Browsing: News – Business

After closing its borders for over two years due to the Covid pandemic, Japan will once again welcome foreign tourists. From 11 October, tourists can enter the country without a visa and no longer need to go through a travel agency. A daily arrivals cap will also be lifted. Japan’s announcement coincides with the relaxation of visitor entry rules in Taiwan and Hong Kong. Taiwan will eliminate quarantine requirements for international arrivals by mid-October, while Hong Kong announced on Friday that it would transition from hotel quarantine to stay-at-home requirements beginning September 26. The anticipated influx of tourists will be…

The chief operating officer of the vegan food giant Beyond Meat was arrested after he was accused of biting a man’s nose during an altercation in the United States. According to the court records, Douglas Ramsey, age 53, is being charged with “terroristic threatening” and battery in the third degree. On Sunday, he paid the $11,085 (£9,711) bond that was required to get out of jail. According to a local TV station, the incident took place on Saturday evening as he was leaving a parking garage in Fayetteville, Arkansas, after attending a football game in the city. KNWA/KFTA, a television…

The World Bank has warned that interest rate hikes by central banks around the world could trigger a global recession in 2023. To combat rising prices, central banks have raised rates “with a degree of synchronicity not seen in the last five decades,” according to the report. Raising interest rates makes borrowing more expensive in an attempt to slow the rate of price increases. However, it raises the cost of loans, which can slow economic growth. The World Bank’s warning comes ahead of monetary policy meetings by the US Federal Reserve and the Bank of England, both of which are…

Ravil Maganov, the chairman of the Russian oil giant Lukoil, is said to have died after falling from a hospital window in Moscow.  The company stated that Maganov, who was 67 years old, had “passed away following a severe illness” in their confirmation of his passing. According to reports in Russian media, he passed away from his wounds while he was being treated at Moscow’s Central Clinical Hospital. Maganov is one of the most recent high-profile business executive to pass away under mysterious circumstances. His death comes after those of a number of other prominent business executives. Those in charge…

The estate of the late Paul Allen, the billionaire co-founder of Microsoft and noted art collector, has indicated it will allow “at least” 150 pieces from his collection to go up for auction, with the proceeds going to charity. The sale could break records for the largest single-day public art auction in modern history if the artworks’ true values come in higher than the initial estimations. Auction house Christie’s has secured the rights to the collection, which is scheduled to hit the auction block sometime this fall. The estimated pre-sale value of the entire collection is around $1 billion, which…

On May 26, 2022, the first Avelo Airlines flight will take off from Raleigh-Durham International Airport bound for New Haven, Connecticut. From RDU to Fort Myers, FL, the airline will fly three times weekly beginning in November. Since the airport opened in May, Raleigh-Durham International Airport has welcomed a new carrier, Avelo. Beginning November 10, Avelo Airlines will operate three weekly nonstop flights between RDU and Fort Myers, Florida. Neither of these locations will have access to any other carriers. Avelo spokesperson Courtney Goff says the company treats the flights out of Fort Myers as seasonal, but they haven’t decided…

Investors are abandoning the cryptocurrency market once more, and this trend is likely to continue for some time. It’s similar to a song’s chorus. The cryptocurrency market is once again in decline. For the fifth session in a row, prices begin to fall. In terms of market value, we are once again under a trillion dollars. To be more specific, at the time of the last check, the market was worth $997 billion, down 1.3% in 24 hours. This market has thus lost more than $2.1 trillion since its all-time high of more than $3 trillion in November of last…

Australia and New Zealand’s national carriers say the worst of the coronavirus crisis is over, despite reporting annual losses for the third year in a row. Even though they have reported annual losses for the third year in a row, the national carriers of Australia and New Zealand say that the worst of the coronavirus crisis is now behind them. According to Qantas, demand has increased “now that the existential crisis posed by the pandemic has been resolved.” Since March, Air New Zealand has also reported “a very strong recovery in bookings and revenues,” according to the company’s statement. Both…

The federal government of Germany has given its approval to a package of energy-saving measures that will be implemented this winter. These measures will restrict the amount of energy that can be used for lighting and heating in public buildings. The new regulations are intended to bring about a 2% reduction in the total amount of gas consumed. According to Germany’s Minister of the Economy, the regulations have the potential to save private households, companies, and the public sector approximately €10.8 billion (£9.1 billion) over the next two years. This is a component of the larger plan to lessen the…

The billionaire founder of outdoor clothing company Patagonia has donated his company to a charitable trust. Yvon Chouinard stated that any profits not reinvested in the business would be used to combat climate change. The label has a cult following as a result of sustainability initiatives such as guaranteeing its clothes for life and offering reasonably priced repairs. It is famous for an advertisement titled “Don’t buy this jacket,” which asks shoppers to consider the environmental costs. According to the brand’s website, “Earth is now our sole shareholder.” Mr. Chouinard has always stated that he “never aspired to be a…