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September 5: News view in pics

  • September 5: News view in pics

    September 5: News view in pics

  • <p>A man walks past a logo of Reliance Communication before the Annual General Meeting in Mumbai</p><p><b>Reliance Communications, India&#39;s second-largest mobile phone carrier by subscribers, will restructure its wireless business over the next 30 days, a move that a source with knowledge of the matter said could slash 700 jobs.</b></p><p>The debt-laden company, controlled by billionaire Anil Ambani, has reported eight straight quarters of profit drops and is betting on the sale of its telecoms tower business to cut its more than $7 billion net debt.</p><p>Reliance said in a statement on Monday it would discontinue with its current structure with three regional heads, and would name a new chief operating officer, and create a "leaner and flatter" structure, but declined to comment on possible job losses.</p>

    A man walks past a logo of Reliance Communication before the Annual General Meeting in Mumbai

    Reliance Communications, India's second-largest mobile phone carrier by subscribers, will restructure its wireless business over the next 30 days, a move that a source with knowledge of the matter said could slash 700 jobs.

    The debt-laden company, controlled by billionaire Anil Ambani, has reported eight straight quarters of profit drops and is betting on the sale of its telecoms tower business to cut its more than $7 billion net debt.

    Reliance said in a statement on Monday it would discontinue with its current structure with three regional heads, and would name a new chief operating officer, and create a "leaner and flatter" structure, but declined to comment on possible job losses.

  • <p>A jewellery shop owner displays gold jewellery in Kolkata</p><p><b>Gold demand in India, the world&#39;s biggest buyer, was moderate on Monday after the prices in the local market rose 2% to a record high tracking firmness in the world market and due to a weak rupee, dealers said.</b></p><p>At 3:57 pm, the October contract on the Multi Commodity Exchange was up 1.74% at Rs 28,273 per 10 grams, after hitting a record high of Rs 28,355 earlier in the day.</p><p>The contract has risen over 20% since the beginning of August.</p>

    A jewellery shop owner displays gold jewellery in Kolkata

    Gold demand in India, the world's biggest buyer, was moderate on Monday after the prices in the local market rose 2% to a record high tracking firmness in the world market and due to a weak rupee, dealers said.

    At 3:57 pm, the October contract on the Multi Commodity Exchange was up 1.74% at Rs 28,273 per 10 grams, after hitting a record high of Rs 28,355 earlier in the day.

    The contract has risen over 20% since the beginning of August.

  • <p>A gas pump is seen hanging from the ceiling at a petrol station in Seoul</p><p><b>Brent crude oil fell below $111 a barrel on Monday, as fears of another US recession slowing fuel demand overshadowed concerns that a tropical storm may shut down some US offshore oil production.</b></p><p>US employment growth ground to a halt in August, reviving recession fears and piling pressure on President Barack Obama and the Federal Reserve to provide more stimulus to aid the frail economy.</p><p>Brent futures for October fell $1.80 to a low of $110.53 a barrel, and by 1650 IST were trading around $111.10.</p>

    A gas pump is seen hanging from the ceiling at a petrol station in Seoul

    Brent crude oil fell below $111 a barrel on Monday, as fears of another US recession slowing fuel demand overshadowed concerns that a tropical storm may shut down some US offshore oil production.

    US employment growth ground to a halt in August, reviving recession fears and piling pressure on President Barack Obama and the Federal Reserve to provide more stimulus to aid the frail economy.

    Brent futures for October fell $1.80 to a low of $110.53 a barrel, and by 1650 IST were trading around $111.10.

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