Business News Archive - December 28, 2008

HAIFA, Israel, Dec. 28 /PRNewswire-FirstCall/ -- Oil Refineries Ltd. (TASE: ORL.TA) (the "ORL"), Israel's largest oil refiner, announced that on December 24, 2008 Carmel Olefins Ltd.

About 85,000 workers in Japan have lost or will lose their jobs through March 2009, the Health, Labor and Welfare Ministry says. The newest estimate of job losses marks nearly a threefold increase over a previous estimate less than a month ago, the Yomiuri Shimbun reported Sunday. The number released Friday shows the Japanese job market is deteriorating amid an economic downturn, the newspaper said. The survey found 85,012 people have lost or will lose their jobs through this coming March, and of them 57,300 are dispatch workers, 15,737 are contract workers such as seasonal fixed-term employees and 7,938 are other types of outsourced hires.

Banks in South Korea are expected to help troubled car makers that are willing to restructure, sources say. Among them is state-run Korea Development Bank, which says it is willing to help automakers hit by the global decline in sales, Yonhap News Agency reported Sunday. Car makers have started to make requests about possible support, but before aid is given, they must streamline operations, a KDB spokesperson said. Yonhap noted that among South Korean car makers, Ssangyong Motor Co.

South Korea's state-run Korea Development Bank said Sunday it can delay a deal to sell Daewoo Shipbuilding & Marine Engineering to Hanwha Group by one month. Yonhap News Agency reported Hanwha signed a deal in November with KDB to buy a 50.37 percent stake in the world's No.

Word of the Day
  • A woman chauffeur.
  • A woman who operates an automobile.
The word 'chaffeuse' comes from French, and is the feminine form of 'chauffeur'.