Skip to content
Search

Latest Stories

This Chinese auto-firm is now the world’s largest face mask maker

CHINESE electric vehicles maker BYD Co has announced that it is now the world's biggest face mask maker.

The company's Shenzhen facility in China now produces five million masks a day and is now further expanding capacity.


Besides, the plant also produces over 300,000 bottles of disinfectants per day.

The company has managed to expand production from 300,000 to 500,000 masks in a day and now goes to produce five million masks, since it started to manufacture masks from February 8, 2020.

That's equal to a quarter of China's entire mask production capacity in early February, says the company.

BYD Chairman and President Wang Chuanfu appointed a task force comprising 3000 engineers to build production lines at the existing plant using 90 per cent of in-house components.

The construction was completed in two weeks, according to the manufacturer.

"A production line for high-quality face masks requires about 1,300 parts for various gears, chains, and rollers, 90% of which are BYD's self-made parts," said Sherry Li, Director General of BYD's President Office.

China is the world biggest mask producer. The country produced about 44.8 million masks in a day on February 22, 2020, about 2.8 times more than February 1, according to the data provided by the National Development and Reform Commission.

BYD started as a battery maker for smartphones in 1995. It has diversified businesses and now produces internal combustion, battery and hybrid cars as well.

It also produces commercial cargo and passenger vehicles and has been supplying electric buses to Indian PSUs.

More For You

Piyush Goyal

Piyush Goyal recalled that in February, Narendra Modi and Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025. (Photo: Getty Images)

Getty Images

Trade talks with US moving forward positively, says Indian minister Goyal

INDIA’s commerce and industry minister Piyush Goyal on Thursday said that negotiations on the proposed trade agreement between India and the United States, which began in March, are progressing in a positive atmosphere and both sides are satisfied with the discussions.

He recalled that in February, Indian prime minister Narendra Modi and US president Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025.

Keep ReadingShow less
Baiju Bhatt

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. (Photo: Getty Images)

Baiju Bhatt named among youngest billionaires in US by Forbes

INDIAN-AMERICAN entrepreneur Baiju Bhatt, co-founder of the commission-free trading platform Robinhood, has been named among the 10 youngest billionaires in the United States in the 2025 Forbes 400 list.

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. Forbes estimates his net worth at around USD 6–7 billion (£4.4–5.1 billion), primarily from his roughly 6 per cent ownership in Robinhood.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London. (Photo: Getty Images)
Getty Images

Economy shows no growth in July amid political turbulence

UK's ECONOMY showed no growth in July, according to official data released on Friday, adding to a difficult week for prime minister Keir Starmer’s government.

The Office for National Statistics (ONS) said gross domestic product was flat in July, following a 0.4 per cent rise in June.

Keep ReadingShow less
India’s IT sector

India’s $283 billion IT industry, which contributes more than 7 per cent to the country’s GDP, has for over three decades provided services to major clients including Apple, American Express, Cisco, Citigroup, FedEx and Home Depot.

iStock

India’s IT sector faces uncertainty as US proposes 25 per cent outsourcing tax

INDIA’s IT sector is facing uncertainty as US lawmakers consider a 25 per cent tax on companies using foreign outsourcing services.

Analysts and lawyers said the proposal has led to customers delaying or re-negotiating contracts, raising concerns in India, the world’s largest outsourcing hub.

Keep ReadingShow less
Rachel Reeves

'Our economy isn't broken, but it does feel stuck,' Reeves said, speaking alongside the release of a finance ministry report on business property taxation, known as rates.

Getty Images

Reeves signals possible changes to business property taxes ahead of budget

CHANCELLOR Rachel Reeves said on Thursday she is considering changes to business property taxes to support small firms looking to expand, as part of her plans to boost growth.

Reeves’ comments come ahead of her annual budget on November 26, at a time when concerns about possible tax rises and inflation are weighing on businesses and households.

Keep ReadingShow less