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Ukraine war: Russian nukes are now in Belarus, says Putin

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Ukraine war: Russian nukes are now in Belarus, says Putin

ST. PETERSBURG (BBC) – In remarks at this year’s St. Petersburg International Economic Forum, Vladimir Putin confirmed that Russia has delivered the first batch of nuclear weapons to facilities in Belarus, vowing that more warheads will arrive before the end of the year.

The US government says there is no indication the Kremlin plans to use nuclear weapons to attack Ukraine.

“We don’t see any indications that Russia is preparing to use a nuclear weapon,” US Secretary of State Antony Blinken said after Mr Putin’s comments.

Belarus is a key Russian ally and served as a launchpad for Mr Putin’s full-scale invasion of Ukraine in February last year.

The tactical nuclear warheads are less powerful than much of the rest of Russia’s nuclear arsenal. Mr Putin said the transfer would be finished by the end of the summer.


READ MORE : St. Petersburg International Economic Forum: UAE president tells Russia’s Putin: we wish to strengthen ties

Answering questions after a speech at the St Petersburg International Economic Forum, Russia’s president said the move was about “containment” and to remind anyone “thinking of inflicting a strategic defeat on us”.

When asked by the the forum’s moderator about the possibility of using those weapons, he replied: “Why should we threaten the whole world? I have already said that the use of extreme measures is possible in case there is a danger to Russian statehood.”

The Russian leader is due to meet African leaders in St Petersburg after they visited Kyiv on Friday as part of a peace initiative they are presenting to both countries.

However while they were in the city it came under Russian missile attack.

South African President Cyril Ramaphosa called for de-escalation on both sides and negotiations for peace.

“We came here to listen and recognise what the people of Ukraine have gone through,” he said.

But Ukraine’s President Volodymyr Zelensky said instead of making diplomatic overtures to Russia it should be frozen out diplomatically to send a message that the international community condemned its invasion.

Kyiv would not enter negotiations with Moscow while it still occupied Ukrainian territory, Mr Zelensky said.

Mr Putin also repeated his claim that Ukraine stood no chance of succeeding in its ongoing counter-offensive.

The Ukrainian military was also running out of its own military equipment and would soon only be using Western-donated equipment, he said.

“You can’t fight for long like that,” he said, warning that any F16 US fighter jets given to Ukraine “will burn, no doubt about it”.

Ukraine has previously dismissed similar remarks, asserting they are making progress in recapturing territory in both eastern and southern Ukraine.

The BBC cannot independently verify battlefield claims.

The Russian leader also addressed economic themes, claiming that Western sanctions on Russia had failed to isolate it and instead led to an “expansion” in its trade with “the markets of the future”.

He praised new deals with countries in Asia, the Middle East and Latin America – calling them “reliable, responsible partners”.

Belarusian President Alexander Lukashenko declared Tuesday that his country had already received some of Russia’s tactical nuclear weapons and warned that he wouldn’t hesitate to order their use if Belarus faced an act of aggression.

During his meeting Friday with Lukashenko, Putin said work on building facilities for the weapons would be completed by July 7-8, and they would be moved to Belarusian territory quickly after that.

Asked later by a Russian state TV host whether Belarus had already received some of the weapons, Lukashenko responded coyly by saying: “Not all of them, little by little.”

(BBC with AP and PBS)

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Tesla’s China expansion hits speed bump amid industry overcapacity

Tesla’s China expansion hits speed bump amid industry overcapacity

SHANGHAI, (Reuters) – Tesla’s (TSLA.O) ambitious plan to boost auto production in Shanghai, its most valuable plant globally, hinges on China’s approvals to develop 70 hectares (172 acres) of former farmland that is currently overgrown with wildflowers.

Once courted by Beijing to help spur the development of a domestic electric vehicle (EV) industry, Tesla may now be a victim of its own success in the world’s biggest auto market, challenging plans to use its cost advantage from Chinese production to power exports.


READ MORE : Demand for electric cars is booming, with sales expected to leap 35% this year after a record-breaking 2022

China’s state planner, the National Development and Reform Commission (NDRC), has been cautious about approving new electric vehicle (EV) production plans by all automakers because of concerns about overcapacity and a deepening price war launched by Tesla, according to executives at rival companies and analysts.

Bill Russo, the Shanghai-based founder and CEO of advisory firm Automobility, estimated that China had excess auto production capacity of about 10 million vehicles a year – equivalent to two-thirds of all North American output in 2022.

