KTM Will Not Sell CFMoto Bikes In Europe Anymore; Here's Why
KTM company announced that from June 1, 2025, KTM will stop the distribution of CFMoto and its EV sub-brand Zeeho two-wheelers in the countries of Austria, Germany, UK, Spain and Switzerland. KTM was distributing CFMoto & Zeeho two-wheelers in the said countries since 2013. The decision is said to be 'mutual' and the manufacturing agreement between the two companies will continue as before. Also, CFMoto will continue to sell/distribute KTM motorcycles in China. Reports in EU suggest that a new importer will assume the responsibility of distributing CFMoto two-wheelers in the above-mentioned countries from June 2025.
Post COVID, KTM has been under tremendous pressure, with declining sales, unsold inventory and a massive debt of 2.5 billion euros. KTM was in a deep state of distress for the last few years. While parent company Bajaj Auto did infuse the ailing Pierer Bajaj AG with 50 million euros to stop it from going completely down under, the story of KTM's survival is far from over. The company sold MV Agusta back to its original owners, went into a 90-day self-administration period and laid off a significant number of employees, to reduce its financial burden.
Other measures include a planned reduction in manufacturing by up to 25 per cent, and outsourcing manufacturing to India and China. The company's creditors approved a restructuring plan of 750 million euros in March 2025.
In India, since the beginning of 2025, KTM has launched the 390 Adventure along with the 390 Enduro R in February and March, with the KTM 390 SMC R in the pipeline for a launch soon. While KTM technically does sell its big bikes here in India, its maximum sales come from its current motorcycle range of up to 400 cc.
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The Print
an hour ago
- The Print
Himachal opens Shipki La pass to tourists. Significance of historical link for trade & pilgrimage
As he opened the pass for domestic tourists, Sukhu became only the second state chief minister to visit the high-altitude pass after Yashwant Singh Parmar. Former prime minister Indira Gandhi visited the region 1968. The strategic pass near the Line of Actual Control (LAC) may also work as a new route for the sacred Kailash Manasarovar Yatra. The tourism initiative, launched by Chief Minister Sukhvinder Singh Sukhu Tuesday, also aims to bolster the local economy and foster cultural exchange in the remote border region. Kalpa (Kinnaur): Himachal Pradesh has opened the Shipki La pass, a motorable mountain pass at an altitude of 3,930 metres in the tribal Kinnaur district, to domestic tourists, a significant step towards revitalising border tourism and reviving hopes of resuming India-China trade through the route stalled since 2020. The state government secured the Ministry of Defence's approval to open border areas, including Shipki La, Lepcha, Giu, and Rani Kanda to domestic visitors, easing restrictions imposed due to security concerns. 'Tourists can now experience the pristine beauty of Shipki La, one of the highest motorable passes in the region,' Sukhu said at a public gathering at the pass. 'This initiative will strengthen the local economy, create employment opportunities, and boost tourism in Kinnaur's border areas.' He urged the central government to engage with China to restart trade through the pass and to consider Shipki La as a viable route for the Kailash Manasarovar Yatra, a pilgrimage revered by Hindus, Buddhists, and Jains. Also Read: Why Himachal is unwilling to release water for long-delayed Kishau multipurpose project A historical trade route Shipki La, through which the Sutlej River (known as Langqen Zangbo in Tibet) enters India, has long served as a vital trade corridor between India and Tibet. Historically, it facilitated the exchange of 37 export items from India—such as agricultural implements, copper products, clothes, tea, and spices—and 20 import items from China, such as wool, raw silk, yak tails, and herbal medicines. Trade through the pass resumed in 1992 after a hiatus following the 1962 India-China war but faced setbacks in recent years due to geopolitical tensions, notably the Doklam standoff, and was completely halted in 2020 amid the COVID-19 pandemic. 'There are immense possibilities for trade and cultural exchange through Shipki La,' Sukhu said. 'We will raise the matter of restarting trade with the central government to restore this centuries-old route.' Hishey Negi, the president of the Kinnaur Indo-China Trade Association, wrote to the Kinnaur deputy commissioner last month to expedite discussions with the Ministry of External Affairs to resume trade from 1 June. He requested 150 trade passes for local traders, emphasising the economic lifeline that the trade provides to border villages. Namgya Panchayat pradhan Baldev Negi shared historical context with ThePrint, recalling a trade treaty signed centuries ago between the princely states of Ladakh, Rampur Bushahr, and Guge in Tibet. 'The treaty was signed at a location called Lauhche, now in Tibet,' he said. 