Business / World Business

Back on track? Nigeria’s oil refineries resume production 21 Sep 2015 - 01:14 am

Workers rehabilitate the new Port Harcourt refinery built in 1989 at the same site where the first refinery in Nigeria was built in...

Volkswagen could face $18bn penalties 20 Sep 2015 - 09:48 am

A Volkswagen Passat is offered for sale at a dealership in Chicago, Illinois. WASHINGTON/DETROIT: Volkswagen AG faces penalties up to $18bn after being...

France to push on with reforms after Moody’s downgrade 20 Sep 2015 - 09:41 am

French Economy Minister Emmanuel Macron addressing a meet in Paris on Friday. Paris: France’s finance minister reaffirmed the country’s commitment to economic reforms...

iOS 9 update glitch hits some devices 20 Sep 2015 - 09:39 am

Customers look at an Apple iPhone 6 at an Apple reseller shop in Bangkok, Thailand, on Friday. SAN FRANCISCO/SYDNEY: A significant number of...

Dividend payers get a break from US Fed decision 20 Sep 2015 - 09:37 am

Traders work on the floor of the NYSE on Friday in New York City. NEW YORK: The Federal Reserve’s decision not to hike...

China firms in high-speed rail link deal in US 19 Sep 2015 - 12:30 am

BEIJING: A unit of China’s CRRC Corp, the world’s biggest train maker by revenue, joined a group of its domestic peers in agreeing...

Steelmaker SSI halts UK production; 2,000 jobs at risk 19 Sep 2015 - 12:24 am

A steel slab is cooled with water on the roller table at the SSI steel plant at Redcar, northern England May 29, 2012....

Lufthansa doesn't rule out cooperation with EasyJet 19 Sep 2015 - 12:00 am

FRANKFURT: The head of German airline Lufthansa does not rule out possible cooperation between its low-cost arm Eurowings and British rival EasyJet, the...

Gold shines on US rate decision 19 Sep 2015 - 12:00 am

LONDON: The US Federal Reserve's decision to leave its main interest rate at close to zero percent has hit the dollar, boosting the...

Mercedes-Benz to invest $1.3 bn to expand US production 19 Sep 2015 - 12:00 am

WASHINGTON: German luxury automaker Mercedes-Benz said Friday it would invest $1.3 billion to expand and upgrade SUV production at its Alabama plant. Mercedes-Benz,...

GM to pay $900m criminal penalty for deadly ignitions 18 Sep 2015 - 10:28 am

A file picture of a recalled Chevy Cobalt ignition switch at Raymond Chevrolet in Antioch, Illinois. New York: General Motors will pay $900m...

Fed holds rate at zero, cites China worries 18 Sep 2015 - 10:25 am

Federal Reserve Board Chairwoman Janet Yellen answers questions at a news conference following a Federal Open Market Committee Washington: The Federal Reserve held...

Carmakers race to catch up as Toyota shows off new Prius 17 Sep 2015 - 12:36 am

Visitors look at a Toyota Prius hybrid car at the International Motor Show IAA in Frankfurt am Main yesterday. Frankfurt: Facing tougher emission...

Carmakers curb China output 16 Sep 2015 - 12:00 am

BMW CEO Harald Krueger collapses at a presentation during the media day at the Frankfurt Motor Show (IAA) in Frankfurt, Germany, yesterday. Krueger...

Lulu to open first hypermarket in Indonesia by year-end 15 Sep 2015 - 10:57 am

Abu Dhabi: The Lulu Group will mark its first retail push in Indonesia by opening its first Hypermarket in Jakarta by this year...

Airbus to open first US jet production plant 15 Sep 2015 - 10:49 am

Mobile, United States: European jetmaker Airbus is taking its fight for a bigger market share to rival Boeing’s backyard yesterday, as it inaugurates...

Air bag makers eye boost from new Indian rules 14 Sep 2015 - 12:00 am

NEW DELHI: The world’s largest air bag suppliers are setting up plants and ramping up capacity in India, eyeing a $2bn opportunity thanks...

EU weighs transaction tax 13 Sep 2015 - 01:28 am

European Commissioner in charge of Economic and Financial Affairs Pierre Moscovici (left) and President of Eurogroup and Dutch Finance Minister Jeroen Dijsselbloem at...