Kuwait Petroleum Corporation has adapted to weak oil prices with a massive cost cutting programme, its chief executive, Nizar Al Adsani, said.
But Kuwait was fully committed to its international role as a relia
Printer and copier maker Xerox Corp reported a higher-than-expected quarterly profit as restructuring efforts ahead of its planned split into two companies helped cut costs.
The company, which is splitting to separate its printer
BlackBerry is cutting 200 jobs at its hometown headquarters in Ontario and in Florida in order to trim costs, it said, as the smartphone maker moves to turn around its fortunes and put more emphasis on its enterprise software business.
Oil majors may need deeper cuts to oil and gas exploration and production spending as they grapple with an extended period of low crude prices.
The industry is expected to reveal another set of grim earnings fo
Schlumberger, the world's number one oilfield services provider, reported a smaller-than-expected fall in first-quarter margins as it continued to execute tight cost controls to combat a decline in drilling activity.
Kuwaiti low-cost carrier Jazeera Airways has deferred some aircraft orders to rein in costs and return to profit, its chief operating officer said.
The company has firm orders for 29 Airbus A320 aircraft, which were to be delivered by 2014
BMW's cost cutting measures have begun to gain traction as the German premium automaker posted a better-than-expected 2009 profit despite lower vehicle production.
BMW said on Thursday its pretax profit rose 18 per cent to 413 million euro
Two of the most respected US newspaper publishers, The Washington Post and The New York Times, are embarking on new cost cuts in the face of dramatic declines in advertising revenue.
The Times said it laid off 100 workers and is cutting no
World number three mobile phone maker Sony Ericsson posted a much bigger than expected quarterly loss as it braced for even weaker demand and also announced plans for further cost cuts, possibly including jobs.
President Dick Komiyama