Business

Egypt likely to convert funds into bonds 13 Jul 2013 - 01:57 am

LONDON: Egypt could convert part of the $12bn of loans and grants pledged by Gulf nations this week into tradable bond securities, a...

US-EU trade talks make headway 13 Jul 2013 - 01:57 am

WASHINGTON: US and Euro-pean Union trade negotiators claimed progress yesterday as they closed out the first week of ambitious talks to create a...

S&P upgrades Ireland outlook 13 Jul 2013 - 01:56 am

DUBLIN: Standard & Poor’s upgraded its outlook on Ireland’s credit rating yesterday, saying its debt may fall faster than expected, nurturing European Union...

US gives foreign banks one year to join tax evasion push 13 Jul 2013 - 01:56 am

WASHINGTON: The United States yesterday put off until mid-2014 the deadline for foreign banks to agree to supply information on the accounts of...

Qatar, RWE in initial talks on DEA unit 13 Jul 2013 - 01:55 am

FRANKFURT: Qatar, the world’s biggest liquefied gas producer which is looking to grow more quickly abroad, has held initial talks with Germany’s No...

European stocks edge up on US inflation 13 Jul 2013 - 01:55 am

LONDON: European stock markets rose slightly yesterday, as traders weighed higher inflation data in the US and signals from China that growth this...

India’s May industrial output shrinks 13 Jul 2013 - 01:54 am

NEW DELHI: India’s industrial output shrank by a shock 1.6 percent in May from a year ago, data showed yesterday, adding to mounting...

Infosys profit up 3.7pc in first quarter 13 Jul 2013 - 01:54 am

NEW DELHI: Indian IT outsourcing giant Infosys reported yesterday a nearly four percent rise in quarterly net profit and kept its market forecast...

Turkey faces interest rate dilemma as lira tumbles 12 Jul 2013 - 05:21 am

Turkish lira banknotes. ISTANBUL: Turkey’s central bank faced calls yesterday to raise interest rates to steady the embattled lira despite political pressure from...

Oil hits 15-month high 12 Jul 2013 - 05:21 am

LONDON: Global oil prices hit a 15-month high point yesterday, boosted by signs of strengthening demand in top consumer the US and ongoing...

QE extends rally, index gains 47.80 points this week 12 Jul 2013 - 05:21 am

DOHA: Qatar Exchange (QE) index extended its rally this week adding 47.80 points or 0.51 percent as the trading closed at 9,419.97 points...

ADIA to invest $200m in Indian real estate 12 Jul 2013 - 05:20 am

MUMBAI/DUBAI: Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, plans to invest about $200m in Indian real estate,...

Qatar to see bigger inflow of institutional investments 12 Jul 2013 - 05:20 am

DOHA: With MSCI putting Qatar on global investors’ radar by enhancing its market status to ‘Emerging’, the country is expected to witness new...

Bahrain’s GFH hopes for more active investment to secure recovery 12 Jul 2013 - 05:19 am

Manama: Bahrain-based investment firm Gulf Finance House (GFH) hopes a leaner balance sheet and a revamped business model can revive the fortunes of...

Binladin completes SR1bn sukuk sale 12 Jul 2013 - 05:19 am

DUBAI: Saudi Arabia’s Binladin Group, one of the largest construction firms in the kingdom, has completed a SR1bn ($266.7m) Islamic bond sale, two...

Most Gulf bourses gain 12 Jul 2013 - 05:18 am

DUBAI: Saudi Arabia’s Al Rajhi Bank fell yesterday, souring bourse sentiment after the kingdom’s largest listed lender posted a near-flat quarterly profit, while...

Iran asks India to settle all oil payments in rupees 12 Jul 2013 - 05:18 am

NEW DELHI: Iran has asked India to settle all oil trade including $1.53bn owed to Tehran in the partly convertible rupee as the...

Iraq offers three discovered oil blocks to India 12 Jul 2013 - 05:17 am

NEW DELHI: Iraq has offered three discovered oil blocks to India and has agreed to consider investing in Indian Oil Corp's 300,000 barrels...