Business

Govts to target tech giants’ tax avoidance 07 Jul 2013 - 01:12 am

BERLIN/LONDON: Western governments are set to target a range of tax loopholes used by technology giants including Apple, Amazon as part of an...

French economic forum 07 Jul 2013 - 01:09 am

The CEO of French car manufacturer Renault, Carlos Ghosn (left), speaks with former European Central Bank (ECB) president Jean-Claude Trichet during the second...

SoftBank gets US approval for Sprint bid 07 Jul 2013 - 01:08 am

New york: Japan’s SoftBank Corp received the final approval it needed from US regulators for its $21.6bn bid to take control of Sprint...

France to turn Tunisia debt into development projects 07 Jul 2013 - 01:08 am

TUNIS: France’s president proposed taking at least some of Tunisia’s ¤1bn ($1.3bn) in debt to his country and using it for development projects. ...

Iran devalues official rial rate by more than half 07 Jul 2013 - 01:07 am

TEHRAN: Iran’s central bank yesterday drastically devalued the national currency’s fixed subsidised rate against the dollar, as the Islamic republic struggles to shore...

Chile annual inflation speeds up in June to 1.9pc 07 Jul 2013 - 01:07 am

SANTIAGO: Chile’s consumer price index rose 0.6 percent in June, the biggest increase in eight months and slightly above expectations as costs jumped...

Iran devalues official rial rate by more than half 07 Jul 2013 - 01:07 am

TEHRAN: Iran’s central bank yesterday drastically devalued the national currency’s fixed subsidised rate against the dollar, as the Islamic republic struggles to shore...

Brazil may cut import levies to fight currency depreciation 07 Jul 2013 - 01:06 am

Brasilia: Brazil may lower some import duties to help offset the impact of a sharp depreciation of its local currency on inflation, Finance...

Petronas seeks export of Canada LNG 07 Jul 2013 - 01:06 am

Toronto: The Canadian unit of Malaysia’s Petronas said it has asked regulators for a licence to export nearly 20 million tonnes of liquefied...

Weekly Commodity Update: Negative momentum slowing led by WTI crude 07 Jul 2013 - 01:05 am

By Ole Hansen (Head of Commodity Strategy, Saxo Bank) Solid gains have been seen across most commodities during these first few days of...

EU, China near solar panel deal 06 Jul 2013 - 05:03 am

A technician checking solar panels on the roof of a plant of German solar panel manufacturer Conergy in Frankfurt. Conergy filed for insolvency...

Indian rupee hits new low 06 Jul 2013 - 05:02 am

MUMBAI: India’s rupee fell to near its lifetime low yesterday prompting the central bank to intervene in currency markets to drag the ailing...

Brent crude trading above $107 a barrel on US data 06 Jul 2013 - 05:01 am

NEW YORK: Brent crude oil prices were trading above $107 per barrel for the first time in three months yesterday, underpinned by political...

Transatlantic monetary divide to accelerate dollar surge 06 Jul 2013 - 05:00 am

LONDON: US monetary policy is zigging while the rest of the world is zagging, and the world should brace for a protracted dollar...

Lebanon says Israel can tap its gas resources 06 Jul 2013 - 05:00 am

BEIRUT: Lebanon’s energy minister said yesterday that Israel has the technical ability to draw from Lebanese underwater gas fields, and called for an...

US jobs data spooks European markets 06 Jul 2013 - 04:57 am

People walk in front of an electronic board showing the closing figure of the Nikkei 225 Stock Average in Tokyo yesterday. Tokyo stocks...

Egypt’s finances in worse shape than estimated 06 Jul 2013 - 04:56 am

LONDON: Egypt’s crumbling public finances may be in even worse shape than previously estimated. While stock and bond markets have cheered the ouster...

French trade deficit in May deepens 06 Jul 2013 - 04:56 am

PARIS: The French trade deficit, a critical problem for the recession-hit economy, worsened sharply in May, official data showed yesterday. Although the data...