The struggles of an automaker dubbed China’s answer to Tesla cast a shadow over the outlook for the country’s electric vehicle industry. The company, established in 2014, listed on the New York Stock Exchange last September. The restructuring came amid a steep decline in sales. Nio moved only about 4,000 units of its mainstay ES8 sport utility vehicle in the January-March quarter and 3,000 in April through June, down from around 8,000 in the last three months of 2018. Source Asian Review
OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices. On Monday, Kuwait said the cartel should stick with its plan to increase output gradually because oil markets were well-balanced. That followed similar statements from other key members in recent days, including Iraq, Algeria, Angola and Nigeria. Source Al Jazeera
“If a state buys (weaponry) from us, it’s no longer a Turkish product. It might be manufactured in Turkey, but it belongs to Ukraine,” Cavusoglu told reporters after meeting his Russian counterpart, Sergei Lavrov, on the margins of the G20 summit in Rome. “Turkey cannot be blamed for this,” he said. Source The Defence Post
Bulgaria has sent 350 additional military personnel to its border with Turkey amid rising migration levels. Defense Minister Georgi Panayotov told Bulgarian media that the troops were arriving to “support the border police”. Source EuroNews
