Economy

Xi wants to help "good friend" Egypt to create stability 

China will help Egypt create stability in the Middle East. This is what Xi Jinping says according to AFP.

  

- China and Egypt are good friends who share the same goals and trust each other, says Xi Jinping on state television CCTV.  

 

The Chinese president met Egyptian Prime Minister Mostafa Madbouly early Thursday morning, Swedish time.  

 

Egyptian President Abd al-Fattah al-Sisi in turn met yesterday with German Prime Minister Olaf Scholz, who also says he wants to work with the country to mediate the situation in Israel and Palestine. 
 

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Elon Musk's X/Twitter

Source: Musk may scrap X for users in Europe 

Elon Musk is considering removing the possibility of using Platform X in Europe as a result of new regulations in the region, a source told the news site Insider. Another option is said to be to block users in the Union.  

 

In August, the EU clubbed the Digital Services Act (DSA), which, among other things, contains rules for which material may be disseminated and which user data must be shared with authorities, writes Reuters.

  

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Nokia cuts up to 14,000 services: "Necessary step" 

The Finnish telecom giant Nokia plans to cut up to 14,000 services as part of a savings program. This is stated in a press release.  

 

The company wants to reduce its cost base by 800-1,200 million euros over a three-year period to "protect its profitability". 

 

 "The program is expected to lead to 72,000-77,000 employees in the organization compared to the 86,000 employees that Nokia has today," the company writes.  

 

CEO Pekka Lundmark says that Nokia will support everyone affected by the cuts. 

 

- Restoring the cost base is a necessary step to adapt to market uncertainty and ensure our long-term profitability and competitiveness, he says.  

 

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The media cuts

Large savings package forces TT to lay off staff The news agency TT will save between

SEK 15 and 25 million, writes DN. Staff will be laid off and the feature journalist will be closed, according to the newspaper.  

 

The announcement about the savings was made at a staff meeting at TT yesterday. According to CEO Per-Anders Broberg, the background is the tough situation in the media industry. These include drastically increased costs, including for premises, and uncertainties surrounding the new media support.  

In the past, several media, including SVT, Sveriges Radio and TV4, have announced large savings packages.