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Technip to slash 6,000 workers in restructuring

MADRID: French offshore services giant Technip has announced that it will go through a major restructuring and cost reduction plan that will see their workforce reduced by around 6,000. Technip made the move to accelerate cost reductions under the expectation of an even more challenging industry environment, and said the plan targeted savings of around €830m ($913.4). In addition to ... Read More »

Royal Jordan mulls restructuring plan for JD128m debt: Chairman Suleiman Hafez

AMMAN: Royal Jordanian (RJ) will seek a restructuring plan for its debt, estimated at JD128 million, according to RJ Chairman Suleiman Hafez. Hafez told members of the Lower House’s Integrity and Fact Finding Committee on Tuesday that the airline owes JD80 million to the Jordan Petroleum Refinery Company, JD15 million to Airport International Group and JD33 million to the catering ... Read More »

Royal Jordanian mulls restructuring plan for JD128m debt: Chairman Suleiman Hafez

AMMAN: Royal Jordanian (RJ) will seek a restructuring plan for its debt, estimated at JD128 million, according to RJ Chairman Suleiman Hafez. Hafez told members of the Lower House’s Integrity and Fact Finding Committee on Tuesday that the airline owes JD80 million to the Jordan Petroleum Refinery Company, JD15 million to Airport International Group and JD33 million to the catering ... Read More »

Public sector restructuring cost JD254.4m instead a cost of JD82.5m

AMMAN: The government’s 2011 restructuring plan was supposed to cost the Treasury JD82.5 million, but the actual cost exceeded JD254.4 million, according to the Audit Bureau. The oversight agency’s recently released 2014 report said the Ministry of Public Sector Development estimated the cost of the administrative reform programme at JD82.5 million and the Finance Ministry allocated the funds in the ... Read More »

Public sector restructuring cost JD254.4m instead of set JD82.5m

AMMAN: The government’s 2011 restructuring plan was supposed to cost the Treasury JD82.5 million, but the actual cost exceeded JD254.4 million, according to the Audit Bureau. The oversight agency’s recently released 2014 report said the Ministry of Public Sector Development estimated the cost of the administrative reform programme at JD82.5 million and the Finance Ministry allocated the funds in the ... Read More »

Public sector restructuring cost exceeds to JD254.4m from JD82.5m

AMMAN: The Audit Bureau stated that the government’s 2011 restructuring plan was supposed to cost the Treasury JD82.5 million, but the actual cost exceeded JD254.4 million. The oversight agency’s recently released 2014 report said the Ministry of Public Sector Development estimated the cost of the administrative reform program at JD82.5 million and the Finance Ministry allocated the funds in the ... Read More »

Dar rejects MPCL price restructuring plan

ISLAMABAD: Finance Minister Ishaq Dar declined a gas price restructuring plan for Mari Petroleum Company Limited (MPCL) which could not be implemented through an agreement between two majority shareholders. After a detailed briefing by retired Lt-Gen Nadeem Ahmad, Managing Director of MPCL, the minister did not agree with the proposal and desired the company and the Petroleum Ministry to present ... Read More »