Business

Bahrain air show 20 Jan 2014 - 12:18 am

A female security officer looks at an automatic machine gun made by Caracal, a United Arab Emirates weapon manufacturing company, displayed at the...

Platinum mine workers to strike 20 Jan 2014 - 12:17 am

Members of South Africa’s Association of Mineworkers and Construction Union (AMCU) attend a rally in Rustenburg, northwest of Johannesburg, yesterday. AMCU will strike...

Brazilian airlines to add flights 20 Jan 2014 - 12:16 am

Brazilian airline Gol’s Boeing 737 and TAM’s Airbus A320 aircraft parked at Congonhas airport in Sao Paulo. Brazilian aviation regulator ANAC said it...

Boyu Capital raises $1.5bn buyout fund 20 Jan 2014 - 12:16 am

The logo of Boyu Capital at the company’s office in Hong Kong. China-focused private equity firm Boyu Capital has raised $1.5bn for its...

Best Buy sales tumble 20 Jan 2014 - 12:15 am

A Best Buy store in Westminster, Colorado. Best Buy Co shares tumbled about 30 percent after the world’s largest consumer electronics chain reported...

American Express profit rises 20 Jan 2014 - 12:15 am

American Express and American Express corporate cards are pictured in Encinitas, California. The credit card company announced its quarterly profit more than doubled ...

Doha to host IATA AGM from June 1-3 20 Jan 2014 - 12:11 am

DOHA: The International Air Transport Association (IATA) is gearing up to hold its 70th Annual General Meeting (AGM) here from June 1 to...

Empower buys cooling firm for $500m in Dubai asset shuffle 20 Jan 2014 - 12:10 am

DUBAI: Dubai district cooling firm Empower bought Palm Utilities from a unit of Dubai World for $500m yesterday, part of a shuffle of...

Saudi ‘welcomes’ US shale oil boom: Minister 20 Jan 2014 - 12:10 am

RIYADH: Saudi Arabia, an Organisation of Petroleum Exporting Countries kingpin, is unconcerned by the US shale oil boom, Oil Minister Ali bin Ibrahim...

Mideast M&A activities hit $43.4bn in 2013 20 Jan 2014 - 12:09 am

DOHA: Middle Eastern investment banking fees reached $722.2m during 2013. The value of announced M&A transactions with any Middle Eastern involvement reached $43.4bn...

Nakheel records 27.2pc profit growth 20 Jan 2014 - 12:09 am

DUBAI: Dubai’s Nakheel reported a 27.2 percent rise in full-year profit yesterday as the property developer benefitted from the emirate’s resurgent real estate...

Iraq needs Kurdish oil income to avert budget collapse 20 Jan 2014 - 12:09 am

BAGHDAD: Iraq cannot finance its projected 2014 budget deficit unless the northern Kurdistan region pays its oil export revenue into the national treasury...

Almarai posts marginal Q4 net profit gain 20 Jan 2014 - 12:08 am

DUBAI: Saudi Arabia’s Almarai, the Gulf’s biggest dairy company, reported a marginal rise in fourth-quarter net profit yesterday, in line with analyst forecasts,...

Regulators close bank in Illinois 20 Jan 2014 - 12:08 am

WASHINGTON: Regulators have closed a small lender in Illinois, making it the first US bank failure of 2014 following 24 closures last year. ...

GM’s new CEO to get up to $4.4m 20 Jan 2014 - 12:07 am

DETROIT: Mary Barra, General Motors Co’s new Chief Executive Officer and the auto industry’s first female CEO, will be paid up to $4.4m...

QE snaps 13-day bull run, index down by 0.12pc 20 Jan 2014 - 12:07 am

DOHA: Qatar Exchange (QE) snapped a 13-day winning streak yesterday, as its benchmark index retreated, mainly on selling pressures from local retail investors....

Turkey’s economic success falls victim to political turmoil 20 Jan 2014 - 12:06 am

Istanbul: Turkey was once hailed as an economic success story, clambering out of a financial abyss with reforms over the past decade to...

Sager likely to become group chief executive at Kuwait’s NBK 20 Jan 2014 - 12:06 am

DUBAI/KUWAIT: Veteran banker Isam Al Sager is the most likely candidate to become the new group chief executive of National Bank of Kuwait,...