Toyota Motor intends to start mass-producing electric vehicles by 2020, hoping to expand its lineup of green automobiles beyond hybrid and fuel-cell cars. Toyota will seek cooperation from group companies to start production quickly. Source: Nikkei Asian Review
The European Union will seek Asian support for free trade, the Iran nuclear deal and combating global warming at a regional summit on Thursday that includes China, Japan and Russia as a counterbalance to a more protectionist United States. Source: Reuters
Yesterday, the Hungarian central bank announced it recently boosted its gold reserves 10-fold. According to its website, the National Bank of Hungary (MNB) now owns 31.5 tons of gold, up from 3.1 tons. It was the first significant purchase of gold by Hungary since 1986. Shiff Gold
Egypt is working on a new model for future oil and natural gas production contracts in undeveloped areas to spur exploration and help become self-sufficient in energy, oil ministry and company officials said. Source: Bloomberg
