Business

BlackBerry cuts 250 jobs 26 Jul 2013 - 02:17 am

OTTAWA: Struggling smartphone maker BlackBerry has fired 250 employees in a new product testing division at its Canadian headquarters, a spokeswoman said yesterday....

GM profits, revenue beat forecasts 26 Jul 2013 - 02:17 am

NEW YORK CITY: General Motors yesterday reported better-than-expected profit and revenue for the second quarter on strong US demand and shrinking losses in...

Qatar Luxury Group to launch first boutique 26 Jul 2013 - 02:16 am

DOHA: Qatar Luxury Group will launch the first boutique for its luxury brand Qela in Doha in late September, selling leather goods, shoes,...

Statoil profit falls on lower oil, gas prices 26 Jul 2013 - 02:16 am

OSLO: State-backed Norwegian oil giant Statoil said yesterday that second-quarter profit fell more than expected due to sliding oil and gas prices and...

UK builds on economic recovery 26 Jul 2013 - 02:16 am

LONDON: Britain’s economic recovery accelerated in the second quarter, official data showed yesterday, but finance minister George Osborne insisted that the government would...

New Nexus 7 tablet 25 Jul 2013 - 01:35 am

The new Nexus 7 tablet is demonstrated in San Francisco, California, yesterday. Google Inc showcased a new Nexus 7, a slimmer version of...

IMF sees Saudi jobs challenge 25 Jul 2013 - 01:35 am

WASHINGTON: Saudi Arabia may not be able to create all the private sector jobs it needs for its rapidly growing population, which could...

Fitch affirms Qatar Real Estate Investment Company’s ratings 25 Jul 2013 - 01:35 am

DOHA: Fitch Ratings has affirmed Qatar Real Estate Investment Company’s (Alaqaria) Long-term Issuer Default Rating (IDR) and senior unsecured rating at ‘BBB+’, and...

Sudan currency falls to record low 25 Jul 2013 - 01:34 am

KHARTOUM: Sudan’s currency has fallen to a record low against the dollar on the black market since South Sudan started reducing cross-border oil...

Facebook revenue rises 25 Jul 2013 - 01:34 am

SAN FRANCISCO: Facebook surprised Wall Street with stronger-than-expected earnings for the second quarter yesterday on a sharp rise in revenues, sparking a 16...

UK police probe Shell, ENI in Nigerian oil block deal 25 Jul 2013 - 01:33 am

LAGOS: British police are investigating a money-laundering allegation related to a big oil field bought by Shell and ENI from Nigeria for $1.3bn,...

Biden urges India to open up to US firms 25 Jul 2013 - 01:32 am

US Vice President Joe Biden (second right) talks while Chairman of Indian Software firm Wipro, Azim Premji (left), Boeing India President Pratyush Kumar...

Lower profit 25 Jul 2013 - 01:31 am

The CAT logo on back of a Caterpillar excavator machine at a work site in Detroit, Michigan, yesterday. Caterpillar Inc reported a lower...

Real estate sector transactions up 81pc 25 Jul 2013 - 01:31 am

DOHA: The real estate sector witnessed a standard growth of 81 percent taking the combined value of transactions, during the second week of...

US stocks mostly lower 25 Jul 2013 - 01:30 am

NEW YORK CITY: US stocks Wednesday closed mostly lower, with weak earnings and a gloomy outlook from Caterpillar weighing down the Dow. The...

Saudi firm Almarai eyes hybrid sukuk 25 Jul 2013 - 01:30 am

DUBAI: Saudi Arabian dairy producer Almarai Co has chosen four banks to arrange the sale of a hybrid Islamic bond, or sukuk, banking...

Iberdrola warns of $225m hit from energy reforms 25 Jul 2013 - 01:30 am

MADRID: Spanish utility Iberdrola said fresh energy reforms would wipe at least ¤170m ($225m) from pre-tax earnings this year, and potentially ¤260m annually...

New Japan venture possible: Air Asia chief 25 Jul 2013 - 01:29 am

SINGAPORE: Malaysia-based budget carrier AirAsia could enter into a new venture in Japan, its chief executive Tony Fernandes said yesterday. His comments came...