Business

Indian rupee plunges to new low 28 Aug 2013 - 12:36 am

MUMBAI/NEW DELHI: India’s rupee hit a record low and posted its biggest percentage fall in 18 years yesterday as parliament’s approval of a...

Brent, US crude gain $3 on Syria tension 28 Aug 2013 - 12:35 am

NEW YORK: Brent crude jumped to a six-month high near $114 a barrel yesterday amid reports that Western powers were readying a military...

German business sentiments up 28 Aug 2013 - 12:28 am

A container ship makes its way to the loading terminals in the harbour of Hamburg, yesterday. A pick-up in manufacturing drove German business...

Libyan oil strikers have federalist agenda: Minister 28 Aug 2013 - 12:25 am

TRIPOLI: Striking workers who have cut Libyan oil output by over half want more power for the country’s eastern region, Oil Minister Abdelbari...

Iraq sweetens terms for new oil projects 28 Aug 2013 - 12:25 am

BAGHDAD/LONDON: Iraq has offered investors more lucrative terms to tap a large oilfield and build a refinery, while blaming Royal Dutch Shell for...

44.7 percent rise in Qatar real estate transactions 28 Aug 2013 - 12:25 am

DOHA: Witnessing a remarkable recovery, the real estate transactions during the week extended from July 14 to 18 reached to QR1.75bn ($480m) up...

Spain says 2012 recession deeper than first announced 28 Aug 2013 - 12:24 am

MADRID: Spain’s job-wrecking recession was deeper than first announced in 2012, revised figures showed yesterday. The Spanish economy shrank 1.6 percent in 2012...

Minsk automobile industry 28 Aug 2013 - 12:23 am

Employees work at a truck assembly line at the Minsk Automobile Plant (MAZ) in Minsk, Belarus, yesterday

Qatari bourse index loses 127.13 points 28 Aug 2013 - 12:23 am

DOHA: Qatar Exchange (QE) benchmark index retreated 127.13 points or 1.28 percent to close at 9,771.41 points yesterday due to an extended selling...

Oman signs MoU to import gas from Iran 28 Aug 2013 - 12:22 am

DUBAI: Iran signed a memorandum of understanding (MoU) on Monday to export gas to Oman from 2015, in a 25-year deal valued at...

ANA to buy stake in Myanmar airline 28 Aug 2013 - 12:22 am

TOKYO: Japan’s All Nippon Airways (ANA) said yesterday it would acquire a 49 percent stake in a Myanmar airline, the latest foray into...

South African growth quickens to 3pc in Q2 28 Aug 2013 - 12:20 am

PRETORIA: Growth of the South African economy, the biggest in Africa, accelerated sharply to three percent in the second quarter, official data showed...

Aircraft orders fall 27 Aug 2013 - 12:26 am

A Boeing 737-900 sits on the assembly line at the company’s operations in Renton, Washington. The Commerce Department said yesterday durable goods orders...

Saudi British Bank plans sukuk sale 27 Aug 2013 - 12:25 am

DUBAI: Saudi British Bank (SABB), an affiliate of HSBC Holdings, is aiming to sell an Islamic bond by year-end to strengthen its capital...

Egypt pound strengthens after muted protest 27 Aug 2013 - 12:25 am

CAIRO: The Egyptian pound strengthened on the black market yesterday as fears the country might be sliding into a period of sustained violence...

Brent falls but underpinned by Syria, US data 27 Aug 2013 - 12:24 am

LONDON: Brent crude eased towards $110.50 a barrel yesterday but was supported near a five-month high as tensions over a suspected chemical weapons...

Iran boosts iron exports to India, China as oil sales slump 27 Aug 2013 - 12:24 am

NEW DELHI/LONDON: Iran is raising its exports of iron ore and iron products to China and India in an attempt to replace at...

German offshore wind farm opens 27 Aug 2013 - 12:23 am

A view of the windmills of the farm BARD Offshore 1, 100km north-west of the German island of Borkum, yesterday. The first complete...