Shell opens world’s largest EV charging station in China
Shell has opened the world’s largest electric vehicle (EV) charging station in Shenzhen, China. The station, located next to Shenzhen Airport, has 258 charging points and solar panels that can generate 300,000 kilowatt-hours of renewable electricity per year.
The station is a joint venture between Shell and Chinese EV giant BYD. Shell currently operates around 800 EV charging stations in China through joint ventures or wholly-owned subsidiaries.
The opening of the new station is part of Shell’s commitment to meet the growing demand for EV charging in China. The company aims to have over 50,000 EV charging points in operation globally by 2025.
- 21 Sep
Chipmaker Kokusai Electric to list on Tokyo Stock Exchange on Oct. 25
Kokusai Electric, a chipmaking equipment maker, plans to list on the Tokyo Stock Exchange on October 25 in what is expected to be the largest IPO in Japan in five years. The company, which was spun off from Hitachi in 2018 and is now owned by the private equity firm KKR, has set a tentative IPO price of 1,890 yen per share and is expected to raise around 210 billion yen ($1.4 billion) in the IPO. A successful IPO for Kokusai Electric could lead to a wave of new listings in Japan and boost the market's appetite for chipmaking stocks. However, investors should be aware of the risks associated with investing in IPOs.
- 18 Sep
Taiwanese Military Detects Record Number of Chinese Warplanes
Taiwan detected a record number of Chinese warplanes around the island in one day, with 40 crossing the median line of the Taiwan Strait. The Taiwanese military condemned China's "continued military harassment" and warned that it could lead to a sharp spike in tension and worsen regional security. The United States has been increasing its military presence in the region in a bid to deter China from taking any aggressive action against Taiwan.
- 18 Sep
Indian-American Presidential Candidate Vivek Ramaswamy Refutes Age Criticism
Vivek Ramaswamy, a 38-year-old Indian-American candidate for President of the United States, has refuted criticism that he is too young for the office. He pointed out that Thomas Jefferson was only 33 years old when he wrote the Declaration of Independence, and argued that the United States needs a leader who is "not afraid to revive the country's founding principles." Ramaswamy is facing an uphill battle in the Republican primary, but he is hoping that his message will resonate with voters.
- 16 Sep
Pakistan: Petrol, HSD Prices Reach Historic Highs
Pakistan's caretaker government has hiked petrol and diesel prices to over Rs 330 per litre, the highest ever in the country's history. The move comes as the country struggles with double-digit inflation and is under pressure from the IMF to raise taxes and reduce subsidies. The hike will put an unbearable burden on the masses and make it difficult for many people to make ends meet.
- 16 Sep
US Stocks Close Sharply Lower on Plunging Chip Stocks, Mixed Data
US stocks closed sharply lower on Friday, August 18, 2023, as plunging chip stocks and mixed economic data dampened investors' risk appetite. The S&P 500 and the Nasdaq reversed their weekly advances, while the blue-chip Dow ended the week nominally higher. Investors are concerned about a potential slowdown in the global semiconductor industry and elevated inflation. The Fed's policy meeting next week will be a key event for investors.