“You could argue that as Tesla, I’ve got new products, I need to have a new factory to build them in,” he said. “But viewed from the China government’s point of view, all they see is a market that’s oversupplied.”

Tesla had detailed plans to add 450,000 vehicles of annual capacity at the new Shanghai site around 3 km (1.9 miles) from its current plant in an effusive May 2022 letter that thanked the local government for its support during the Shanghai lockdown over COVID-19. Based on retail values, the annual production would be worth more than $18 billion.

While it was not disclosed in official remarks by Tesla CEO Elon Musk or Chinese authorities, the topic of the expansion came up during his whirlwind visit to China at the end of last month, according to a person with direct knowledge of the matter.

After meetings with senior Chinese officials including Vice Premier Ding Xuexiang, Musk told a small group of Tesla staff that he saw “positive progress” in discussions about the expansion without elaborating, said the person, who was not authorised to speak publicly.

Tesla and the NDRC did not respond to requests for comment.

“Tesla is doubling down on China, and while it’s hit some snags over the last year we believe Musk’s trip to China has soothed the situation over and we expect progress announcements over the coming months,” said Dan Ives, an analyst at Wedbush Securities.

Construction of Tesla’s Shanghai plant took less than a year to complete after it broke ground on the site in 2019.


WHY TESLA NEEDS CHINA

Tesla’s reliance on China is a complication in the United States, where Biden administration incentives reward automakers for producing batteries and vehicles locally.

But Tesla’s Shanghai plant, which produced almost 711,000 Model 3 and Model Y vehicles last year and has lifted annual maximum capacity to more than 1 million, has been crucial to its cost advantage over its rivals and propelled exports to Southeast Asia and Canada.

With a goal of selling 20 million cars globally by 2030, up from 1.31 million in 2022, Tesla has been in discussions with India about potential manufacturing investments and has been courted by governments including South Korea and Indonesia.

Production in China, however, brings a cost advantage of as much as 20% over EVs made elsewhere, rival Nio (9866.HK) has said, citing the country’s grip over the supply chain and raw materials.

But as government concerns about oversupply rise and Tesla pushes for its Shanghai expansion, progress by aspiring market entrant Chinese consumer electronics maker Xiaomi (1810.HK) to gain a production permit has been slow.

U.S. luxury EV maker Lucid Group (LCID.O) is also keen to make cars in China but has been advised that the possibility was low, industry sources said.

At that time, analysts suggested China was using Tesla to help spur local EV development because its strength would force weaker players to move faster to survive.

“The script has definitely flipped,” said Automobility’s Russo. “China needed Tesla to open the market for retail consumers, but Tesla needs China, because the supply chain benefits of being here and the competitive bar that’s set here makes Tesla a more competitive company globally. And that’s the missed opportunity if they don’t get that unit of capacity.”

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Superwoman P Nithya who Conquers Guinness World Records and Everest World Record

Superwoman P Nithya who Conquers Guinness World Records and Everest World Record

Chennai, India (DT) – Nithya, an extraordinary individual hailing from the serene district of Krishnagiri in Tamil Nadu, has carved an inspiring path for herself, overcoming barriers and achieving remarkable feats in education, social service, and personal accomplishments.


READ MORE : 3 years old Indian girl S. Jaanvi achieved World Records

With an illustrious career in teaching, a loving family, and an unwavering dedication to making a positive impact in society, P. Nithya has become a role model for women around the world. Her story is one of resilience, determination, and the pursuit of excellence.

Early Life and Education:

Born in Kaveripattinam, Krishnagiri District, P. Nithya was the fifth daughter in a close-knit family. From a young age, she displayed a keen interest in academics, particularly in the field of mathematics. Fuelled by her passion for learning, she pursued higher education and attained M.Sc., M.Ed., and M.Phil. degrees in Mathematics.

Career and Social Service:

  1. Nithya’s career in education spanned over a decade, during which she worked in both private schools and polytechnic colleges. Her commitment to nurturing young minds and providing quality education earned her the admiration of students and colleagues alike. Additionally, she dedicated herself to various social causes, founding the Annai Trust in Velachery, Chennai.

World Records and Achievements:

  1. Nithya’s pursuit of excellence extended beyond the classroom. She holds an astounding ten Individual World Records and ten Team World Records, demonstrating her exceptional abilities and determination. Her accomplishments include being a Guinness World Record holder and achieving records in mountaineering, poetry, and various other domains.

