POSCO CEO says sees Q1 earnings to improve sharply from Q4
SEOUL Jan 29 (Reuters) - The chief executive of South Korean steelmaker POSCO, Chung Joon-yang, said the steelmaker expected its earnings to improve "significantly" in the January to March period from the preceding quarter, driven by lower costs of raw materials and recovery in steel prices in China.
The CEO made the remarks after POSCO reported a 51 percent slump in quarterly operating profit as tepid demand and falling prices offset lower raw material costs helped by a firmer local currency.
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.