Business

Mayor’s visit 25 Jun 2013 - 04:48 am

London Mayor Boris Johnson meets employees at Lloyd’s of London insurance market in the City of London yesterday.

Qatari HNWIs accrue wealth at faster pace 25 Jun 2013 - 04:48 am

DOHA: The high net worth individuals (HNWIs) in Qatar is accruing wealth at a faster pace than developed economies. An estimated 42 percent...

Tax dispute blocks Nigeria LNG exports 25 Jun 2013 - 04:47 am

LAGOS: Maritime authorities have halted liquefied natural gas exports from Nigeria due to a dispute over fees and taxes, blocking ships at a...

Brent reaches three-week low on China growth worries 25 Jun 2013 - 04:46 am

LONDON: Brent crude traded at its lowest in three weeks after dropping below $100 yesterday as the dollar firmed and investors worried that...

Vodafone to take over Kabel in $10bn deal 25 Jun 2013 - 04:44 am

LONDON/FRANKFURT: Vodafone has agreed to buy Germany’s largest cable operator Kabel Deutschland for ¤7.7bn ($10bn), adding TV and fixed-line services to help defend...

Essar Energy expects Indian demand growth to boost sales 25 Jun 2013 - 04:44 am

Bangalore: Essar Energy Plc said it expects another strong year, backed by continued improvement in refining margins and higher demand from its core...

Spain resists pressure for swift moves on nationalised banks 25 Jun 2013 - 04:43 am

MADRID: Spain’s economy minister said yesterday he would not be pushed into selling two nationalised banks too quickly or too cheaply as bankers...

Suntory key unit raises $3.94bn in IPO 25 Jun 2013 - 04:42 am

TOKYO: Japanese drinks giant Suntory said yesterday that a sale of shares in its food-and-beverage unit raised a less-than-expected $3.94bn, but the IPO...

Access Industries offers to buy rest of Clal Industries 25 Jun 2013 - 04:42 am

TEL AVIV: US-based Access Industries has offered to acquire the remaining 50.1 percent of Israeli investment company Clal Industries that it does not...

Tesco could face investor revolt over pay report 25 Jun 2013 - 04:42 am

LONDON: Tesco, the world’s third-biggest retailer, could face a revolt over executive pay at its annual shareholders’ meeting on Friday after an advisory...

Tapie grilled over scandal linked to Lagarde 25 Jun 2013 - 04:41 am

PARIS: French investigators yesterday placed tycoon Bernard Tapie in custody and interrogated him in a corruption probe over a huge state payout to...

IMF help puts Somalia on road to relief 25 Jun 2013 - 04:41 am

NAIROBI: The International Monetary Fund will offer Somalia technical support and advice, a first step in efforts to secure debt relief for the...

Russian president changes economic team amid slowdown 25 Jun 2013 - 04:41 am

MOSCOW: Russian President Vladimir Putin reshuffled his top economic aides yesterday in a move analysts said was aimed at giving the Kremlin more...

Apple dips below $400 after analyst remarks 25 Jun 2013 - 04:40 am

NEW YORK: Apple shares fell below $400 yesterday after comments from market analysts suggesting the iconic gadget maker is losing momentum. At midday,...

South Korea pledges 15pc cut to Iran oil imports 25 Jun 2013 - 04:40 am

SEOUL: South Korea has pledged to the United States that it will cut imports of Iranian crude by 15 percent in the next...

Copper prices melt to lowest level 25 Jun 2013 - 04:40 am

Molten copper being poured at the KGHM Copper and Precious Metals smelter and processing plant in Glogow, Poland. Copper fell to its lowest...

Qatari bourse index slips by 53.58 points 25 Jun 2013 - 04:39 am

Doha: Qatar Exchange lost 53.58 points or 0.58 percent to reach 9,177.98 points from the previous closing of 9,231.56 points. The volume of...

IDB backs Morocco’s first sukuk 25 Jun 2013 - 04:32 am

Rabat: Morocco has won backing from the Saudi-based Islamic Development Bank for its first sukuk as the cash-strapped North African country looks to...