logo
Slovenia extends fuel price regulation to highways to prevent inflation surge

Slovenia extends fuel price regulation to highways to prevent inflation surge

The Star19 hours ago

LJUBLJANA, June 12 (Xinhua) -- The Slovenian government on Thursday extended its gasoline price regulation to include highways and extended the overall policy for another six months to prevent excessive price increases.
"The main goal of the government is to keep gasoline prices low for people ... Based on this decree gasoline prices on highways will no longer be higher than elsewhere in the country," Deputy Prime Minister Matej Arcon told reporters after a regular government session.
The government has been regulating fuel prices outside highways since 2022. Prices are recalculated every 14 days.
Under the current regulation, which was set to expire on June 17, the price outside highways is fixed at 1.437 euros per liter for unleaded gasoline. Currently, highway prices are approximately 17 percent higher than that figure.
Authorities expect that the extended regulation will help contain inflation, which slowed to 1.8 percent year-on-year in May.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Zimbabwe's leather sector welcomes China's zero-tariff measures for African countries
Zimbabwe's leather sector welcomes China's zero-tariff measures for African countries

The Star

time15 minutes ago

  • The Star

Zimbabwe's leather sector welcomes China's zero-tariff measures for African countries

HARARE, June 13 (Xinhua) -- Zimbabwe's leather sector on Friday said it warmly welcomes China's zero-tariff measures covering all taxable products for 53 African countries, noting that the move will facilitate greater market access for African goods. "We find the removal of tariffs by China as a very positive move that will promote business between Africa and China," said Fungai Zvinondiramba, a councillor at the Zimbabwe Leather Development Council, an organization that promotes the Zimbabwe leather value chain. The councillor noted that the Chinese market has a strong appetite for leather crafts made in Africa. China announced on Wednesday that it will expand zero-tariff treatment to all 53 African countries with which it maintains diplomatic ties. To fully benefit from the zero-tariff move, Zvinondiramba said Zimbabwe's leather sector, particularly producers of exotic leather goods such as bags, belts, and shoes, is now seeking partnerships with Chinese firms to build a competitive leather value chain and further tap into the Chinese market. "Chinese relationship opens up opportunities for Africa in terms of exposure to a wide range of business support components like technology, but the biggest one is the market," he said. As local enterprises strive to enter the Chinese market, Zvinondiramba said they expect China to offer technological transfers to local businesses to expand operations. "On technology, we expect technological transfer so that we can develop our production capacity, and this is required for all our value chains," said Zvinondiramba.

Interview: China-Africa expo highlights deepening economic ties, says Zimbabwean expert
Interview: China-Africa expo highlights deepening economic ties, says Zimbabwean expert

The Star

time15 minutes ago

  • The Star

Interview: China-Africa expo highlights deepening economic ties, says Zimbabwean expert

HARARE, June 13 (Xinhua) -- The ongoing China-Africa Economic and Trade Expo (CAETE) showcases the deepening economic ties between China and Africa and serves as a platform for advancing pragmatic, mutually beneficial cooperation, a policy expert told Xinhua on Friday. "The ongoing CAETE shows that China and Africa can work together to develop pragmatic solutions that will enhance cooperation and mutual benefit, while enhancing sustainable development and modernization in Africa," Munetsi Madakufamba, executive director of the Southern African Research and Documentation Center, a Zimbabwe-based think tank, told Xinhua in a written interview. Noting that trade between China and Africa has expanded significantly since the inception of the Forum on China-Africa Cooperation (FOCAC) in 2000, Madakufamba said platforms such as CAETE help further deepen trade, drive Africa's industrialization and narrow trade disparities. "Africa aspires not only to import finished goods but also to develop its manufacturing sector, which requires the development of infrastructure and machinery to produce finished goods," he said, adding that Africa welcomes China to establish more manufacturing hubs in Africa to facilitate the continent's modernization and industrialization. Such cooperation, he added, would allow Africa to leapfrog with cutting-edge technology and build robust industrial capacity, while creating new trade and investment opportunities for both sides. Besides strengthening economic and trade relations, Madakufamba said that the expo also aligns with the 10 partnership action plans proposed at last year's FOCAC summit. During a ministerial meeting in Changsha city ahead of the expo, China announced plans to extend zero-tariff treatment on 100 percent of tariff lines to all 53 African countries with which it maintains diplomatic ties. Madakufamba praised this commitment as a major step forward in boosting trade and deepening Sino-African cooperation. "In today's environment characterized by trade wars and worldwide tariff impositions by the United States, the CAETE presents a platform for pragmatic solutions that have the potential to balance global trade," he said, noting that engaging with African entrepreneurs and innovators is essential to address the unique demands of the African market. The expo is further evidence of China's commitment to economic globalization, multilateralism, and the sharing of development gains with the world, he added.

