Business

Raghuram Rajan to be India central bank governor 07 Aug 2013 - 01:57 am

NEW DELHI: India yesterday named a former International Monetary Fund chief economist as its new central bank governor as it grapples with a...

Israel gas group aims at exports to Turkey, Egypt 07 Aug 2013 - 01:57 am

JERUSALEM: A group of energy companies that discovered large amounts of natural gas off Israel’s Mediterranean coast said they were in talks to...

US trade gap hits three-and-half-year low 07 Aug 2013 - 01:52 am

WASHINGTON: The US trade deficit narrowed sharply in June to its lowest level in more than 3-1/2 years as imports fell and exports...

Belarus potash miner enters into marketing pact with Muntajat 06 Aug 2013 - 01:32 am

A machine positions recently excavated potash ore in the OAO Uralkali mines in Berezniki, Russia. MINSK: Belarussian potash producer Belaruskali aims to tap...

Qatar awards $27.5bn contracts in first half 06 Aug 2013 - 01:15 am

DOHA: Qatar has awarded a total of 35 mega contracts with a combined value of approximately $27.5bn in the first half of 2013....

SolarWorld secures backing of bondholders for overhaul 06 Aug 2013 - 01:15 am

A SolarWorld advertisement in Germany. MUNICH: Germany’s Solar-World has secured backing for a wide-ranging restructuring plan from holders of one of its outstanding...

QIG net profit up 06 Aug 2013 - 01:14 am

Doha: Qatari Investors Group (QIG) net profit for the period ending June 30 was up to QR111.3m, an increase by 73.36 percent, compared...

Abdulla Saleh Al Raisi is new Commercial Bank CEO 06 Aug 2013 - 01:13 am

DOHA: Abdulla Saleh Al Raisi (pictured) has been elevated as the new Chief Executive Officer of Commercial Bank of Qatar, while Andrew Stevens...

Mannai Corp posts record H1 revenue 06 Aug 2013 - 01:11 am

DOHA: Mannai Corporation Group posted a record revenue of QR2.94bn for the first half of 2013. The figure reflects a high 45 percent...

HSBC may face $1.6bn US lawsuit hit 06 Aug 2013 - 01:07 am

A woman walks past a branch of HSBC in central London yesterday. LONDON: HSBC posted lower than expected earnings yesterday and said it...

Over 1m British workers on zero-hours contracts 06 Aug 2013 - 01:06 am

LONDON: More than 1 million British workers could be employed on zero-hours contracts, new figures released yesterday reveal, suggesting that British business is...

Saudi index rises above 8,000; Egypt extends rally 06 Aug 2013 - 01:06 am

DUBAI: Saudi Arabia’s main stock index rose above the 8,000-point level yesterday for the first time in nearly five years, while Egypt hit...

Hyundai Heavy wins $3.3bn power plant order in Saudi 06 Aug 2013 - 01:06 am

SEOUL: South Korea’s Hyundai Heavy Industries (HHI) said yesterday that it had won a $3.3bn order to build a steam power plant in...

At revamped Etisalat, acquisitions regain traction 06 Aug 2013 - 01:05 am

DUBAI: Etisalat has kick-started a stalled acquisition strategy with a potential $10.5bn in deals, including a $5.5bn stake purchase in Morocco, its biggest...

Euromoney names Barclays ‘Best M&A House’ in the Middle East 06 Aug 2013 - 01:04 am

DOHA: In recognition of Barclays’ Mergers and Acquisitions (M&A) services, the London-based multinational banking and financial service provider, has been named as the...

Oil pares early losses 06 Aug 2013 - 01:04 am

NEW YORK: Brent crude oil pared early losses yesterday to trade back toward $109 a barrel as selling pressure eased after a report...

Egypt foreign reserves rise to 20-month high 06 Aug 2013 - 01:04 am

CAIRO: Egypt’s foreign reserves jumped in July to their highest in 20 months, the central bank said yesterday, boosted by $5bn that Gulf...

Iraq invites firms to build new Iraq-Turkey oil pipeline 06 Aug 2013 - 01:03 am

BAGHDAD: Iraq has invited international companies to build part of a new oil export pipeline linking the country’s northern Kirkuk fields to Turkey,...