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Financial & Business News

  • Business
    Reuters

    Hyundai to invest $530 million to launch six EVs in India by 2028

    South Korea's Hyundai Motor Co said on Wednesday it planned to invest 40 billion rupees ($530 million) to launch six electric vehicles in India by 2028, making a clean driving push in a country with some of the world's most polluted cities. Hyundai, India's second largest carmaker, will launch affordable and premium electric models including sport utility vehicles (SUVs) and sedans, starting with its first electric vehicle (EV) in 2022, said Tarun Garg, director sales and marketing for Hyundai Motor India. "We want to be a key contributor to the EV story in India," Garg told Reuters.

  • Business
    Reuters

    UPDATE 1-Australia to regulate crypto and BNPL in payments overhaul

    Australia will create a licencing framework for cryptocurrency exchanges and consider launching a retail central bank digital currency as part of the biggest overhaul of its payments industry in a quarter of a century. The country will also broaden its payment laws to cover online transaction providers like Apple Inc and Alphabet Inc's Google as well as buy-now-pay-later (BNPL) providers like Afterpay Ltd, ending their run of operating without direct supervision. "If we do not reform the current framework, it will be Silicon Valley that determines the future of our payment system," Treasurer Josh Frydenberg said in prepared speech notes supplied to Reuters.

  • World
    Reuters

    RPT-WRAPUP 1-Australia joins diplomatic boycott of Beijing Winter Games

    Australia will join the United States in a diplomatic boycott of the Winter Olympic Games in Beijing, Prime Minister Scott Morrison said on Wednesday, as other allies weighed similar moves to protest China's human rights record. The United States on Monday said its government officials will boycott the Beijing Olympics nL1N2SR0F6 because of China's human rights "atrocities", just weeks after talks aimed at easing tense relations between the two superpowers.

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