Business

RAKBANK eyes benchmark-sized debut bond issue 10 Jun 2014 - 12:21 am

DUBAI: United Arab Emirates-based lender National Bank of Ras Al Khaimah (RAKBANK) may sell a benchmark-sized debut bond issue after announcing plans to...

Bulgaria not given up on South Stream 10 Jun 2014 - 12:17 am

SOFIA: Bulgaria has not given up on plans to build the South Stream pipeline to deliver Russian gas to Europe and believes the...

Wadhwa in Doha to promote high end projects 10 Jun 2014 - 12:17 am

Doha: The Wadhwa Group, Mumbai-based developer, is in Doha to promoter its high end projects. Over the last 45 years, the Group has...

Morgan Stanley exits physical oil business 10 Jun 2014 - 12:16 am

New York: Morgan Stanley is selling its controlling stake in oil pipeline company TransMontaigne Inc to NGL Energy Partners LP for $200m, essentially...

Gap to sell ‘Made in Myanmar’ goods soon 10 Jun 2014 - 12:16 am

YANGON: High street giant Gap is to become the first American retailer to source garments made in Myanmar, the US embassy in Yangon...

Emirates Steel raises $1.3bn in refinancing 10 Jun 2014 - 12:15 am

DUBAI: Abu Dhabi’s Emirates Steel has obtained $1.3bn in credit facilities, becoming one of a string of United Arab Emirates firms to lower...

Beltone plans share split 10 Jun 2014 - 12:15 am

CAIRO: Egyptian investment bank Beltone Financial will discuss the possibility of splitting its shares today, it said in a statement to the Cairo...

Qatari bourse index loses 1.37 percent 10 Jun 2014 - 12:14 am

Doha: Qatar Exchange index ended in the red when trading closed yesterday at 12,969.65 points down 179.90 points, or 1.37 percent, from the...

PetroChina refinery revamp delayed 09 Jun 2014 - 11:22 pm

BEIJING: Revamping a PetroChina subsidiary refinery to process sour crude is taking months longer than expected, cutting the firm’s crude oil purchases from...

China central bank targets rural sector 09 Jun 2014 - 11:21 pm

BEIJING: China’s central bank said it will cut the level of reserves banks must hold for those that have sizeable loans to the...

Egypt extends five percent supplementary tax to companies 09 Jun 2014 - 11:21 pm

CAIRO: Egypt extended a five percent supplementary tax to include companies as well as wealthy individuals, drawing a mixed response from businesses yesterday...

Cybercrime cuts deep in global economy, says study 09 Jun 2014 - 11:20 pm

WASHINGTON: Cybercrime has grown into a global industry worth around half a trillion dollars, with no sign of slowing, a research report said...

QNB: From humble beginning to a global bank 09 Jun 2014 - 11:15 pm

Today is an historic day,marking the 50th anniversary of the establishment of The QNB Group. A celebration of 50 years of excellence charting...

Samsung heirs face $6bn inheritance tax 09 Jun 2014 - 08:45 am

Samsung Electronics Chairman Lee Kun-hee with daughters Lee Boo-jin (right) and Lee Seo-hyun. SEOUL: The heirs of ailing Samsung Group patriarch Lee Kun-hee...

Arista debuts on NYSE 09 Jun 2014 - 08:44 am

Jayshree Ullal (centre), President and CEO of Arista Networks, raises a gavel after her company’s stock began trading during its IPO on the...

Recession fears in Thailand 09 Jun 2014 - 08:43 am

Tourists walk past a discount promotion placard displayed at a shop in Bangkok yesterday. Thailand economy shrank 2.1 percent in the first three...

UAE central bank warns of new property bubble 09 Jun 2014 - 08:41 am

DUBAI: Low residential rental yields in Dubai and Abu Dhabi may indicate growing imbalances and overheating in the real estate sector, the United...

Saudi mulls sovereign wealth fund 09 Jun 2014 - 08:41 am

DUBAI: Saudi Arabia’s Shura Council, an influential advisory body to the government, will discuss a proposal for the country to establish a sovereign...