Wednesday 16 April 2014
 
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Saudi businessmen oppose work hour cut

Saudi Arabia’s business community has opposed the move to reduce weekly working hours in the private sector from 48 to 40 hours, said a report. The businessmen said the move would have a negative impact on the economy, incre

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70pc cuts on way in Bahrain medicine prices

Hospital treatment could become cheaper as a result of a nationwide project to reduce the cost of more than 500 commonly used medicines in Bahrain, according to a report. The price of the medication for chronic diseases will be sl

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US troops in Bahrain rap cut in danger pay

US troops stationed in Juffair have hit out against the Pentagon's decision to cut their pay after Bahrain was removed from a list of places in "imminent danger". The US Department of Defence (DoD) announced on Frida

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Boeing to cut 747 production rate

Boeing has announced that it was notching down the production rate of its biggest plane, the iconic bubble-top 747, due to slack demand.   The slowdown won't affect financial forecasts for Boeing, analysts sa

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Rolls-Royce to focus more on costs after profit jump

Rolls-Royce is to focus on cutting "unacceptable" levels of costs after the firm's first-half profits rose by more than a third, helped by booming demand for aircraft engines. Rolls, the world's second-largest ma

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Europe to cut the cost of paying by card

The European Commission proposed on Wednesday to cap fees banks charge when processing card payments, potentially cutting costs for shoppers. The draft legislation will also prevent companies such as airlines, for example, from im

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Europe to cut the cost of paying by card

The European Commission proposed on Wednesday to cap fees banks charge when processing card payments, potentially cutting costs for shoppers. The draft legislation will also prevent companies such as airlines, for example, from im

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Novartis announces massive US jobs cuts

Novartis AG is slashing nearly 2,000 jobs in the US ahead of the patent loss of its top-selling blood pressure drug Diovan, the Swiss drugmaker said on Friday, just months after it said would scale back operations in Switzerland. The group

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Zain Saudi seeks 66pc capital cut amid losses

Indebted telecoms operator Zain Saudi will ask shareholders to approve cutting its capital by 66 per cent to alleviate mounting losses, it said in a statement on Wednesday. This is the third time the board has announced such a plan, but th

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China announces fuel price cut

China will cut retail ceiling prices for gasoline and diesel by about 3 per cent from Sunday, taking prices off record highs at a time when headline inflation eased from a three-year peak. The National Development & Reform Commission

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