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Al Pacino, 83, is a father for the fourth time, welcoming son Roman with Noor Alfallah

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Al Pacino, 83, is a father for the fourth time, welcoming son Roman with Noor Alfallah

(AP)- Al Pacino is a father for the fourth time.

Pacino’s publicist, Stan Rosenfield, confirmed to The Associated Press on Thursday that the actor, 83, and 29-year-old Noor Alfallah welcomed a son named Roman.

No other details, including when or where the baby was born, were released. The news was first reported by TMZ.

He is Pacino’s fourth child and first with Alfallah. Pacino has a 33-year-old daughter, Julie Marie, with acting coach Jan Tarrant and 22-year-old twins Anton and Olivia with actor Beverly D’Angelo.


READ MORE : Al Pacino expecting fourth child at 83 with his 29-year-old girlfriend Noor Alfallah

Pacino and Alfallah reportedly began dating last year. She describes herself as a “raconteur” on her Instagram page and her IMDB page notes that she’s a producer on two movies currently in post-production, including “Billy Knight,” starring Pacino.

Pacino’s baby news follows close on the heels of that of longtime friend and fellow actor Robert De Niro. A representative for the 79-year-old actor confirmed last month that De Niro had become a father for the seventh time.

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African leaders set to meet with Ukraine president , Russia in bid to end war

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African leaders set to meet with Ukraine president , Russia in bid to end war

KYIV, Ukraine (AP) — South African President Cyril Ramaphosa arrived in Ukraine on Friday as part of a delegation of African leaders and senior officials seeking ways to end Russia’s war, though an air raid in Kyiv during their visit was a grim reminder of the challenge they face.

Ramaphosa’s press service said that he was met by a Ukrainian special envoy and South Africa’s ambassador at a rail station near Bucha, the Kyiv suburb where bodies of civilians lay scattered in the streets following Russian forces’ withdrawal last spring.

The Bucha visit was symbolically significant, as its name has come to stand for the barbarity of Moscow’s military since its full-scale invasion of Ukraine in February 2022. The brutal Russian occupation of Bucha left hundreds of civilians dead in the streets and in mass graves.

The African delegation also includes senior officials from Zambia, Senegal, Uganda, Egypt, the Republic of the Congo and the Comoro Islands.


READ MORE : Russia says Ukraine is launching major attacks; Kyiv accuses Moscow of misinformation

Shortly after they placed commemorative candles at a small memorial outside St. Andrew’s Church in Bucha, a town on the northwestern outskirts of Kyiv, air raid sirens began to wail in the capital and Mayor Vitali Klitschko reported an explosion in the Podilskiy district, one of the city’s oldest neighborhoods.

“Missiles still flying at Kyiv,” Klitschko wrote on his Telegram channel.

Ramaphosa said last month that Ukrainian President Volodymyr Zelenskyy and Russian President Vladimir Putin had agreed to separate meetings with the delegation.

The delegation was set to travel to St. Petersburg later Friday, where Russia’s top international economic conference is taking place, and meet with Putin on Saturday.

Officials who helped prepare the talks said the African leaders not only aimed to initiate a peace process but also assess how Russia, which is under heavy international sanctions, can be paid for the fertilizer exports Africa desperately needs.

They are also set to discuss the related issue of ensuring more grain shipments out of Ukraine amid the war and the possibility of more prisoner swaps.

The African peace overture comes as Ukraine launches a counteroffensive to dislodge the Kremlin’s forces from occupied areas, using Western-supplied advanced weapons in attacks along the 1,000-kilometer (600-mile) front line. Western analysts and military officials have cautioned that the campaign could last a long time.

China has also been working on a peace proposal, but it appears to have few chances of success as the warring sides appear no closer to a cease-fire.

Ukrainian troops recorded successes along three stretches of the front line in the country’s south and east, a spokesman for Ukraine’s General Staff said in a statement Friday.

According to Andriy Kovalev, Ukrainian forces have moved forward south of the town of Orikhiv in the Zaporizhzhia region, in the direction of the village of Robotyne, as well as around Levadne and Staromaiorske, on the boundary between Zaporizhzhia and the Donetsk province further east.

Kovalev also said that Ukrainian troops advanced in some areas around Vuhledar, a mining town in Donetsk that was the site of one of the main tank battles in the war so far.

