Greece used to be at the bottom in Europe in unemployment of young people with 39.5% in 2019, but that rate has dropped to 13%, Prime Minister Kyriakos Mitsotakis said in a video posted online on Tuesday.
MOSCOW: Tens of thousands of cars are being exported from China to Russia under gray-market schemes that often circumvent Western and Asian government sanctions and automakers’ commitments to exit the Russian market, according to registration data reviewed by Reuters and interviews with five people involved in the trade.The sanctions and company pledges came in reaction to Russia’s 2022 invasion of Ukraine. But a thriving trade in these vehicles – from Toyotas and Mazdas to German luxury models – continues partly through informal networks enabling Russian dealers to order them through Chinese intermediaries, the interviews and data from Russian research firm Autostat show.Most are made in China - where many international brands build vehicles with local partners - or are shipped through there after being manufactured elsewhere, according to the data and sources. A growing number are zero-mileage “used” vehicles – new cars registered as sold in China by dealers or traders, who then reclassify them as used and export them.The practice, highlighted by Reuters last year, is a symptom of China’s highly subsidized and hypercompetitive car market, allowing automakers and dealers to inflate sales figures, collect subsidies and export surplus vehicles.Traders moving European, Japanese and South Korean brand cars from China to Russia classify new cars as used to eliminate the need to get automaker approval for Russia sales, said Zhang Ai Jun, a former exporter at a Sichuan-based car trader. “This way is to export more easily,” she said. Zero-mileage used cars are often heavily discounted in China. But in Russia, they fetch prices similar to never-registered new cars, according to a Russian dealer and vehicle-shipping documents reviewed by Reuters.Reuters is the first to report the Autostat data, China’s emergence as the primary conduit for foreign vehicles to reach Russia and the practice of avoiding automakers’ Russia-sales restrictions by classifying new cars as used.Dmitry Zazulin, sales director at Moscow dealership Panavto-Zapad, said many customers want to buy and drive cars exclusively from Western brands, such as Mercedes. “However, at present, we can only bring them in through parallel channels,” he said. The dealership doesn’t import zero-mileage used cars, he added.Mercedes-Benz, BMW, Volkswagen and other automakers from regions imposing sanctions said they prohibit sales to Russia and are doing their best to prevent unauthorized exports, including through training and contractual clauses with dealers. But they highlighted the difficulty in investigating potential breaches: Such probes are “time-consuming and complex” and require third parties’ assistance, Mercedes said in a statement.BMW said it has told its China retail operation to “strictly oppose any potential vehicle exports to Russia,” adding that if cars nevertheless enter Russia as gray-market imports, “this happens outside our sphere of influence — and also expressly against our will.”A Russian dealer, who spoke on condition of only being identified by his first name, Vladimir, told Reuters his dealership in Vladivostok doesn’t stock restricted foreign cars but buys them one-by-one from Chinese traders to fill customer orders. “There are lots of middlemen: This one knows that one; that one knows another, and that one can reach the dealer,” he said.
Dabur India has appointed former Hershey executive Herjit S Bhalla as CEO – India Business, while elevating Mohit Malhotra to the role of Global CEO.
BitcoinWorldBitcoin Price Plummets Below $67,000 as Market Uncertainty Grips Crypto InvestorsGlobal cryptocurrency markets experienced significant turbulence on Tuesday as Bitcoin, the world’s leading digital asset, dropped below the crucial $67,000 threshold. According to real-time data from Bitcoin World market monitoring, BTC now trades at $66,993 on the Binance USDT market, marking a notable decline from recent highs. This price movement represents a pivotal moment for [...]This post Bitcoin Price Plummets Below $67,000 as Market Uncertainty Grips Crypto Investors first appeared on BitcoinWorld.
UL’s first road trip didn’t go well at all, suffering an 8-0 run rule setback at No. 7-ranked Florida State in five innings.
Ola Electric in a statement said the High Court also observed that the District Consumer Commission had exceeded its jurisdiction under the Consumer Protection Act while issuing the warrant.
BW LPG Limited (NYSE:BWLP – Get Free Report) saw a large decrease in short interest in January. As of January 30th, there was short interest totaling 1,191,693 shares, a decrease of 15.4% from the January 15th total of 1,409,281 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily trading [...]
Bioventix PLC (LON:BVXP – Get Free Report)’s share price reached a new 52-week low on Tuesday . The stock traded as low as GBX 1,600 and last traded at GBX 1,650, with a volume of 9292 shares. The stock had previously closed at GBX 1,700. Bioventix Stock Down 2.9% The firm has a market cap [...]
Intrepid Potash, Inc (NYSE:IPI – Get Free Report) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 377,701 shares, a drop of 15.1% from the January 15th total of 444,913 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average trading volume [...]
Nuveen S&P 500 Buy-Write Income Fund (NYSE:BXMX – Get Free Report) was the recipient of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 49,685 shares, a decline of 14.8% from the January 15th total of 58,343 shares. Based on an average daily trading [...]
Genmab A/S Sponsored ADR (NASDAQ:GMAB – Get Free Report) saw a significant decrease in short interest in January. As of January 30th, there was short interest totaling 8,413,829 shares, a decrease of 15.1% from the January 15th total of 9,908,231 shares. Based on an average trading volume of 2,151,118 shares, the days-to-cover ratio is presently [...]
Laureate Education (NASDAQ:LAUR – Get Free Report) saw a large decline in short interest in January. As of January 30th, there was short interest totaling 1,833,032 shares, a decline of 14.6% from the January 15th total of 2,147,019 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily [...]