Melbourne/Sydney: Rio Tinto aims to axe $7 billion (Dh25.74 billion)in costs over the next two years and sell more assets to cushion against weaker commodity prices, while at the same time beefing up output in its lucrative iron ore business.
Melbourne/Sydney: Rio Tinto aims to axe $7 billion (Dh25.74 billion)in costs over the next two years and sell more assets to cushion against weaker commodity prices, while at the same time beefing up output in its lucrative iron ore business.
The firm is the only global iron ore producer that has not slowed iron ore expansion plans, forging ahead
London/Dubai: Iran’s food distribution system is in crisis even though Western sanctions do not directly target the market, badly hurting the poor and turning some staples into luxuries.
Private importers are shrinking away from deals made risky by turmoil in the rial currency, and many foreign banks are reluctant to finance even
Brussels: Morale in the Eurozone’s economy improved for the first time in almost a year in November, but signs of stagnant investment plans for next year in industry dampened hope of a quick recovery from recession.
Economic sentiment in the Eurozone rose 1.4 points to 85.7, ending an eight-month run of falls, the European
London: Hopes that US political leaders may be inching towards a budget deal that will avoid automatic spending cuts and tax increases have given markets a big boost on Thursday.
Comments by President Barack Obama and Speaker of the House John Boehner that a deal to avoid a budget crisis could be reached before the year-end helped US markets turn
Seoul: South Korean consumer electronics giant Samsung Electronics Co is taking aim at its Japanese rivals with an Android-powered digital camera that allows users to swiftly and wirelessly upload pictures to social networking sites.
The Galaxy camera lets users connect to a mobile network or Wi-Fi to share photographs and video without having to
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