Eases

Published By: Paras YadavLast Updated: March 07, 2023, 11:47 ISTImage used for Representation. (Photo: IANS)Seoul's Foreign Ministry said this latest travel advisory for 6 countries is the lowest in line with its latest Covid-19 guidelinesThe South Korean government has eased travel advisories for six countries, including Spain and Tunisia, to the lowest level in line with its latest Covid-19 guidelines, Seoul’s Foreign Ministry said on Tuesday.The level 2 alert, which also affected Mauritius, Andorra, Jordan and…

Eurozone inflation eased in February for the fourth straight month, but a strong pickup in services prices makes it likely that the European Central Bank will continue to raise interest rates in coming months.Despite the overall easing in price rises, inflation accelerated in many of the eurozone’s largest members—including Germany, France and Spain—underlines how difficult a task central bankers face in bringing it back under control. The data comes as strikes and labor unrest across the region are pushing wages higher,…

BRUSSELS—Europe is dialing back its criticism of U.S. clean-energy subsidies, after months of denunciations of the measures contained in a package of climate, tax and healthcare legislation signed by President Biden last year.  European Union Executive Vice President Margrethe Vestager, one of the bloc’s leading voices on the issue, said in an interview that closer analysis of the subsidies suggests the main threats to European competitiveness will be limited to a handful of sectors. She…

Calling it a “tough but necessary decision,” Zoom CEO Eric S. Yuan announced layoffs at Zoom Communications on Tuesday. It’s the latest media and tech company to do so amid economic uncertainties, particularly after its pandemic boom. The layoffs effect 15% of its workforce, or 1,300 total employees, whom Yuan refers to in the blog post announcing the news as “Zoomies.”  “For those Zoomies waking up to this news or reading this after normal work hours, I am sorry you are finding out this way but we felt it…

Tencent is planning to launch a Valorant esports league when the hit shooter title debuts in China this year, one of the strongest signs yet that the country's internet giants are getting back to business after a two-year industry crackdown.Tencent unit TJ Sports has held discussions with top Chinese esports players in recent days about setting up the competition, people familiar with the matter said. It could kick off a tournament over the summer at the earliest as Tencent rolls out the game domestically, one of the…

The eurozone’s annual rate of inflation fell for the third-straight month in January as energy prices continued to pull back from recent peaks—a slide that is unlikely to deter the European Central Bank from raising interest rates further this week. Russia’s invasion of Ukraine pushed energy prices and eurozone inflation sharply higher through much of last year, but warmer-than-usual temperatures, high natural-gas storage levels across Europe and various government programs to cap energy prices started to reverse that…

WASHINGTON—Resilient demand, easing inflation and China’s reopening should allow the global economy to grow a bit faster than previously expected, the International Monetary Fund said.In its latest World Economic Outlook, released Monday Washington time, the IMF sees the global economy growing 2.9% this year, up from its October projection of 2.7%. The IMF expects growth to accelerate to 3.1.% in 2024, still less than last year’s 3.4%. “The year ahead will still be challenging,” said Pierre-Olivier Gourinchas, the IMF’s…

A report indicates Apple is making changes to its COVID-19 policies. According to Platformer’s managing editor Zoë Schiffer, the Cupertino firm will stop mandating employees test before coming into the office. In addition, Apple will roll back its special sick leave policy, which “previously allowed for unlimited sick leave for workers experiencing COVID symptoms.” Schiffer reports that the test policy rolls out on Jan 30 and sick leaves end in August. Until then, employees get a maximum of 5 days of sick leave…

Jaguar Land Rover said it achieved positive free cash flow and profitability in fiscal Q3 as semiconductor supply challenges eased in the quarter. Revenue was up 28% year on year to GBP6bn reflecting strong model mix and pricing as the production ramp up of the new Range Rover and Sport continued with 27,456 units wholesaled in the quarter, up from 13,537 in Q2. Profit before tax in the quarter was GBP265m, up from a loss of GBP9m a year ago with a positive EBIT margin of 3.7%, up from 1.4% in Q3 FY22. The higher…

NEW DELHI : The pandemic-led shift to remote work, which fuelled massive demand for PCs and laptops in the…