Siemens is to shed 15,000 jobs over the next year, a third of them in Germany, as part of a 6 billion euro ($8.1 billion) cost cutting program, a spokesman said on Sunday.
The announcement comes two months after the ouster of Chie
Riyad Bank, Saudi Arabia's third-largest lender by market value, posted a 5.9 percent rise in its second-quarter net profit on Thursday due to a slight rise in operating income and cuts in costs.
The bank s
The cost of reinsurance has spiralled across the region by some 400 per cent since the advent of the Arab Spring and that is having a major impact on the insurance industry.
That will be one of the key issues to be discussed at a
Gulf Air, the national carrier of Bahrain, reduced its overall losses by approximately 50 per cent in the first quarter of 2013 compared to the same period last year, realised principally through a 21 per cent fall in year-on-year expenditure.
Dramatic recent and projected falls in the costs of renewable energy are making it competitive with fossil fuels in countries across the world, and the least cost option in a growing number of markets, a report said.
The falling c
Bahrain's flag carrier Gulf Air on Tuesday announced an accelerated strategy and a restructuring programme for transforming it into a more dynamic and efficient national carrier through key steps including boosting of Mena operations and poi
Escalating costs are expected to delay completion of the BD1.1 billion ($2.9 billion) Friendship Causeway linking Bahrain and Qatar, said a report.
The project, believed to be the world's longest man-made bridge, was originall
Bahrain's leading telecom services operator Batelco is to begin implementing a restructuring exercise in January in efforts to reduce costs and streamline operations, it was revealed yesterday.
Batelco Group chief executive Sh
Big US and European banks are cutting investment banking jobs in the Middle East as the promise of emerging markets is overshadowed by a need to slash costs and a dearth of deal activity.
Institutions including Deutsche Bank, Cred