Friday 22 August 2014
 
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Cost cutting

Gulf Air restructuring drive saves $67m

Gulf Air, the national airline of Bahrain, reported BD25.5 million ($67.62 million) in cost savings last year, following the adoption of several restructuring initiatives, said its chief executive. 'I am glad to report that our several

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Citadel narrows Q3 losses on cost cutting

Egyptian private equity firm Citadel Capital said on Sunday it narrowed third quarter losses by 30 per cent in 2011 despite a challenging local and regional environment. The company said it made a standalone net loss of 20.7 million Egypt

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Panasonic to hack 40,000 jobs to cut costs

Japanese consumer electronics giant Panasonic Corp will slash 40,000 jobs over the next two years in a bid to pare costs and keep up with ever-harsher competition from Asian rivals, a source said on Thursday. The company, which employs abo

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