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Video Player Close BEIJING, Feb. 27 (Xinhua) -- China's passenger vehicle sales are expected to surge 377 percent year on year to around 1.19 million units in February due to the low base factor last year, according to a report from an industrial association. On a monthly basis, the sales of passenger cars, including sedans, sport-utility vehicles and multipurpose vehicles, will fall 44.9 percent considering the low demand during the country's seven-day Spring Festival holiday, data from the China Passenger Car Association (CPCA) showed. The association expects the country's auto market to resume recovery this month, boosted by effective epidemic control and the government's pro-consumption measures. Last month, the new-energy vehicle market maintained strong growth, which will further drive the country's auto market to expand, said the CPCA. The wholesale volume of new-energy passenger vehicles registered solid growth last month, soaring 290.6 percent year on year to ... » Learn More about China’s passenger car sales expect to reach 1.19 mln in February

petrol prices which have touched a record high . The stress on petrol has been high lately as prices in certain parts of Rajasthan and Madhya Pradesh have breached the Rs 100-mark. The fuel prices are determined by various factors like taxes, import duty and dealer commission. For example, a litre of petrol in Mumbai will cost you Rs 97.34 (as on February 26) while diesel is not far behind with Rs 88.44 for a litre (as on February 26), but we are here to tell you few genuine methods to optimize your purse in these challenging times. 1. Timely servicing: This should be your first and foremost response in a situation where the fuel prices turn unpredictable. If you haven’t serviced your vehicle recently, then immediately take a trip to your authorized service centre and try to get your vehicle tuned to offer optimum fuel efficiency . The only challenge you will face here is that you won’t be the only one lining up outside the garage at least at this point in time. ... » Learn More about Fuel price on record high, ways to optimize savings

Individuals may be permitted to invest in foreign shares, insurance products China is likely to achieve a breakthrough this year that would permit personal investment in securities and insurance products overseas, an indication that policymakers are willing to see more active two-way capital flows, experts said on Monday. The experts also hinted at the possibility of further removing limits on personal cross-border investment, with a senior official from the foreign exchange regulator suggesting the revision of some relevant rules in an article published in China Forex, a magazine, on Friday. Ye Haisheng, director of the Capital Account Management Department at the State Administration of Foreign Exchange, said regulators are considering allowing individuals to invest in overseas securities and insurance products within the annual quota of $50,000. The SAFE will also study to ease restrictions in an orderly way on outboard personal investment, amend the management regulations ... » Learn More about Two-way fund flows set to be encouraged

For Quick Alerts Subscribe Now Jaipur Literature Fest: Congress MP Shashi Tharoor lauds Professor Michael Sandel on his new book View Sample For Quick Alerts ALLOW NOTIFICATIONS For Daily Alerts #Narendra Modi Khelo India Winter Games: Jammu and Kashmir will become 'Winter Sports Hub', says PM Modi #Narendra Modi Your success made the great MGR very happy, says PM Modi at Dr MGR Medical University #Narendra Modi Its done: The 3.45 am call to NSA Doval after Balakot was hit and Operation Bandar was competed #Narendra Modi PM Modi underlines support for farmers; attacks Congress-DMK alliance #Narendra Modi 'I was shocked': PM Modi slams Rahul Gandhi over 'Fisheries Ministry' remark #Narendra Modi PM Modi inaugurates multiple developmental projects in Puducherry Just In 4 min ago Delhi: 55-year-old man killed by speeding Mercedes in Vasant Vihar; driver ... » Learn More about India’s fintech market likely to grow to 6 lakh crore

Jaguar Land Rover will slash its manufacturing capacity by 25 percent over five years and write off investment in products it’s decided to scrap under new CEO Thierry Bollore . The British carmaker will take a non-cash charge of about 1 billion pounds ($1.4 billion) in the quarter ending in March related to higher previous spending and projects it won’t complete, according to an investor presentation. The company said last week it was calling off plans to build a battery-powered replacement of the Jaguar XJ sedan . The Tata Motors Ltd.-owned manufacturer’s new business plan under Bollore, 57, includes making the Jaguar marque all-electric within four years while giving the Land Rover SUV brand more time to make the jump. On Friday, the carmaker said it has lowered its breakeven point to about 400,000 vehicles a year, from 600,000. JLR ’s pivot away from the internal combustion engine is the latest seismic shift in the auto industry driven by stricter emissions rules. ... » Learn More about Jaguar Land Rover will shed a quarter of its production capacity

