MultiChoice DSTV channel, ZTN Prime, will broadcast the bail hearing of popular Zimbabwean business partners Mike Chimombe and Moses Mpofu on Tuesday.
The hearing was initially slated for January 17, and later brought forward by two weeks, and then postponed to January 7.
Chimombe and Mpofu are accused of defrauding the Presidential Goat Pass-On Scheme of US$7,7 million.
ZTN Prime is available on Channel 294.
South African Airways said it had cancelled flights to Perth and Sao Paulo on Thursday after receiving confirmation from the SAA Pilots Association that they planned to strike following a deadlock in pay talks.
SHANGHAI, Dec 5 (Reuters) – Automakers in China are ramping up exports of hybrid vehicles to Europe and planning more models for the key market, exposing the limits of the European Union’s electric vehicle tariff scheme.
The bloc’s latest EV tariffs to protect its auto industry from a flood of cheap Chinese imports do not apply to hybrid cars. That could see major brands such as China’s top EV maker BYD (002594.SZ), opens new tab continue expansion in the region, analysts say.
Some manufacturers are also shifting production and assembly to Europe to lower the cost around tariffs.
“The increase is driven by Chinese OEMs shifting toward PHEVs (plug-in hybrids) as a way to sidestep the new EU tariffs on BEV (battery-powered EVs) imports from China,” said Murtuza Ali, an analyst at Counterpoint Research.
He expects China’s hybrid exports to Europe to grow 20% this year and even faster next year.
EU tariffs of up to 45.3% on Chinese EV imports came into effect in late October to counter what the European Commission says are unfair subsidies that helped create spare production capacity of 3 million EVs per year in China, twice the size of the EU market.
The anti-subsidy investigations on Chinese EV imports, which began in October 2023, and slowing car sales in China from an economic slowdown, have led some automakers to change their European strategy to focus more on hybrid exports, the data shows.
That helped exports of plug-in hybrids and conventional hybrids account for 18% of China’s total vehicle sales to Europe in the third quarter, doubling from 9% in the first quarter. The proportion of EV shipments, however, fell to 58% from 62% during the same period.
The trend is likely to gain further momentum.
China, which overtook Japan as the world’s biggest auto exporter last year aided by its dominance in EVs, is stepping up its export drive to address overcapacity at home, analysts say.
Given 100% tariffs on Chinese-made EVs in the United States and Canada, Europe is also one of the most obvious outlets for Chinese auto makers.
The European Commission did not immediately reply to a request for comment on rising hybrid imports from China.
Major Chinese automakers could upend the European plug-in hybrid market dominated by European and Japanese firms as they meet rising demand for affordable cars with better fuel economy amid rising inflation.
BYD is taking on Volkswagen (VOWG_p.DE), opens new tab and Toyota (7203.T), opens new tab in Europe with its first plug-in hybrid model for the region, the Seal U DM-i.
The model is priced from 35,900 euros ($37,700), 700 euros lower than VW’s best-selling PHEV model Tiguan and 10% cheaper than Toyota’s C-HR PHEV.
It is also considering production of both EVs and hybrids in its Hungarian plant, Chinese official media China Auto News reported.
“The segment could see bigger growth potentials with Chinese automakers bringing more affordable options to Europe that are attractive to cost-sensitive consumers,” said Yale Zhang, managing director at Automotive Foresight.
SAIC (600104.SS), opens new tab, whose EV exports to the EU face the highest additional rate of 35.3%, has said it plans products with various powertrain systems for the European market.
Geely (0175.HK), opens new tab, China’s second-largest automaker by sales, launched a new plug-in hybrid under its brand Lynk & Co for Europe last month.
“The recent increased introduction of electrified hybrid models to markets around the world by global automakers is in line with consumer demands and purchasing trends,” Geely said in response to Reuters questions. It did not comment on trade restrictions.
Japanese automakers too are taking advantage of the growth of conventional hybrids in Europe this year and addressing their overcapacity problems in China.
Honda (7267.T), opens new tab, which suffered a 29% slump in China vehicle sales in the first nine months of this year, exports two conventional hybrids, one plug-in hybrid and one pure EV model from China to Europe.
While increasing exports from China could trigger intense price competition in Europe’s hybrid vehicle market, some experts caution Chinese firms are likely to tread more carefully for fear of sparking another round of EU tariffs.
“If BYD takes Qin Plus to Europe at a price of 20,000 euros, I am sure it would trigger another earthquake,” Zhang said, referring to its hybrid sedan.
President-elect Donald Trump in late November pledged tariffs on the United States’ three largest trading partners – Canada, Mexico and China – detailing how he will implement campaign promises that could trigger trade wars.
