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Thyssenkrupp records $2.3 billion write-down on steel division
Germany's Thyssenkrupp on Wednesday announced a €2.1 billion ($2.3 billion) write-down on its steel unit due to a "gloomy" outlook, highlighting the difficulty of winning over Czech energy group EPH as co-owner of the business. As a result of the write-down,...
Copper: Codelco to spend USD 720 million on Chuquicamata mine
Chile's Codelco, the world's leading copper producer, plans to invest an additional $720m to renovate the 100-year-old Chuquicamata copper mine in an attempt to halt the company's overall production decline. The company has already spent $5.7bn to convert the open-pit...
Crude steel: production in Germany fell by 4.1% in January-October
According to data released by the German steel federation Wirtschaftsvereinigung Stahl (WV Stahl), Germany's crude steel production amounted to 2.88mn tons in October this year, down 8.8% year-on-year. In the period from January to October this year, the country's...
Russia-Italy bilateral trade needs a political breakthrough to unlock its economic potential
Russia and Italy share a long-standing partnership. Italian architects played a significant role in the development of St. Petersburg, the Russian port city on the Baltic Sea. It was not until February 1924 that direct relations were officially established. In October...