Business

Kuwait Finance House Q1 net profit up 13pc, misses target 20 Apr 2014 - 01:12 am

KUWAIT: Kuwait Finance House (KFH), the country’s biggest Islamic lender, reported a 13 percent rise in first quarter net profit yesterday, missing analyst...

China’s cooling property market a risk to growth 20 Apr 2014 - 01:12 am

BEIJING: China’s property market could threaten Beijing’s plan to manage a slowdown in growth, as evidence mounts of a rapid cooling in what...

Armani settles tax row for €270m 20 Apr 2014 - 01:11 am

ROME: Giorgio Armani settled a tax dispute in Italy by paying €270m, Italian business daily Il Sole 24 Ore reported on Friday. The...

US-focused stock funds post $7.1bn outflow: BofA 20 Apr 2014 - 01:11 am

NEW YORK: Fund investors worldwide pulled $7.1bn out of US-focused stock funds in the week ended Tuesday while putting cash into Japanese and...

No IRS audits for big firms 20 Apr 2014 - 01:11 am

WASHINGTON: Fewer than 1 percent of partnerships with more than $100m in assets, including hedge funds and private equity firms, are audited by...

Amazon’s tax-free European profits drop 20 Apr 2014 - 01:10 am

LONDON: The amount of money Amazon.com Inc reports through a tax-exempt vehicle in Europe has dropped sharply in the past two years, even...

Biomass-fuelled power plant 19 Apr 2014 - 07:04 am

An employee checks energy production at the Pannonpower power plant operated by the Dalkia group in Pecs. The southern Hungarian city of Pecs...

Hollande visits Michelin plant 19 Apr 2014 - 07:03 am

French President Francois Hollande (second left) and French Economy Minister Arnaud Montebourg (right) listen to Michelin Technical Director Alain Delias (left) as they...

Unicom profit rises 19 Apr 2014 - 07:02 am

A view outside the China Unicom office building in Beijing, yesterday. China Unicom (Hong Kong) Ltd, the country’s second-biggest mobile carrier by subscribers,...

PetroChina shale gas spending hiked to $1.6bn 19 Apr 2014 - 07:01 am

BEIJING: Chinese state energy giant PetroChina plans to spend more than 10bn yuan ($1.6bn) on shale gas this year, sources with knowledge of...

Dollar steady in Asia on US jobs data, Ukraine deal 19 Apr 2014 - 07:01 am

TOKYO: The dollar was steady in quiet Asian trade yesterday, winning support from positive US jobs data and a deal between Russia and...

Vimplecom resolves Algeria row with $2.6bn stake sale 19 Apr 2014 - 07:00 am

MOSCOW: Russia’s Vimpelcom has resolved a long-running dispute with the Algerian government by selling it a majority stake in the country’s biggest telecoms...

Gold flat below $1,300, heading for weekly fall 19 Apr 2014 - 07:00 am

LONDON: Gold was heading for a 1.8 percent weekly fall yeserday, dented by hopes that diplomatic efforts can calm violence in Ukraine and...

Russia ships first oil from Arctic platform 19 Apr 2014 - 07:00 am

NOVO-OGARYOVO, Russia: President Vladimir Putin hailed Russia’s first shipment of Arctic offshore oil yesterday, saying the platform decried by environmentalists will help Moscow...

Turkey seeks Russia gas discount 19 Apr 2014 - 06:59 am

ANKARA: Energy-dependent Turkey will ask for a discount on the price of the gas it buys from Russia, its energy minister said yesterday,...

Italian lender backs €5bn share sale 19 Apr 2014 - 06:59 am

ROME: Italian bank Monte dei Paschi di Siena gave the go-ahead on Friday to a ¤5bn equity raising that will boost its capital...

Tokyo investors eye China, US data next week 19 Apr 2014 - 06:59 am

TOKYO: Tokyo investors will be watching the release of a string of data from the United States, China and Japan next week, after...

Reliance Industries posts quarterly profit rise 19 Apr 2014 - 06:58 am

NEW DELHI: Energy giant Reliance Industries Ltd reported a marginal rise in quarterly profit yesterday, with billionaire tycoon Mukesh Ambani saying his company...