Business

UAE banks’ profit seen rising 20pc 12 Sep 2013 - 01:28 am

DUBAI: Net profit growth at commercial banks in the United Arab Emirates is expected to accelerate to about 20 percent in 2013, while...

Qatar posts QR33.8bn trade balance in July 12 Sep 2013 - 01:28 am

DOHA: Qatar posted a trade balance of QR33.8bn in July 2013, down 2.6 percent year-on-year. However, the trade balance of goods showed a...

Oil rises as market focuses on Syria 12 Sep 2013 - 01:27 am

LONDON: World oil prices rose yesterday, despite news of falling US crude reserves, as the market focus remained on Syria, dealers said. Brent...

Spain investment failure 12 Sep 2013 - 01:26 am

A general view of the port of Barcelona yesterday. “We cannot spend money on airports and empty trains and not invest in the...

Petrochina, Shell’s $13bn refinery stalls 12 Sep 2013 - 01:26 am

BEIJING: Plans for a $13bn refinery and petrochemical complex in east China have stalled over finding a suitable site for the plant, which...

High-level Qatari delegation to take part in Kazan Summit 12 Sep 2013 - 01:19 am

DOHA: A high-level representative delegation from Qatar will participate in the upcoming Kazan Summit 2013 to be held from October 2 to 3...

GCC real estate markets set to grow this month: Ezdan 12 Sep 2013 - 01:19 am

DOHA: The real estate markets of the GCC countries, including Qatar are forecast to witness positive growth in September which will accelerate the...

Abu Dhabi set to invest $5bn in Russia infrastructure 12 Sep 2013 - 01:18 am

MOSCOW: Abu Dhabi plans to invest $5bn in Russian infrastructure in a venture to be set up with the country’s state-backed private equity...

Confusing rules deter foreign supermarkets from India 12 Sep 2013 - 01:18 am

MUMBAI: A year since India reduced foreign investment barriers to its retail sector to spur flagging economic growth, confusing rules and political uncertainty...

Qatari bourse index loses 8.31 points 12 Sep 2013 - 01:16 am

Doha: Qatar Exchange was slightly down yesterday 8.31 points or 0.09 percent to 9,587.95 points from the previous closing of 9,596.26 points. The...

Al Hilal Bank eyes sukuk issue in Q4 12 Sep 2013 - 01:16 am

ABU DHABI: Abu Dhabi government-owned Al Hilal Bank expects net profit growth of over 40 percent this year as it prepares to make...

Europe must save gas plants for energy security: GDF Suez chief 12 Sep 2013 - 01:16 am

PARIS: Europe must save its gas-fired electricity plants by paying for them to remain available for peak demand or face a threat to...

Food price fears push EU to put lid on biofuels growth 12 Sep 2013 - 01:15 am

STRASBOURG: The European Parliament has voted to limit the use of fuels made from food crops because of fears that biofuels can push...

France announces unprecedented cuts in next budget 12 Sep 2013 - 01:15 am

PARIS: France yesterday announced “unprecedented” cuts in its next budget, admitting it will not meet its EU-mandated deficit target this year and that...

Sports Direct extends winning run as heads for FTSE 100 index 12 Sep 2013 - 01:14 am

LONDON: Sports Direct, Britain’s biggest sporting goods retailer, posted a big rise in sales yesterday, as shoppers snapped up its cut-price deals and...

Emerging markets drive up global vehicle sale 12 Sep 2013 - 01:13 am

Audi cars are reflected in a mirror at the booth during the media day of the IAA (Internationale Automobil Ausstellung) international motor show...

World’s most expensive oil field on stream 12 Sep 2013 - 01:13 am

ALMATY/MOSCOW: When the first drops of oil began trickling from the world’s most expensive oil field yesterday, investors in the mammoth Kashagan Caspian...

Glencore Xstrata halts $7bn Australia mine 12 Sep 2013 - 01:12 am

SYDNEY: Newly merged mining giant Glencore Xstrata said yesterday it had put its proposed $7bn Wandoan open-cut energy coal project in Australia on...