Month: June 2022

Earlier this month, Tesla made headlines yet again, but this time the news wasn’t good: the company was raising the price of most of its cars, with CEO Elon Musk citing raw material inflation as one of the reasons for the hike. Tesla is not the only one. The prices of copper, cobalt, lithium, aluminum—pretty much everything that comes out of the ground—are soaring. Normally, this would motivate miners to spend more on getting these metals out of the ground. This time, however, they are taking the same cautious approach…

Prime Minister Shehbaz Sharif Monday urged Saudi investors to come forward and invest in the different sectors of Pakistan. Talking to a delegation of Saudi businessmen and investors here, the premier said that Pakistan has huge potential for investment in diverse fields, including agriculture and minerals. He said Saudi Arabia and Pakistan enjoy excellent brotherly relations and both the countries should transform their mutual cooperation into economic partnership. The prime minister said Saudi Arabia always extended support to Pakistan on economic and diplomatic fronts. Shehbaz Sharif also reaffirmed Pakistan’s desire…

Germany will rely more on electricity generation from coal in order to conserve gas and fill its gas storage by winter, German Economy Minister Robert Habeck said on Sunday, outlining measures to save gas after Russia last week reduced supply to some of its biggest customers in Europe. As a first measure, Germany will reduce the use of natural gas in electricity generation, the minister said. “To be honest, this means more coal-fired power generation for a transition period,” Habeck, who represents the Green party in the government coalition, said…