Business

Irish economy on sounder footing as bailout ends 20 Dec 2013 - 01:08 am

DUBLIN: Ireland’s economy grew more than twice as fast as expected in the third quarter, thanks to buoyant construction and investment, putting it...

US home sales tumble, jobless claims rise 20 Dec 2013 - 01:08 am

WASHINGTON: US home resales hit a near one-year low in November and new filings for unemployment benefits unexpectedly rose last week, putting a...

Libya steps up imports of fuel as strikes bite 20 Dec 2013 - 01:07 am

ZAWIYA: Libya is stepping up fuel imports, with four tankers queuing at one port as the Opec producer’s second-largest refinery is running at...

Egypt’s current account hits surplus: Report 20 Dec 2013 - 01:07 am

CAIRO: Egypt’s current account recorded a surplus in the first quarter of the financial year, boosted by billions of dollars in aid from...

EU finance ministers reach banking union accord 20 Dec 2013 - 01:07 am

BRUSSELS: EU finance ministers late on Wednesday reached a banking union accord which will hand Brussels unprecedented new powers to prevent failing banks...

BLME sees Gulf sukuk issuance picking up 20 Dec 2013 - 01:06 am

DUBAI: Bank of London and The Middle East (BLME) expects Islamic bond issuance to pick up in the Gulf next year as companies...

Batelco’s foreign ambitions crimped 20 Dec 2013 - 01:06 am

DUBAI: Attempts by Bahrain’s Batelco to offset shrinking earnings at home by expanding abroad have run into trouble as parts of its biggest...

RBI keeps rates on hold despite rising inflation 19 Dec 2013 - 07:23 am

Indian construction workers carry a sheet of glass at a construction site in Mumbai yesterday. Reserve Bank of India kept a key interest...

China Mobile warms up to Apple 19 Dec 2013 - 07:22 am

Customers view various products at an Apple Store in Beijing, yesterday. Reports stated that China Mobile could be headed for a deal with...

Citibank likely to be sued 19 Dec 2013 - 07:21 am

People walk past a Citibank branch in New York. The US Justice Department is preparing to file civil fraud charges against Citigroup Inc...

Petrol price hike in Vietnam 19 Dec 2013 - 07:20 am

A woman pumps petrol into a motorcycle at a petrol station in Hanoi yesterday. Fuel distributors in Vietnam have been allowed to raise...

Pakistan energy sector struggles 19 Dec 2013 - 07:19 am

Pakistani farmers load oranges onto a truck yesterday. Pakistani government has struggled to woo investment in the energy sector to boost the economy...

EU agrees on bank closure funding 19 Dec 2013 - 07:14 am

BRUSSELS: Eurozone finance ministers made progress yesterday on some details of a plan to close banks, paving the way for completion of a...

Brent holds above $108 ahead of Fed decision 19 Dec 2013 - 07:13 am

LONDON: Brent oil futures held above $108 a barrel yesterday with investors reluctant to lock in positions ahead of a US Federal Reserve...

EU investigates green charge exemptions for German industry 19 Dec 2013 - 07:13 am

BRUSSELS: Germany’s multi-billion euro exemption of heavy industry from green energy charges will be investigated fully to see whether it is unfair, the...

AirAsiaX places $6bn order for 25 Airbus A330s 19 Dec 2013 - 07:12 am

PARIS: Low-cost Malaysian airline AirAsiaX announced yesterday that it was ordering 25 long-range A330-300 aircraft with a catalogue price of nearly $6bn (¤4.4bn)....

British unemployment rate plunges 19 Dec 2013 - 07:12 am

LONDON: Britain’s unemployment rate has fallen to its lowest level in four-and-a-half years, data showed yesterday, testing the Bank of England’s plans to...

Darty to sell Turkish business as turnaround gathers pace 19 Dec 2013 - 07:11 am

PARIS: Darty Plc, Europe’s third-largest electricals retailer by sales has agreed to sell its loss-making Turkish business and plans to buy a French...