Business

Global investors brace for Fed move, cut North American bonds 01 Dec 2013 - 08:03 am

LONDON: Leading global investors slashed North American bond holdings to a 3 1/2-year low in November as expectations for dwindling US monetary stimulus...

Spain tweaks tax rules to give banks a €30bn boost 01 Dec 2013 - 08:02 am

MADRID: Spain gave its banks a ¤30bn capital boost by allowing them to transform part of their so-called deferred tax assets into state-backed...

BoE governor warns British house-buyers on rates 01 Dec 2013 - 07:59 am

LONDON: Bank of England Governor Mark Carney has warned would-be British homeowners to consider the risks of higher interest rates, amid concerns that...

Saab to restart 9-3 sedan production 01 Dec 2013 - 07:59 am

Trollhattan: The new owners of Swedish car maker Saab, National Electric Vehicle Sweden AB, will restart production of the 9-3 sedan tomorrow at...

Spain tweaks tax rules to give banks a €30bn boost 01 Dec 2013 - 07:58 am

MADRID: Spain gave its banks a ¤30bn capital boost by allowing them to transform part of their so-called deferred tax assets into state-backed...

Moody’s raises Greek credit rating to Caa3 01 Dec 2013 - 07:58 am

ATHENS: Ratings agency Moody’s upgraded Greece’s credit rating, citing improved results in the crisis-hit country’s economic adjustment programme. The agency announced the two-notch...

Missouri governor calls special session for Boeing incentives 01 Dec 2013 - 07:57 am

JEFFERSON CITY, Missouri: Governor Jay Nixon wants state lawmakers back at the Capitol next week in hopes of persuading the Boeing Co to...

Zimbabwe platinum mining 30 Nov 2013 - 05:52 am

Employees walk under a concentrator at Ngezi platinum processing plant near Harare yesterday. Zimbabwe is willing to let foreign-owned platinum mining firms own...

Turkey and Iraqi Kurdistan sign energy deal 30 Nov 2013 - 05:49 am

ANKARA: Turkey and Iraqi Kurdistan signed a multi-billion-dollar energy package this week that will help transform the semi-autonomous region into an oil and...

Shanghai Free Trade Zone 30 Nov 2013 - 05:48 am

A man walks in front of the entrance of the Shanghai Pilot Free Trade Zone at the Pudong international airport in Shanghai yesterday....

Black Friday shopping 30 Nov 2013 - 05:46 am

Shoppers walk with a cart full of purchases from Walmart in Westbury, New York, yesterday. Black Friday, the day following Thanksgiving Day holiday,...

India posts surprise 4.8pc growth 30 Nov 2013 - 05:45 am

NEW DELHI: India posted faster-than-expected quarterly economic growth of 4.8 percent yesterday, boosted by robust farm output, spurring hopes that an end to...

Improved jobs offer modest EU respite 30 Nov 2013 - 05:45 am

BRUSSELS: Improved eurozone jobs and inflation data yesterday are welcome but offer only modest respite as the bloc struggles to get back on...

UK sells off ‘ghost’ London tube station in austerity drive 30 Nov 2013 - 05:45 am

LONDON: The British government has sold off a disused London underground station used as a secret wartime command centre, as part of its...

Alitalia yet to raise enough in emergency cash call 30 Nov 2013 - 05:45 am

MILAN: Loss-making Alitalia has yet to raise all of the ¤300m ($407m) it was seeking in an emergency cash call, piling more pressure...

Rasameel sees strong corporate sukuk market 30 Nov 2013 - 05:44 am

DUBAI: Kuwait-based Rasameel Structured Finance Co expects a flurry of Islamic financing activity in the Gulf next year, in particular from corporations looking...

S&P removes Dutch from triple A; lifts outlook for Spain 30 Nov 2013 - 05:44 am

AMSTERDAM/MADRID: Standard & Poor’s agency cut the Netherlands’ credit rating yesterday, reducing the euro zone club of full triple-A nations to just three,...

Gold set for biggest loss in five months 30 Nov 2013 - 05:43 am

LONDON: Gold rose yesterday as the dollar declined but was still headed for its biggest monthly drop in five months on signs that ...