Business

Turkey and China finalise $2.4bn thermal power plant contract 12 May 2013 - 02:34 am

Istanbul: Turkey and China have finalised a contract worth $2.4bn to build a coal-based thermal power plant in northwestern Turkey. The deal was...

G7 to press on with bank reforms 12 May 2013 - 02:33 am

British Finance Minister George Osborne at a press conference following the G7 finance ministers and central bank governors meeting in Aylesbury, Buckinghamshire, yesterday....

Alibaba to pay $294m for stake in digital map firm 12 May 2013 - 02:32 am

HANGZHOU, China: Chinese online retail giant Alibaba said it would pay $294m for a 28 percent stake in China’s leading digital map provider,...

Italy’s Enel agrees early retirement for 3,500 workers 12 May 2013 - 02:32 am

ROME: Italian power company Enel has reached a deal on early retirement for almost 10 percent of its domestic workforce, the largest agreement...

FAA says it can keep small airports open 12 May 2013 - 02:31 am

WASHINGTON: The US Federal Aviation Administration (FAA) has said it would be able to keep in service 149 small airport control towers and...

Hyundai woos China with mega ships 12 May 2013 - 02:30 am

Ships under construction in December at the dry dock at the Hyundai Heavy Industries Co. shipyard in Ulsan, South Korea. Rising demand for...

Boeing makes 787s faster; could boost Q4 deliveries 12 May 2013 - 02:29 am

NEW YORK: Boeing Co said it has succeeded in getting its factories to churn out 787 Dreamliners at a faster pace this week,...

US decision on Keystone XL pipeline may drag past summer 12 May 2013 - 02:29 am

WASHINGTON: The Obama administration is unlikely to make a decision on the Canada-to-Nebraska Keystone XL pipeline until late this year as it painstakingly...

Seychelles to see more Asian tourists this year 12 May 2013 - 02:29 am

DUBAI: The number of tourists visiting the Seychelles rose a better than expected 15 percent in the first four months of 2013, the...

Nissan’s profit growth stalls 11 May 2013 - 04:29 am

Visitors looking at a Nissan Cube vehicle at the company’s showroom in Yokohama, south of Tokyo, yesterday. TOKYO: Japan’s Nissan said yesterday that...

Opec sees oil demand rising in second half 11 May 2013 - 04:28 am

LONDON: Opec will need to pump slightly more oil than it thought in 2013 and expects global consumption to be much higher in...

Oil loses ground on high supply, strong dollar 11 May 2013 - 04:28 am

NEW YORK/LONDON: Crude futures on both sides of the Atlantic lost ground yesterday as rising fuel supplies and a stronger dollar put oil...

G7 focuses on growth, austerity 11 May 2013 - 04:28 am

AYLESBURY, United Kingdom: The Group of Seven top economies kick-started fresh talks on spurring growth yesterday amid US-Europe divisions over the scale of...

German trade surplus falls as EU crisis bites 11 May 2013 - 04:27 am

BERLIN: German exports, the driving force of Europe’s top economy, are being weighed down by the eurozone debt crisis, data showed yesterday, amid...

Iberia wipes out progress at British Airways 11 May 2013 - 04:27 am

LONDON: International Airlines Group reported wider first-quarter operating losses yesterday, as deepening trouble at its Spanish carrier Iberia wiped out progress at British...

India industrial output rises 2.5pc 11 May 2013 - 04:22 am

Workers lift a container filled with molten iron inside an iron casting unit at an industrial estate on the outskirts of the western...

Aircraft maintenance woes 11 May 2013 - 04:21 am

Staff from Taikoo (Xiamen) Aircraft Engineering Co (TAECO) cycle out of their company after work in Xiamen, south China’s Fujian province yesterday. A...

Britain’s Co-op Bank rules out state help after capital warning 11 May 2013 - 04:20 am

LONDON: The Co-operative Bank ruled out government support yesterday, after a warning from ratings agency Moody’s that it might need taxpayers’ money to...