It wasn’t possible to indepenently verify the claims.

Russian shelling on Thursday and overnight killed two civilians and wounded two others in the southern Kherson region, its Gov. Oleksandr Prokudin said.

Russian forces over the previous day launched 54 strikes across the province, using mortars, artillery, multiple rocket launchers, drones, missiles and aircraft, according to Prokudin.

Ten people were wounded over that same period in the eastern Donetsk region, local Gov. Pavlo Kyrylenko said.

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Tornado devastates Texas Panhandle town, killing 3 and injuring dozens

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Tornado devastates Texas Panhandle town, killing 3 and injuring dozens

PERRYTON, Texas (AP) — A tornado ripped through the Texas Panhandle town of Perryton on Thursday, killing three people, injuring dozens more and causing widespread damage as another in a series of fierce storms carved its way through Southern states.

The National Weather Service in Amarillo confirmed that a tornado hit the area Thursday afternoon. Perryton Fire Chief Paul Dutcher told reporters that three people were killed in the storm.

He said at least one person was killed in a mobile home park that took a “direct hit” from a tornado. Dutcher said at least 30 trailers were damaged or destroyed. At 6 p.m., firefighters were rescuing people from the rubble.

First responders from surrounding areas and from Oklahoma descended on the town, which is home to more than 8,000 people and about 115 miles (185 kilometers) northeast of Amarillo, just south of the Oklahoma line.

Storm chaser Brian Emfinger told Fox Weather that he watched the twister move through a mobile home park, mangling trailers and uprooting trees.


READ MORE : Ukrainian dam destroyed, thousands evacuated due to flooding

“I had seen the tornado do some pretty serious destruction to the industrial part of town,” he said. “Unfortunately, just west of there, there is just mobile home, after mobile home, after mobile home that is completely destroyed. There is significant damage.”

There was no immediate word on the tornado’s size or wind speeds, meteorologist Luigi Meccariello said.

Nearly 50,000 customers were without electricity in Texas and Oklahoma, according to the poweroutage.us website.

Ochiltree General Hospital in Perryton on Facebook said “Walking/wounded please go to the clinic. All others to the hospital ER.”

The hospital also said an American Red Cross shelter had been set up at the Ochiltree County Expo Center.

“We got slammed” by patients, said Kelly Judice, the hospital’s interim CEO.

“We have seen somewhere between 50 and 100 patients,” Judice said, including about 10 in critical condition who were transferred to other hospitals.

Patients had minor to major trauma, ranging from “head injuries to collapsed lungs, lacerations, broken bones,” she said.

Chris Samples of local radio station KXDJ-FM said the station was running on auxiliary power.

“The whole city is out of power,” he said.

Texas Gov. Greg Abbott said Thursday he had directed the state Division of Emergency Management to help with everything from traffic control to restoring water and other utilities, if needed.

By evening, the weather front was moving southeast across Oklahoma. The weather service said a second round of storms would continue to move through that state and parts of Texas through the evening while the risk of severe weather, including tornados, remained for the metropolitan Oklahoma City area.

Elsewhere in Texas and other Southern states stretching to Florida, heat advisories were in effect Thursday and were forecast into the Juneteenth holiday weekend with temperatures reaching toward 100 degrees Fahrenheit (38 degrees Celsius). It was expected to feel as hot as 110 degrees Fahrenheit (43 degrees Celsius).

The storm system also brought hail and possible tornados to northwestern Ohio.

A barn was smashed and trees toppled in Sandusky County, Ohio, and power lines were downed in northern Toledo, leaving thousands without power. The weather service reported “a severe thunderstorm capable of producing a tornado” over Bellevue and storms showing “signs of rotation” in other areas.

It was the second day in a row that powerful storms struck the U.S. On Wednesday, strong winds toppled trees, damaged buildings and blew cars off a highway from the eastern part of Texas to Georgia.

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Tori Bowie, an elite Olympic athlete, died of complications from childbirth

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Tori Bowie, an elite Olympic athlete, died of complications from childbirth

USA (NPR) – She was once the fastest woman in the world. So when Tori Bowie was found dead last month at just 32 years old, it rocked the sport of track and field. And now the tragedy of her death is fully known: Bowie was eight months pregnant, and died due to complications from childbirth.

The revelation came from the Orange County Medical Examiner’s Office in Florida, which just released its autopsy report on Bowie. The report concludes that Bowie, who was found in bed alone in a home, had been undergoing labor.

