Seoul, March 7 (IANS) SK On, a major South Korean battery manufacturer, has laid off nearly 1,000 workers at its US battery plant in Georgia amid slowing electric vehicle (EV) demand, a company filing showed on Saturday.SK Battery America, SK On’s US unit, dismissed 968 employees at its battery manufacturing facility in Commerce, Georgia, according to a Worker Adjustment and Retraining Notification (WARN) notice posted on a Georgia state website.The layoffs reportedly account for about 37 per ce…
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New Delhi, Jan 26 (IANS) Negotiations for the long-awaited India-European Union Free Trade Agreement (FTA) have been successfully concluded, and the deal will be officially announced on Tuesday, Commerce Secretary Rajesh Agrawal said on Monday. Describing the agreement as balanced and forward-looking, Agrawal noted that it would strengthen economic integration between India and the EU and significantly boost trade and investment flows.The FTA is expected to come into force sometime next year aft…
New Delhi, Jan 26 (IANS) India is preparing to sharply cut import duties on cars from the European Union as part of a long-pending free trade agreement, which could be announced as early as Tuesday, according to reports.Under the proposed deal, India plans to bring down peak import tariffs on EU-made cars to 40 per cent from the current levels of up to 110 per cent.This would be the biggest opening so far of India’s tightly protected automobile market.Initially, the lower duty will apply to a …
New Delhi, Jan 15 (IANS) Europe’s legal and political conflict with China over control of chipmaker Nexperia has disrupted cooperation between raised longer-term questions about stability within global supply chains, a report said on Thursday.The report from Investment Monitor said the conflict between Nexperia’s Holland‑based company and a key manufacturing site in China’s Guangdong halted production at multiple car manufacturing plants.“As countries jockey for control over different stages…
New Delhi, Jan 10 (IANS) The European Union (EU), beyond tariffs and sanctions, set to continue on its trajectory of diversifying its trading relationships away from China and sharpening its trade defence armoury, developed with China in mind, but Beijing “doesn’t seem much to care”, according to a new report.According to a report in Politico, the EU-China trade relations are “at a standstill”, as German Chancellor Friedrich Merz is likely making his first visit to China next month.“…