Business

Iranian rial plummets to all-time low 03 Feb 2013 - 04:14 am

TEHRAN: Iran’s currency plummeted to an all-time low yesterday, registering a more than 21-percent drop in a span of two weeks against the...

KPMG hosts meeting to review strategy 03 Feb 2013 - 04:12 am

Officials pose for a group picture in Doha recently. DOHA: Managing and senior partners from KPMG Middle East and South Asia (MESA) held...

Inflation rate in euro area slows in Jan 03 Feb 2013 - 04:12 am

MADRID: The euro area inflation rate unexpectedly fell in January as high unemployment and austerity measures across the 17-nation currency bloc damped demand....

India oil firm stake sale ‘lapped up’ 03 Feb 2013 - 04:12 am

NEW DELHI: India’s sale of a stake in state-run refiner Oil India was “lapped up”, an official said, raising nearly $600m as the...

Chevron Q4 profit rises to $7.25bn 03 Feb 2013 - 04:11 am

CHICAGO: Chevron Corp., the second-largest US energy company, said that fourth-quarter profit increased 41 percent to a record $7.25bn as it reported stronger...

Telecoms boom leaves rural Africa behind 03 Feb 2013 - 04:11 am

JOHANNESBURG/FREETOWN: While mobile phone usage has exploded across Africa over the last decade, transforming daily life and commerce for millions, it’s a revolution...

New Maserati factory opened in Italy 03 Feb 2013 - 04:08 am

Fiat President John Elkann (right) and Fiat CEO Sergio Marchionne posing next to a Maserati luxury sports car during the opening of a...

Commodities: Oil market hits four-month peaks 03 Feb 2013 - 04:00 am

LONDON: Crude oil prices spiked to four-month peaks this week, energised by the weak dollar, mostly upbeat global economic data and Middle East...

Arab Bank Group net profit rises 15 percent in 2012 03 Feb 2013 - 04:00 am

AMMAN: Jordan’s largest lender, Arab Bank Group, posted a 15 percent rise in 2012 net profit to $352m on higher revenues, with its...

RBS bonuses at risk as UK intervenes on Libor fines 03 Feb 2013 - 03:58 am

LONDON: Royal Bank of Scotland faces the prospect of scrapping all bonuses for its investment bankers this year to free up cash to...

Asian LNG prices rise towards new record 03 Feb 2013 - 03:57 am

LONDON: Asian liquefied natural gas (LNG) prices rose toward record highs this week as fresh production outages in Norway and project delays in...

Revolts hit Mideast tourism 02 Feb 2013 - 03:04 am

An aerial view of Atlantis Hotel and The Palm Jumeirah in Dubai. DUBAI: The revolts that began in Tunisia at the end of...

Manufacturing activity in China expands 02 Feb 2013 - 03:03 am

A girl walks past a model of a watch at a museum in Beijing, yesterday. Manufacturing activity in China expanded in January, two...

US jobless rate rises to 7.9pc amid slow growth 02 Feb 2013 - 03:03 am

WASHINGTON: Unemployment in the United States ticked up in January while jobs growth slowed, but the labour market had a better year in...

Barclays boss gives up 2012 bonus 02 Feb 2013 - 03:03 am

LONDON: Barclays bank Chief Executive Antony Jenkins announced yesterday that he would forego his 2012 bonus after a “very difficult year” at the...

Samsung chief wins $4bn family court case 02 Feb 2013 - 03:02 am

SEOUL: Samsung Electronics Chairman Lee Kun-Hee won a court ruling yesterday against demands from his siblings to hand over billions of dollars in...

Major carmakers extend US sales gains in January 02 Feb 2013 - 03:02 am

CHICAGO: US vehicle sales looked set to extend a lengthy streak of gains in January as General Motors, Ford, Chrysler and Toyota posted...

British camera retailer Jessops sold after collapse 02 Feb 2013 - 03:02 am

LONDON: Britain’s failed camera retailer Jessops has been purchased by a group that includes entrepreneur Peter Jones, who stars on business-themed television show...