Business

Sun Media shutters 11 newspapers in Canada; 360 jobs lost 17 Jul 2013 - 07:54 am

MONTREAL: Sun Media announced yesterday it is closing eight small-town newspapers across Canada and three of its free urban dailies, as it shifts...

QNB, PayPal tie-up offers better online shopping 17 Jul 2013 - 07:51 am

Ali Rashid Al Mohannadi (left), Executive General Manager and Chief Operations Manager at QNB, and Elias Ghanem, General Manager, PayPal Mena, during the...

EU backs France in Mercedes row 17 Jul 2013 - 07:50 am

BRUSSELS: EU Industry Commissioner Antonio Tajani gave France some succour and Germany’s Daimler cause for concern yesterday in a row over new cars...

Workers’ strike 17 Jul 2013 - 07:49 am

Anti-austerity protesters and parliamentarians of the anti-bailout radical leftist SYRIZA party participate in a rally in Athens, during a 24-hour general strike, yesterday....

Qatari investors eye Dubai’s Palm Jumeirah 17 Jul 2013 - 07:48 am

DOHA: Dubai-based developer Seven Tides is receiving increasing interest from Qatari investors for the phase one release of its exclusive Anantara Residences Dubai,...

European refiners buy Emirati oil to cover shortage 17 Jul 2013 - 07:48 am

LONDON/SINGAPORE: Two cargoes of Emirati crude oil are heading to Europe in a rare arbitrage move as European refiners try to find cheap...

Bank Dhofar aims for merger talks with smaller peer 17 Jul 2013 - 06:56 am

DUBAI: Oman’s Bank Dhofar has approached smaller peer Bank Sohar with a view to merging to create Oman’s second-largest bank, Dhofar said yesterday,...

China accuses Glaxo of bribery, misconduct 16 Jul 2013 - 05:04 am

A Chinese national flag flutters in front of a GlaxoSmithKline (GSK) office building in Shanghai. The British drugmaker allegedly used travel agencies and...

Nakilat’s first half profit drops 16 Jul 2013 - 05:03 am

DOHA: The Qatar Gas Transport Company (Nakilat) has seen its profits dip in the first half of 2013 due to a loss on...

Qatari firms adopt smarter business practices: Survey 16 Jul 2013 - 05:02 am

Mazin Khoury, CEO of American Express Middle East. DOHA: Companies in Qatar are investing in more comprehensive expense management practices as part of...

Wall Street rises slightly after Citigroup earnings 16 Jul 2013 - 05:02 am

NEW YORK: US stocks edged up yesterday after hitting record highs in the previous session, as mixed US economic data offset rosy earnings...

China Construction Bank to set up Luxembourg base 16 Jul 2013 - 05:02 am

BRUSSELS: The China Construction Bank is to set up its European base in Luxembourg, the latter’s Finance Minister Luc Frieden announced yesterday. The...

Saudi falls from 15-month high on weak earnings; Gulf mixed 16 Jul 2013 - 05:02 am

DUBAI: Saudi Arabia’s bourse slipped off a 15-month high yesterday as earnings misses from petrochemical firms spurred profit-taking, while other regional markets were...

Moody’s puts Singapore banks on negative outlook 16 Jul 2013 - 05:01 am

SINGAPORE: Credit rating agency Moody’s yesterday downgraded the outlook of Singapore’s three main banks to “negative” from “stable” amid rising property prices and...

Nissan revives Datsun to woo emerging market buyers 16 Jul 2013 - 05:00 am

Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, with hatchback ‘Datsun Go’ after its launch in Gurgaon on the outskirts of New...

Central bank hikes rates to stop rupee slide 16 Jul 2013 - 05:00 am

MUMBAI: India’s central bank hiked two interest rates late yesterday to support the ailing rupee in a move that could slow the recovery...

UK charges 2 brokers over rate scandal 16 Jul 2013 - 05:00 am

LONDON: Britain’s fraud prosecutor yesterday charged two former brokers at interdealer broker RP Martin with conspiracy to defraud, stepping up its investigation into...

Islamic Holding Group records QR4.4m net profit 16 Jul 2013 - 04:44 am

DOHA: The Islamic Holding Group’s net profit for the first half of 2013 reached QR4.4m, compared with QR4.1m for the same period in...