Business

EU-China steel tussle 13 Jun 2013 - 01:24 am

A worker loads steel bars for export at a port in Lianyungang, Jiangsu province, yesterday. The European Union plans to lodge a complaint...

British banks announce Libor reforms 13 Jun 2013 - 01:20 am

LONDON: The British Bankers’ Association yesterday announced changes to Libor interest-rate transparency in a bid to avoid a repeat of last year’s rate-rigging...

Doha Bank launches Al Hayer GCC, Mena Fund 13 Jun 2013 - 01:19 am

DOHA: Doha Bank, has launched “Al Hayer GCC & Mena Fund” for Qatari Individuals, Corporates and Institutions. It is an open-ended fund that...

India posts weak industrial output 13 Jun 2013 - 01:12 am

NEW DELHI: India’s industrial output grew by a weaker-than-expected two percent in April but the grim data Wednesday was offset by global ratings...

Sri Lanka allows foreigners to take out capital 13 Jun 2013 - 01:12 am

COLOMBO: Sri Lanka yesterday announced the easing of foreign exchange controls to allow foreigners to repatriate capital as well as profits from real...

Qatar’s annual inflation rate hits 3.5 percent 13 Jun 2013 - 01:11 am

DOHA: Qatar’s inflation, based on consumer price index (CPI), rose 3.5 percent year-on-year (y-o-y) and the index was slightly up by 0.1 percent...

Greece back in crisis mode on TV shutdown 13 Jun 2013 - 01:10 am

Greece’s public TV employees broadcast a Web-TV signal in a control room at the ERT headquarters in Athens yesterday, a day after a...

Oman needs to cut down on spending: IMF 13 Jun 2013 - 01:09 am

DUBAI: Oman needs to contain state spending and raise non-oil revenue in the medium term to keep its fiscal balance sustainable, the International...

IKEA Doha receives 500,000 visitors in three months 13 Jun 2013 - 01:08 am

DOHA: Swedish home furnishing ginat IKEA’s newly-opened store in Qatar witnessed over 500,000 visitors in just three months, a press statement said yesterday. ...

BAE Systems names new chairman 13 Jun 2013 - 01:08 am

LONDON: British arms maker BAE Systems appointed yesterday business veteran Roger Carr as its new Chairman, replacing Dick Olver who came under pressure...

Kuwait invites bids for solar energy project 13 Jun 2013 - 01:07 am

KUWAIT CITY: Kuwait invited bids yesterday to build a solar farm to produce 70 megawatts of electricity by 2016, the first phase of...

Flying bicycle 13 Jun 2013 - 01:06 am

A man takes pictures of a flying bicycle carrying a dummy during a public presentation at Letnany’s fair hall in Prague, yesterday. The...

CP All to take over Siam Makro 13 Jun 2013 - 12:51 am

Shoppers queue at a checkout counter at one of Makro stores in Bangkok yesterday. A majority of CP All Pcl shareholders approved yesterday...

MSCI stirs fears about Egypt, Greece markets 13 Jun 2013 - 12:51 am

LONDON: MSCI, the most widely used equity index provider, prompted market fears about both Greece and Egypt yesterday, after demoting the former and...

Asian markets slip on BoJ move 13 Jun 2013 - 12:50 am

HONG KONG: Asian markets fell in holiday-reduced trade yesterday, as the Bank of Japan’s refusal to unveil any fresh stimulus measures raised concerns...

Sainsbury outshines Tesco in first quarter sales 13 Jun 2013 - 12:50 am

LONDON: J Sainsbury, Britain’s No. 3 supermarket chain, met forecasts for underlying sales growth in its first quarter, outperforming major rivals with an...

India’s Apollo buys US tyre maker Cooper 13 Jun 2013 - 12:49 am

NEW YORK: India’s Apollo Tyres will take over US-based Cooper Tire & Rubber in a $2.5bn all-cash deal, creating the world’s seventh-largest tire...

Opec sees room for its over-target oil output 12 Jun 2013 - 12:02 am

LONDON: Opec predicted world oil demand will grow more quickly in the rest of 2013 and indicated the group can keep pumping more...