MOSCOW / Bloomberg After deflecting pressure in 2015 with salary reductions, part-time work and unpaid vacations, companies are increasingly opting to cut jobs as the economy enters its second year of contraction. As Russia’s biggest companies from carmaker AvtoVAZ to nuclear plant operator Rosenergoatom plan job cuts, Labor Minister Maxim Topilin predicts unemployment reaching the highest since 2013 by mid-year. ...

Bloomberg Hungary’s central bank, already facing criticism for a spending spree ranging from real estate to fine art, is now beefing up its security force, citing Europe’s migrant crisis and potential bomb threats among the reasons. The National Bank of Hungary bought 200,000 rounds of live ammunition and 112 handguns for its security company. Additional protection is needed due to ...

Cairo / WAM Sultan bin Saeed Al Mansouri, Minister of Economy of the UAE, has called for stronger joint pan-Arab economic action to counter current challenges, eliminate obstacles to intra-Arab trade and investment and speed up innovation and creativity to achieve economic diversification, development and prosperity. The UAE takes great interest in the issues of joint Arab action as a ...