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UAW contract with GM expires, increasing risk of strike

The four-year contract between General Motors and the United Auto Workers has expired as negotiations on a new deal continue. Union officials told GM they would let the contract lapse just before midnight Saturday, increasing the risk of a strike...

Iran signed a $440 million contract on Saturday with local company Petropars to develop the Belal gas field in the Gulf, Iranian state television reported, saying the country's vital energy sector was active despite US sanctions. "This contract and other upcoming contracts show that we are working under the sanctions. The sanctions have not stopped us and we are active," Oil Minister Bijan Zanganeh said at the signing ceremony in remarks carried by state TV. Under the deal signed with a subsidiary of the state-run National Iranian Oil Company (NIOC), Petropars is to produce 500 million cubic feet per day of gas, state TV said. Belal, a field shared with Qatar, straddles the maritime boundary between Iran and Qatar in...

RMG makers seek to redress setbacks

Garment makers have identified the banking and customs-related bottlenecks that have long been hurting business of the country's largest export earner, industry insiders said. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has informed commerce ministry of these problems in...