Business

Infosys founders moving out 09 Oct 2014 - 03:06 am

FROM LEFT: Founders of Indian IT firm Infosys Technology Nandan Nilekani, K Dinesh, S D Shibulal, N S Raghavan, N R Narayana Murthy...

Mogadishu’s first ATM machine 09 Oct 2014 - 02:39 am

A Somali man uses the first-ever ATM cash withdrawal machine installed in the Somalian capital Mogadishu, yesterday, by the Salaam Somali Bank in...

Yusuff Ali to invest $85m in East India Company 09 Oct 2014 - 02:37 am

Yusuff Ali MA (sitting-left) and Sanjiv Mehta, Chairman of East India Company along with Ranjan Mathai, Indian High Commissioner to the UK, Abdul...

Infiniti unveils Q80 Inspiration 09 Oct 2014 - 02:31 am

Doha: Infiniti signals a clear intent to break into the top tier of the premium sedan category with the eye-catching Q80 Inspiration concept...

IMF warns of fresh financial crisis threat 09 Oct 2014 - 02:30 am

WASHINGTON: A prolonged period of ultra-low interest rates poses the threat of a fresh financial crisis by encouraging excessive risk taking on global...

LME wins court battle 09 Oct 2014 - 02:27 am

A file picture shows traders operating in the pit at the London Metal Exchange (LME) in central London. LME won a court battle...

Bahrain bourse preparing Islamic product range 09 Oct 2014 - 01:27 am

Manama: Bahrain’s stock exchange plans to launch a range of Islamic investment products, including a novel equity-based murabaha financing tool and Islamic real...

Brent recovers from 27-month low 09 Oct 2014 - 01:27 am

NEW YORK: Brent crude hit a 27-month low yesterday before recovering partially to close above $91 a barrel, with analysts saying the market...

Gold rises nearly one percent after Fed minutes 09 Oct 2014 - 01:26 am

NEW YORK/LONDON: Gold rose about 1 percent yesterday after minutes of the last US Federal Reserve policy meeting showed US central bankers concerned...

US fiscal 2014 budget deficit falls to $486bn 09 Oct 2014 - 01:26 am

WASHINGTON: The US budget deficit fell by nearly a third during fiscal 2014 to $486bn as federal revenues grew far faster than spending,...

World Bank CFO gives up bonus 09 Oct 2014 - 01:23 am

WASHINGTON: The World Bank’s top Chief Financial Officer Bertrand Badre gave up a controversial $94,000 bonus after a staff uproar over the issue,...

Turkey slashes growth estimates 09 Oct 2014 - 01:23 am

ANKARA: Turkey has slashed its growth estimates and raised its inflation forecast for 2014 and 2015, Deputy Prime Minister Ali Babacan said yesterday,...

Siri a distraction to drivers 09 Oct 2014 - 01:22 am

WASHINGTON: Drivers using hands-free virtual assistants like Apple’s Siri can be distracted by the technology, creating safety hazards, according to a study. The...

Air France strike cost hits €500m 09 Oct 2014 - 01:22 am

PARIS: Struggling French flag carrier Air France yesterday said last month’s two-week strike would have an impact of around €500m on its bottom...

Venezuelans turn to bitcoins to bypass currency controls 09 Oct 2014 - 01:22 am

CARACAS: Tech-savvy Venezuelans looking to bypass dysfunctional economic controls are turning to the bitcoin virtual currency to obtain dollars, make Internet purchases —...

Russian car sales plummet 20.1pc in Sept 09 Oct 2014 - 01:21 am

MOSCOW: Car sales in Russia plunged 20.1 percent in September as the economic toll from the Ukraine crisis roiled the economy. Sales slumped...

OECD predicts weak eurozone growth 09 Oct 2014 - 01:21 am

PARIS: The OECD pointed to a weak outlook for growth in the eurozone, particularly in Germany, yesterday when its index of leading economic...

Abraaj Group acquires majority stake in Libstar 09 Oct 2014 - 01:20 am

DUBAI: Emerging market-focused private equity firm Abraaj Group has bought a majority stake in Liberty Star Consumer Holdings (Libstar), a South African food...