World Bulletin / News Desk
Italian carmaker Fiat SpA will stop production at its Pomigliano plant for two more weeks at the end of October because of a weak European market.
Fiat will place workers at Pomigliano, where it makes the Panda compact, on a temporary layoff scheme from Oct. 29 to Nov. 9, a company source said on Tuesday.
Fiat has sent workers home from many of its Italian plants on temporary layoffA this year because of slack demand. At Pomigliano, workers will end a two-week layoff on Oct. 5.
Fiat Chief Executive Sergio Marchionne said last month the European car market's five-year slump made it "more likely" there will be co-ordinated plant closures across the continent.
However, he reassured unions he would not close factories in Italy despite a plunging domestic market.
Car sales dropped further in austerity-hit France, Italy and Spain last month and European car executives have warned that a rebound may be years rather than months away.
Truck and tractor maker Fiat Industrial SpA, which was spun off from Fiat last year, will also halt production at the San Mauro Torinese plant of its U.S. farm equipment unit CNH Global NV, the Fiom trade union said in a statement on Tuesday.
Workers at the CNH plant will be put on temporary layoff for nine days in November and five days in December, it said.
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China launched the first stage of an Asian development bank, in what is widely seen as a challenge to U.S.-backed international banks.
Aid agencies are tentatively also giving away cash and letting refugees decide for themselves what they need. The money is being wisely spent and rarely wasted
The research firm IHS estimated this week that ISIL militants were producing about $2 million worth of crude oil a day before recent U.S.-led air strikes.
The conflict between Turkish and Greek Cypriots on the island continues over the ownership of the hydrocarbon reserves in the exclusive economic zones off the shore of the island
Aeroplane maker company Boeing sells plane parts to Iran, as part of easing the sanctions and first step since 1979
OPEC's second-largest producer, Iran is normally among the first members of the oil producers' group to call for supply cuts to support prices.
The 21-member Asia-Pacific Economic Cooperation (APEC) bloc said they would advance structural reforms to unleash new sources of growth.
Ukraine needs to pay its previous debt to Russia by the end of the year and pay in advance for getting new volumes of natural gas
The loss of Khafji's 280,000 barrels per day of Arabian Heavy crude will be felt more in Kuwait, which has far less spare output than its neighbour
Under Lufthansa's proposals, pilots would still be able to retire early, but the age would gradually increase to 60 from 55.
Labor tension on the rise as high inflation reduces spending power.
Third quarter growth was lowest in more than five years, threatening annual target
De Margerie was killed when a business jet collided with a snow plough during takeoff at Moscow's Vnukovo International Airport overnight, the company and airport officials said.
Stabilised political and security situation, the launch of government initiatives toward fiscal consolidation and strong support from external donors are some of the reasons given for improved economic outlook.