(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click here to subscribe for free.) Hyundai Motor has so far avoided a chip shortage that has plagued global automakers, largely maintaining its stockpile of chips last year and even accelerating purchases towards the end, three people with knowledge of the matter said. The shortage has forced production cuts worldwide, including at Volkswagen and General Motors , prompting Germany and the United States to ramp up efforts to resolve the shortage. Other than Japan's Toyota Motor, which said this month it had enough chip inventory to last it about four months, Hyundai and its sister firm Kia Corp are the only global automakers to have maintained a stockpile of low-tech chips that helped them keep up production. If it doesn't ease soon, though, the shortage could hit Hyundai too, as tight capacity on factory floors starts pressuring production of even high-tech auto chips, said two of ... » Learn More about Hyundai bought chips when rivals didn’t; its assembly lines are still rolling

Skill Development Council ( ASDC ) on Thursday said it has inked a pact with talent management firm Magic Billion to explore offering specialised overseas opportunities to candidates in the automotive sector. The Memorandum of Understanding (MoU) inked between the two parties would focus on skill enhancement of the manpower in automotive sector, thereby improving employability as per industry 's future requirement, ASDC said in a statement. "Right now, all the new-age vehicles are more technologically advanced, connected and smart, which calls for an entirely new set of skills and knowledge to drive the industry growth and its complete value-chain. Through this collaboration with Magic Billion, we aim to contribute, positively to build India's competitiveness by enhancing employability within India as well as in other countries," ASDC Chairman Nikunj Sanghi said. Magic Billion Co-Founder and President Basab Banerjee said its association with ASDC has assisted in sourcing ... » Learn More about Automotive Skill Development Council ties up with Magic Billion

The latest regulatory requirements for commercial banks' online lending facilitated by third-party partners will encourage fintech companies to cooperate with banks in customer acquisition and risk control areas, or form technology partnerships with banks while discouraging third parties to offer joint loans with banks, experts said. The China Banking and Insurance Regulatory Commission, the country's top banking and insurance regulator, issued a notice on Saturday outlining detailed requirements and quantitative indicators to further regulate commercial banks' online lending business, to promote healthy development of the business and effectively prevent financial risks. According to the requirements, for each loan jointly offered by a commercial bank and a partner, the partner must provide no less than 30 percent of the loan funds. Third-party partners involved in joint lending are usually large internet platforms like Ant Group, an affiliate fintech company of China's e-commerce ... » Learn More about Rules tighten in e-lending to cut risks

China unveiled detailed requirements and quantitative indicators to further tighten control over risks in relation to commercial banks' online lending business facilitated by their partners, the country's top banking and insurance regulator announced on Saturday. According to the new requirements, for a single online loan jointly offered by a commercial bank and a partner, the partner must provide no less than 30 percent of the loan fund. Currently, the partners are usually large internet platforms like Ant Group, an affiliate fintech company of China's e-commerce giant Alibaba. In addition, the China Banking and Insurance Regulatory Commission set the upper limit for the balance of online loans jointly offered by a commercial bank and a single partner at 25 percent of the bank's net tier 1 capital. The regulator also capped the balance of online loans jointly offered by a bank and all of its partners at 50 percent of the bank's outstanding loan balance. "By setting quantitative ... » Learn More about New requirements set to tighten control over online bank lending risks

'As the night wore on, we could hear insects, see fireflies and slowly, the stars took over the naked sky.' Rediff.com 's Divya Nair takes you on her ride from touristy Manali to less inhabited Jispa -- via Rohtang La (13,050 feet). PART 1: 12 days, 5 states, 1,800 km: A dream journey begins PART 2: Delhi to Manali: 17 hrs of driving, funny signs and a risky tunnel Day 3: Manali to Jispa: 138 km IMAGE: The view from the Citrus Resorts, Manali, where we stayed. Photograph: Kind courtesy Pawan Sharma I woke up leisurely by 7 am, dressed up and stepped out of the hotel room to soak in the morning view. The property was nestled in an abundance of nature -- colourful flowers, green valleys and a view of the Beas -- enough sights to liven up your morning. On the radio, it was announced that the media car would be positioned in the middle of the convoy (after Adventure 11), which meant that we'd be driving behind Adventure 9. It also meant that we could ... » Learn More about Manali-Jispa: The magic of Nature