Business

Detroit bankruptcy another setback for unions 28 Jul 2013 - 01:49 am

WASHINGTON: Detroit’s historic bankruptcy filing is a major setback for public employee unions that have spent years trying to ward off cuts to...

Germany to take on less new debt than planned 28 Jul 2013 - 01:49 am

BERLIN: Germany will take on slightly less new debt this year than planned, Finance Minister Wolfgang Schaeuble said in an interview. Tax revenue...

EU, China resolve solar panel row 28 Jul 2013 - 01:47 am

Workers making their way along a solar panel field in Hami, China’s farwest Xinjiang region. BRUSSELS, BEIJING: China and the European Union defused...

French PM in New Caledonia 28 Jul 2013 - 01:46 am

French Prime Minister Jean-Marc Ayrault (centre) visits the KNS nickel plant with French Digital Economy Minister Fleur Pellerin (right) yesterday in Koné. Ayrault...

GM sacks staff over Indian recall 28 Jul 2013 - 01:44 am

NEW DELHI: General Motors said yesterday it has fired “several employees” after violations of company policy led to the recall of 114,000 of...

Qatar Airways grounds 787 27 Jul 2013 - 01:18 am

A Boeing 787 Dreamliner, owned by Qatar Airways, performs at the Farnborough Airshow in southern England. DUBAI: Qatar Airways yesterday said it had...

Oil slips towards $107 over demand worries 27 Jul 2013 - 01:18 am

LONDON: Brent crude oil fell towards $107 per barrel on Friday on worries over a looming Chinese economic slowdown and decades-high oil output...

Total reports firm quarterly results, raises output 27 Jul 2013 - 01:17 am

PARIS: French oil group Total reported a 67.0-percent boost to net profit in the second quarter to ¤2.5bn ($3.3bn), but said yesterday this...

Oil, gas producer flags Egypt investment concerns 27 Jul 2013 - 01:17 am

LONDON: International gas and oil producer BG Group Plc said civil unrest and leadership change in Egypt had led it to review further...

Indian rupee gains after government advisor comments 27 Jul 2013 - 01:16 am

MUMBAI: India’s rupee firmed against the dollar yesterday, a day after a government advisor said steps were being taken to boost growth and...

Gas row in Australia 27 Jul 2013 - 01:14 am

Ships wait to be loaded at the Rio Tinto alumina refinery in Gove, also known as Nhulunbuy, located 650km east of Darwin in...

Banks shiver as UBS fined $885m 27 Jul 2013 - 01:13 am

WASHINGTON/LONDON: UBS will pay $885 million in a settlement with a US regulator over allegations the Swiss bank misrepresented mortgage-backed bonds during the...

Insurers Allianz and QBE most exposed to Spain train crash 27 Jul 2013 - 01:13 am

MADRID/LONDON: Germany’s Allianz and Australian group QBE bear the bulk of the insurance liability from this week’s fatal train crash in northwest Spain,...

India’s Wipro shows signs of revival with boost in profit 27 Jul 2013 - 01:10 am

MUMBAI: India’s third-largest software firm Wipro said yesterday quarterly net profit jumped 11 percent on the back of a rise in outsourcing orders...

Dollar slips in Asian trade 27 Jul 2013 - 01:09 am

TOKYO: The dollar slipped in Asia yesterday as poor US data weighed, while the euro was mixed after an upbeat German business climate...

Asian shares mixed, strong yen sinks Tokyo 27 Jul 2013 - 01:09 am

HONG KONG: Asian markets were mixed yesterday, with Tokyo tumbling as the dollar fell to a two-week low against the yen after suffering...

Obama may not name Fed chair soon: Official 27 Jul 2013 - 01:09 am

WASHINGTON: The White House moved yesterday to damp down speculation about President Barack Obama’s choice to lead the Federal Reserve when current Chairman...

Qatar keen to welcome Palestinian investments 26 Jul 2013 - 02:21 am

Nasser Al Meer (middle), Board Member of Qatar Chamber, with other participants at the seminar. BY MOHAMMAD SHOEB DOHA: Small investments can make...