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BYD has reported impressive growth for 2024, surpassing Tesla in revenue. The company earned 777.1 billion yuan ($107.2 billion), significantly higher than Tesla's previously reported revenue of $97.7 billion. BYD also posted a net profit of 40.3 billion yuan, a 34% increase from 2023, marking a record high. In January, the company revealed that it sold nearly 4.3 million vehicles last year, a 40% increase over the previous year. The Chinese company’s strong results come at a time when Tesla is struggling, with a 71% drop in net income for the fourth quarter of 2024. Tesla's profits fell to $2.32 billion, down from $7.93 billion, as reported by CNBC in late January.

As competition grows, and ahead of the launch of its new Model Y mid-size SUV, Elon Musk's battery-electric (BEV) brand has sold 42.6% fewer cars in Europe so far this year, data from the European Automobile Manufacturers Association (ACEA) showed. Tesla commanded 1.8% of the total market and 10.3% of the BEV market in February, down from 2.8% and 21.6% last year respectively. It sold fewer than 17,000 cars in the European Union, Britain and European Free Trade Association countries, compared to over 28,000 in the same month in 2024. Tesla currently faces a number of challenges in Europe. The EV maker has a smaller, ageing lineup while traditional automaker rivals and new Chinese entrants alike continue to launch new, often cheaper electric models.

assets, making it easier to send money across borders and drive decentralized finance (DeFi). But their quick rise has caught the eye of regulators, who want to cut down on possible risks to financial stability. Regulators worldwide are increasingly focused on several key aspects of stablecoin regulation, including liquidity, reserves, transparency, and measures to stop illegal activities. The European Union has made big moves in this area. They've put in place the Markets in Crypto-Assets (MiCA) rules. These rules set up thorough standards for EU countries to follow. This plan has strict reserve requirements rules and limits on big transactions for major issuers. It could serve as a model for other jurisdictions that want to create their own rules.

Narendra Modi with American researcher and podcaster Lex Fridman is available now in more than 10 languages, the Prime Minister said on Sunday, while encouraging people to give it a listen. «The recent podcast with Lex Fridman is now available in multiple languages! This aims to make the conversation accessible to a wider audience. Do hear it,» read a post by PM Modi as he shared the link to the translations. The translations have been posted by public broadcaster Doordarshan in their multiple regional language channels. The episode is now available in Gujarati, Telegu, Punjabi, Bengali, Kannada, Marathi, Assamese, Odia, Tamil and Malayalam.

Trump administration, triggering macro-economic uncertainties and fears of a potential recession. “Demand uncertainties from the second half of calendar year 2024 (2HCY24) have trickled into calendar year 2025 estimated (CY2025E) budgets, implying continued weakness in financial year 2026 estimated (FY2026E),” Kotak Institutional Equities said in a report on the IT sector. The IT services industry clocked the healthiest earnings rebound in six quarters in the October-to-December period backed by a modest uplift in business led by the key banking, financial services and insurance (BFSI) vertical. This had raised hopes of a likely boost in revenue growth from the low to high single digits in 2025 at top-tier firms such as Tata Consultancy Services (TCS), Infosys and HCLTech.

Ravneet Singh Bittu on Saturday said the Ministry of Food Processing Industries will provide financial support for the establishment of 100 new NABL-accredited food testing laboratories across India in the 2025-26 financial year. Bittu, who inaugurated a food testing laboratory at Maharaja Ranjit Singh Punjab Technical University in Bathinda district, highlighted the critical role of food testing in ensuring food safety. «Food testing is vital for ensuring that food products meet safety standards and are free from harmful contaminants and pathogens,» Bittu said in a statement. The initiative is part of the government's broader plan under the Pradhan Mantri Kisan Sampada Yojana (PMKSY), which has allocated Rs 503.47 crore for 205 laboratory projects. Of these, 169 projects have already been completed, with Rs 349.21 crore disbursed. These labs play a crucial role in meeting the requirements of major regulatory bodies such as the Food Safety and Standards Authority of India (FSSAI), the Export Inspection Council of India (EIC), the Agricultural and Processed Food Products Export Development Authority (APEDA), and international agencies like the USFDA and EU regulations. Farmers and producers in sectors such as citrus fruits, green peas, cauliflower, carrots (both fresh and frozen), milk and milk products, basmati rice, wheat, millets like bajra and sorghum, mustard and sunflower oilseeds, and farm-produced shrimp will benefit from these state-of-the-art facilities, said Bittu, who is the Minister of State for Railways and Food Processing Industries.

Spooked by generative AI's sudden advance, governments initially scrambled to develop guardrails, as major tech companies rapidly integrated the technology into their products. Since taking office in January, the Trump administration has shifted focus toward accelerating AI development at all costs, pushing aside concerns about the models suffering hallucinations, producing deepfakes, or destroying human jobs.

Facebook and Instagram parent company Meta said Thursday it would launch its generative artificial intelligence assistant Meta AI in the European Union from «this week», more than a year after the service's US release. «It's taken longer than we would have liked to get our AI technology into the hands of people in Europe as we continue to navigate its complex regulatory system — but we're glad we're finally here,» the company said in a statement. «Starting this week, Meta AI will begin rolling out across 41 European countries.»

foreign central banks and others confront the spillovers from President Donald Trump's fast-moving effort to rewire international trade. With analysts in the U.S. noting the stagflationary direction of the U.S. outlook — weaker output and higher prices — central banks globally are parsing what the fallout may mean for them.

