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The banking group has more than tripled the amount it is setting aside, knocking its profits for the year.
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The second advantage for incumbents, at least in India, is they have a long history of after sales for their existing vehicles and that has to translate to the EV as well.
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Vietnam has approved a multi-billion dollar railway with China to enhance their links, joining other Asian countries in China's Belt and Road Initiative. Several other projects, including in Indonesia, Laos, and Thailand, are underway or planned, though some like those in Pakistan, Myanmar, and the Philippines face delays or uncertainties.
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