Business

Ford Mustang turns 50 11 Apr 2014 - 10:37 pm

A 1965 Ford Mustang GT350 is shown in the Ford Pavilion at the 1964 World’s Fair in New York. The car’s styling strikingly...

Shell drops Norway subsea gas project 11 Apr 2014 - 10:32 pm

OSLO: Royal Dutch Shell has dropped one of Norway’s biggest and most innovative industrial projects due to rising costs and complexity, dealing a...

Fitch upgrades Portugal outlook to ‘positive’ 11 Apr 2014 - 10:32 pm

LISBON: Fitch yesterday switched the outlook on Portugal’s BB+ rating from “negative” to “positive”, a month before the eurozone nation exits its international...

Greek bond yields rise as market euphoria fades 11 Apr 2014 - 10:24 pm

LONDON: Greek bond yields rose yesterday as investors booked profits on the rally that preceded Greece’s return to debt markets, with even its...

India economic gloom deepens as exports fall 11 Apr 2014 - 10:24 pm

NEW DELHI: India’s economic gloom deepened yesterday with a surprise contraction in industrial output, a fall in exports and a jump in the...

India car sales shrink for second year 11 Apr 2014 - 10:23 pm

NEW DELHI: Sales of India’s once-booming passenger car segment shrank for a second year, hit by a sharp economic slowdown and high borrowing...

Africa fast growth transforming commodity flows 11 Apr 2014 - 10:23 pm

DAKAR/JOHANNESBURG: For centuries, colonial era merchants tussled for access to Africa’s raw materials, and huge swathes of Africa’s geography became synonymous with the...

IMF hopes new Indonesian leaders keep up reforms 11 Apr 2014 - 10:23 pm

WASHINGTON: The IMF yesterday praised Indonesia for taking decisive measures to avert a meltdown last year and voiced hope that the next government...

Moody’s downgrades Turkey outlook to ‘negative’ 11 Apr 2014 - 10:22 pm

PARIS: Moody’s rating agency yesterday downgraded its outlook on Turkey to “negative”, putting the country’s investment-grade rating at risk, saying political uncertainty was...

IMF tells world to do more on growth 11 Apr 2014 - 06:07 am

IMF Managing Director Christine Lagarde at the news conference in Washington yesterday. WASHINGTON: The International Monetary Fund yesterday urged nations around the world...

Icahn ends dispute with eBay 11 Apr 2014 - 06:06 am

NEW YORK: Online retail giant eBay said yesterday it had reached a deal with activist investor Carl Icahn (pictured), who had demanded a...

Nestle holds AGM 11 Apr 2014 - 06:05 am

Swiss food maker Nestle CEO Paul Bulcke addresses the annual general meeting of the world’s biggest food and beverage company in Lausanne, Switzerland,...

New Economy Summit 11 Apr 2014 - 06:04 am

Japan’s smartphone-based social networking service ‘Line’ President Akira Morikawa speaks at the New Economy Summit 2014 in Tokyo yesterday. The Line has 400...

QFC Authority unveils online Tax Manual 11 Apr 2014 - 06:02 am

DOHA: The Qatar Financial Centre Authority (QFC Authority) has taken the unprecedented step of publishing its entire in-house tax guidance manual online, marking...

Greece hits bond market with a bang 11 Apr 2014 - 06:02 am

ATHENS: Bailed-out Greece returned to bond markets with a bang yesterday after a four-year exclusion, raising €3bn and sending a major signal that...

BMW to recall more than 156,000 vehicles 11 Apr 2014 - 06:01 am

New York: German carmaker BMW said it would voluntarily recall more than 156,000 vehicles in the United States, including its popular 3 Series...

GM puts two engineers on leave over recall 11 Apr 2014 - 06:01 am

NEW YORK: General Motors said yesterday it had put two engineers on paid leave as it investigates its recall of millions of vehicles...

US jobless claims dip to 7-year low 11 Apr 2014 - 06:01 am

WASHINGTON: New claims for US unemployment insurance benefits tumbled last week to the lowest level in seven years, government data released yesterday showed....