Business

European stocks jump; gold dips 03 Sep 2013 - 01:46 am

LONDON: Upbeat Chinese and eurozone economic data, combined with receding investor concerns over a US intervention in Syria, sent European equities climbing yesterday,...

Syria wheat, sugar tenders fail to attract offers 03 Sep 2013 - 01:46 am

ABU DHABI/BEIRUT: Syria cancelled an urgent tender to buy sugar yesterday, two weeks after cancelling a bid to buy wheat, the latest signs...

GWC, Qafac sign QR6m contract 03 Sep 2013 - 01:15 am

Doha: Gulf Warehousing Company (GWC) and Qatar Fuel Additives Company (Qafac) have signed a contract worth QR6m.Under the contract GWC is to provide...

India’s manufacturing activity hits new low; China rebounds 03 Sep 2013 - 12:44 am

An employee checking thread reels of a carpet weaving machine at a factory in the Bari Brahmana industrial area, about 20km from the...

Indonesia’s trade deficit widens 03 Sep 2013 - 12:42 am

JAKARTA: Indonesia’s trade deficit unexpectedly hit a record high in July, data showed yesterday, adding further pressure on policy makers to shore up...

Qatar bourse index down 0.51 percent 03 Sep 2013 - 12:42 am

Doha: Qatar Exchange was down yesterday by 49.32 points or 0.51 percent to 9,618.26 points from the previous closing of 9,667.58. Among the...

Dubai nears sale of Fontainebleau hotel in Miami 03 Sep 2013 - 12:42 am

DUBAI: Dubai World is close to selling its 50 percent stake in Miami Beach’s landmark Fontainebleau hotel to South Florida developer Turnberry Ltd,...

Yemen inflation rate climbs to 15-month high in May 03 Sep 2013 - 12:41 am

DUBAI: Yemen’s annual inflation climbed to a 15-month high of 14.2 percent in May, mainly due to increases in food, tobacco and qat...

Libya imports fuel to keep the power on 02 Sep 2013 - 10:17 pm

TRIPOLI: Libya is importing diesel and fuel oil to fend off increasing power cuts, as queues of drivers grow at the pumps and...

Turkish energy minister says oil needs to fall by $10 a barrel 02 Sep 2013 - 10:16 pm

ANKARA: Global oil prices have risen to unsustainable levels and need to fall by around $10 a barrel for Turkey’s oil demand to...

Cyprus on track with bailout reforms 02 Sep 2013 - 10:16 pm

BERLIN: Cyprus is successfully carrying out the reforms necessary under its ¤10bn bailout programme and will get the next tranche of financial help...

Flagship UK scheme fails to boost bank lending 02 Sep 2013 - 10:16 pm

LONDON: Britain’s flagship scheme to encourage banks to pump more credit into the economy failed to boost lending in its first year, data...

Saudi princess dishes out $62m for Geneva estate 02 Sep 2013 - 10:14 pm

GENEVA: A Saudi princess has bought a historical Geneva estate that once belonged to a former Swiss president for 57.5m Swiss francs ($62m),...

HSBC to raise charges 01 Sep 2013 - 11:58 pm

Pedestrians walk past an HSBC branch in central London. The bank is to increase its charges for 700,000 small business customers, with many...

Public spending drives Qatari banks’ loan book growth 01 Sep 2013 - 11:56 pm

By Satish Kanady DOHA: Heavy public spending has boosted Qatari banks’ loan book growth to the highest in the GCC. Banks in Qatar...

Islamic finance down, but not out in Egypt 01 Sep 2013 - 11:55 pm

CAIRO/DUBAI: With the fall of the Muslim Brotherhood, Islamic finance has lost strong political support in the most populous Arab nation. But economic...

Etihad sees clearance for Jet deal 01 Sep 2013 - 11:55 pm

DUBAI: Etihad Airways expects a $600m investment in Jet Airways to be cleared by Indian authorities imminently, as it further extended a deadline...

China data shows economy gathering momentum 01 Sep 2013 - 11:54 pm

BEIJING: China’s manufacturing activity strengthened in August to its highest level in 16 months, official figures showed yesterday, the latest data to suggest...