BYD experiences probably its worst period in history as the plug-in electric car sales keep declining at a rate far exceeding the average New Energy Vehicle drop after the subsidies were cut in China.
In December, BYD managed to sell only 10,717 plug-in electric cars, which is 71% less than a year ago. As a consequence, plug-ins account for just 26% of total passenger car sales by the brand. Source Inside EV
A former Interpol chief accused of bribery was sentenced to 13-and-a-half years in jail by a Chinese court on Tuesday. Meng Hongwei, who was the first Chinese head of Interpol, vanished on a trip back to the country from France in September 2018. Source BBC
According to Omroep Brabant, security guards now regularly ride the bus. The small group regularly causes problems with boarding at Grave. For example, they refuse to pay, discuss the fare and are aggressive towards the bus driver, Connexxion claims. The attack and the nuisance mainly take place in the afternoon and evening. Source Telegraaf
France’s biggest hydroelectric power site at Grand’Maison was shut down on Tuesday by workers protesting against government plans to change the pension system, a branch of the CGT trade union said in a statement. Source French
The New York Federal Reserve on Thursday accepted all $44.15 billion in overnight bids from primary dealers in a repurchase agreement (repo) operation meant to keep the federal funds rate within the target range. Source Reuters
Supermarket sales in 2019 fell 1.8 percent from the previous year on a same-store basis, down for the fourth consecutive year, affected by the consumption tax hike on Oct. 1 and unfavorable weather, an industry body said Thursday. Source The Japan Times
New car sales in Japan fell by 1.5% in 2019, in the first decrease in three years. Statistics from the Japan Automobile Dealers Association and Japan Mini Vehicles Association show that a total of 5,195,216 new cars were purchased. Source Nippon
The Taliban said it had shot down a U.S. military plane in the central Afghan province of Ghazni on Monday, killing all personnel on board. Source Reuters
Proposals to revive the “Sophia” naval mission with a focus on enforcing the UN weapons embargo on Libya have broken down, according to a German media report. Italy had expressed skepticism over the plan. Source Deutsche Welle
More than 50,000 refugees are stuck on the Greek islands, living in appalling conditions. The situation is also impacting on the local population, who want change. Max Zander reports from Lesbos. Source Deutsche Welle
January 24 marks the seventh national day of strikes in France against the government’s proposed pension reforms, as protesters call for more action on Wednesday, January 29, 30 and 31. Source: Conexxion France
The European Union will not agree to a political solution to Libya’s factional conflict unless Turkey and Libya abandon a maritime accord they signed in November, Greek prime minister Kyriakos Mitsotakis said on Thursday. Source Reuters
A former Interpol chief accused of bribery was sentenced to 13-and-a-half years in jail by a Chinese court on Tuesday. Meng Hongwei, who was the first Chinese head of Interpol, vanished on a trip back to the country from France in September 2018. Source BBC
According to Omroep Brabant, security guards now regularly ride the bus. The small group regularly causes problems with boarding at Grave. For example, they refuse to pay, discuss the fare and are aggressive towards the bus driver, Connexxion claims. The attack and the nuisance mainly take place in the afternoon and evening. Source Telegraaf
France’s biggest hydroelectric power site at Grand’Maison was shut down on Tuesday by workers protesting against government plans to change the pension system, a branch of the CGT trade union said in a statement. Source French
The media office of Volcano of Rage Operation said Wednesday that Khalifa Haftar’s forces breached the ceasefire agreement again by targeting Mitiga Airport in Tripoli with six Grad rockets leading to the suspension of flights for hours. Source Libya Observer
British MPs approved the latest Brexit bill, but rejected five amendments. They included provisions to reunite child refugees with families already in the UK, and guaranteed residence for millions of EU citizens. Source Deutsche Welle
Residents of the islands of Lesvos, Chios and Samos on Wednesday held public protests against what they said is the negative impact of the migration crisis on their communities and on North Aegean islands at large, which is home to the most congested reception and identification facilities – also known as hotspots. Source Ekathimerini
The U.S. fiscal deficit topped $1 trillion in 2019, the first time it has passed that level in a calendar year since 2012, according to Treasury Department figures released Monday 13 January. Source CNBC
The closure of oil fields and production facilities threatens the country’s finances, warns Libya’s central bank.The closure of Libya’s major oil fields and production facilities has resulted in losses of more than $255 million in the six-day period ending January 23, the country’s national oil company said on Saturday. Source TRT
BYD experiences probably its worst period in history as the plug-in electric car sales keep declining at a rate far exceeding the average New Energy Vehicle drop after the subsidies were cut in China.
In December, BYD managed to sell only 10,717 plug-in electric cars, which is 71% less than a year ago. As a consequence, plug-ins account for just 26% of total passenger car sales by the brand. Source Inside EV
The New York Federal Reserve on Thursday accepted all $44.15 billion in overnight bids from primary dealers in a repurchase agreement (repo) operation meant to keep the federal funds rate within the target range. Source Reuters
Supermarket sales in 2019 fell 1.8 percent from the previous year on a same-store basis, down for the fourth consecutive year, affected by the consumption tax hike on Oct. 1 and unfavorable weather, an industry body said Thursday. Source The Japan Times
New car sales in Japan fell by 1.5% in 2019, in the first decrease in three years. Statistics from the Japan Automobile Dealers Association and Japan Mini Vehicles Association show that a total of 5,195,216 new cars were purchased. Source Nippon
European new car sales are expected to fall by two percent in 2020, their first decline in seven years, the industry trade association said Wednesday as it urged governments to aid a transition to greener vehicles. Source RFI
The financial crisis at South African Airways deepened Tuesday with one of the nation’s largest travel agencies announcing that the airline had cancelled several domestic and international flights. Source: BusinessReport
Belarus has started importing oil from Norway after its main oil provider, Russia, suspended supplies earlier this month amid stalled talk on further strengthening economic ties between two countries. Source: Energy Voice
China’s economy grew last year at the slowest pace in almost three decades. Official figures show that the world’s second largest economy expanded by 6.1% in 2019 from the year before – the worst figure in 29 years. The country has faced weak domestic demand and the impact of the bitter trade war with the US. Source BBC
Gefira tracks the global players in Europe, the USA, Russia and China and anticipates the consequences of their policies
Gefira No. 9 is now available at a discount. 160 euros for 10 issues a year plus access to our archives.
Europe's geopolitical situation resembles that of 1913.
The enlargement of the European Union to the east, Germany's Ostpolitik, economic power and its reluctance to align its policy with France's and Italy's make the break-up of the Union unavoidable. While Germany is gaining a status of a financial superstar, German society is starting to disintegrate.
Nobody dares to ask, but the ECB board is bracing itself for the upcoming break-up of the euro. The Gefira team explains why France or Italy will leave the euro and we investigate how the ECB is preparing for the looming euro collapse.
