Business

QE tapering in the US could act as brake on growth: QNB Group 04 Aug 2013 - 12:47 am

Doha: Tapering of Quantitative Easing (QE) in the US could act as a brake on global growth, according to QNB Group. Concerns about...

Iraq headed for first annual oil output drop in 3 years 04 Aug 2013 - 12:47 am

LONDON: Iraq’s oil revival is stalling, and unless momentum is regained, Baghdad will report an output decline for 2013, its first after two...

Huge Saudi metro projects aim to shift economy beyond oil 04 Aug 2013 - 12:45 am

RIYADH/DUBAI: A $22.5bn plan to build Riyadh’s first metro rail system aims to achieve more than improving the quality of life in the...

Commodity prices gain on US, Chinese data 04 Aug 2013 - 12:45 am

LONDON: Oil and base metal prices gained last week as positive US and Chinese economic data fuelled higher demand expectations, according to analysts....

Banks, diaspora help Lebanon ride out turmoil 04 Aug 2013 - 12:45 am

DUBAI: Lebanon’s politics are descending into sectarian conflict and its economy is starved of investment. But its sovereign bonds are steady, foreign reserves...

Russia’s gas exports to Europe rise 04 Aug 2013 - 12:45 am

MOSCOW: Gazprom increased gas exports to Europe, its main source of revenues, by almost a third in July, even as consumers in Europe...

Michael Dell sweetens buyout offer 04 Aug 2013 - 12:44 am

NEW YORK: Michael Dell agreed to sweeten his proposal to buy Dell Inc to as much as $24.9bn with a special dividend, securing...

April-June Toyota profit doubles 03 Aug 2013 - 03:08 am

An attendant opens the door of a Toyota Lexus IS 300h at the company’s showroom in Tokyo yesterday. TOKYO: Toyota said yesterday that...

US crude falls as job data disappoints 03 Aug 2013 - 03:08 am

NEW YORK: US oil futures fell by more than $1 yesterday as US jobs data came in below expectations, tempering economic optimism that...

Spain basks in summer jobs boom 03 Aug 2013 - 03:08 am

MADRID: Spain basked in a summer jobs boom in July when the number of people registered as being unemployed dropped for the fifth...

West-to-east oil pipeline proposed in Canada 03 Aug 2013 - 03:08 am

MONTREAL: TransCanada announced plans for the construction of a $12bn pipeline to carry oil from the Alberta oil sands to the Atlantic seaboard....

Australia to tax bank deposits 03 Aug 2013 - 03:07 am

SYDNEY: Australia said yesterday that its budget deficit has blown out to A$30bn and revenues are shrinking, as it unveiled a pre-election mini-budget...

European indexes end mixed; gold prices fall 03 Aug 2013 - 03:07 am

LONDON: Europe’s main stock markets mostly shrugged off disappointing monthly US jobs data yesterday that suggested the recovery in the world’s top economy...

WTO rules against China in US chicken dispute 03 Aug 2013 - 03:07 am

GENEVA: China breached the rules of global commerce by imposing duties on imports of US chicken, the World Trade Organisation ruled yesterday, saying...

Indonesian growth slips below 6pc 03 Aug 2013 - 03:07 am

JAKARTA: Indonesian growth slipped below six percent last quarter as exports and investment fell in Southeast Asia’s top economy due to global weakness,...

RBS picks new head as bank seeks to exit state control 03 Aug 2013 - 03:06 am

LONDON: State-rescued Royal Bank of Scotland promoted New Zealander Ross McEwan to the post of chief executive yesterday ahead of the bank’s expected...

US auto sales accelerate to best July since 2006 03 Aug 2013 - 03:05 am

CHICAGO: US auto sales continued to accelerate, posting the best July performance since 2006 on Thursday as consumers flocked to dealerships to replace...

Motorola unveils Android smartphone 03 Aug 2013 - 02:25 am

Two Motorola employees transfer data between two of Motorola’s Moto X as the American-manufactured smartphone is unveiled at a news conference in New...