Business

IIF event concludes 24 Feb 2013 - 02:33 am

From left: The Minister of Economy and Finance H E Yousuf Hussein Kamal, National Bank of Kuwait Chief Executive Officer Ibrahim Dabdoub and...

Moody’s strips Britain of triple-A rating 24 Feb 2013 - 02:33 am

LONDON/NEW YORK: Britain suffered its first ever sovereign ratings downgrade from a major agency on Friday when Moody’s stripped the country of its...

IQ ensures extra 10pc shares 24 Feb 2013 - 02:32 am

DOHA: Industries Qatar (IQ) has confirmed that the QR550m equity restructuring proposed by the Board of Directors will result in the company’s shareholders...

Doha to host 7th GCC Regulators’ Summit on Monday 24 Feb 2013 - 02:31 am

Doha: The Seventh GCC Regulators’ Summit is set to be held in Doha on February 25-26 at the St. Regis Hotel here. The...

British firm drills for Ethiopia’s first oil 24 Feb 2013 - 02:25 am

LONDON: Tullow Oil, the British explorer that found Kenya’s first crude a year ago, is about to find out whether the resources extend...

Income tax exemption a boost to soon-to-be launched ETF on QE 24 Feb 2013 - 02:24 am

DOHA: The Cabinet decision to approve a draft law that exempting non-Qatari investors from the income tax would be a fillip to the...

US forecasts rise in petrol prices 24 Feb 2013 - 02:24 am

WASHINGTON: US drivers should expect to see a “modest further increase” in petrol prices at the pump as refinery outages cut supply and...

GCC inflation at moderate 3pc in 2012 24 Feb 2013 - 02:23 am

Doha: The GCC region witnessed a moderate 3 percent inflation in consumer prices during 2012, down from 3.7 percent in 2011, according to...

Vietnam to boost reforms in banks and state firms 24 Feb 2013 - 02:23 am

A woman works on the assembly line of a shoe factory in Tan Lap village, outside Hanoi. HANOI: Vietnam has approved a broad...

KPMG named best Islamic finance adviser by Euromoney 24 Feb 2013 - 02:20 am

DOHA: KPMG has been named ‘Best Islamic Assurance and Advisory Services Provider’ in the 2012 Euromoney Islamic finance awards. This marks the sixth...

Kingdom Holding to pay $146.75m in dividends this year 24 Feb 2013 - 02:20 am

KHOBAR: Kingdom Holding Co, the international investment firm of Saudi billionaire Prince Alwaleed bin Talal, will pay dividends worth SR550.3m ($146.75m) this year,...

Italian companies innovate to fight recession 24 Feb 2013 - 02:09 am

MILAN: Bioplastics group Mossi & Ghisolfi has hired 50 people a year for the last five years — not bad when Italy’s unemployment...

Commodity prices drop on economic strains 24 Feb 2013 - 02:09 am

LONDON: Oil and metals prices retreated this week on worries for the global economy owing to signs that the United States could end...

HK doubles stamp duty on properties 24 Feb 2013 - 02:07 am

An aerial view of highways and high-rise buildings in Hong Kong. HONG KONG: Hong Kong doubled the sales tax on properties costing more...

No further austerity steps this year: Hollande 24 Feb 2013 - 02:06 am

PARIS: France will not introduce any further austerity measures this year but instead focus on spending cuts in 2014 to bring its deficit...

Sharp to suspend tie-up talks with Hon Hai: Report 24 Feb 2013 - 02:06 am

TOKYO: Struggling Japanese electronics maker Sharp plans to suspend tie-up negotiations with Taiwan’s Hon Hai and search for new capital partners, local media...

AIG posts $4bn loss 23 Feb 2013 - 03:35 am

People walking past the AIG headquarters in New York’s financial district. The company reported a $4bn loss mainly due to the sale of...

UK’s ‘Big Four’ accountants under fire 23 Feb 2013 - 03:35 am

LONDON: Companies in Britain could be forced to switch accountants to break up the cosy relationships between the “Big Four” and their clients,...