Business

Dubai Group settles lawsuit with banks 12 Jan 2013 - 12:45 am

DUBAI: Dubai Group, a struggling unit of the ruler of Dubai’s personal investment firm, has settled with banks who brought legal action against...

Serbia expects investments from UAE 12 Jan 2013 - 12:45 am

BELGRADE: Serbia expects the United Arab Emirates to sign investment deals worth hundreds of millions of euros, making the UAE one of its...

EU Parliament chief criticises IMF demands 12 Jan 2013 - 12:44 am

LISBON: European Parliament President Martin Schulz criticised the IMF yesterday for demanding more austerity in Portugal while acknowledging that too much budget rigour...

Infosys shares soar on outlook 12 Jan 2013 - 12:43 am

BANGALORE: Indian IT outsourcer Infosys yeterday reported a stronger-than-expected quarterly profit and gave an improved outlook for annual revenues, sending its shares soaring....

Indian minister says Areva nuclear deal is close: Report 12 Jan 2013 - 12:41 am

French President Francois Hollande (loeft) welcomes Indian Foreign Minister Salman Khurshid at the Elysee presidential palace in Paris yesterday. PARIS: India and French...

Japan unveils $226.5bn stimulus 12 Jan 2013 - 12:41 am

TOKYO: Japan’s new government unveiled a $226.5bn stimulus plan yesterday in the latest bid to boost the world’s number three economy, with plans...

Honda to cut 800 jobs in UK 12 Jan 2013 - 12:40 am

LONDON: Japanese carmaker Honda plans to cut around 800 jobs at its plant near Swindon in southwest England due to falling demand for...

Italy debt offering sends three-year yields below 2pc 12 Jan 2013 - 12:40 am

MILAN: Return-hungry investors snapped up Italian bonds at an auction yesterday, pushing yields on three-year paper below two percent for the first time...

Tullow drilling in spotlight after mixed 2012 data 12 Jan 2013 - 12:38 am

LONDON: Tullow Oil Plc has a record 49 wells planned this year, and drilling engineers due to deliver news by February are under...

Dubai’s Gold Souq 11 Jan 2013 - 05:55 am

Employees arrange jewellery at a shop at the Gold Souq in Dubai, yesterday. Gold rose over 1 percent to over $1,675 an ounce...

Qatar Foundation to buy major stake in Ahli Bank 11 Jan 2013 - 05:55 am

DOHA: Ahli United Bank, Bahrain’s largest listed lender, has agreed to sell its influential stake in Qatar’s Ahli Bank (ABQ) to Qatar Foundation...

Iraq says can sue over illegal oil exports 11 Jan 2013 - 05:53 am

BAGHDAD: Iraq has the right to take legal action against oil companies exporting crude without dealing with the central government, including confiscating cargoes...

Saudi cuts oil production as demand eases 11 Jan 2013 - 05:53 am

DUBAI: Saudi Arabia has cut oil production substantially, moving to fend off a growing overhang in world oil supply and defend prices well...

QJet supplies QA with ultra-clean GTL jet fuel 11 Jan 2013 - 05:52 am

DOHA: As part of its effort to meet the world’s growing demand for cleaner energy, Qatar Jet Fuel Company (QJet) yesterday announced of...

Nabucco pipeline boosts prospects with Azeri deal 11 Jan 2013 - 05:52 am

SOFIA/LONDON: Azerbaijan’s Shah Deniz gas group has agreed a deal that could see it take a stake in the Nabucco pipeline to transport...

Lebanon, Cyprus to boost energy extraction efforts 11 Jan 2013 - 05:52 am

BEIRUT: Lebanese president Michel Sleiman yesterday said that Lebanon and Cyprus will boost their efforts in oil and gas extraction after he held...

Sony to sell Tokyo building 11 Jan 2013 - 05:51 am

TOKYO: Japan’s Sony plans to sell one of its main buildings in Tokyo as the former electronics titan tries to raise enough cash...

Bullish sentiments across Gulf bourses 11 Jan 2013 - 05:50 am

DUBAI: Bullish sentiment towards UAE equities propelled Dubai’s bourse to a two-year closing high yesterday, driven by bets on stronger dividends and 2012...