Tag: Economic crisis

Technology

Microsoft CEO Satya Nadella Is Confident About Activision Deal

Microsoft CEO Satya Nadella says the company will be more ‘deliberate’ in hiring as it weathers downturn. Microsoft Corp. Chief Executive Officer Satya Nadella said he's confident the company can gain regulatory approval for its $69 billion purchase of Activision Blizzard Inc. even in the face of an in-depth regulatory probe in the UK. “Of course, any acquisition of this size will go through scrutiny, but we feel very, very confident that we'll come out,” he said in an interview with Bloomberg Television. Nadella's prediction puts him at odds with investors' skepticism about the deal. While Activision rose Thursday, outperforming a slump in tech stocks, Wednesday's close of $75.32 still left the company more than 20% be...
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Crisis-Stricken Sri Lanka Bans Import Of 300 Consumer Goods Items

In mid April, Sri Lanka declared its international debt default due to the forex crisis.(File)Colombo: The cash-strapped Sri Lankan government has slapped a ban on the import of 300 consumer items like chocolates, perfumes and shampoos until further notice, as the island nation tried to tackle its worst economic crisis triggered by the acute shortage of foreign exchange.Sri Lanka is going through its worst economic crisis since its independence in 1948. The worsening forex crisis caused essential items shortages triggering massive public protests in the street since early this year that led to the ouster of the Gotabaya Rajapaksa government last month.In a special notification issued by the Sri Lankan finance ministry, the ban was imposed on a total of 300 items including chocolates, pe...