VW overhaul could be ‘biggest in history’

BERLIN: Volkswagen is considering shutting four German factories and ramping up job cuts to as many as 100,000, two people familiar with the matter said on Friday, in what could be the biggest ever overhaul in the industry. Members of VW’s supervisory board have been informed of the plans, which are due to be discussed…

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Bolivia ends 15-year dollar peg

LA PAZ: Bolivia will adopt a flexible exchange-rate system, the government said on Friday, effectively devaluing the currency by ending a 15-year dollar peg in a major policy shift aimed at restoring economic stability. Bolivia’s central bank will oversee the shift, as the government aims to “strengthen macroeconomic stability, preserve external competitiveness and contribute to…

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Glass industry pushes for 5% profit benchmark

ISLAMABAD: The All Pakistan Glass Manufacturers Association (APGMA) has urged the National Tariff Commission (NTC) to reconsider its methodology in the ongoing anti-dumping investigation concerning soda ash imports from Turkiye and Kenya, arguing that the commission has adopted an unjustified profit assumption while calculating the “non-injurious price”. In a representation to NTC, APGMA Secretary General…

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Google limits Meta’s use of its Gemini AI models, FT reports

Capacity shortfall disrupts some of Meta’s internal AI projects, with several other Google clients also affected The Google logo is pictured at the entrance to the Google offices in London, Britain January 18, 2019. PHOTO: REUTERS Google has put limits on Meta’s use of its Gemini AI models after the social media company sought more computing capacity than the rival tech group could provide,…

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Traders demand immediate reopening of cotton market

One year on, exchange sealing paralyses trade, sends negative signals to foreign investors KARACHI: The Karachi Chamber of Commerce and Industry (KCCI), while expressing deep concern over the continued sealing and forceful occupation of the historic Cotton Exchange building, has stated that it has inflicted severe damage on Pakistan’s cotton trade, disrupted hundreds of businesses…

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