Raisina Dialogue. Opened by EU Ambassador to India Hervé Delphin, the workshop was organized in cooperation with the Embassy of the Netherlands.

digital arsenals" to interfere in Western democracies, while their messaging around the war in Ukraine had become increasingly aligned. «Foreign information manipulation and interference is a major security threat to the EU,» foreign policy chief Kaja Kallas said in a report. «We must not underestimate the power that this has over us, or the intentions of those behind it.» In its latest annual report on the subject Brussels said that last year it tracked disinformation attacks against over 80 countries and more than 200 organisations. The war in Ukraine remains a major target for Russia — but events such as the Olympics in Paris, elections in Moldova and farmers' protests in Germany were also in the crosshairs.

Subscribe to enjoy similar stories. For Global companies, there is no place quite like America. As growth in China and Europe has slowed, its economy has continued expanding at a decent clip.

reciprocal tariffs, which should be negated through higher export goals across both manufacturing and services fronts, SBI Research said Monday. This, it said, will be driven by India’s diversified exports kitty, value addition, alternate areas and new routes that transcend from Europe to the US via the Middle-East, redrawing new supply chain algorithms. “We estimated the decline in exports in the range of 3-3.5% which again should be negated through higher export goals across both manufacturing and services fronts,” SBI Research said, adding that India stands to gain in an increasingly uncertain world of tariffs. India has a $13 million trade deficit for aluminium and $406 million for steel with the US and can potentially take advantage of this. India is among the top 10 sources for aluminium for the US but its share has declined to 2.8% in 2024 from 3% in 2018. India is negotiating free trade agreement (FTA) with the UK, Canada, and the EU, targeting sectors like services, digital trade, and sustainable development. “The shift towards regional supply chains and the impact of geopolitical changes, such as the US tariff war are influencing India’s FTA strategies to ensure alignment with global trade dynamics,” it said.

«With GDP growth projections above 6 per cent annually, India's energy demand will continue to soar, and the country will remain heavily reliant on fossil fuels, including oil, to meet its needs,» said the report. As per the International Energy Agency (IEA) India's oil demand is projected to rise by 1.3 million barrels per day (mbpd) by 2030. The Organization of the Petroleum Exporting Countries (OPEC) estimates an even higher increase of 1.8 mbpd, bringing India's total oil consumption to 7.1 mbpd, up from 5.3 mbpd in 2023.

China's State Council unveiled on Sunday a 'special action plan' to boost domestic consumption, featuring measures including raising residents' income and setting up a childcare subsidy scheme. The plan comes as levels of consumer demand have suffered various setbacks in recent years, due to factors like COVID-19 disruptions and a long property slump, chilling the propensity of households to spend and adding to deflationary trends. Expanding domestic demand It was issued to all regions and departments to «vigorously boost consumption, expand domestic demand in all directions, improve consumption capacity by increasing income and reducing burdens,» a report from the Council said. The plan comes a week after Chinese Premier Li Qiang's work report to the National People's Congress which focused on boosting household spending to cushion the impact of weak external demand. Pressure has been building on Chinese officials for consumer-focused stimulus measures to fend off deflationary pressures and reduce reliance on exports and investment.

Xi Jinping has declined an invitation to visit Brussels for an summit to mark the 50th anniversary of EU-China diplomatic ties, the Financial Times reported on Sunday. Beijing told EU officials that Premier Li Qiang would meet the presidents of the European Council and Commission instead of Xi, the FT said, citing two people familiar with the matter whom it did not identify. The Chinese premier usually attends the summit when it is held in Brussels, while the president hosts it in Beijing, but the EU wants Xi to attend to commemorate half a century of relations between Beijing and the bloc, the newspaper said. Tensions between Brussels and Beijing have grown since Russia's invasion of Ukraine in 2022, with the EU accusing China of backing the Kremlin, the FT said. Last year, the European Union also imposed tariffs on Chinese electric vehicle imports. «Informal discussions are ongoing, both about setting the date for the EU-China summit this year and the level of representation,» an EU official told the newspaper, while the Chinese ministry was quoted as saying it did not have any information to provide on the matter.

consumer sentiment index nosedived to 57.9 in March, marking a 10.5% drop from February and falling short of economists’ forecasts. This reading—the lowest since November 2022—reflects growing anxiety over inflation and market volatility, exacerbated by President Trump’s aggressive tariff policies. The one-year inflation outlook surged to 4.9%, the highest in 16 months, while the five-year expectation hit 3.9%, a level unseen since 1993.

Subscribe to enjoy similar stories. “THE ACTION that is needed has to be bold and determined," declared Ursula von der Leyen, the president of the European Commission, this week. She was talking about how the European Union should respond to Donald Trump’s habit of tearing up supposedly “ironclad commitments", thereby threatening “European values".

global trade averages in 2024, UN Trade and Development (UNCTAD) said in its Global Trade Update Friday. It said that trends like the widening deficits of the US and EU with China along with India’s rising deficit with Russia amid shifting energy trade could prompt new tariffs, restrictions, or investment shifts, adding to economic uncertainty. However, it cautioned that trade resilience is under pressure in 2025 and as trade uncertainty grows, global cooperation and balanced policies will be key to preventing economic fragmentation and safeguarding long-term growth. Noting that protectionism and shifting trade strategies could disrupt global trade and services trade remains strong but goods trade faces uncertainty, UNCTAD urged balanced policies and multilateral cooperation. Governments are expanding tariffs, subsidies, and industrial policies, reshaping trade flows.

Subscribe to enjoy similar stories. Alcohol has landed on the front lines of a global trade war, throwing French wines, Irish whiskeys, Kentucky bourbon, Japanese beer and Mexican tequila into the crossfire between the U.S. and its biggest trading partners.