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NIO to Make Power Products for Europe

Nio, a Chinese manufacturer of electric vehicles, is accelerating its global expansion by launching its first plant abroad in September to produce power items for the European market.

According to a statement released by Nio late on Friday, the plant in Pest, Hungary, will design & manufacture power products for European consumers, including battery-swapping stations.

In order to accelerate sales of its automobiles in nations like Germany, the Netherlands, Sweden, and Denmark in the second half of this year, Nio will hasten the building of battery swapping stations in Europe.

The promising Nio stock (NYSE: NIO) bumped 1.23% higher on Friday’s trading session to price at $19.73 a share.


As high inflation forces Americans to spend more on bills, young and low-income consumers are being hurt. Generation Z consumers and those with low credit scores are falling behind on credit card and auto loan payments and amassing credit card debt at a rate unseen since before the infamous pandemic.

Imports into Pakistan fell by over a third in July after a ban on non-essentials, according to the finance minister, who added that the improved trade situation will relieve pressure on the struggling rupee. July imports were $5 billion, down 35% from June's record monthly high of $7.7 billion, according to Miftah Ismail at a news conference in Islamabad. The central bank and Pakistan's statistics bureau still have not published data for July.


The U.S. dollar sank to a fresh six-week low against the Japanese yen on Monday morning as investors continued to bet that the Federal Reserve will refrain from tightening monetary policy in light of the U.S. economy's potential for a recession. The U.S. Dollar Index, which tracks the greenback against other major currencies, edged 0.09% lower to 105.695.


Gold prices dropped on Monday morning due to a rise in U.S bond yields, although expectations around less-aggressive Federal Reserve rate-hike trajectory dented the dollar and kept bullion near a three-week high. Gold futures declined by 0.20% to $1,778 per ounce.


Oil prices tumbled in Monday’s early hours as investors & traders prepare for the upcoming meeting of officials from OPEC and other major producers on supply adjustments, while underwhelming July factory data from China & Japan weighed on the outlook for demand. Brent crude futures dropped by 0.55% to $103.38 per barrel, while WTI crude barrels plunge by 1.07% to $97.56 a barrel.


USA: S&P500 +1.42%, Dow Jones Industrial Average +0.97%, Nasdaq Composite +1.81%

Europe: FTSE 100 +1.06%, DAX +1.52%, CAC 40 +1.72%

Asia: Nikkei 225 +0.69%, Hang Seng +0.08%, CSI 300 +0.45%, Nifty 50 +0.78 %


Dubai Airport Expects Travel Surge, Hikes Annual Forecast

The operator of Dubai International Airport said on Wednesday that over 14 million passengers passed through the airport in the second quarter, raising its forecast for the year to 62.4 million. The number of passengers increased for the seventh consecutive quarter as demand for international travel rises as pandemic restrictions around the world loosen.

According to a statement from Dubai Airports, the airport in Dubai processed 14.2 million passengers from April to June, more than tripling the 4.9 million that passed through security during the same period last year.

Jewelry Maker Pandora Goes Big on Lab Diamonds

Pandora, the globe’s largest jewelry manufacturer, announced on Tuesday that it shall proceed with its bet on lab-created diamonds, following its statement last year to stop selling mined diamonds.

In an effort to attract younger customers with less expensive, more sustainable stones that are guaranteed not to have come from war zones, the Copenhagen-based jewelry giant will introduce a collection which utilizes unmined diamonds in North America this month.

Following a smaller experimental launch in Britain last year, 269 locations are now open across the United States, Canada, and via the web.

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