The EU has for the first time launched a formal review of a price undertaking offer from a company seeking to avoid its tariffs on Chinese-made electric vehicles, following a submission from Volkswagen’s Chinese joint venture. Over the course of 12 to 15 months, the European Commission will examine whether VW Anhui can replace its countervailing duties with a managed price system in a move that would effectively equalise the impact of the tariffs. While the commission is not reopening its... Events
Singapore Airlines on Thursday reported a sharp fall in first-half profit, hit by losses at its Indian associate Air India, higher costs and intensifying competition. The airline’s profit slid steeply in the second quarter to S$52 million (US$40.18 million) from S$186 million in the first quarter, highlighting Air India’s drag on performance. Singapore Airlines began accounting for Air India’s earnings in December 2024 after the integration of joint venture Vistara into Air India. The Singapore... Economics
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