Here are companies that may be affected (by sector, in alphabetical order):
Volkswagen’s (VOWG_p.DE), opens new tab Audi plant in San Jose Chiapa, Mexico, makes the Q5, employing just over 5,000 people. It produced nearly 176,000 cars in 2023, its website showed. In the first half of 2024, nearly 40,000 were exported to the U.S., according to the Mexican Automotive Manufacturers Association.
BMW’s (BMWG.DE), opens new tab plant in San Luis Potosi, Mexico, produces the 3 Series, 2 Series Coupe and M2, with nearly all the output going to the U.S. and other markets worldwide, according to the carmaker. From 2027, it will produce the all-electric ‘Neue Klasse’ model line.
Chinese EV maker BYD (002594.SZ), opens new tab has been scouting for locations to build a plant in Mexico but has said repeatedly that the factory will serve the domestic market and not produce cars to be sold in the U.S.
Honda Motor (7267.T), opens new tab sends 80% of its Mexican output to the U.S. market and its chief operating officer Shinji Aoyama warned on Nov. 6 that it would have to think about shifting production if the U.S. were to impose permanent tariffs on vehicles imported from the country.
JAC Motors (600418.SS), opens new tab has since 2017 had a joint venture in Mexico with Giant Motors to assemble JAC brand vehicles. SAIC-owned (600104.SS), opens new tab MG in August announced plans to build a plant in the country.
South Korea’s Kia Corp (000270.KS), opens new tab has a factory in Mexico that makes its own vehicles and a small number of Santa Fe SUVs for its affiliate Hyundai Motor (005380.KS), opens new tab for U.S. exports.
Mazda (7261.T), opens new tab exported around 120,000 vehicles from Mexico to the United States in 2023. Mazda President Masahiro Moro said on Nov. 7 that the tariff issue is “not a problem that can be solved by individual companies” and it would carefully examine the details before deciding its response.
Nissan Motor (7201.T), opens new tab has two plants in Mexico where it makes the Sentra, Versa and Kicks models for the U.S. market. It produced nearly 505,000 vehicles in Mexico in the first nine months of 2024. The company does not disclose how many of those were exported to the U.S. market.
Stellantis (STLAM.MI), opens new tab operates two assembly plants in Mexico: Saltillo, which makes Ram pick-ups and vans, and Toluca, for the Jeep Compass mid-sized SUV. The Franco-Italian group also owns two assembly plants in Ontario, Canada: Windsor, where it makes Chrysler models, and Brampton, currently under retooling and scheduled to resume production in 2025 with a new Jeep model.
Toyota Motor (7203.T), opens new tab builds its Tacoma pick-up truck at two plants in Mexico. It sold more than 230,000 of them in the U.S. in 2023, representing about 10% of its total sales in that market. Toyota used to produce the Tacoma in the U.S. but now ships all of them from Mexico, which accounts for most of the production at the plants.
Volkswagen’s (VOWG_p.DE), opens new tab factory in Puebla is the largest auto plant in Mexico and one of the largest in the VW Group, according to the carmaker’s website. Nearly 350,000 cars were made there in 2023, including the Jetta, Tiguan and Taos, all for export to the U.S.
AUTOLIV
Sweden’s Autoliv , the world largest maker of airbags and seat belts, said it employs around 15,000 staff in Mexico, declining to comment on exports into the U.S. from there.
Tyre maker Michelin (MICP.PA), opens new tab has two plants in Mexico — Queretaro and Leon — and three in Canada: Pictou, Bridgewater and Waterville.
Chinese seat maker Yanfeng Automotive Interiors have been producing in Mexico for years to supply automakers including General Motors (GM.N), opens new tab and Toyota, which had relocated their capacity to Mexico to lower costs.
Other part makers with plants in Mexico serving automotive production for the U.S. market include Italian tyremaker Pirelli (PIRC.MI), opens new tab, Italian premium brake maker Brembo (BRBI.MI), opens new tab and Italy’s Eurogroup Laminations (EGLA.MI), opens new tab.
Eurogroup Laminations, which has Tesla (TSLA.O), opens new tab among its clients, specialises in stators and rotors, two key components of electric motors and generators.
U.S. automaker Tesla encouraged its Chinese suppliers to set up plants in Mexico in 2023 to mainly supply its planned factory in Mexico.
Tesla originally planned to start production in Mexico in early 2025 but has largely shifted to an expansion plan for its Texas plant.
Tech giant Apple plans to invest in a manufacturing plant in Indonesia that produces components for smartphones and other products, Indonesia’s investment minister said on Thursday.
