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Volkswagen to get $351mn in dieselgate settlement with former execs

Most of compensation from insurance payouts.
Winterkorn to pay 11.2mn euros, Stadler 4.1mn.
Prosecutors charge Winterkorn with false testimony.

Updated 09 Jun, 2021 07:53pm

Business & Finance

BMW drives profits sharply higher in Q1

BERLIN: German luxury carmaker BMW said Friday that earnings rose sharply in the first three months of the current...

Updated 09 May, 2021 10:30am

Business & Finance

Volkswagen, IG Metall strike wage deal

Volkswagen, the world's second-largest carmaker, has seen its shares rise by more than half, shrugging off the impact from the coronavirus pandemic and a chip shortage that has hit the automotive sector.

Published 13 Apr, 2021 12:39pm

Markets

Fiat Chrysler Canada auto sales rise 4pc in first quarter

The carmaker said it had sold 46,077 vehicles, up from 44,140 a year earlier.

Published 02 Apr, 2021 12:12am

Business & Finance

Daimler says despite chip shortage, 2021 off to good start

The carmaker said the planned listing of its truck making unit is being prepared and should be completed by the end of 2021.

Published 31 Mar, 2021 12:05pm

Business & Finance

‘Das Auto’ goes electric as VW takes on Tesla

FRANKFURT: When Volkswagen chief executive Herbert Diess joined Twitter in January, he used his first tweet to warn...

Published 30 Mar, 2021 05:45am

Business & Finance

Italy, France did not discuss Rome buying Stellantis stake

Stellantis was formed at the beginning of this year through the merger of Fiat Chrysler and France's PSA.
The French government, a former investor in PSA, holds a 5.7% stake.

Published 19 Mar, 2021 07:46pm

Business & Finance

Battery maker Northvolt signs $14 billion order from Volkswagen

The battery maker also said it will sell its share in joint-venture Northvolt Zwei to Volkswagen, while the carmaker increases its ownership in Northvolt.
By consolidating cell production to the Northvolt Ett gigafactory, the partners will achieve further economies of scale, thereby securing the best possible cost and enabling the lowest environmental footprint in the world for cell production.

Published 15 Mar, 2021 05:44pm

Business & Finance

Upbeat brokers lift Volkswagen's market value above 100bn euros

Preferred shares, which are listed in Germany's benchmark DAX index, advanced as much as 6.2% to their highest since January 2018, taking Volkswagen's market value to 100.4 billion euros ($121 billion).
"The market has been waiting for our #BEV-ramp-up and wanted to see some proof points, so here we are," Volkswagen Chief Executive Herbert Diess said.

Published 03 Mar, 2021 09:06pm

Business & Finance

India woos Tesla with offer of cheaper production costs than China

Gadkari's pitch comes weeks after billionaire Elon Musk's Tesla registered a company in India in a step towards entering the country, possibly as soon as mid-2021.
Rather than assembling (the cars) in India they should make the entire product in the country by hiring local vendors.

Published 02 Mar, 2021 06:50pm

Business & Finance

Tesla cuts prices of base variants of Model 3, Model Y

The standard range of the Model Y was launched in January, bringing its SUV's price closer to that of the Model 3 sedan, the electric-car maker's least expensive car.

Published 18 Feb, 2021 11:27am

Business & Finance

All JLR cars to be fully electric by 2030; Jaguar all electric by 2025

JLR, owned by India's Tata Motors, said on Monday the Jaguar brand will lead the way with a fully electric model range built on a brand-new electric platform by 2025.
Land Rover will launch six pure electric models in the next five years with the first one coming in 2024, JLR said.

Published 15 Feb, 2021 04:56pm

Business & Finance

Toyota Q3 net profit soars

TOKYO: Toyota said Wednesday that net profit soared 50 percent in the third quarter and upgraded its full-year...

Updated 11 Feb, 2021 09:32am

Business & Finance

Daimler to spin off trucks in shift to electric, self-driving vehicles

We have confidence in the financial and operational strength of our two vehicle divisions.
We are convinced that independent management and governance will allow them to operate even faster... and thus be significantly more agile and competitive.

