Business

Pakistan govt plans $5bn debt for power 29 May 2013 - 12:12 am

ISLAMABAD: Pakistan’s new government plans to sell $5bn in treasury bills to pay off a chain of debt choking the country’s power sector...

Darty’s new chief plans job cuts 29 May 2013 - 12:11 am

PARIS: Electronics retailer Darty plans to cut costs in its core French market to cope with the weaker economy, which could entail job...

Ex-RBS Mideast and Africa CEO joins First Gulf Bank 29 May 2013 - 12:10 am

DUBAI: Royal Bank of Scotland’s former chief executive of its Middle East and Africa business is joining Abu Dhabi-based First Gulf Bank (FGB),...

GDF Suez to buy 9pc stake in Nabucco West gas pipeline 28 May 2013 - 11:58 pm

VIENNA: France’s GDF Suez said yesterday that it agreed to buy from Austria’s OMV a nine-percent stake in the planned Nabucco West gas...

Spanish march against unemployment 28 May 2013 - 05:03 am

Demonstrators from the Berri-Otxoak social rights pressure group, dressed as prisoners, cross a road near the Guggenheim Museum during a march against unemployment,...

Opec off radar of risks for crude market 28 May 2013 - 05:01 am

LONDON: Oil traders should not lose too much sleep worrying about what Opec, often unpredictable and quarrelsome in the past, will do when...

Barwa Bank joint lead manager for ABT sukuk 28 May 2013 - 05:01 am

Doha: Barwa Bank has acted as joint lead manager on Albaraka Turk Participation Bank’s (ABT) $200m Tier 2 sukuk. This transaction represents the...

Bank’s support for cycling 28 May 2013 - 04:59 am

The logo of Bank of Moscow is seen on bicycles for rent in central Moscow yesterday. The city authorities in association with the...

Altimo fails to secure majority stake in Orascom Telecom 28 May 2013 - 04:59 am

Cairo: Russia’s Altimo failed to secure a majority stake in Egypt-based Orascom Telecom by a Monday deadline and said it was ready to...

EU duties on Chinese solar panels losing member state support 28 May 2013 - 04:58 am

BRUSSELS: A majority of EU governments oppose a plan to impose hefty duties on solar panel imports from China, a survey of member...

Ireland to rebuff tax haven claims 28 May 2013 - 04:57 am

DUBLIN: Ireland is preparing to officially reject accusations by US Senators this week that it acts as a tax haven for large multinationals...

Top investors seek to buy Club Med for $700m 28 May 2013 - 04:57 am

PARIS: Club Mediterranee’s (CMIP.PA) top shareholders plan to take over the French holiday firm in a bid that values it at around ¤541m...

Turkish bank shares fall on overdraft rate cap 28 May 2013 - 04:57 am

ISTANBUL: Turkish banking shares fell yesterday after the central bank halved the maximum monthly interest rate that banks can charge on overdrafts. The...

Abu Dhabi turning to emerging markets 28 May 2013 - 04:56 am

DUBAI: Abu Dhabi Investment Authority is reducing target exposures to developed market stocks and looking for growth in emerging markets, the sovereign wealth...

Deutsche Telekom eyes acquisition in Poland 28 May 2013 - 04:56 am

FRANKFURT: Deutsche Telekom is considering buying Poland’s GTS Central Europe for ¤600m ($775m) as part of plans to strengthen its position in eastern...

Israel cuts interest rates again 28 May 2013 - 04:55 am

JERUSALEM: The Bank of Israel kept up its battle against shekel appreciation and the prospect of slower export growth with its second interest...

Banking sector pushes Qatari index down 28 May 2013 - 04:55 am

Doha: Qatar Exchange index lost 15 points or 0.17 percent to 9,071.90 points from the previous closing of 9,086.90 points. The volume of...

Valeant buys Bausch & Lomb for $8.7bn 28 May 2013 - 04:54 am

OTTAWA: Canadian pharmaceutical company Valeant announced yesterday a deal to acquire US eye health company Bausch & Lomb for $8.7bn in cash, becoming...