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On March 14, finance ministers from Japan and South Korea met in Tokyo on Saturday and expressed shared concern over the rapid depreciation of their currencies. A joint statement adopted at the meeting expressed serious concern about the recent sharp depreciation of the Korean won and the Japanese yen. The statement also noted that Japan and South Korea reaffirmed their commitment to closely monitoring the foreign exchange market and continuing to take appropriate action against excessive and disorderly exchange rate fluctuations. Furthermore, it emphasized the importance of close cooperation between Japan and South Korea to ensure stable energy supplies against the backdrop of escalating tensions in the Middle East (such as Irans blockade of the Strait of Hormuz, a major oil shipping route).According to Irans Tasnim News Agency, the Iranian ambassador to India stated that Iran has allowed Indian ships to pass through the Strait of Hormuz.Tanker tracking website: Following yesterdays US airstrike on Kharg Island, all oil storage tanks appear to be intact. Today, two Iranian oil tankers have begun loading 2.7 million barrels of crude oil onto Kharg Island.The Israeli military stated that half of the missiles launched by Iran into Israel during this war would drop a large number of small explosive devices over their targets, thereby increasing the potential damage and casualties.On March 14, local time, the Indian Ministry of External Affairs announced that Iran had arranged a special plane to repatriate some Iranian citizens stranded in India from Cochin on the evening of March 13. This included some personnel from the Iranian warship "Ravan," which had been granted permission to dock at Cochin port. Additionally, some Iranian citizens visiting India as tourists and some Iranian diplomats stationed in India also returned on the same flight. With the approval of the Indian government, the Iranian warship "Ravan" arrived at Cochin port on March 4, and its 183 crew members were initially housed in local naval facilities.

Tesla drops Model 3, Model Y base prices by up to 9% in China

Aria Thomas

Oct 24, 2022 14:08

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According to advertisements on the company's Chinese website on Monday, Tesla (NASDAQ:TSLA) has dropped the beginning costs of its Model 3 and Model Y vehicles in China by as much as 9 percent.


The base price of the Model 3 car was dropped from 279,900 yuan to 265,900 yuan ($36,727.03), while the base price of the Model Y SUV was reduced from 316,900 yuan to 288,900 yuan.


According to Reuters, Tesla has been modifying prices in accordance with expenses. It was reported that capacity utilization at its Shanghai Gigafactory has increased, but the supply chain has remained consistent, leading in lower costs.


This is Tesla's first price cut in China in 2022; earlier in the year, the company raised prices on two models due to rising raw material costs. In September, Tesla began giving insurance benefits to consumers in an effort to encourage future purchases.


Reuters previously reported that Tesla has modernized its Shanghai factory to produce 22,000 Model 3 and Model Y vehicles each week.


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