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Turkey to import Russian wheat using rubles in a first
bne IntelliNews
Turkey for the first time will import high-protein wheat from Russia using Russian rubles, state-run news agency Anadolu reported on October 2, citing Russia-based SovEko.
Some 17,000 rubles (around $260) per tonne of wheat is expect- ed to be paid for consignments amounting to 30,000 tonnes.
Turkish President Recep Tayyip Erdogan has been complaining that the US is using the dollar as a weapon to undermine other
country’s economies lately. He has urged Turkey’s trading partners to use local currencies in trade where possible.
Last month, Governor of the Central Bank of Iran Abdolnasser Hemmati said Russia, Iran and Turkey had agreed to expand trade conducted in national currencies.
The agreement was made on the sidelines of a trilateral summit on the Syria conflict held in Tehran on September 7 attended by the Iranian, Russian and Turkish presidents.
Magna opens BMW seating facility at new Czech plants
IntelliNews Pro
The carmaker Magna International has opened its 16th seating plant in Europe and fifth plant in the Czech Republic to support new BMW Group business, the manufacturer announced in its press release on Thursday October 11. The plant plans to produce more than 360,000 seating systems in various configurations for BMW models per year.
Production is expected to start by the end of this year and will create 150 new jobs in 2018 and additional 150 jobs throughout 2019. “This is a big win for our employees as well as our community, where we are making a positive economic
“Our facility is using the latest technology with special attention given to high flexibility so that we can react quickly to new developments”
impact. Our facility is using the latest technology with special attention given to high flexibility so that we can react quickly to new developments and changing requirements
of our customers,” says General Manager Martin Polivka of Chomutov Seating in the press release.
“Continuing to win business with a customer like BMW Group is critical to our global growth and speaks to our ability to produce innovative, cost-effective seating solutions” added President Magna Seating Mike Bisson.
Magna with its engineering and sales centres in 28 countries, is a mobility technology company and one of the world´s largest automotive suppliers. Their competitive capabilities include body exteriors and structures, power and vision technologies, seating systems and complete vehicle solutions.
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