Business

Potential growth in East Europe: IMF 18 Oct 2013 - 03:42 am

WARSAW: The economies on Europe’s southern and eastern flanks are able to grow less than half as fast as they could do before...

HSBC to shut India retail brokerage 18 Oct 2013 - 03:41 am

NEW DELHI: British financial giant HSBC announced yesterday that it was closing its struggling retail brokerage and depository business in India, the latest...

Chinese firms to star in Brazil oil auction 18 Oct 2013 - 03:41 am

RIO DE JANEIRO: Chinese oil giants CNOOC and CNPC will be in pole position in next week’s first auction of deep-water concessions in...

Ready for the road 17 Oct 2013 - 06:58 am

A worker prepares a Bajaj motorcycle before it is delivered to a customer at a Bajaj showroom in Kolkata yesterday. Bajaj Auto, India’s...

Louis Vuitton sales dip, shares fall 17 Oct 2013 - 06:54 am

PARIS: French luxury goods giant LVMH fought off a plunge in its shares yesterday, reassuring that Chinese consumers were still hungry for goods...

Twitter picks NYSE for IPO listing 17 Oct 2013 - 06:53 am

SAN FRANCISCO: Twitter Inc will list on the New York Stock Exchange, a marquee IPO win that deals a blow to the tech-heavy...

Italy exports go up by 1.7pc in August 17 Oct 2013 - 06:53 am

ROME: Italy saw exports rise by 1.7 percent in August from July as the economy struggles to exit a two-year recession that has...

Alcoa partly shuts production at Maaden 17 Oct 2013 - 06:53 am

Riyadh: Aluminum producer Alcoa Inc said yesterday that its smelter at Maaden, Saudi Arabia, which is in its startup phase, has temporarily stopped...

EU told to levy carbon charge in own airspace 17 Oct 2013 - 06:52 am

BRUSSELS: The European Union should exert its right to impose carbon charges on aviation within its own airspace, the European Commission said yesterday,...

Iraq says China seeking more crude in 2014 17 Oct 2013 - 06:51 am

DAEGU, South Korea: Iraq said China is seeking to increase purchases of its crude by more than two-thirds next year, stepping up the...

Rise in cement demand may create shortage 17 Oct 2013 - 06:51 am

DOHA: With a large number of big ticket projects in the offing and a projected demand supply gap, Qatar could face a serious...

JPMorgan Chase to pay $100m fine 17 Oct 2013 - 06:43 am

WASHINGTON: The London Whale is the gift that keeps giving for regulators. JPMorgan Chase & Co has agreed to pay the latest in...

Canada to sign trade deal with EU 17 Oct 2013 - 06:41 am

OTTAWA: Canada is close to reaching a free trade deal with the European Union, Canadian Prime Minister Stephen Harper said yesterday. “We will...

Europe moves towards banking union 16 Oct 2013 - 02:26 am

from left: EU Commissioner for Economic and Monetary Affairs Olli Rehn, Swedish Finance Minister Anders Borg and ECB Board Member Jorg Asmussen at...

Ireland launches austerity budget 16 Oct 2013 - 02:16 am

DUBLIN: Ireland launched its seventh successive austerity budget yesterday, paving the way for the eurozone nation’s exit from an international bailout programme in...

Sri Lanka cuts lending rates by 50 basis points 16 Oct 2013 - 02:15 am

COLOMBO: Sri Lanka’s central bank yesterday cut benchmark lending rates by 50 basis points, saying the move was aimed at encouraging growth despite...

UK inflation fails to slow, house prices jump 16 Oct 2013 - 02:15 am

LONDON: British inflation was higher than expected in September and house prices posted their biggest rise in almost three years in August, adding...

TCS profit jumps by 34pc in second quarter 16 Oct 2013 - 02:14 am

MUMBAI: India’s biggest IT outsourcing firm, Tata Consultancy Services, yesterday reported a 34 percent jump in quarterly net profit, beating market forecasts, led...