China’s BYD Surpasses Tesla In Annual Revenue

China’s BYD surpasses Tesla in annual revenue. Chinese automaker BYD saw a significant revenue surge in 2024, surpassing the $100 billion mark and outperforming Tesla, according to a stock filing on Monday.

BYD, the dominant player in China’s competitive electric vehicle market, reported a record revenue of 777.1 billion yuan ($107.2 billion) for 2024—exceeding Tesla’s $97.7 billion. This marks a 29% increase from 2023 and surpasses Bloomberg’s forecast of 766 billion yuan.

BYD Surpasses Tesla

The company also achieved a record net profit of 40.3 billion yuan, a 34% rise from the previous year. Its stock price hit an all-time high this month following the unveiling of a new battery technology, which enables a vehicle to travel up to 470 km after just five minutes of charging.

BYD’s latest battery system offers a charging speed of 1,000 kW, outpacing Tesla’s 500 kW Superchargers, further solidifying its competitive edge in the EV industry.s Tesla in Annual Revenue

Wike Donates 10,000 Bags Of Rice To Muslim Groups In FCT: Ramadan

Wike donates 10,000 bags of rice to Muslim groups in FCT. The Minister of the Federal Capital Territory (FCT), Nyesom Wike, distributed 10,000 bags (25kg) of rice to religious leaders and Muslim groups in FCT as a Ramadan package.

Mr Wike explained during the distribution on Monday in Gwagwalada that the gesture was part of the FCT Administration’s annual support to Muslims in FCT.

The minister, represented by his chief of staff, Chidi Amadi, identified the beneficiaries as Muslim religious groups, associations and vulnerable groups in the FCT.

“The distribution of the 10,000 bags of rice is part of our efforts to identify with our Muslim brothers, the needy and the less privileged who really need such support.

“The minister, in his own little way, is trying to identify with the religious community in FCT,” he said.

Earlier, FCTA director of protocol Sani Daura said that other beneficiaries of the Ramadan package would include FCT-graded chiefs, religious leaders, and the FCT Welfare Association.

Wike Donates 10,000 Bags Of Rice

Mr Daura said that Mr Wike approved the procurement and distribution of the items in keeping with the FCT Administration’s long-standing tradition of catering to residents’ welfare, particularly during festive periods.

The beneficiaries thanked Mr Wike for the gesture, describing it as “thoughtful.”
One of them, the chief imam of the FCT Minister’s residence, Life Camp, Abuja, Lawal Mustapha, said the kind gesture would ease the food burden among vulnerable households.

Afghan Central Bank Sets To Auction $15m To Stabilise Local Currency

Afghan central bank sets to auction $15m to stabilise local currency. Afghanistan’s central bank announced on Monday that it will auction $15 million to maintain the stability of the national currency, the Afghani.

The central bank said in a statement posted on its X account that “the bidders, including moneychangers and private banks, should deposit the necessary money in cash in the form of afghani in the central bank Da Afghanistan Bank.’’

The bank requested all eligible banks, foreign exchanges and monetary service providers to participate in the auction.

Afghan Central Bank

It has injected millions of U.S. dollars into the money exchange market over the past three years, aiming to prevent the Afghani’s devaluation.

Since assuming power in August 2021, the Afghan interim government has taken a series of measures to maintain the stability of the Afghani against foreign currencies.

Currently, the exchange rate stands at about 70.50 Afghani for one U.S. dollar.