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Afghan government spokesperson: All parties agreed to continue talks after the Istanbul meeting.A spokesperson for the Afghan government said that talks with Pakistan have concluded in Turkey after several days of mediation by Türkiye and Qatar.On October 31st, Commerzbank economist Joerg Kraemer noted in a research report that European Central Bank President Christine Lagarde signaled at her press conference that key interest rates would not be lowered in the coming months. Kraemer stated that Lagarde reiterated that current interest rates are in a "comfortable range," further reinforcing the case for maintaining interest rate stability. While acknowledging that economic risks have decreased due to trade compromises and the Middle East ceasefire, Lagarde avoided describing overall economic risks as tilted upwards. Kraemer stated, "We continue to expect the ECB to maintain the deposit rate at 2% at least until the end of next year."Market news: Ford Motor Company (FN) will invest $370 million in India.October 31st - According to sources familiar with the matter, Nvidia (NVDA.O) plans to invest up to $1 billion in artificial intelligence company Poolside, a deal that would quadruple the AI startups valuation. Poolside is in talks to raise $2 billion at a valuation of $12 billion (excluding amounts already raised). Sources say Nvidias initial investment in this round is $500 million, and could increase to $1 billion if the startup reaches its fundraising goals. Poolside reportedly already has over $1 billion in investment commitments, with approximately $700 million coming from existing investors. Magnetar, an asset management firm known for its hedge fund investments, is also reportedly in talks to participate in this funding round.

Hyundai Motor will develop South Korea's first EV-specific plant

Charlie Brooks

Jul 12, 2022 11:05



Hyundai Motor Co. plans to construct its first dedicated electric vehicle (EV) manufacturing facility in South Korea by 2025, according to the automaker's union, which cited the company's CEO.


Hyundai Motor Group, which consists of Hyundai Motor and Kia Corp, announced in May its aim to invest 48.07 billion dollars in South Korea between now and 2025.


Hyundai Motor was unable to quickly comment. According to a statement published by the union, the promise was made by the company during ongoing salary negotiations.


This month, unionized Hyundai Motor employees in South Korea voted for a potential strike for the first time in four years in reaction to management's emphasis on foreign investment and salary increases.


The announcement comes after South Korea's largest automaker said in May that it planned to invest $5.5 billion in Georgia to build complete EV and battery production facilities.


Hyundai Motor forecasts that construction on the EV facility in Georgia will begin in early 2023, with commercial production commencing in the first half of 2025.