Volvo Cars sees supply situation improving after Q3 profit drop

Volvo Cars
Automaker Volvo Cars (VOLCARb.ST) said on Tuesday the supply situation had improved going into the fourth quarter, as it posted its first quarterly report after listing its shares on the stock exchange last month.

The Gothenburg-based manufacturer, majority owned by China's Geely Holding (GEELY.UL), confirmed a previously announced third-quarter operating profit figure of 3.3 billion Swedish crowns ($362.6 million), versus 4.6 billion in the year-ago period.

"The supply situation has improved going into the fourth quarter, but we expect the industry-wide shortage of semi-conductors to remain a restraining factor,”



admin.web@suchtv.pk (Web Desk) from Science & Technology - SUCH TV https://ift.tt/3pfRfDs
https://ift.tt/3I4QNAC

Comments

Post a Comment

Popular posts from this blog

Pakistan reports 641 covid cases in last 24 hours

Image
Pakistan has reported two deaths in the last 24 hours by novel coronavirus as the number of confirmed positive cases has surged to 1,535,785. The nationwide tally of fatalities has jumped to 30,395 on Thursday. According to the latest figures by the National Institute of Health (NIH), at least 641 persons were tested positive for COVID-19 across the country in the past 24 hours. Pakistan has conducted 18,813 tests in the past 24 hours out of which 641 persons were tested positive for the disease. The COVID Positivity Ratio was recorded at 3.41 percent. from Health - SUCH TV https://ift.tt/j7hRwbe https://ift.tt/yJ9MhTU admin.web@suchtv.pk (Web Desk) https://ift.tt/j7hRwbe
Read more

WhatsApp likely to add Novi instant payments feature

Image
The Meta-owned messaging application WhatsApp has announced its plans to roll out a new update for the app, using Novi, a digital wallet created by Facebook, WABetainfo reported Friday. With the expected feature, Novi Payments, WhatsApp users may have a new secure way to exchange money with friends and family instantly. The digital wallet requires no fees for instant money transfers and given that the privacy of users and their information is prioritised by Novi, the inclusion of the feature is “totally compatible with the principles of WhatsApp”. However, the WhatsApp users cannot use the service currently because it is not available for the public yet as Whatsapp is testing how to integrate Novi into the app. The tests are between the developers so the time of the arrival of this update for the public is not certain. admin.web@suchtv.pk (Web Desk) from Science & Technology - SUCH TV https://ift.tt/3bp7xn2 https://ift.tt/3jJNe8w
Read more

IT ministry notifies amended controversial social media rules

Image
The Ministry of Information Technology and Telecommunication on Thursday notified the amended social media rules that stakeholders and digital rights activists have strongly criticised. The rules, titled the “Removal and Blocking of Unlawful Online Content (Procedure, Oversight and Safeguards) Rules, 2021”, have been framed under the Prevention of Electronic Crimes Act (Peca), 2016. The federal cabinet had last month approved amendments to the digital media rules introduced last year. Key amendments to social media rules Social media companies will have to register with PTA within three months Social media outlets will be required to establish an office in Pakistan "as and when feasible" — instead of nine months as required previously PTA will give 48 hours, instead of 24 hours previously, to a social media company for removing or blocking access to online content In a statement, IT and Telecom Minister Aminul Haque said under the rules, social media companies would ...
Read more