Category: Business

Eyeing IPO, Volvo cars posts record results, top pre-pandemic levels

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Eyeing IPO, Volvo cars posts record results, top pre-pandemic levels

STOCKHOLM, July 23 – Volvo Cars reported a return to profit in the first half as demand for electric cars pushed earnings above pre-pandemic levels, putting the carmaker on a firmer footing as it considers a possible IPO this year. Sweden-based Volvo, owned by China’s Geely Holding (GEELY.UL), said on Friday it made a first-half profit of 13.24 billion Swedish crowns ($1.52 billion), more than double its profit of 5.52 billion crowns in the corresponding period of 2019, before the coronavirus struck. Like several other automakers Volvo has been forced…

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Employment drops as Canada introduces stricter Covid-19 rules

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Employment drops as Canada introduces stricter Covid-19 rules

Canada saw its unemployment rate increase more than 8 per cent in April 2021, as employment fell by 207,000. Statistics Canada measured Canada’s labour market conditions during the week of April 11 to 17. Canadian provinces were introducing stricter health measures because of the sharp increase in COVID-19 cases across the country. A stay-at-home order was introduced in Ontario. Quebec had 8 p.m. and 9:30 p.m. curfews in place. British Columbia also had closed restaurants and bars for indoor dining. In addition, the number of people who were working less…

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CANADA FX DEBT-Canadian dollar holds near 6-year high as U.S. inflation jumps

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CANADA FX DEBT-Canadian dollar holds near 6-year high as U.S. inflation jumps

The Canadian dollar was little changed against its broadly stronger U.S. counterpart on Wednesday, holding near an earlier six-year high as investors bet that the Bank of Canada would be more sensitive to rising inflation than the Federal Reserve. The U.S. dollar rallied against a basket of major currencies as data showed U.S. consumer prices increasing by the most in nearly 12 years in April. “Higher inflation in the U.S. will spill over into Canada’s economy and place upwards pressure on Canadian CPI,” said Simon Harvey, senior FX market analyst…

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Finland to end state of emergency as COVID-19 cases drop & will finance post-Covid stimulus with debt

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Finland to end state of emergency as COVID-19 cases drop & will finance post-Covid stimulus with debt

Finland should end its COVID-19 state of emergency as infection rates decline, Prime Minister Sanna Marin said on Tuesday, adding that the issue would go before parliament. “We see that the conditions no longer call for the emergency powers legislation,” Marin said. On April 9, Marin had presented a plan to relax restrictions in the run-up to the summer. The state of emergency was declared on March 1 because of a third spike in COVID-19 infections that began in late January. The daily number of coronavirus infections has been decreasing since…

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Reports say that Huawei will launch test satellites for 6G technology verification in July

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Reports say that Huawei will launch test satellites for 6G technology verification in July

5G technology has now gone mainstream when it comes to offering support on consumer electronics like smartphones, although the deployment of 5G infrastructure is still limited to developed countries online while developing nations are working towards it. As 5G communication technology has reached the milestone, companies have now started working on the next-generation technology — 6G. One of the leaders in this segment, the Chinese giant Huawei, is now moving towards the next step. Report coming from China, citing Chang’an Shumajun as source who has close ties to Huawei, says…

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AS 2021 BEGINS, EUROPE’S HOTEL CONSTRUCTION PIPELINE STANDS AT 1,905 PROJECTS WITH 307,093 ROOMS

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AS 2021 BEGINS, EUROPE’S HOTEL CONSTRUCTION PIPELINE STANDS AT 1,905 PROJECTS WITH 307,093 ROOMS

According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts at LE report that at the close of 2020, Europe’s hotel construction pipeline increased 2% by projects and 3% by rooms year-over-year (YOY) to end the fourth quarter with 1,905 projects and 307,093 rooms, a record high project and room count for the region. Europe’s construction pipeline has remained robust as hotel developers have purposely delayed their opening dates to await improved operating conditions. Rooms under construction are at an all-time high of 967 projects/157,833…

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CHINA OUTSPENDS REST OF THE WORLD ON 5G INFRASTRUCTURE BY 2 IS TO 1 RATIO

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CHINA OUTSPENDS REST OF THE WORLD ON 5G INFRASTRUCTURE BY 2 IS TO 1 RATIO

When Beijing sets its mind to building new infrastructure, there’s very little that can stop it. That’s the message coming from a top telecom official who was talking up China’s fast-growing 5G network at a major industry event taking place this week in Shanghai. The nation now has more than 718,000 base stations for the cutting-edge communications technology, covering all of its major cities, said Liu Liehong, a vice minister at the Ministry of Industry and Information Technology (MIIT). The nation’s huge base station buildup means China is now home…

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WHATSAPP,FACEBOOK,TWITTER,INSTAGRAM SIGNAL & TELEGRAM FACE PROBLEMS AS INDIA ANNOUNCES NEW SOCIAL MEDIA RULES.

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WHATSAPP,FACEBOOK,TWITTER,INSTAGRAM SIGNAL & TELEGRAM FACE PROBLEMS AS INDIA ANNOUNCES NEW SOCIAL MEDIA RULES.

India’s new social media regulations want social media apps like WhatsApp, Signal and Telegram to identify the ‘first originator’. In cases where social media apps are being used to spread ‘mischief’, the government wants the ability to track down the instigators. Tracking the origin of messages may require apps offering privacy to break end-to-end encryption. To prevent the misuse of social media, the Union government on Thursday announced new rules that make it mandatory for platforms such as WhatsApp to aid the government in identifying the “originator” of certain messages containing unlawful…

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Facebook Dating Services & App may begin from February 2021 on Valentines day

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Facebook Dating Services & App may begin from February 2021 on Valentines day

Facebook said it was launching its dating service in 50 European countries.Facebook Dating, the social network’s competitor to Tinder and other dating apps, launches today in Europe after a long delay from its planned Valentine’s Day debut. The dating service offers the same features in Europe as it does in the US, using the existing profile you’ve created on Facebook to find potential matches. Facebook tailors these matches with your preferences, Facebook activity, and, if you opt in, groups and events. FACEBOOK ORIGINALLY PLANNED TO LAUNCH ITS DATING SERVICE IN…

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Huawei Neglected in EU as Nokia Wins Belgian 5G Contracts

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Huawei Neglected in EU as Nokia Wins Belgian 5G Contracts

Orange and Proximus have picked Nokia to help build 5G networks in Belgium as they drop Huawei amid US pressure to exclude the Chinese firm from supplying key telecoms equipment. The moves are among the first by commercial operators in Europe to drop Huawei from next-generation networks and come after months of diplomatic pressure from Washington, which alleges Huawei equipment could be used by Beijing for spying. The Belgian capital Brussels is home to the European Union’s executive body and parliament, making it a matter of particular concern for US…

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