Rosan Roeslani told reporters that Apple (AAPL.O), opens new tab and Indonesia are still ironing out details of the planned investment.
The minister had said earlier this week that Indonesia was expecting a $1 billion investment from the tech company.
Bitcoin catapulted above $100,000 for the first time on Thursday, a milestone hailed even by sceptics as a coming-of-age for digital assets as investors bet on a friendly U.S. administration to cement the place of cryptocurrencies in financial markets.
Once it broke $100,000 in Thursday’s Asian morning, boosted by U.S. President-elect Trump’s nomination of pro-crypto Paul Atkins to run the Securities and Exchange Commission, it was soon at an all-time high of $103,619, a surge of about 6% on the day. It was last fetching $102,650.
The total value of the cryptocurrency market has almost doubled over the year so far to hit a record just shy of $3.8 trillion, according to data provider CoinGecko. By comparison, Apple (AAPL.O), opens new tab alone is worth about $3.7 trillion.
Bitcoin’s march from the libertarian fringe to Wall Street has minted millionaires, a new asset class and popularised the concept of “decentralised finance” in a volatile and often controversial period since its creation 16 years ago.
Bitcoin has more than doubled in value this year and is up more than 50% in the four weeks since Donald Trump’s sweeping election victory, which also saw a slew of pro-crypto lawmakers being elected to Congress.
“We’re witnessing a paradigm shift,” said Mike Novogratz, founder and CEO of U.S. crypto firm Galaxy Digital.
“Bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream – this momentum is fuelled by institutional adoption, advancements in tokenisation and payments, and a clearer regulatory path.”
Trump embraced digital assets during his campaign, promising to make the United States the “crypto capital of the planet” and to accumulate a national stockpile of bitcoin.
“We were trading basically sideways for about seven months, then immediately after Nov. 5, U.S. investors resumed buying hand-over-fist,” said Joe McCann, CEO and founder of Asymmetric, a Miami digital assets hedge fund.
Bitcoin’s proponents cheered Trump’s nomination of Atkins to the SEC.
A former SEC commissioner, Atkins has been involved in crypto policy as co-chair of the Token Alliance, which works to “develop best practices for digital asset issuances and trading platforms,” and the Chamber of Digital Commerce.
“Atkins will offer a new perspective, anchored by a deep understanding of the digital asset ecosystem,” said Blockchain Association CEO Kristin Smith.
“We look forward to working with him … and ushering in – together – a new wave of American crypto innovation.”
A slew of crypto companies including Ripple, Kraken and Circle are also jostling for a seat on Trump’s promised crypto advisory council.
Russian President Vladimir Putin has threatened to strike Ukraine again with a new nuclear-capable ballistic missile following Moscow’s latest widespread attack on critical energy infrastructure.
More than a million households in Ukraine were left without power following the overnight bombardment, authorities in the country said Thursday. It’s Russia’s 11th large-scale assault on Ukraine’s energy supplies this year alone, according to the Energy Ministry in Kyiv, a strategy that has caused nationwide rolling blackouts.
Speaking at a security summit in Kazakhstan Thursday, Putin claimed the overnight attacks were a response to strikes on Russian territory using US-made ATACMS missiles. He also warned he would consider further launches of Russia’s new “Oreshnik” medium-range ballistic missile, first fired at Ukraine’s Dnipro region last week.
“We will respond to the ongoing strikes on Russian territory by Western-made long-range missiles, including the possible continuation of the Oreshnik test in combat conditions,” he said.
Putin also praised US President-elect Donald Trump, describing him as an “intelligent and experienced” politician capable of finding “solutions,” as tensions rise between Moscow and Kyiv’s Western partners.
The Russian leader claimed his forces hit 17 targets, describing them as “military facilities, defense industry facilities and their support systems,” without acknowledging the attacks on power infrastructure. “As I have said many times, there will always be a response from our side (to the use of American ATACMS),” Putin said.
Putin, who has previously said that Moscow considers itself entitled to use weapons against military targets belonging to countries that allow their weapons to be used against Russia, also threatened further strikes.
Russia’s Ministry of Defense is “selecting targets for hitting on Ukrainian territory,” he said. “These could be military facilities, defense industry enterprises or decision-making centers in Kyiv.”
Russia’s use of the Oreshnik ballistic missile, which carries multiple warheads, last week marked a decisive, and potentially dangerous moment in Moscow’s conflict with the West, and may be the first time such a weapon has been used in war.
South Korea is reeling after a whiplash six hours during which the country’s embattled president declared martial law but was forced to lift it amid widespread condemnation, throwing the country’s political landscape into chaos and uncertainty.
