News in Brief
IMIDRO head appointed
IRNA – Minister of Industry, Mines and Trade Abbas Aliabadi appointed Mohammad Reza Movassaqinia as the head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) board of directors on Tuesday.
IMIDRO is a major state-owned holding company active in the mining sector in Iran. IMIDRO has eight major companies and 55 operational subsidiaries active in steel, aluminum, copper, cement and mineral exploitation fields.
UK joblessness climbs
AFP – UK unemployment increased in the three months to the end of June, official data showed Tuesday, as the economy struggles with high inflation.
The number of people out of work increased to 4.2 percent compared to 4.0 percent in the three months to the end of May, the Office for National Statistics (ONS) said.
The rise is “mainly due to people taking slightly longer to find work than those who started job hunting in recent months,” said Darren Morgan, director of economic statistics at the ONS.
Russian Central Bank jacks up rates to 12%
REUTERS – Russia’s Central Bank hiked its key interest rate by 350 basis points, to 12% on Tuesday, an emergency move to halt the ruble’s recent slide after a public call from the Kremlin for tighter monetary policy.
The extraordinary rate meeting came after the ruble plummeted past the 100 threshold against the dollar on Monday.