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Volkswagen’s PowerCo to establish a battery gigafactory in Ontario, Canada

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Germany-based Volkswagen will build its first overseas battery cell plant in St Thomas, Ontario, Canada. It will establish the new facility through its battery subsidiary PowerCo. The plant will begin to produce sustainable unified cells from 2027. It will likely be a $1bn-plus investment, creating thousands of jobs. The announcement comes shortly after Volkswagen announced a new plant for its […]

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Daring to Dream 

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Representation image (File photo) During the first week of March, Chairman of the Taiwan based Foxconn ~ manufacturer of Apple products like iPhones ~ met the Chief Ministers of Karnataka and Telangana. Both Chief Ministers afterwards claimed that Foxconn will make huge investments in their states that will create one lakh direct and indirect jobs

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FDI round-up: Volkswagen’s Canadian gigafactory, UK pushes quantum computing, Ayala backs Indian renewables

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Top story: Volkswagen is building its first overseas gigafactory in Canada to support its North American electric-vehicle push. Image via Getty Images Danielle MylesMarch 14, 2023 Volkswagen has chosen Canada for its first gigafactory overseas and laid out plans for a €180bn four-year investment plan. On March 13, the German automaker said its battery company PowerCo would

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Linkages like PayNow-UPI have great potential to help rupee: Jamal Mecklai

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In a Q&A, the CEO of Mecklai Financial Services dwells on issues such as rupee internationisation, stronger FDI flows and RBI’s role in keeping the Indian currency stable Jamal Mecklai, CEO, Mecklai Financial Services Last year, the RBI took certain steps to further internationalise the rupee, but Jamal Mecklai, CEO, Mecklai Financial Services tells Bhaskar Dutta in an

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VIETNAM BUSINESS NEWS MARCH 13/2023

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The list of visa-exempt countries should be further expanded so that tourism can quickly recover and improve competitiveness, tourism industry insiders and experts have said. Vietnam’s restrictive visa policy has impacted international tourist flows to the country, said Luong Hoai Nam, a member of the Vietnam Tourism Advisory Board. Vietnam should expand the list of visa-exempt countries to

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Economic rebound prompts investment, new goals for foreign multinationals

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Post-COVID growth The strong commitment to the Chinese market follows the country’s emphasis on post-COVID-19 economic recovery, with a GDP growth target set at about 5 percent for this year. According to the Government Work Report, submitted to the National People’s Congress for deliberation earlier this month, China will focus on intensified and more targeted

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Policy overhaul needed to regain FDI glory

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Monday, March 13th, 2023 at Economy | News Malaysia must identify unique investment proposition to attract investors, improve reputation and become a more welcoming place for foreigners by S BIRRUNTHA MALAYSIA raised the eyebrows of its regional peers when American companies Tesla Inc and Amazon Web Services announced large-scale investments in the past weeks, with the country’s ability to

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Economy Minister highlights “historic high” $2bln FDI reached in 2022

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Agenda.ge, 13 Mar 2023 – 17:55, Tbilisi,Georgia Georgian Economy Minister Levan Davitashvili on Monday said foreign direct investments in the country had exceeded $2 billion in 2022, setting a “historic high” mark. The Ministry cited Davitashvili with noting the main source of the 2022 FDI figures had come from European Union member countries. Almost half

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