Business

Fed monthly asset purchase cut by $10bn 19 Jun 2014 - 10:16 am

WASHINGTON: The Federal Reserve yesterday slashed its forecast for US economic growth this year but expressed confidence the recovery was largely on track...

World’s millionaires growing, and getting richer 19 Jun 2014 - 10:15 am

New York: The number of millionaires worldwide grew by nearly 2 million last year and the group grew nearly 14 percent richer, boosted...

QNB launches leadership development programme 19 Jun 2014 - 10:15 am

Doha: QNB in collaboration with Franklin Covey launched a specialised development programme entitled “The QNB Group Leadership Development Programme (LDP)” for Senior Management...

Egypt reaches first deal to revise gas prices with foreign company 19 Jun 2014 - 10:15 am

CAIRO: Egypt has agreed to revise the price it pays to buy natural gas to be extracted by German oil and gas group...

Data sharing deal with US referred to EU court 19 Jun 2014 - 10:14 am

DUBLIN: Ireland’s High Court yesterday asked the European Court of Justice (ECJ) to review a European Union-US data protection agreement in light of...

Russia cuts collateral for US firms 19 Jun 2014 - 10:14 am

MOSCOW: Russia moved to prevent the US payment card firms Mastercard and Visa quitting Russia by pledging to reduce the size of the...

SocGen ends $311m Malaysia roadshow 19 Jun 2014 - 10:14 am

KUALA LUMPUR: Societe Generale (SocGen) has concluded the marketing roadshow for its 1bn ringgit ($311m) sale of Islamic bonds in Malaysia and will...

Pakistan to auction local-currency sukuk 19 Jun 2014 - 10:13 am

Islamabad: Pakistan’s central bank will auction a three-year local currency sukuk, or Islamic bond, more than a year after it last issued such...

SunTrust Banks pays nearly $1bn for loan abuse 19 Jun 2014 - 10:13 am

WASHINGTON: SunTrust Banks agreed to pay $968m to settle US charges, rooted in the 2008 financial crisis, that it mislabeled huge numbers of...

Vodafone Qatar revenue grows by 30pc 19 Jun 2014 - 04:41 am

Vodafone Qatar’s Chairman Sheikh Dr Khalid bin Thani Al Thani (centre) with other officials at the General Assembly. DOHA: Vodafone Qatar recorded a...

QE index rebounds, adds 70.96 points 19 Jun 2014 - 12:08 am

Doha: Qatar Exchange index gained 70.96 points, or 0.57 percent, yesterday to advance to 12,591.32 points from 12,520.36 on Tuesday. The volume of...

Arabtec CEO quits, plans stake sale 19 Jun 2014 - 12:06 am

DUBAI: The chief executive of major Dubai construction firm Arabtec resigned yesterday after a tumultuous six weeks during which the company’s share price...

GM hit with $10bn suit, recalls damaged brand 19 Jun 2014 - 12:06 am

Washington: A new lawsuit says General Motors Co should compensate millions of car and truck owners for lost resale value, potentially exceeding $10bn,...

Falling Portugal and Spain debt rates point to recovery 19 Jun 2014 - 12:06 am

LISBON: Spain and Portugal both breezed through bond auctions yesterday, with rates on the former eurozone laggards plunging after the ECB slashed its...

India authority orders Coke plant’s closure 19 Jun 2014 - 12:05 am

LUCKNOW: Authorities in northern India have ordered the closure of a Coca-Cola bottling plant at the centre of protests that it is extracting...

Qatar woos investors to logistic sector 18 Jun 2014 - 01:53 am

The Minister of Economy and Trade, H E Sheikh Ahmed bin Jassim bin Mohamed Al Thani (centre); the Minister of Municipality and Urban...

RasGas delegation attends World Petroleum Congress 18 Jun 2014 - 01:52 am

H E Dr Mohamed bin Saleh Al Sada (second right), the Minister of Energy and Industry, with the RasGas team in Moscow. Doha:...

Alfardan Automobiles, QIB ink pact 18 Jun 2014 - 01:51 am

D Anand, General Manager, QIB’s Personal Banking Group and Mohammed Kandeel, Chief Operating Officer of Alfardan Group – Automotive Division after the pact....