Bowie, whose career highlights include a 100-meter world championship and three Olympic medals (one of them gold), was found deceased on May 2, during a welfare check. The local sheriff’s office had sent deputies to check on her after she wasn’t seen for several days.


READ MORE : Hollywood Actor Treat Williams dies at 71 after motorcycle accident

Natural causes are cited in autopsy report

The elite athlete died from natural causes, Associate Medical Examiner Chantel Njiwaji wrote in her autopsy report, citing evidence of Bowie undergoing labor when she died. The toxicology report came back negative.

Njiwaji cited possible complications from respiratory distress and eclampsia. Eclampsia, like preeclampsia, is a disorder related to high blood pressure during pregnancy. The dangers of the two conditions are well-documented, even if their precise causes aren’t yet known.

“Preeclampsia is a sudden spike in blood pressure,” according to the National Institutes of Health. “Eclampsia is more severe and can include seizures or coma.”

The autopsy report listed the weight for Bowie, who was 5’9″, as 96 pounds. It also repeatedly described her body and organs as being in normal condition.

Bowie’s death highlights risks among Black Americans

Black Americans face an elevated risk of preeclampsia and eclampsia, the NIH says, contributing to a higher death rate before and after childbirth.

“The maternal death rate among Black Americans is much higher than other racial groups,” NPR reported in March; “in 2021 it was 69.9 per 100,000, which is 2.6 times higher than the rate for White women.

The challenges of becoming a mother are also particularly acute for track athletes — a cause that has prompted Allyson Felix, Bowie’s former teammate on the U.S. relay team, to call for wide-reaching improvements.

Just last year, Felix, the most decorated U.S. track and field athlete in history, described the desperation and fear she felt in 2018, when she worked out in darkness in 4 a.m., so no one would know about her pregnancy.

“I was six months pregnant, and I was scared enough to train in the dark so that no one would see the life that was growing inside of me,” Felix said in a TED talk.

But before all of that, Bowie faced obstacles beyond her control. When she was 2 years old, her mother placed her and her sister into foster care, before her grandmother later gained guardianship — and instilled life lessons in Bowie.

That conviction helped Bowie win it all in 2017, when she nipped Marie-Josee Ta Lou of the Ivory Coast by 0.01 seconds in the 100 meters, thanks to a phenomenal lean. Bowie thrust herself over the line and into the ground — but when she stood back up, she was the world champion.

But after reaching the greatest heights in her sport, Bowie was sidelined by injury in the spring of 2018, when she tore her quad muscle. She struggled to return, most notably when she dropped out of the women’s 100-meter semifinals at the 2019 World Athletics Championships in Doha, an event in which she was the defending champion.

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Extraction 2 Review: Chris Hemsworth And Team Crank Up Everything In Next-Level Action Sequel

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Extraction 2 Review: Chris Hemsworth And Team Crank Up Everything In Next-Level Action Sequel

DTBEATS (TG) – Once again, as if wound up by an enormous key fitted into the space between his shoulder blades, Chris Hemsworth comes lumbering out for Netflix’s burgeoning Extraction franchise, his muppety-handsome features scrunched into an expression of determination with a soupçon of sensitivity. Screenwriter Joe Russo and director Sam Hargrave have reunited to extrude another calorific portion of action content from their creative intestines and Hemsworth again plays Tyler Rake, the tough guy mercenary with a heart of gold whom we kind of assumed was dead at the end of the previous movie but turns out to have been just very very unwell.


READ MORE : Extraction 2: Chris Hemsworth Welcomes Thor Co-Star to Franchise in New Clip

Rake’s quasi-corpse is discovered and given remedial attention in an outrageously perfunctory montage at the beginning of this film, there’s a spell in some luxury-private hospital in Dubai and then Tyler is as good as new, flown in to save his ex-wife’s sister and her kids from her abusive Georgian mob-boss husband.

(That ex-wife must have some serious cash, incidentally, to bankroll this kind of operation.) His handler Nik (Golshifteh Farahani) is back in the frame, this time doing a lot more actual fighting, including some close-quarters martial arts stuff and stabbing bad guys in the thigh with a little serrated knife – although kicking ass isn’t exactly Farahani’s skillset. Our hero also does a fair bit of dangling off the side of very tall sleek glass towers, although it isn’t in the Tom Cruise league.

