Kuwait’s Mobile Telecommunications Co. (Zain) said on Thursday it would cut 300 jobs and outsource 450 others in Nigeria, reducing its headcount in Africa’s biggest mobile phone market by more than a third.

Zain had announced on Monday it planned to cut its 15,500 global workforce by about 2,000 through to 2011 to cut costs and boost margins, although many of those employees would continue working as outsourced contractors. (Reuters)
---Hyundai considers shifting some production from India
South Korean car giant Hyundai Motor said it is considering shifting production of one of its premium models to Europe from India.
“Hyundai Motor is considering moving production of the i20 to Europe because about 90 percent of them are being shipped there,” said spokesman Jinho Ki. (AFP)
----Korean Air says quarterly loss widens on weak won
Korean Air Lines Co. said Thursday its first quarter loss widened as weakness in the South Korean won drove up costs denominated in dollars.
Korean Air lost 526.3 billion won ($413 million) in the three months ended March 31, the company said in a statement. Korean Air posted a net loss of 325.5 billion won a year earlier. (AP)
------Tata Steel may shut UK plant Tata Steel Ltd.’s Corus unit may shut a plant in northeastern England, threatening about 2,000 jobs, after a group of buyers abandoned a purchasing contract. “Today’s decision is the direct result of four companies trying to terminate a 10-year contract which is not even halfway through,” Chief Executive Officer Kirby Adams said. (Bloomberg)