The saga began unfolding Tuesday night as most South Koreans prepared to go to sleep – prompting furious lawmakers to force their way past soldiers into parliament to strike down the decree, as protesters demanded President Yoon Suk Yeol’s removal and no return to the country’s painful authoritarian past.
By dawn, the president had caved – agreeing to lift martial law. But experts say he’s dug a political grave; opposition parties are trying to impeach him, police are investigating him for treason, and his own party is trying to oust him.
Questions are still swirling around the future of Yoon’s presidency, his party’s rule, and what happens next in one of the world’s most important economies and a major United States ally.
Here’s what we know.
Yoon declared martial law around 10:30 p.m. local time Tuesday in an unannounced late-night TV address, accusing the country’s main opposition party of sympathizing with North Korea and of “anti-state” activities.
He also cited a motion by the opposition Democratic Party, which has a majority in parliament, to impeach top prosecutors and reject a government budget proposal.
Martial law refers to granting the military temporary rule during an emergency, which the president has the constitutional ability to declare. But the announcement hit like a bombshell, sending shock waves through a democratic nation and sparking an astonishing late-night political showdown.
In a nation with a strong contemporary tradition of free speech, Yoon’s military decree banned all political activities, including protests, rallies, and actions by political parties, according to Yonhap news agency. It also prohibited “denying free democracy or attempting a subversion,” and “manipulating public opinion.”
In the end, the decree only lasted a few hours.
Taijul Islam snared five wickets for the 15th time in a Test innings to lead Bangladesh to a series-levelling 101-run victory over the West Indies on the fourth evening of the second and final test at Sabina Park on Tuesday.
After Jaker Ali’s test-best innings of 91 lifted the tourists to 268 all out in their second innings and left the home team with a daunting victory target of 287, left-arm spinner Islam broke the back of the Caribbean side’s effort with five for 50 as they were dismissed for 185 in the day’s final session.
Fast bowler Nahid Rana, whose maiden five-wicket haul in the first innings pulled Bangladesh back into contention, had the satisfaction of administering the final rites when he yorked last man Shamar Joseph for his only wicket of the innings.
“It’s a great feeling to win a test match abroad which we don’t often do and all the boys really put in a tremendous effort,” said player-of-the-match Islam.
Seamers Taskin Ahmed and Hasan Mahmud took two wickets each with Taskin emerging as the leading wicket-taker in the brief series with 11 victims to his name.
Kavem Hodge topscored for the West Indies with 55, while captain Kraigg Brathwaite played with unusual adventure at the top of the order in contributing 43 off 63 deliveries.
But they lost wickets at regular intervals and eventually succumbed in just 50 overs as Bangladesh swiftly avenged the 201-run mauling they endured in the first Test in Antigua a week earlier.
“We wanted to be positive and I thought we started well but obviously we couldn’t carry it through to the end of the day,” said a rueful Brathwaite.
This was Bangladesh’s first test victory in the West Indies since their 2-0 sweep over a depleted Caribbean side in 2009.
Earlier Ali’s belligerent innings, which occupied 106 deliveries and was embellished by eight fours and five sixes, tilted the balance heavily in favour of Bangladesh as the highest successful run-chase in a Test at Sabina Park was the 212 achieved by the West Indies over Sri Lanka in 2003.
Such was the extent of the 26-year-old right-hander’s dominance of the morning that he contributed 62 of the 75 runs added by the tourists after resuming at the overnight position of 193-5.
Alzarri Joseph and Kemar Roach took three wickets each for the West Indies, Joseph ending Ali’s quest for a maiden Test hundred when he was last out, caught at deep midwicket a half-hour before lunch. – SuperSport.
PRINCE Matore wants to close the year with a League and Cup double by winning the inaugural Champions of Champions tournament set to take place in Gweru this weekend.
The tournament will be held at the Bata Stadium on Saturday and Sunday.
The four teams promoted into the Premier Soccer League – Scottland FC, Kwekwe United, ZPC Hwange, and Triangle United – will clash in the maiden competition.
Matore guided Kwekwe United to success in the Central Region Division One championship race.
“This will be a meeting of regional champions and we want to be the champions and rule everyone.
“We are fully focused on winning the knockout competition.
“We know it won’t be easy but we are confident in our abilities and are looking forward to the challenge,” said Matore.
Matore urged Kwekwe United fans to come out and support the team over the weekend.
“We will need their energy and enthusiasm to drive us on and help us achieve our goal.
“We are all excited about the prospect of winning the competition and we hope that our fans will be able to join us in celebrating what we hope will be a successful weekend,” said Matore.
In the first semi-final, Kwekwe United will face Triangle United while Scotland FC will take on ZPC Hwange in the second semi-final.
