Business

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...

€300m French-Qatari Fund for SMEs announced 24 Jun 2013 - 01:45 am

From left: The Chairman of Qatar Chamber, Sheikh Khalifa bin Jassem Al Thani, the Prime Minister and Foreign Minister H E Sheikh Hamad...

Hong Kong economy brightens 24 Jun 2013 - 01:45 am

A general view of residential and commercial buildings in Hong Kong. Hong Kong’s economy posted 2.8 percent year-on-year growth in the first quarter,...

Taper tantrum conceals growth picture 24 Jun 2013 - 01:44 am

LONDON: Markets dismayed by the Federal Reserve’s stimulus withdrawal timetable might be in no mood for good news, but evidence is mounting that...

Dubai Group sells credit card firm to FGB 24 Jun 2013 - 01:44 am

ABU DHABI: Investment firm Dubai Group has sold its credit card business to Abu Dhabi lender First Gulf Bank (FGB) for $164m, the...

Economy out of intensive care, says Osborne 24 Jun 2013 - 01:43 am

LONDON: Finance minister George Osborne yesterday said the British economy was “out of intensive care” but that government would stick to a path...

Dubai Holding unit hires Citi for Axiom stake sale 24 Jun 2013 - 01:43 am

DUBAI: Dubai Holding, the conglomerate owned by the ruler of Dubai, has hired Citigroup to advise on a potential sale of its remaining...

Pepsi tries yogurt for company health 24 Jun 2013 - 01:43 am

BATAVIA, New York: PepsiCo Inc best known for Pepsi-Cola and Frito-Lay chips — is taking its Muller yogurt brand nationwide expanding its portfolio...

ACWA expects to keep Saudi power project 24 Jun 2013 - 01:42 am

RIYADH/Al KHOBAR: Saudi-based developer ACWA Power expects to retain a commission to build a 1,800 megawatt power plant for Saudi Electricity Co despite...

Airbus flying display 24 Jun 2013 - 01:42 am

Visitors attend a flying display as an Airbus, with an electric green taxiing system, is being taxied during the 50th Paris Air Show...

Virgin Mobile wins Saudi virtual telecom licence 24 Jun 2013 - 01:42 am

DUBAI: Virgin Mobile Middle East & Africa (VMMEA) is one of three companies to win a virtual telecom licence in Saudi Arabia, the...

Germany works to weaken EU car emissions draft 24 Jun 2013 - 01:40 am

BRUSSELS: Germany has put forward a new proposal to weaken EU draft rules on vehicle emission limits for carbon dioxide as it struggles...

Nationwide draws up plan to plug $1.5bn capital hole 24 Jun 2013 - 01:24 am

LONDON: Nationwide, Britain’s biggest customer-owned financial services group, is drawing up plans to raise at least £1bn ($1.5bn) to fill a hole in...

Qatari bourse index slips by 14.63 points 24 Jun 2013 - 01:24 am

Doha: Qatar Exchange continued its losing streak yesterday slipping 14.63 points or 0.16 percent to hit 9,231.56 points from the previous closing of...

Ethiopia economic growth 24 Jun 2013 - 01:24 am

A crane stands at a construction site in a neighbourhood undergoing a facelift in Addis Ababa. The construction boom in the Ethiopian capital...