Business

Foreign banks get transition period on US tax evasion law 04 May 2014 - 02:57 am

New York: The US Treasury Department said on Friday that the Internal Revenue Service (IRS) this year and next will take into account...

Abbott plans to sell older products 04 May 2014 - 02:57 am

NEW YORK: Abbott Laboratories is considering selling a big chunk of its mature drugs, joining a list of large drugmakers seeking to sell...

US Fed likely to hike rates in June 2015 04 May 2014 - 02:57 am

San Francisco: The US Federal Reserve could start raising benchmark interest rates in just over a year, based on trading in US short-term...

LinkedIn revenue forecast below expectations 04 May 2014 - 02:56 am

New York: LinkedIn Corp’s full-year revenue forecast fell short of market expectations, prompting at least 14 brokerages to cut their price targets on...

Google faces antitrust lawsuit on mobile search 04 May 2014 - 02:56 am

New York: Consumer rights law firm Hagens Berman said it filed a nationwide antitrust class-action lawsuit against Google Inc alleging the company “illegally...

Japan plans tax breaks for funds 04 May 2014 - 02:56 am

TOKYO: Japan is considering expanding tax breaks and loosening some rules to promote investment in start-ups as part of the second instalment of...

China’s April services growth quickens slightly 04 May 2014 - 02:55 am

BEIJING: Growth in China’s services sector accelerated slightly in April as new orders held steady, an official survey showed, an encouraging sign of...

Sun vows action as court halts merger 04 May 2014 - 02:55 am

NEW DELHI: India’s Sun Pharma said yesterday it will take “appropriate action” after a court suspended the generic giant’s $3.2bn takeover of troubled...

RBS profits triple in first quarter 02 May 2014 - 11:47 pm

The logo of Royal Bank of Scotland (RBS) is attached at the entrance to the RBS headquarters in London yesterday. LONDON: Britain’s state-rescued...

Hitachi Rail moves HQ to London 02 May 2014 - 11:46 pm

Japan’s Prime Minister Shinzo Abe (left) and Toshiaki Higashihara (right) of Hitachi Ltd in front of a high speed train at St Pancras...

Indonesian inflation eases 02 May 2014 - 11:45 pm

A worker holds a bundle of vegetables at Senen market in Jakarta. Annual inflation eased in April for a third straight month, giving...

Egypt oil concession auction deadline extended 02 May 2014 - 11:45 pm

A military helicopter flies above a container ship in the Suez canal near Ismailia port city, northeast of Cairo, yesterday. Egypt has extended...

Asian spot LNG prices ease on weak demand 02 May 2014 - 11:44 pm

SINGAPORE: Asian spot liquefied natural gas (LNG) prices fell this week amid weak seasonal demand and ample supply, traders said. Traders also were...

Asian spot LNG prices ease on weak demand 02 May 2014 - 11:44 pm

SINGAPORE: Asian spot liquefied natural gas (LNG) prices fell this week amid weak seasonal demand and ample supply, traders said. Traders also were...

Investors pick dollar debt for emerging market re-entry 02 May 2014 - 11:43 pm

LONDON: Investors dipping their toes back into emerging markets are choosing hard currency debt which, thanks to rich yields and expectations for a...

Russian oil output down for fourth month in a row 02 May 2014 - 11:38 pm

MOSCOW: Russian oil output, the world’s largest, slipped by 0.2 percent to 10.54 million barrels per day in April, declining for the fourth...

Oil price rises on Ukraine fighting, strong US job growth 02 May 2014 - 11:38 pm

LONDON: Brent crude futures rose above $108 a barrel yesterday as fighting between Ukraine’s army and a pro-Russian rebels intensified, stoking fears of...

AstraZeneca rejects Pfizer bid 02 May 2014 - 11:37 pm

LONDON: US drugmaker Pfizer Inc increased its offer for AstraZeneca Plc to £63bn ($106bn) yesterday, but the British company promptly rejected the proposal,...