Economy
Saudi Aramco halts plan to raise production capacity: statement
Saudi Arabia has ordered energy giant Aramco to maintain its oil production capacity at 12 million barrels per day, abandoning a planned increase, the firm said on Tuesday.
Toyota sets new global record for annual vehicle sales
Japan's Toyota said Tuesday that it sold a record 11.2 million vehicles in 2023, cementing its position as the world's top-selling automaker for the fourth successive year thanks to a recovery in demand in all regions and easing semiconductor shortages. Toyota on Tuesday credited for its performance "solid demand in each region, in addition to easing semiconductor shortages in each region."
New post-Brexit customs checks spark UK border worries
The UK will finally roll out post-Brexit border checks Wednesday on food, plant and animal products imported from the European Union, fanning fears of more price hikes, empty shelves and even Valentine's Day flower shortages. From Wednesday, companies must present certificates for sanitary and phytosanitary imports at the UK border.
Sotheby's sales drop in 2023 after record year
Storied auction house Sotheby's reported on Monday that sales had dipped last year to $7.9 billion, down $100 million from the record-breaking 2022 which was lifted by pent-up demand following the pandemic.
Renault slams brakes on listing of Ampere EV division
French automaker Renault said Monday that it was halting the initial public offering of its EV unit Ampere, saying market conditions were unfavourable to list the company's shares. Ampere launched in November 2023 and plans were to list the unit's shares on the stock exchange in the first half of 2024 at an estimated valuation of eight to 10 billion euros, or as much as Renault.
Fixing food could produce trillions in annual benefits: report
The ways food is produced and consumed across the world is racking up hidden costs in health impacts and environmental damage amounting to some 12 percent of world GDP a year, according to a new report Monday.
Naira depreciation: Expert demands reforms, framework to tackle FX abuse
A financial expert has provided a solution for the naira's appreciation, stating that the Nigerian government should put in place some framework and regulations
Historic German store KaDeWe files for insolvency
Iconic Berlin department store KaDeWe said Monday it had filed for insolvency, as rising rental prices in Germany left it struggling to stay afloat. Its iconic status has seen it become the subject of a television series in Germany, which dramatised the lives of employees at the up-market department store.
Buried in massive debt, Italy puts crown jewels up for sale
Prime Minister Giorgia Meloni once declared Italy's postal service a "crown jewel" that must stay in state hands, but she is now selling a stake as part of a privatisation programme to tackle a huge public debt. Nevertheless, the decision to sell a stake in the postal service to foreign investors marks a shift from a statement she made in 2018, four years before becoming prime minister.
Economy
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