AIRLINK 78.90 Decreased By ▼ -0.51 (-0.64%)
BOP 5.36 Increased By ▲ 0.03 (0.56%)
CNERGY 4.34 Decreased By ▼ -0.04 (-0.91%)
DFML 33.30 Increased By ▲ 0.11 (0.33%)
DGKC 75.79 Decreased By ▼ -1.08 (-1.4%)
FCCL 20.40 Decreased By ▼ -0.13 (-0.63%)
FFBL 31.51 Increased By ▲ 0.11 (0.35%)
FFL 9.81 Decreased By ▼ -0.04 (-0.41%)
GGL 10.20 Decreased By ▼ -0.05 (-0.49%)
HBL 116.98 Decreased By ▼ -0.95 (-0.81%)
HUBC 133.61 Decreased By ▼ -0.49 (-0.37%)
HUMNL 6.95 Decreased By ▼ -0.05 (-0.71%)
KEL 4.56 Decreased By ▼ -0.11 (-2.36%)
KOSM 4.69 Decreased By ▼ -0.05 (-1.05%)
MLCF 37.07 Decreased By ▼ -0.37 (-0.99%)
OGDC 135.60 Decreased By ▼ -1.10 (-0.8%)
PAEL 22.90 Decreased By ▼ -0.25 (-1.08%)
PIAA 26.65 Increased By ▲ 0.10 (0.38%)
PIBTL 6.88 Decreased By ▼ -0.12 (-1.71%)
PPL 113.35 Decreased By ▼ -0.40 (-0.35%)
PRL 27.33 Decreased By ▼ -0.19 (-0.69%)
PTC 14.73 Decreased By ▼ -0.02 (-0.14%)
SEARL 56.99 Decreased By ▼ -0.21 (-0.37%)
SNGP 66.72 Decreased By ▼ -0.78 (-1.16%)
SSGC 11.12 Increased By ▲ 0.03 (0.27%)
TELE 9.18 Decreased By ▼ -0.05 (-0.54%)
TPLP 11.57 Increased By ▲ 0.01 (0.09%)
TRG 72.21 Increased By ▲ 0.11 (0.15%)
UNITY 25.12 Increased By ▲ 0.30 (1.21%)
WTL 1.40 No Change ▼ 0.00 (0%)
BR100 7,520 Decreased By -5.4 (-0.07%)
BR30 24,538 Decreased By -111.3 (-0.45%)
KSE100 71,905 Decreased By -66.5 (-0.09%)
KSE30 23,705 Decreased By -44.4 (-0.19%)

 BRUSSELS: The European Union's top court on Monday rejected an appeal by German carmaker BMW against a European Commission decision to limit the state aid it could receive for a car plant in eastern Germany.

The Commission stipulated in 2014 that the carmaker should receive no more than 17 million euros ($18.9 million) to expand production of two models of electric and hybrid passenger cars in Leipzig, a project expected to create 800 jobs.

Germany had originally planned to grant 45 million euros ($50.1 million) towards the project, but the Commission ruled any amount exceeding 17 million euros was incompatible with internal market rules.

BMW challenged the decision, arguing that the Commission had made errors in calculating the cost of the project. It lost an initial case before the General Court of the European Union, the second highest EU court, in September 2017.

BMW subsequently appealed, but the European Court of Justice rejected the appeal on Monday.

Copyright Reuters, 2019

Comments

Comments are closed.