad for naira”: CBN reportedly ends forex sales to BDC operators as naira falls against dollar
The Central Bank of Nigeria has reportedly begun testing its reform templates by ending forex sales to Bureau de Change operators to boost liquidity in the market.
Chinese seizes two Nigerian govt properties in UK following court order, targets more in 4 countries
A Chinese investor is set to take over two Nigerian properties in the United Kingdom after securing a $70 million investment treaty award against Nigeria.
Economy
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