There are cameos from Idris Elba, cheerfully phoning it in as the guy who recruits Tyler to this new job, and Olga Kurylenko, piteously emoting her way through a couple of short scenes as the ex-wife, who still has issues about the suboptimal way Tyler behaved in the marriage. The first Extraction was entertaining enough but this new one is just cynically about extracting the cash.

  • Extraction 2 is released on 16 June on Netflix.

Based on the 2014 graphic novel Ciudad by Andre Park, screenwriters Joe and Anthony Russo and artist Fernando Leon Gonzalez, the franchise starter was notable for its single-mindedness of purpose, its dedication to delivering action and little else; there’s virtually no small talk, scarcely any moments of quiet or intimacy that would allow for such baggage as intimate conversation, a nice dinner, a warm bath. No, where Tyler Rake goes, guns go with him and he never seems to run out of ammo — nor does the film. But inquiring minds want to know; has anyone ever had that name Rake in real life? True, in the film it’s a surname, but bambinos will likely be named after him nonetheless.

Based on the 2014 graphic novel Ciudad by Andre Park, screenwriters Joe and Anthony Russo and artist Fernando Leon Gonzalez, the franchise starter was notable for its single-mindedness of purpose, its dedication to delivering action and little else; there’s virtually no small talk, scarcely any moments of quiet or intimacy that would allow for such baggage as intimate conversation, a nice dinner, a warm bath. No, where Tyler Rake goes, guns go with him and he never seems to run out of ammo — nor does the film. But inquiring minds want to know; has anyone ever had that name Rake in real life? True, in the film it’s a surname, but bambinos will likely be named after him nonetheless.

It’s hard to think of many films more fundamentally violent to their core than the two Extraction movies; others stop to talk once in a while, but this one mostly foregoes that and just fires away, often madly, extravagantly, gratuitously; for much of the time, it seems like that’s almost all the film is about, which will be just fine with a large portion of its intended audience.

VIA : DEADLINE AND THE GUARDIAN

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Perodua launches affordable Axia E model, Cheapest car in Malaysia

Perodua launches affordable Axia E model, Cheapest car in Malaysia

PETALING JAYA (Paultan) – The Perodua Axia E is back, just as the carmaker promised when it launched the second-generation Axia in February this year. To be clear, the Axia E being introduced (or reintroduced depending on how you see it) today is of the first-generation model, albeit with some updates which we’ll get to shortly.

Affordability has always been a key selling point of the Axia E, which is why it was popular with driving schools and car buyers who just wanted a basic runabout with four wheels and a boot. However, the second-generation Axia did not arrive with an E variant, with the G being the base option that is priced at RM38,600 on-the-road (OTR) without insurance.

By comparison, the E variant of the previous Axia last sold at RM24,090, making it the cheapest car you could buy new in Malaysia. As such, Perodua saw fit to ensure the “driving school spec” Axia E lives on to fulfil its role as the most affordable car in Malaysia as well as ensuring driving schools are catered to.

The good news is the Axia E is even cheaper than before, retailing at RM22,000 OTR without insurance (includes a five-year warranty), or RM2,090 less than the previous one. This price is applicable in both East and West Malaysia, a first for a Perodua model, and the company is aiming to sell up to 1,500 units of the Axia monthly (includes individual owners and fleet sales).


READ MORE : Kenya Diplomat to Malaysia Francis Ndegwa meets with Malaysian businessmen

“While we do not dictate who our customers are, we believe that having this model would be a welcome option by majority of Malaysians. The Perodua Axia E has been market tested and proven over years and we believe that this variant would serve its current role of giving motorcycle owners an opportunity to own a new car,” said Datuk Seri Zainal Abidin Ahmad, president and CEO of Perodua.

Perodua boss Dato’ Seri Zainal Abidin Ahmad said this is in line with Perodua’s commitment to bring reliable, dependable, and affordable mobility to the masses.

“This is because Axia E has an existing stock of 3,000 units and is ready to be delivered immediately after ordering,” he said after the ceremony to introduce Axia E here today.

Also present were the Chairman of PERODUA, Tan Sri Asmat Kamaludin and the President of Perodua Auto Corporation Sdn Bhd, Masaki Ogita.

Their sales target is 1.5k units a month. And they’ve got a little over a months stock ready.

Commenting further, Zainal Abidin said, Axia E has been tested and proven in the market for many years and the group believes that the variant will fulfill its current role in giving motorcycle owners the opportunity to own a new car.

