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Industry

Oil-importing countries save $20 billion as EV use expands

Oil-importing countries cut crude consumption by about $20 billion over six months as electric vehicle use expanded worldwide, analysis showed. Energy think tank Ember estimated EVs in oil-importing countries replaced demand for about 200 million barrels of crude in March to August. China had the biggest impact, while the United States lagged in EV share. Ember said EV expansion is becoming an energy security strategy alongside cutting carbon emissions.

Telecommunications & Media

Malware preinstalled on low-cost Android phones hits users in 150 countries

Some low-cost Android smartphones were distributed with malware already installed before shipment, raising the risk of ad fraud and cybercrime without users installing any apps. Security firm Bitdefender found Midnight Mimosa embedded in device firmware, with thousands of infected phones detected in more than 150 countries over about two years. Affected models included Doogee S200 X and Cubot KingKong X, and copycat phones posing as Samsung Electronics and Apple products.

Industry

South Korea, 15 countries launch joint response to structural overcapacity

South Korea and 14 other countries have launched a joint response to structural overcapacity, which has emerged as a global trade issue. The Ministry of Trade, Industry and Energy said the countries issued a joint ministerial statement on Oct. 7 in Paris at the OECD headquarters. The statement defined structural overcapacity as a major challenge and set criteria for identifying it, without naming any country. The group will form a consultative body covering five sectors and begin cooperation talks in Paris.