Business

Oil prices rise as dealers eye weaker greenback 08 Mar 2013 - 04:28 am

LONDON: Oil prices rose in New York yesterday as dealers eyed the weaker dollar and upbeat US data, but Brent slipped on the...

Petronas’ profits dip 08 Mar 2013 - 04:23 am

A general view shows a Petronas petrol station in Putrajaya. Petroliam Nasional Bhd (Petronas), Malaysia’s state oil firm, will focus this year on...

Obama expands search for allies to pass budget 08 Mar 2013 - 04:21 am

WASHINGTON: US President Barack Obama expanded his fledgling search for Republican allies on a possible deficit-reduction bargain when he hosted lunch yesterday for...

Global bank group warns over too much liquidity 08 Mar 2013 - 04:21 am

WASHINGTON: An influential group of leading world banks warned yesterday that central banks are pumping out too much easy money and markets risk...

UK coal mine to close after fire 08 Mar 2013 - 04:20 am

London: Britain’s largest coal mine will close permanently with the loss of at least 550 jobs due to a fire that has burned...

Shale gas threat to oil prices 07 Mar 2013 - 06:53 am

A natural gas well is drilled near Canton, in Bradford County, Pennsylvania. The US shale energy revolution is a “big issue”, UAE’s Oil...

Sub debt of five banks under Moody’s scanner 07 Mar 2013 - 06:51 am

By Satish Kanady DOHA: Moody’s Investors Service has put at least five banks in Qatar under scanner along with seven others in the...

Experts see no change in Venezuela’s oil policy 07 Mar 2013 - 06:50 am

A Venezuelan oil and gas platform in the Atlantic Ocean. LONDON: Venezuela’s vast nationalised oil sector needs to open up to foreign investors...

Iran, Turkmenistan agree to gas barter deal 07 Mar 2013 - 06:50 am

DUBAI: Iran will barter goods in return for some gas imports from Turkmenistan, an Iranian trade official was quoted as saying yesterday, a...

Two Abu Dhabi banks repay $1.5bn in government funds 07 Mar 2013 - 06:49 am

ABU DHABI: Two Abu Dhabi banks yesterday repaid Dh5.5bn ($1.49bn) in UAE government support they received in the wake of the global financial...

Kia to hold UAE road shows 07 Mar 2013 - 06:49 am

DOHA/DUBAI: Sales of Kia Motors in the UAE have witness a remarkable 22 percent growth in 2012 as compared to 2011, and the...

DHL Express introduces more flights to Qatar 07 Mar 2013 - 06:48 am

Doha: DHL Express has announced a new route to its regional air network operation to meet the growing demand for express services connecting...

European Union slaps $731m fine on Microsoft for broken promise 07 Mar 2013 - 06:47 am

BRUSSELS: The European Union fined Microsoft Corp ¤561m ($731m) yesterday for failing to offer users a choice of web browser, an unprecedented sanction...

Jordan gets $70m World Bank loan 07 Mar 2013 - 06:47 am

AMMAN: The World Bank has granted Jordan $70m in financing to help it to extend small loans to young people in depressed rural...

Emirates airline hires six banks for second bond sale 07 Mar 2013 - 06:47 am

DUBAI: Emirates airline, Dubai’s flagship carrier, has hired six banks to arrange a potential dollar-denominated, benchmark sukuk sale, lead arrangers said yesterday, in...

Fujairah storage gives edge to Saudi oil trading 07 Mar 2013 - 06:46 am

DUBAI: Saudi Arabia has sharpened its edge in oil trading by leasing oil storage in Fujairah, allowing the producer’s new trading arm greater...

ExxonMobil to boost capital spending 07 Mar 2013 - 06:45 am

NEW YORK: US oil giant ExxonMobil yesterday outlined a massive capital spending program that it projected would lead to annual output increases of...

European stocks hit highest since 2008 crisis 07 Mar 2013 - 06:44 am

Traders work on the floor of the New York Stock Exchange yesterday. LONDON: European stock markets rose to their highest since the 2008...