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Global Investment House refreshed board, senior management
©:  CPI Financial News

Hareb Al-Darmaki has been elected as Chairman and Bader Al-Sumait was nominated, subject to regulatory approvals, as a board member to fill the vacant board seat at Global Investment House (Global), a regional Asset Management and Investment Banking firm headquartered in Kuwait with offices in major capital markets in the MENA region.

QNB denies reports that it is acquiring a loan from China
©:  CPI Financial News

In a statement to Qatar Exchange on 19 January, Qatar National Bank (QNB Group) denied reports that it was in talks with a Chinese bank to arrange a loan for the Qatari bank.

Trump’s America-deregulation likely to increase growth: Moody’s report
©:  CPI Financial News

A market report by Moody’s, Deregulation Seen to Spur to Growth, Trim Risk points to a business and job boom but concerns remain regarding risk.

Mashreq – first bank in the region to have early access to Samsung Pay
©:  CPI Financial News

Mashreq has announced today that it is the first bank in the region to offer its customers early access to Samsung Pay – a best in class and secure mobile payment service that works as a contactless credit or debit card.

QNB Capital and banks act as JLMs on new Republic of Turkey bond
©:  CPI Financial News

Republic of Turkey (Ba1/BB/BBB-) priced yesterday a $2 Billion long 10-year Senior Unsecured global bond.

Moody's assigns first-time ratings to Tanzania's National Microfinance Bank Plc
©:  CPI Financial News

Moody's Investors Service has today assigned first time ratings to National Microfinance Bank Plc (NMB): B1/NP local currency deposit ratings; B2/NP foreign currency deposit ratings; and a b1 baseline credit assessment (BCA) and adjusted BCA.

Restrict corporate tax at 25 per cent with cesses, surcharges: PHDCCI
©:  Business Today| LATEST HEADLINES

Submitting the Budget proposals of the chamber to Finance Minister Arun Jaitley, its President Gopal Jiwarajka also demanded to increase the rebate on interest paid on housing loan by Rs 1.5 lakh from 2017-18.

Long-Range Artillery Gun 'Desi Bofors' To Be First Showcased In Republice Day Parade
©:  Outlook India

Manufactured by Jabalpur-based Gun Carriage Factory (GCF), the 155-mm gun cost about Rs 14.50 crore a piece.

7 Measures for Reducing Labor Costs in Your Small Business
©:  Home Business Magazine

Many small business owners regard their staff as a massive financial burden. Although salaries and labor are a significant portion of all company budgets, they are nonetheless essential to the success of the enterprise. When provided with the requisite tools, employees can design efficient processes to streamline labor costs and enhance their organization’s bottom line.

Copyright: nan728 / 123RF Stock Photo

Lowering Direct Labor Risks

It is challenging to discover a business for which direct labor costs are not a concern. However, some measures can mitigate those costs, whether it is a standard 40-hour work week or overtime hours that are driving up expenses. There are approaches to reduce direct labor costs and continue growing.

Review your procedures and compensation levels. Wages and salaries tend to move one upward despite the market and economic fluctuations. Evaluate your pay scales to ensure they align with current trends. Accordingly, if current workers earn more than their counterparts in equivalent positions, consider delaying raises or offering just cost-of-living increases until payroll meets the prevailing trends.

Upgrade where possible. An up-front investment does not need to substantial. In fact, implementing smart modifications can decrease task times, boost productivity, and deliver significant ROI. Several upgrades enhance growth and also transform culture by establishing current models for behavior.

Institute job sharing. In most communities, there are numerous skilled people with constraints requiring them to work part-time. Utilize this resource for needs requiring less than a full work week or for sharing a full-time job between two part-time employees. This approach can decrease administrative costs without fundamentally reducing the hours during which the full-time individual was available.

Train well from the start. During the onboarding process, make sure that the human resources team trains new employees thoroughly to create a more efficient workforce. Furthermore, when executing innovative technologies, it is crucial that everyone from the top down has a firm grasp of them.

Outsource non-critical tasks. Instead of paying full-time employees overtime wages to complete projects, consider the benefits of outsourcing work to consulting companies. These firms traditionally offer fast and low-cost alternatives to ensure your business and budget stay on track.

Reduce perquisites. Converting pension plans into profit-sharing plans decreases health insurance costs associated with higher deductibles and employees contributing a larger share of the premiums. Eliminating these programs alerts staff members of the seriousness of the need for lowering costs.

Cross-train employees. Workers in the marketplace with a unique skill typically command premium pay. However, they may also hinder flexibility in companies that depend on their talents. Training the workforce to perform a variety of operations equips businesses with the tools to make changes without impairing the capacity to deliver services or products to their clients.

Communicating with and providing frequent updates to employees before undertaking cost reduction campaigns is critical to minimize risks while expanding the value of your employee compensation.

Leveraging Your Existing Workforce

Making difficult decisions is a significant component of operating a business, particularly during periods of economic downturn. When contemplating methods for reducing labor costs, there are alternatives that business owners can investigate to leverage their existing and valuable staff members.

The post 7 Measures for Reducing Labor Costs in Your Small Business appeared first on Home Business Magazine.

Prominent economist website shut as China silences Mao critics
©:  Europe homepage

China silences “nihilist” interpretations of former leader Mao Zedong

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