Business

EU takes on Starbucks, Apple tax break 12 Jun 2014 - 04:46 am

BRUSSELS: The European Union launched a probe yesterday to determine whether the special tax deals offered to Apple and Starbucks by authorities in...

Growth flat for developing countries: WB 12 Jun 2014 - 04:46 am

WASHINGTON: The World Bank lowered its 2014 growth forecasts for the global economy, but said advanced economies’ rebound from a rough start would...

Mitsubishi, Siemens to bid Alstom jointly 12 Jun 2014 - 04:45 am

FRANKFURT: German engineering giant Siemens is working on a joint bid with Mitsubishi Heavy Industries (MHI) for the energy assets of French group...

No deal at Russia, Ukraine gas talks 12 Jun 2014 - 04:45 am

BRUSSELS: EU-brokered talks with Russia and Ukraine finished yesterday without an accord as Kiev dug in over how to fix a gas price...

GOIC, Turkish International Coop Platform sign MoU 12 Jun 2014 - 04:44 am

DOHA: The Gulf Organisation for Industrial Consulting (GOIC) yesterday signed a memorandum of understanding (MoU) with the Turkish International Cooperation Platform (ICP) to...

Zara owner reports rare fall in profit 12 Jun 2014 - 04:44 am

MADRID: Spanish global clothing giant Inditex, owner of fast-fashion brand Zara, announced yesterday a rare fall in quarterly profits even as it pushed...

UAE faces risks in property sector: IMF 12 Jun 2014 - 04:44 am

DUBAI: The United Arab Emirates is likely to cut its fiscal spending further in 2014 as the oil and real estate-powered economy is...

Etisalat tightens pricing of debut bond offering 12 Jun 2014 - 04:43 am

DUBAI: Abu Dhabi-based telecoms operator Etisalat has tightened price guidance across all four tranches of its planned debut bond issue, a document from...

Eurozone jobless rate far higher than advanced countries 12 Jun 2014 - 04:43 am

PARIS: Eurozone unemployment is still far higher than the average rate across advanced countries, the OECD said yesterday just as Britain reported another...

France vows to abide by budget deficit target 12 Jun 2014 - 04:43 am

PARIS: France said yesterday over €4bn ($5.4bn) of extra savings this year would help it bring down its public deficit to 3.8 percent...

UK unemployment falls to lowest since 2009 12 Jun 2014 - 04:42 am

LONDON: Britain’s labour market recovery gathered speed as a record number of people found work and drove unemployment to its lowest level in...

Shanghai to launch gold exchange 11 Jun 2014 - 10:37 pm

An employee adjusts a gold necklace on a model at a shop in Wuhan, Hubei province of China. Banks have started trial gold...

Qatari bourse index loses 58 points 11 Jun 2014 - 10:33 pm

Doha: Qatar Exchange index lost 58 points, or 0.45 percent, yesterday to close at 12,912.81 points from the previous closing of 12,970.81 points...

India exports hit six-month high 11 Jun 2014 - 10:32 pm

NEW DELHI: India’s exports jumped to a six-month high in May, data showed yesterday, in an encouraging sign for new Indian Prime Minister...

Egypt current account deficit narrows to $232.7m 11 Jun 2014 - 10:32 pm

CAIRO: Egypt’s current account was in surplus between January and March, according to Reuters calculations, helping narrow the overall budget deficit three-quarters of...

Flybe posts first pre-tax profit in four years 11 Jun 2014 - 10:31 pm

London: British carrier Flybe Group Plc posted its first pretax profit in four years, beating analyst estimates, as it exited unprofitable routes and...

Afghanistan economy under the gun as bank blacklist looms 11 Jun 2014 - 10:31 pm

KABUL: The most pressing challenge awaiting Afghanistan’s new leader may not be the worsening violence, fractured US relationship or declining aid, but an...

Russia launches low-cost airline 11 Jun 2014 - 07:19 am

Russian Prime Minister Dmitry Medvedev, accompanied by Minister of Transport Maxim Sokolov (left) and Aeroflot CEO and Director General Vitaly Savelyev (second left),...