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Europe's largest equipment manufacturer, the German concern Siemens has reached an agreement with the unions on the reduction of 7,000 jobs. The concern reported on the harmonization of cost saving measures for the units “Energy and Gas Production” and “Continuous Production and Drives”. In connection with the sanctions imposed by the US and EU against Russia, Siemens plans to restructure, abandoning plans to develop a machine-building business in Russia and selling large volumes of turbines for the modernization of Russian power plants. The company sells a turbine manufacturing plant in Leipzig.
Russia’s unemployment rate reached 6.1% in May according to a statement by Labour Minister Anton Kotyakov on Wednesday. The unemployment rate increased from April’s 5.8% which was recorded by Rosstat, the state’s statistics ...
Russia’s manufacturing activity plunged to a record low in April as factories halted operations in a measure to counter the COVID-19 pandemic, a business survey revealed on Thursday. The Markit Purchasing Managers’ ...
The dollar rose against the currencies of oil producers on Thursday as a bounce in oil prices partly calmed investors amid a collapse in global demand. The euro steadied against the dollar and the pound ahead of an EU meeting on economic response ...
Oil prices rose in Asia on Friday after Russia and Saudi Arabia signaled additional output cuts in a joint statement. Russian Energy Minister Alexander Novak and his Saudi counterpart Prince Abdulaziz bin Salman both expressed willingness ...
Oil prices slid on Monday after talks between Saudi Arabia and Russia were postponed, while stocks rose the spread of the coronavirus began to slow down. Brent crude saw a 3-dollar drop in early Asian trade after the meeting set to discuss ...
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