“Based on discussions with financial institutions, we found that only RM300 is needed to pay the hire purchase cost every month to own the Axia E.

“This is the same cost that needs to be paid to buy a new motorcycle on hire purchase,” he said.

The difference implemented by PERODUA for the Axia E model is also to introduce the same selling price for the whole of Malaysia compared to the previous practice where the selling price of Peninsular Malaysia, Sabah and Sarawak is different.

He said, since its launch in 2014 until May 31, 2023, PERODUA has recorded the registration of 606,756 Axia model units, including the brand new Axia that was launched last February.

Zainal Abidin said, the Axia E is based on the Perodua Axia model that was introduced in 2017 and it was certified with a four-star ASEAN NCAP rating by the Malaysian Institute of Road Safety Research (MIROS).

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Paultan with AimanI Abdullah and Bharian)

 

European Central Bank hikes rates again to battle inflation after US Fed hits pause

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European Central Bank hikes rates again to battle inflation after US Fed hits pause

FRANKFURT, Germany (AP) — The European Central Bank pressed ahead with another interest rate hike Thursday and pledged more are on the way, aiming to crush inflation that is driving up the cost of groceries, utility bills and summer vacations even after the U.S. Federal Reserve took a break from its own string of increases.

The boost of a quarter-percentage point, to 3.5%, is the eighth straight increase since July 2022 for the 20 countries that use the euro currency. That is an unprecedentedly swift campaign to tighten the flow of credit to the economy as the bank seeks to return inflation to its target of 2% from 6.1%.

ECB President Christine Lagarde said more hikes, including at the bank’s next meeting on July 27, are in the cards.

“Are we done? Have we finished the journey? No, we’re not at destination. Do we still have ground to cover? Yes, we have ground to cover,” she said at a news conference.


READ MORE : Greece searches for hundreds feared missing after migrant boat sank, leaving 78 dead

Lagarde said the bank “will continue to hike at our next meeting. So we are not thinking about pausing, as you can tell.”

Central banks around the world are trying to wrestle down price spikes that have been squeezing households and businesses with higher bills for basics like food and rent but some are starting diverge in their decisions to avoid plunging their economies into further trouble.

The U.S. Federal Reserve suspended its series of rate hikes Wednesday as it assesses the impact of higher rates on economic growth and jobs. It takes months for rate hikes to work their way through to the economy, and a pause can be a chance to see if the medicine is working.

Nonetheless, Fed projections indicate two more rate hikes are possible this year. Central banks in Australia and Canada resumed rate increases last week after a pause — one sign of how widespread high inflation has become ingrained in the global economy.

Carsten Brzeski, global head of macro for ING bank, said the ECB is “increasingly taking the risk of worsening the economic outlook.”

“Still, despite good arguments against further rate hikes, the ECB simply cannot afford to be wrong on inflation,” he said in a research note. “The Bank wants and has to be sure that it has slayed the inflation dragon before considering a policy change.”

Higher rates fight inflation by raising the cost of borrowing for auto loans, mortgages and credit cards, reducing demand for goods that drives prices higher. But they also can weaken the economy and raise the risk of throwing the economy into recession.

That is a concern in Europe, where the economy contracted slightly in the last months of 2022 and the first three months of this year. Two straight quarters of falling output is one definition of recession.

But the job market is strong, with unemployment at its lowest since the euro currency was introduced in 1999 — at 6.5% — and hardly consistent with a real recession. It also signals more wage increases that could worsen inflation as employers compete for scarce workers.

The Euro Area Business Cycle Dating Committee, which uses employment as well as economic growth data in determining when a recession has occurred, found no recession at its last assessment March 27 and will revisit the question in November.

Consumer prices started rising as the global economy bounced back from the COVID-19 pandemic and created supply chain bottlenecks. Oil and natural gas prices also spiked due to Russia’s threats against Ukraine and after its February 2022 invasion. That also sent food and fertilizer prices soaring amid disruption to supplies from the warring countries, both major agricultural exporters.

Those pressures are starting to ease, but the initial burst of inflation is being reflected in higher wage demands and prices for services, even as energy prices have fallen in Europe in recent months.

Home prices in Europe started to fall in the last months of 2022, the first dip since 2015, one sign that the ECB’s policies are feeding through to the economy as mortgage costs deter homebuyers.

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