Business

Oil gains $3 on technical buying 18 Dec 2014 - 12:08 am

NEW YORK: Crude oil jumped nearly 5 percent yesterday as important chart support prices held fast after nearly a week of selling, leading...

Rupiah near 16-year low 18 Dec 2014 - 12:07 am

An employee holds Indonesian rupiah notes at a store in Jakarta. The rupiah tumbled against US dollar, hovering around 12,900 per US dollar...

First Finance Company wins awards 18 Dec 2014 - 12:05 am

Aisha Al Hudaifi, Head of the Ladies Section at First Finance Company, a subsidiary of Barwa Bank Group, accepting the award on behalf...

Final shift at Ford’s Genk plant 18 Dec 2014 - 12:04 am

Workers leave the factory for one of their final shifts at the Ford Motor Co plant in Genk, Belgium, yesterday. Ford announced that...

Petrobras chief won’t quit despite graft probe 18 Dec 2014 - 12:03 am

RIO DE JANEIRO: The chief executive of Brazil’s state oil giant Petrobras said yesterday that she will not resign despite the corruption scandal...

China’s Baidu invests in controversial Uber 18 Dec 2014 - 12:02 am

BEIJING: Chinese search engine Baidu, the country’s equivalent of Google, announced yesterday it has bought a stake in Uber for an undisclosed sum,...

Kirchner attends summit 18 Dec 2014 - 12:01 am

Argentina’s President Cristina Fernandez de Kirchner arrives for the Southern Common Market (MERCOSUR) trade bloc annual summit in Parana, north of Buenos Aires, ...

Kurdistan oil exports to hit 800,000 bpd 18 Dec 2014 - 12:00 am

LONDON: Iraq’s semi-autonomous Kurdistan Regional Government will ramp up oil exports in the coming months, moving it closer to economic self-sufficiency while it...

Saudi to keep massive spending in 2015 budget 17 Dec 2014 - 11:52 pm

RIYADH: Saudi Arabia will continue massive public spending despite a 50 percent drop in the price of oil, which provides the bulk of...

GE to distribute $40bn to shareholders 17 Dec 2014 - 11:51 pm

NEW YORK: US industrial conglomerate General Electric said it plans to distribute $40bn to its shareholders in 2015 and 2016 in the form...

Lloyds tipped to pay first dividend in six years 17 Dec 2014 - 11:51 pm

LONDON: Lloyds Banking Group is expected to win permission from Britain’s financial regulator to pay its first dividend since it was bailed out...

Britain to sell more shares in Lloyds in next 6 months 17 Dec 2014 - 11:51 pm

LONDON: Britain will sell more shares in Lloyds Banking Group over the next six months, moving the bailed-out bank another step towards a...

Apple cleared in iPod antitrust suit 17 Dec 2014 - 11:51 pm

SAN FRANCISCO: A US jury cleared Apple of abusing its dominant market position in an antitrust case over online music for the iPod....

Uber fights French ban at EU 17 Dec 2014 - 11:50 pm

BRUSSELS: Uber, the taxi app company under fire around the world, has filed an EU complaint against a French ban on amateur drivers...

Japan’s trade deficit shrinks in November 17 Dec 2014 - 11:50 pm

TOKYO: Japan’s trade deficit in November shrank by nearly a third from a year ago, helped by higher exports and falling oil bills,...

Australia’s Woodside invests in LNG projects 17 Dec 2014 - 11:49 pm

SYDNEY: Shares in Woodside Petroleum jumped yesterday following the Australian energy producer’s decision to pay $2.75bn to acquire stakes in liquefied natural gas...

US current account deficit widens in Q3 17 Dec 2014 - 11:49 pm

WASHINGTON: The US current account deficit unexpectedly rose in the third quarter as an increase in exports was offset by a rewidening of...

Consumer prices post biggest fall in six years 17 Dec 2014 - 11:49 pm

WASHINGTON: US consumer prices recorded their biggest drop in nearly six years in November as oil prices tumbled, but that did not change...