Tesla delivers first China-made Model 3 sedans

Shanghai: Tesla has started delivering Model 3 electric cars built at its Shanghai factory in just under a year since it began work on the $2 billion plant, a record for global automakers in China, and said it would ramp up deliveries from next month. The US electric vehicle maker marked the start with an […]

How India’s economy came back down to earth

Mumbai: India’s economy lost its sheen this year. As it stumbles through a deep slowdown and a credit crisis, the country has gone from being hailed as a colossus-in-waiting to placing among the also-rans. Rarely has a major economy had such a humbling turn in fortunes. In the third quarter, gross domestic product rose 4.5% […]

Pakistan confident of beating IMF’s inflation projection

Islamabad: Pakistan’s Finance Ministry has announced that decisive policy implementation has started to address deep-seated problems of economy and reverse its large imbalances, preserving financial stability. In a statement issued on Sunday, the Ministry said the International Monetary Fund (IMF) in its first review of Pakistan’s economic performance had acknowledged that the government reforms programme […]

Turkey tweaks rules for banks in bid to boost official reserves

Istanbul: The Turkish central bank raised reserve requirement ratios for foreign currency deposits and participation funds by 200 basis points in a step that will mop up foreign currency liquidity from the market. Reserve requirement ratios for foreign currency deposits at notice, with no fixed term and for maturities ranging from one month to a […]