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On May 16th, according to an official notice, the Indian government has implemented new restrictions on silver imports, changing several categories of silver products from a free import policy to a restricted import policy. Under the revised regulations, the import of silver bars, unwrought silver, and semi-finished silver (including silver powder) now requires government approval. Certain categories of silver imports are also subject to regulations from the Reserve Bank of India. These changes are introduced through revisions to the import policy catalog under the Harmonized System of Trade (HS) of India. This move comes as the Indian government intensifies its efforts to tighten regulations on precious metal imports and control rising import bills. Previously, the Indian central government had increased import duties on gold and silver from 6% to 15%. Simultaneously, the Directorate General of Foreign Trade (DGFT) has tightened regulations regarding the duty-free import of gold by jewelry and gemstone exporters under the "pre-authorization" scheme.On May 16, according to a report by the Islamic Republic of Iran Broadcasting (IRNA), a fire broke out at an oil factory in the northwestern Iranian city of Maragay at around 10:00 AM. The Iranian Red Crescent website reported that IRNA official Mohammad Hossein Kabadi stated that the organizations rescue personnel immediately rushed to the scene after receiving the fire report to conduct search and rescue operations. As of now, the fire has injured at least 10 people, and the rescue operation is still ongoing.Teslas US website shows that the price of the Model Y Performance All-Wheel Drive version in the US has been increased from $57,490 to $57,990.Teslas US website shows that the price of the Model Y Long Range Rear-Wheel Drive version in the US has been increased from $44,990 to $45,990.Teslas US website shows that the price of the Model Y Long Range All-Wheel Drive version in the US has been increased from $48,990 to $49,990.

Italian Brake Maker Brembo Plans to Expand in northern Mexico

Charlie Brooks

Dec 16, 2022 10:52

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Italian luxury brakes manufacturer Brembo, which supplies Tesla (NASDAQ:TSLA), Ferrari (NYSE:RACE), and other automakers, wants to expand one of its operations in the northern Mexican state of Nuevo Leon, government officials announced Thursday.


Since 2015, the firm has been operating in the Texas-bordering state of Nuevo Leon, where it employs 1,150 individuals at its Escobedo location, according to a statement from the governor's office.


According to a source familiar with the subject, Brembo now intends to increase the capacity of this facility, with a target opening date of the second quarter of 2023. The corporation also has a satellite facility in Apodaca, a neighboring city.


"What they are doing with brakes and new digital braking systems is remarkable," said Nuevo Leon Governor Samuel Garcia during an event with Brembo officials in Italy, during a trip during which he visited with executives from many auto firms and spoke with the Pope.


Brembo failed to reply promptly to a request for comment.


Elon Musk, the chief executive officer of Tesla, visited Nuevo Leon in October, and Reuters has been told by sources that the business is contemplating investing there.


Milenio, a Mexican news network, said this week that Tesla might reveal its intentions at the beginning of 2023. A request for comment was not met with a quick response from Tesla.


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