• H&M returns to profit

      H&M returns to profit

      The world’s second-biggest fashion retailer H&M returned to a pretax profit of $419 million offsiting from a year-earlier loss of 6.48 billion in the year of pandemic, AP reported. Hennes & Mauritz announced its profit soared as many of its stores reopened worldwide. Total sales for the period 1 March -31 May 2021 increased by 75% compared with the same period a year earlier. The retailing company reported a loss of $760 million that period last year.

      58
    • Greek rescue fund cuts stake in Alpha Bank to 9%

      Greek rescue fund cuts stake in Alpha Bank to 9%

      The Greek state rescue fund for troubled banks HFSF announced it had taken part in local Alpha Bank's 800 million euro share offering only partially and thus decreased its stake to 9% from previous 11%. The fund still remained the biggest stockholder in the financial institution, Reuters elaborated.

      63
    • Eurozone factories boost output as raw materials surge

      Eurozone factories boost output as raw materials surge

      The factory activity of the Eurozone posted a record pace of growth in June but managers warned of record surge in costs of input materials, Reuters reported quoting official EU statistics data. The rise in prices of raw materials proves to be strongest in almost twenty years. During the Covid -19 lockdowns across the EU government restrictions led to a devastating slump in the dominant service sector but the industrial plants largely continued to operate.

      68
    • Charge your phone any time, any place

      Charge your phone any time, any place

      Perhaps you spend your entire day on the move and doing your job requires a well-charged smartphone or laptop but by midday, you regularly find yourself in the middle of nowhere with your battery at 5%? Or perhaps you are planning this weekend a three-day camping trip to a spot without electricity and you are already dreading the prospect of not being able to use your phone to even zone out with some music? Well, we know a way you can overcome the anxiety of your gadget’s battery dying. 

      110
    • Economic sentiment in Eurozone surges to 21-year-high

      Economic sentiment in Eurozone surges to 21-year-high

      The Economic Sentiment Indicator (ESI) of the Eurozone peaked to a 21-year high in June, fueled by accelerated vaccination and economic reopening in Western countries, Reuters reported. The general recovery was led by restored activity and high demand in service and retail sectors. The European Commission's monthly sentiment survey for the 19 Member States of the Eurozone showed optimism had risen to 117.9 points in June from 114.5 in May, exceeding forecast estimates of 116.5.

      52
    • International tourism loses $2.4tn in 2021

      International tourism loses $2.4tn in 2021

      International tourism arrivals will stay in a spiral of stagnation in 2021 with expected losses edging up to $2.4 trillion, Reuters reported quoting a study of the United Nations. The main reason for that is that with the exception of few western countries, the world is still suffering the downturn caused by the Covid-19 pandemic. The slow vaccination roll-out makes it unlikely to expect a full rebound in tourism industry before 2023.

      44
    • EU airlines warn of chaos amid Covid-19 certificates

      EU airlines warn of chaos amid Covid-19 certificates

      Groups representing EU largest airports and airlines warned in formal letters to the European Commission that the system of Covid-19 certificates will sparkle chaos in air traveling. The digital certificates are due to take effect from 1 July. However the airports and airlines warn that the extra bureaucracy will result in hours waiting and long queues in the peak of the tourist season.

      124
    • World Bank ups China 2021 growth forecast to 8.5%

      World Bank ups China 2021 growth forecast to 8.5%

      The World Bank increased its expectations to the 2021 growth of the Chinese economy to 8.5% from previous forecast of 8.1%, AP reported. The bank noted that China is the first major world economy to enjoy a strong rebound from pandemic slowdown. However the World Bank warned that the GDP growth rate can be sustained only if the vaccination roll-out gains faster pace.

      51
    • UA buys $30bn worth new planes

      UA buys $30bn worth new planes

      United Airlines earmarked plans to complete a $30bn worth of jet purchases to boost its fleet, Reuters reported. The airline aims to buy at least 270 single aisle planes benefiting from pandemic price slumps across the industry. UA order will include up to 200 Boeing 737 MAX and some 70 Airbus A321neo which competes with the top end of the MAX family.

      53