Business

China nod for setting up three private banks 26 Jul 2014 - 12:17 am

SHANGHAI: China has approved the setting up of three private banks, including one by Internet giant Tencent, the industry regulator said yesterday, in...

Russia takes aim at McDonald’s as US ties worsen 26 Jul 2014 - 12:17 am

MOSCOW: McDonald’s burgers and shakes may become the latest victims of worsening ties between Moscow and Washington after a Russian consumer watchdog agency...

GM profits hit by recall problems 25 Jul 2014 - 02:14 am

NEW YORK: General Motors is crying and Ford is laughing: The top US automakers posted wildly different earnings yesterday, the first hurt by...

Barley season 25 Jul 2014 - 02:14 am

A French farmer drives an old US combine, dating back to the 1950’s, as he harvests barley in a field in Sancourt, near...

Roasters’ favourite 25 Jul 2014 - 02:13 am

A worker sorts coffee berries at a factory in Kienjege, northwest of Kenya’s capital Nairobi, yesterday. Kenya is a relatively small producer of...

Bentley lowers sales growth expectations, plans expansion 25 Jul 2014 - 02:10 am

LONDON: Luxury carmaker Bentley expects to increase sales volumes this year by less than previously forecast, Chief Executive Wolfgang Duerheimer said yesterday as...

Dubai Islamic Bank beats estimates with 59.6pc Q2 gain 25 Jul 2014 - 02:08 am

DUBAI: Emirates’ largest Shariah-compliant lender, posted a 59.6 percent jump in second-quarter net profit yesterday, aided by higher fee and investment income. Beating...

Hershey warns of sticker shock from chocolate price hike 25 Jul 2014 - 02:08 am

NEW YORK: Hershey Co, one of the world’s best known names in chocolate, expects its first price hike in three years to crimp...

Emirates NBD trims 2014 loan growth guidance to 4-5pc 25 Jul 2014 - 02:07 am

DUBAI: Emirates NBD trimmed its 2014 loan growth forecast but raised its expectations for how much lending would earn it this year after...

BMW i8 Supercar 25 Jul 2014 - 01:36 am

The BMW i8 car on display during a promotional event on Capitol Hill in Washington DC, yesterday. German carmaker BMW’s new hybrid petrol-electric...

Takeover offer 25 Jul 2014 - 01:35 am

A woman walks past a Club Med travel agency in Paris yesterday. Club Mediterranee’s board of directors will meet today to decide whether...

IMF lowers global growth forecast 25 Jul 2014 - 01:34 am

Chief Economist of IMF, Olivier Blanchard, speaks during the presentation of the report ‘Global Economic Perspectives’, in Mexico City yesterday. WASHINGTON: The International...

Qatar bourse tumbles on lacklustre earnings 25 Jul 2014 - 01:33 am

DOHA: Qatar bourse tumbled yesterday on weaker-than expected company earnings, coupled by heavy sell-off by local retail investors ahead of Eid holidays. The...

US stocks rise after China, Europe data 25 Jul 2014 - 01:32 am

NEW YORK: US stocks yesterday opened higher following improved economic data in China and Europe and another round of generally good corporate earnings...

Nokia’s fortunes brighten on heavy network spending 25 Jul 2014 - 01:32 am

hELSINKI: Finnish telecom equipment group Nokia jumped back into profit in the second quarter by focusing on its networks business, the company said...

Gold hits 1-month low 25 Jul 2014 - 01:31 am

NEW YORK/LONDON: Gold hit a one-month low yesterday after robust economic data from the United States, China and the euro zone deterred investors...

Wal-Mart replaces chief of US division 25 Jul 2014 - 01:19 am

NEW YORK: US retail giant Wal-Mart Stores yesterday announced it is replacing the head of its Walmart US division, which has had declining...

N-KOM gets QR400m worth GDI contracts 24 Jul 2014 - 08:29 am

Abdullah Fadhalah Al Sulaiti (left), Chairman of N-KOM, and Ibrahim J Al Othman, CEO of GDI, exchanging contracts after signing in the presence...