'I heard this from my elders. It was related to trade among these regions.' Norbu Chhoria, a former pradhan, provided further insights into the pass' history. 'The old name of Shipki La was Pema La, or Shared Gate, also known as Shared Pass. It was declared the Line of Actual Control post-1962, and later, the Indo-Tibetan Border Police named it Shipki La.' वर्षों के इंतज़ार के बाद शिपकी-ला अब पर्यटकों के लिए पूरी तरह खुल चुका है। यह केवल एक पर्यटन स्थल ही नहीं, बल्कि हिमाचल की संस्कृति, साहस और शांति से जुड़ने का एक द्वार है। शिपकी-ला न सिर्फ़ सैलानियों का स्वागत करेगा, बल्कि क्षेत्र की आर्थिकी को नया जीवन देगा। — CMO HIMACHAL (@CMOFFICEHP) June 10, 2025 A potential pilgrimage route Beyond trade, Shipki La holds spiritual significance as a potential gateway for the Kailash Manasarovar Yatra. 'I will meet the prime minister and present the case for starting the Kailash Manasarovar Yatra via Shipki La, which could be the easiest route for pilgrims,' Sukhu said. Saraswati Negi, local Mahila Mandal Pradhan, elaborated on the route's feasibility to serve this purpose. 'There is a route from Shipki La to Kailash Manasarovar. The Chinese road extends up to Shipki village, with a 4-kilometer path in between. It used to take 15 days on horseback to reach Kailash Manasarovar. This route was specially prepared for trade, but it can serve pilgrims too.' She added, 'Opening this route for tourism and pilgrimage will create employment opportunities for the youth of our villages.' The pass' location, close to the sacred Mount Kailash and Lake Mansarovar in Tibet, makes it a compelling alternative to existing pilgrimage routes, which often involve longer and more arduous journeys. Also Read: 'This wealth is Himachal's, we deserve rightful share,' says CM Sukhu amid Punjab-Haryana water row Boosting tourism & local economy The opening of Shipki La to tourists is part of a broader strategy to stimulate economic growth in Kinnaur and Lahaul-Spiti, which share a 240-km border with China. Tourists can access the pass via the Shimla-Kinnaur Highway, taking a detour near Khab village. Entry requires valid identity documents such as an Aadhaar card, and is strictly monitored by the Indo-Tibetan Border Police (ITBP) on a daily basis. Overnight stays at the pass are prohibited to maintain security. Revenue Minister and Kinnaur MLA Jagat Singh Negi underscored how the tourism initiative would address the region's economic challenges. 'This is a significant step to boost tourism in the border district,' he said. 'It will help locals financially, and curb migration from remote areas of Kinnaur, where economic opportunities have been limited since the suspension of the trade.' Tenzin, a resident of Nako village, echoed the sentiment, 'Trade is not just a part of our history but a source of livelihood for many. Its resumption, alongside tourism, is crucial for our survival.' Lalit Negi, a resident of Kalpa, said, 'Opening Shipki La will bring visitors beyond the explored valleys of Kinnaur, directly benefiting local communities through increased economic activity.' The state government has also requested the central government to engage with China to resume livestock trade and other exchanges, signaling a proactive approach to restoring economic ties. Despite the enthusiasm, significant challenges remain. The suspension of trade since 2020 has strained local economies, and ongoing geopolitical tensions between India and China complicate efforts to resume cross-border trade activities. The state government, however, remains committed to overcoming these hurdles through dialogue with the central government, MLA Negi said. 'We have requested the Centre to engage with China to resume livestock trade and other exchanges,' he said, adding the success of these efforts will also depend on diplomatic progress and the resolution of security concerns along the LAC. (Edited by Ajeet Tiwari)
Mint
an hour ago
- Mint
The 'not-so-fixed' nature of fixed income markets
The term 'fixed income" sounds reassuring—evoking stability, predictable returns, and minimal risk. But in today's market, this label can be misleading. From wild price swings to rate-driven gains and losses, fixed income is no longer as 'fixed' as it once was. The roots of what we now call fixed income go back at least 250 years, when the British government issued 'Consols"—a type of perpetual bond used to finance wars. These bonds had no maturity date and paid fixed coupons indefinitely, until redeemed by the government. The term gained prominence with the advent of modern portfolio theory in the 1950s, when economists like Harry Markowitz developed frameworks around diversification and risk. These theories clearly distinguished between 'equities' (stocks) and 'bonds,' the latter defined by their steady, fixed returns. Over time, as large asset management firms grew in influence, 'fixed income" became a standard industry classification, covering bonds and a wide range of debt instruments. Many investors take the term at face value, assuming bonds or debt-based funds are inherently low-risk. 