Business

Wal-Mart sales disappoint as US shoppers curb spending 16 Aug 2013 - 04:13 am

Washington: Wal-Mart Stores Inc reported a surprise decline in quarterly same-store sales in the United States, its biggest market, after shoppers came in...

Germany poised to overtake US as world’s No.2 exporter: Report 16 Aug 2013 - 04:13 am

BERLIN: Germany could overtake the United States to become the world’s second-biggest exporter this year, but its share of global trade is likely...

Airlines vow to fight US move to block merger 16 Aug 2013 - 04:12 am

WASHINGTON: Lawyers for US Airways and American Airlines voiced confidence on Wednesday that they can defeat the US suit to prevent their merger,...

German utility cuts generating capacity 15 Aug 2013 - 01:13 am

The construction site of the coal power plant of RWE Power is pictured in Hamm. Germany’s No. 2 utility RWE followed peers by...

Egypt bourse falls sharply; QE rallies 15 Aug 2013 - 01:13 am

DUBAI: Egypt’s stock market fell sharply yesterday as security forces in Cairo moved to disperse demonstrators supporting deposed President Mohammed Mursi, sparking violent...

Syria central bank lifts dollar sale restrictions 15 Aug 2013 - 01:13 am

DAMASCUS: The central bank in Syria has lifted restrictions on the sale of dollars to individuals, state news agency SANA said yesterday, in...

Global economic outlook dims while US recovery continues 15 Aug 2013 - 12:34 am

DOHA/PARIS: The world economy has weakened slightly this quarter, mainly due to declining optimism in Asia and Latin America, while North America shows...

Fitch affirms Nakilat’s bonds at A+/A- 15 Aug 2013 - 12:34 am

DOHA: Fitch Ratings has affirmed Qatar Gas Transport Company’s (Nakilat) bonds at ‘A+’/’A-’ with stable outlook. The rating affirmations reflect the project’s stable...

Fonterra executive resigns after milk scare 15 Aug 2013 - 12:17 am

A Fonterra milk tanker drives past fields near Hamilton, New Zealand. WELLINGTON: A top executive at dairy giant Fonterra resigned yesterday following a...

Australia’s Commonwealth Bank posts record profit 15 Aug 2013 - 12:15 am

Office employees walk past the Commonwealth Bank building in the central business district of Sydney yesterday. SYDNEY: The Commonwealth Bank yesterday posted the...

Germany, France pull eurozone out of recession 15 Aug 2013 - 12:14 am

A van carrier transports a container at the ‘Burchardkai’ terminal of the Hamburger Hafen und Logistik AG in the harbour of Hamburg. The...

India slaps controls to boost rupee 15 Aug 2013 - 12:13 am

A cashier counts Indian rupee notes inside a bank in Mumbai. NEW DELHI: India slapped new controls yesterday on foreign exchange outflows as...

Dollar comes under pressure in Asian trading 15 Aug 2013 - 12:03 am

TOKYO: The dollar was under pressure yesterday after a weaker-than-expected US retail sales report, while euro trading focused on fresh eurozone economic growth...

Finnair posts second quarter profit 15 Aug 2013 - 12:01 am

HELSINKI: Finnish airline Finnair yesterday said it returned to profit in the second quarter owing to a major asset sale, but cut its...

$6.2bn loss: US indicts two JPMorgan traders 15 Aug 2013 - 12:01 am

NEW YORK: The US yesterday charged a pair of former JPMorgan Chase traders with fraud in connection with the 2012 $6.2bn “London whale”...

BoE dissent, robust jobs data fuel UK’s interest rate doubts 15 Aug 2013 - 12:01 am

LONDON: Robust jobs data and unexpected dissent from a Bank of England (BoE) policymaker created fresh doubts yesterday about how long the central...

Swiss insurance giant surprises with strong first half profits 15 Aug 2013 - 12:00 am

ZURICH: Insurance giant Swiss Life yesterday posted a near 30-percent rise in first-half net profits, attributing the boost to a solid performance in...

Glencore Xstrata posts jump in H1 copper output 15 Aug 2013 - 12:00 am

ZURICH: Switzerland-based mining giant Glencore Xstrata said yesterday its copper production in the first half (H1) of the year jumped by 20 percent,...