Roundup: China, Africa seek increased opportunities in EV cooperation
Roundup: China, Africa seek increased opportunities in EV cooperation

The Star

time15 minutes ago

  • The Star

Roundup: China, Africa seek increased opportunities in EV cooperation

by Justice Lee Adoboe ACCRA, June 13 (Xinhua) -- China and African countries are seeking more opportunities for cooperation in electric vehicle (EV) development and manufacturing. During the 2025 China-Africa Automotive Development Forum held in Ghana earlier this week, experts, policymakers, investors, and engineers from China and African countries shared their views on the necessity and feasibility of EV development in Africa's automotive industry. Kojo Annobil, director at the Ghana Automotive Development Center (GADC), told Xinhua that Ghana would leverage its strong relations with China to include EVs in its automotive industry development agenda. In line with the new agenda, Ghana would revise its automotive development policy to make room for EV development in the country, he said. Under the revised policy, Annobil said the GADC would work with the government to introduce tax incentives on the importation of EV components that cannot be produced locally to make the final products more affordable to Ghanaians and promote EVs in the country. The revised policy would also capture knowledge transfer to enable the training of a pool of local engineers and technicians specialized in EVs, according to Annobil. "What we have to do is strengthen relationships with China and see how we can further the technology transfer going forward," he said. Seth Mahu, director in charge of renewable energy at the Ghanaian Ministry of Energy and Green Transition, said in a statement that Ghana has laid the groundwork for the manufacture of EVs. He said that with at least eight vehicle assembly plants in the country, including a Chinese company and a local entity, Ghana is now ready for the next step from assembling combustion vehicles to designing and producing EVs, tailored for African roads, powered by African minds, and built with African hands. On infrastructure, he said that Ghana is expanding the national EV charging network with solar-grid hybrid models to ensure resilience and sustainability. "With Ghana's abundant solar potential, our future charging infrastructure will not just be functional. It will be clean, decentralized, and smart. We plan to deploy, over the next five years, at least 100 rapid charging stations nationwide," the official added. Besides Ghana, Nigeria has also been paving the way for the green transition of the automotive industry. At the forum, Philip Iorliam Ianna, Nigerian engineer at the National Automotive Design and Development Council, revealed that Nigeria has pledged to achieve 100 percent in EV adoption by 2060, while vowing to reduce import duties and exempt value-added tax on EVs. Ianna noted that over 20 Nigerian companies are engaged in EV manufacturing, primarily focusing on electric two-wheelers. Although full-scale local production remains limited, these firms have laid the groundwork for expanding domestic capabilities, he said, expressing expectations of further collaboration with China in the area. Yang Yang, managing director of Zonda Tec Ghana Limited, a Chinese vehicle assembly plant in Ghana, announced that her company would soon start assembling EVs locally. "We are now building a state-of-the-art assembly plant dedicated to EVs, a game-changer that will put Ghana on the map as a leader in sustainable mobility," Yang said. Yang pledged efforts to synergize China's world-leading new energy vehicle (NEV) technologies with localized operational expertise, as well as capitalize on China's NEV sector growth and battery supply chain dominance to meet African market demands. She added that this new EV plant is more than just a factory; it is about creating vehicles that are affordable, reliable, and environmentally friendly, designed with African roads and African lives in mind. During the forum, multiple scholars and engineers from countries including China, Ghana, Kenya, and Nigeria presented their research projects in advanced EV technologies, while an exhibition mounted by Chinese auto companies showcased their newest brands.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store