Updated 03 Feb, 2021 09:04pm

Business & Finance

Luxury carmaker Ferrari says FY 2020 core profit fell 10pc

The 'Cavallino Rampante'- or 'Prancing Horse'- said its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) stood at 1.143 billion euros ($1.38 billion) last year.
In line with a guidance of around 1.125 billion euros the company provided in November.

Published 02 Feb, 2021 05:41pm

Business & Finance

VW ordered to pay $20mn in Spanish diesel claim, carmaker to appeal

Last year Germany's highest court for civil disputes ruled Volkswagen had to pay compensation to owners of vehicles with rigged diesel engines in Germany.

Published 26 Jan, 2021 12:41am

Business & Finance

Turning corona corner, Volkswagen's profit falls less than feared

2020 adj op profit 10 bln euros vs 19.3 bln in 2019.
VW says deliveries recovered strongly in Q4.
Shares hit 11-month high.

Published 22 Jan, 2021 06:00pm

Business & Finance

Volkswagen operating profit drops by half in 2020

2020 adj operating profit 10 bln euros vs 19.3 bln in 2019.
VW says deliveries recovered strongly in Q4.
Shares turn positive.

Published 22 Jan, 2021 05:16pm

Business & Finance

Toyota settles US probe into delayed emissions defect reports for $180mn

The US Attorney's Office in Manhattan is set to announce the settlement later on Thursday.
The $180 million fine is the largest civil penalty for violation of EPA's emission-reporting requirements.

Published 14 Jan, 2021 09:41pm

Business & Finance

New Renault boss plans leaner, electric future

Targets 3 bln euros in cost savings by 2025.
To cut car output to 3.1 mln by 2025 vs 4 mln in 2019.
Operating margins to reach 5% by 2023.
Renault attempting to turn around Nissan alliance.

Published 14 Jan, 2021 08:14pm

Business & Finance

Chip shortage forces Nissan to cut Note compact car production

Chip shortage hitting carmakers as demand rebounds.
Honda also says it may be affected by chip shortage.
Fire at a chip plant in Oct also hit supplies in Japan.

Published 08 Jan, 2021 06:16pm

Business & Finance

Honda halts UK car output on Tuesday and Wednesday due to supply delays

Honda also suspended production for a few days in December as some major container ports.
The pandemic has upended normal trade flows, leaving stranded empty cargo containers in the wrong places.

Published 05 Jan, 2021 08:56pm

Markets

Volkswagen shares gain as power struggle ends - for now

At the same time, Diess dropped his demand for an early extension of his contract, which runs until 2023, according to people close to the supervisory board.

Published 15 Dec, 2020 04:35pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 19	278.45
USD PKR Interbank Buying / Apr 19	278.15
USD to Japanese Yen / Apr 19	154.64
USD to Swiss Franc / Apr 19	0.91
Pound Sterling to USD / Apr 19	1.24
Euro to USD / Apr 19	1.07

Stock	Volume
S&P 500 / Apr 19	4967.23
India Sensex / Apr 19	73088.33
Tokyo Nikkei / Apr 19	37068.35
Nasdaq / Apr 19	15282.01
Hang Seng / Apr 19	16224.14
FTSE 100 / Apr 19	7895.85
Dow Jones / Apr 19	37986.40
Germany DAX 30 / Apr 19	17737.36

Item	Value
Crude Oil USD/Barrel / Apr 19	83.14
Karachi Cotton PKR/37.32 KG / Apr 19	21035
Gold 10 Grams PKR / Apr 19	214935
Gold Spot USD/Ounce / Apr 19	2391.93
Cotton US¢/pound / Apr 19	81.02
Petrol/Litre / Apr 20	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 20 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 20 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 20 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 20 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 20 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 20 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 20 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 20 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 20 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 20 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 20 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 20 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 20 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 20 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 20 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 20 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 20 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 20 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 20 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 20 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 20 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 20 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 20 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 20 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 20 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 20 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 20 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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