'Fixed income" feels comforting, as if one is promised consistent returns regardless of market conditions. But today, this assumption doesn't hold. Also read: How you can invest in a fully valued market Reality check While the core principles remain, the fixed income landscape has changed dramatically. Financial markets today are more complex, interconnected, and reactive. Innovations in debt instruments, investment vehicles, and valuation models (like mark-to-market and NAV) have introduced a layer of volatility. What was once considered the domain of stable returns now exhibits price and yield fluctuations akin to equities. Variables such as changing interest rates, shifting credit spreads, and evolving liquidity conditions can all disrupt the 'fixed" nature of returns. When bonds behave like stocks Take the example of Austria's 100-year bond issued during the Covid-19 pandemic, which offered a 0.90% yield. As global rates rose over the next three years, the bond's price crashed from €135 to €33—wiping out around 75% of investor value. Closer home, Indian gilt mutual funds reported a yield-to-maturity (YTM) of 7.30% in April 2024. But falling interest rates boosted returns to 11% over the year. Similarly, a 30-year Indian government bond jumped from ₹98 to ₹107 in early 2025, delivering a 16% gain. 'Not-So-Fixed' isn't necessarily a bad thing Volatility isn't always a drawback. In fact, it creates opportunities to manage risk and enhance returns—provided you understand the levers at play. What investors should watch for: Central bank cues and bond duration: Rising rates mean better reinvestment opportunities via newer, higher-yielding bonds. Falling rates can lead to capital gains in long-duration bonds. Credit quality and research: Conservative investors should favour high-rated government or corporate bonds. Those with higher risk appetite can benefit from well-researched strategies that anticipate upgrades or downgrades. Don't blindly trust YTM: The yield-to-maturity assumes holding bonds till maturity and reinvesting at the same rate—conditions that rarely hold. It's not a return guarantee. Liquidity matters: Whether you invest directly or via mutual funds, understand how easily you can exit. If flexibility is important, favour short-duration or highly liquid instruments. Review regularly: Just like equities, fixed income investments require monitoring. Keep tabs on rate cycles, credit ratings, and broader liquidity shifts. Also read: This CEO has no fixed-income investments, and has never done an SIP Summing up The world of fixed income has changed. Interest rates, credit risks, liquidity conditions, and market sentiment now have a more visible impact on returns. To navigate this landscape, investors need to let go of outdated assumptions and embrace a more active, informed approach. As this evolving asset class offers both stability and strategy, it may no longer be entirely 'fixed," but it remains very much relevant. Also read: Mastering Fixed Income Trinity: Balancing income, duration, and liquidity for smarter investments Bhupendra Meel, Head – PMS & Alternative – Fixed Income, Bandhan AMC. Views expressed in this column are personal.
The Print
an hour ago
- The Print
We are ‘really very near' to concluding FTA with EU: Goyal
'I would believe that in the case of the European Union, we are really very near. I think we are very close to finalising a very good, robust free trade agreement with the EU faster than most people would imagine,' Goyal told reporters here. He said India and the European Union (EU) have both agreed to respect each other's sensitivities so that they do not let the irritants hold back agreements. Bern, Jun 10 (PTI) Commerce and Industry Minister Piyush Goyal on Tuesday said India and the 27-nation EU bloc are 'really very near' to concluding talks for the proposed free trade agreement, with only a few issues left to be resolved. In June 2022, India and the 27-nation EU bloc resumed negotiations for a comprehensive free trade agreement, an investment protection agreement and a pact on geographical indications (GIs) after a gap of over eight years. The negotiations stalled in 2013 due to differences over the level of opening up of the markets. On February 28, Prime Minister Narendra Modi and the European Commission President agreed to seal a much-awaited free trade deal by the end of this year. The India-EU trade pact negotiations cover 23 policy areas or chapters, including Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights, Geographical Indications, and Sustainable Development. India's bilateral trade in goods with the EU was USD 137.41 billion in 2023-24 (exports worth USD 75.92 billion and imports worth USD 61.48 billion), making it the largest trading partner for goods. The EU market accounts for about 17 per cent of India's total exports, while the EU's exports to India make up 9 per cent of its total overseas shipments. In addition, the bilateral trade in services, in 2023, between India and the EU was estimated at USD 51.45 billion. PTI RR SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
