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Major European and American stock index futures fell, with Nasdaq 100 futures down more than 1% and S&P 500 futures down 0.5%; Euro Stoxx 50 futures and German DAX futures fell 0.7% and UK FTSE futures fell 0.8%.On June 23, TA Securities analyst Shazma Juliana Abu Bakar stated in a report that the recent diesel subsidy reform in Malaysia is likely to have a negligible direct impact on inflation, as most eligible diesel users will continue to receive subsidized fuel, and logistics operators will also be protected. From July 1st, Malaysia will set diesel prices nationwide at market rates, allowing eligible citizens to purchase subsidized diesel at RM2.10 per liter. The analyst expects transportation costs and broader price pressures to remain manageable, noting that diesel accounts for only 0.2% of the Consumer Price Index (CPI). She added that the reform should help maintain household purchasing power, but its impact on overall consumption may be limited due to the relatively small beneficiary group. TA Securities maintains its 2026 inflation forecast for Malaysia at 2.1%-2.6% and GDP growth forecast at 4.3%-4.7%.Alibabas Hong Kong-listed shares (09988.HK) fell below HK$100, hitting a new low since April 2025, and are currently down more than 3%.The Hang Seng Tech Index fell by more than 2%, with MINIMAX-W (00100.HK) falling by more than 12% and Zhipu (02513.HK) falling by more than 9%.June 23 - Matthew Lynn, a financial columnist for The Daily Telegraph, stated that the US-Israeli military action against Iran was a perfect storm for the energy market, with experts vying to issue the most extreme oil price predictions. However, disaster did not occur. Oil prices did surge, but in real terms, they didnt even reach record highs. In 2008, oil prices reached $147 per barrel, equivalent to $224 today. Now, no one expects emergency measures to curb energy consumption, nor is anyone worried about interest rates soaring to 13% or unemployment skyrocketing. The era of what could be called a "long-term oil crisis," from 1973 to 2026, has ended. This will have three profound impacts. First, the importance of the Middle East will significantly decrease. Second, inflation will be contained. The US is likely to see prices remain almost unchanged year-on-year for the next decade or even longer. Third, and most importantly, the global economy will become more stable. The importance of oil as a commodity has been diminishing over the years. Of course, oil remains very important, but it will be much harder for it to dominate headlines again. Its era has passed, and the world will become more stable as a result.

Suzuki strengthens its foothold in India by establishing a global R&D center

Aria Thomas

Aug 29, 2022 10:54

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The president of Suzuki Motor Corp. announced on Sunday that the firm will establish a global research and development unit in India, boosting its presence in a country that is poised to become the Japanese automaker's electric vehicle (EV) center.


During a ceremony in Gandhinagar, western Gujarat state, Toshihiro Suzuki stated that the new firm, a wholly-owned subsidiary of Suzuki Japan, will enhance the automaker's R&D competitiveness and capabilities in India and other international markets.


"India has become one of Suzuki Group's most important markets," he said, adding that the company would continue to make substantial investments in the country.


Suzuki, which now manufactures internal combustion engine vehicles in India for its local affiliate Maruti Suzuki and for export, will start building electric vehicles at its Gujarat factory in 2025. In addition, it is establishing a separate facility in the state to manufacture batteries for electric vehicles beginning in 2026.


It is one of Suzuki's major investments in batteries and electric vehicles. 650 billion rupees have already been invested in the nation.


"India plays a crucial role as the global production hub for the Suzuki Group," Suzuki noted.


In addition, Suzuki has a joint venture with Japan's Denso Corp and Toshiba (OTC:TOSYY) Corp to produce lithium-ion batteries for hybrid vehicles for export and local use.


Suzuki owns the majority of Maruti, whose small, affordable vehicles dominate the Indian automobile market. However, the company faces increased competition as buyers shift to larger vehicles such as sport-utility vehicles (SUVs) and regulators need safer and more environmentally friendly automobiles, resulting in higher expenses.


India is also providing automakers with billions of dollars in incentives to produce more electric automobiles.


Prime Minister Narendra Modi of India remarked that EVs are launching "a stealth revolution in the country" and that his government is trying to enhance the demand and supply of these eco-friendly vehicles.


Sunday's ceremony highlighted Suzuki's 40-year partnership with Maruti. During his speech, he stated, "This silent revolution will result in massive transformations."


Modi laid the cornerstones for two major projects: an electric car battery production facility for Suzuki in Gujarat and an automobile manufacturing facility for Maruti in the northern Indian state of Haryana.


Maruti regards electrification as a challenge since it wants New Delhi to reward all cleaner technologies, including as hybrid and ethanol, and not only EVs, which it does not expect to launch until 2025.

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