Business

Ikea abandons target of doubling sales in 8 years 07 Jan 2014 - 11:14 pm

STOCKHOLM: Swedish furniture giant Ikea said yesterday it had dropped its target of doubling sales between the 2012-2013 fiscal year and 2020. “Our...

Jarir Marketing Q4 profit rises 16 percent 07 Jan 2014 - 11:14 pm

DUBAI: Saudi Arabia retailer Jarir Marketing posted a 16 percent rise in fourth-quarter net profit yesterday, slightly above estimates as sales of smart...

Qatari bourse index adds 14.20 points 07 Jan 2014 - 11:13 pm

Doha: Qatar Exchange pursued its upswing trend yesterday adding 14.20 points, or 0.13 percent to advance to 10,798.69 points from 10,784.49 on Monday....

EU official says China’s financial sector largely closed 07 Jan 2014 - 11:13 pm

BEIJING: China’s financial sector is not open enough to foreign participation and key obstacles remain to investment, a top European Union official said...

Turkey sees impact of graft probe on economy 07 Jan 2014 - 11:13 pm

ISTANBUL: Uncertainty caused by Turkey’s corruption scandal could hit economic growth in the near term, Finance Minister Mehmet Simsek said yesterday, while ratings...

Sri Lanka raises $1bn in debt sale 07 Jan 2014 - 11:12 pm

COLOMBO: Sri Lanka said yesterday it had raised $1bn through a sovereign bond issue despite a warning by the International Monetary Fund against...

Doha Insurance gets regulatory nod for float 07 Jan 2014 - 08:54 am

DOHA: Doha Insurance received regulatory approval for the issuance of 24.26 million new shares to shareholders through a rights issue. The company would...

Turkish lira at new low 07 Jan 2014 - 08:54 am

Tourists check rates outside a currency exchange office in central Istanbul yesterday. ANKARA: The Turkish lira plunged to a new low against the...

World’s first Internet-connected toothbrush makes debut at CES 07 Jan 2014 - 08:53 am

The Kolibree toothbrush, the world’s first Internet-connected toothbrush, on display at CES in Nevada, Las Vegas, yesterday. LAS VEGAS: Brush smarter. That’s the...

Qatar bourse index ends in the green 07 Jan 2014 - 08:51 am

DOHA: Supported by a hunt for high-dividend stocks, Qatar Exchange continued its bullish run yesterday. Qatari index was the second strongest performer in...

Chevrolet to roll out 4G-connected cars 07 Jan 2014 - 08:50 am

Alan Batey, Senior Vice-President of Global Chevrolet, speaks during a Chevrolet Connected by OnStar press event at CES. LAS VEGAS: The new Chevrolets...

Bank merger woes 07 Jan 2014 - 08:48 am

Office workers pass an Oversea-Chinese Banking Corp (OCBC) building in the central business district of Singapore yesterday. Singapore OCBC’s bid to take over...

Strike at French shipping firm 07 Jan 2014 - 08:47 am

Ferries of the maritime transport company Societe Nationale Corse Mediterranee (SNCM) are docked in the port of Marseille, southern France, yesterday due to...

SNB hard hit by gold price fall 07 Jan 2014 - 08:44 am

ZURICH: Switzerland’s central bank said yesterday that it lost billions in 2013 as gold prices plunged and therefore could not pay dividends to...

Qatar second top fertilizer supplier to Brazil 07 Jan 2014 - 08:41 am

DOHA: Qatar emerged as the second top supplier of fertilizers to Brazil during the first three quarters of 2013 with a huge 268...

Turkish lira at new low 07 Jan 2014 - 08:41 am

ANKARA: The Turkish lira plunged to a new low against the dollar yesterday, as a high-level corruption scandal continued to hurt investor confidence....

Brent crude edges up 07 Jan 2014 - 08:40 am

NEW YORK: Brent crude oil edged higher yesterday in choppy trading as reports of restarted production at a Libyan oilfield, which hinted at...

European stock markets down; euro climbs 07 Jan 2014 - 08:40 am

LONDON: Upbeat eurozone data helped boost the euro yesterday but top European stock markets mostly ended in the red, dragged down by losses...