Business

UAE banks to ask central bank to soften mortgage rules 07 Jan 2013 - 01:02 am

ABU DHABI: Commercial banks in the UAE plan to ask the central bank to delay and soften new rules placing caps on mortgage...

US, China leave feeble Europe in their wake 07 Jan 2013 - 01:02 am

LONDON: The economies of the United States, China and much of the developing world have decoupled from Europe, leaving it to wallow in...

UAE and Qatar markets hit multi-month highs 07 Jan 2013 - 12:19 am

People walk in front of the Egyptian Stock Market in Cairo yesterday. A top International Monetary Fund official will visit Egypt today for...

Turkey-Libya oil talks 07 Jan 2013 - 12:17 am

Libya’s Oil and Gas Minister Abdul Bari Laroussi (centre left) with Turkish Energy and Natural Resources Minister Taner Yildiz (right), in Tripoli yesterday....

Toyota to suspend new plants for three years: Report 07 Jan 2013 - 12:16 am

TOKYO: Toyota Motor has decided to halt the construction of new factories for the next three years in a shift from its previous...

Top regulatory body eases liquidity rules for banks 07 Jan 2013 - 12:13 am

BASEL: The world’s top banking regulatory body yesterday eased the first global liquidity rules scheduled to start applying to banks in 2015 and...

Weekly Commodity Update: Fiscal Fudge provides short term relief for commodities 06 Jan 2013 - 10:23 pm

By Ole Hansen (Head of Commodity Strategy, Saxo Bank) The dreaded US ‘fiscal cliff’ which suppressed prices during December was this first week...

Weekly Money Market Review with IBQ: Hawkish FOMC meeting minutes could be a game changer 06 Jan 2013 - 10:15 pm

The year 2013 started on a positive note with the US house approving a Senate budget bill, which permanently extends the “Bush” tax...

Sales season begins in Rome 06 Jan 2013 - 01:11 am

People walk past a shop advertising its promotions yesterday during the first day of sales in Rome. The post-Christmas sales season will last...

Turkey to hold talks with Qatar on LNG terminal as demand booms 06 Jan 2013 - 01:10 am

Turkish Energy Minister Taner Yildiz said it will also hold talks with Qatar about building a third liquefied natural gas (LNG) terminal with...

Qatar sukuk market is set to expand 06 Jan 2013 - 01:10 am

DOHA: The sukuk issuances in Qatar will expand in the years ahead and there would be more demand from China and South-east Asian...

UAE Energy Minister: Oil prices reflect market fundamentals 06 Jan 2013 - 01:09 am

Abu Dhabi: The UAE Minister of Energy has said that oil prices are reflecting fundamentals of demand and supply and the current prices...

Ankara’s imports of Iran oil hold steady in December 06 Jan 2013 - 01:08 am

LONDON: Turkey’s imports of Iranian crude oil have been holding steady at around 100,000 barrels per day (bpd) from September to December, data...

Saudi earned SR62bn from pilgrims in 2012 06 Jan 2013 - 01:08 am

Riyadh: Economists in Saudi Arabia have estimated the kingdom’s revenues from Haj and Umrah services in 2012 at more than SR62bn ($16.5bn), 10...

IMF chief urges Malawi to diversify economy, rely less on agriculture 06 Jan 2013 - 01:07 am

International Monetary Fund chief Christine Lagarde walks away after buying small packets of sugar from a woman at a makeshift shop at Kasengere...

Hollande says France will not buy troubled Swiss refinery 06 Jan 2013 - 01:06 am

VAL-DE-REUIL, France: France will not take over insolvent Swiss refiner Petroplus’ oil refinery in Normandy, but could help the plant financially once a...

Singapore Airlines asks pilots to volunteer for unpaid leave 06 Jan 2013 - 01:05 am

SINGAPORE: Singapore Airlines has asked its captains to volunteer for unpaid leave amid a global economic slowdown that has dented long-haul travel demand,...

Don’t play games with debt ceiling: Obama 06 Jan 2013 - 01:05 am

WASHINGTON: US President Barack Obama warned Congressional Republicans yesterday against playing a “dangerous game” with the economy as lawmakers prepared for a new...