Business

Alcoa partly shuts production at Maaden 17 Oct 2013 - 06:53 am

Riyadh: Aluminum producer Alcoa Inc said yesterday that its smelter at Maaden, Saudi Arabia, which is in its startup phase, has temporarily stopped...

EU told to levy carbon charge in own airspace 17 Oct 2013 - 06:52 am

BRUSSELS: The European Union should exert its right to impose carbon charges on aviation within its own airspace, the European Commission said yesterday,...

Iraq says China seeking more crude in 2014 17 Oct 2013 - 06:51 am

DAEGU, South Korea: Iraq said China is seeking to increase purchases of its crude by more than two-thirds next year, stepping up the...

Rise in cement demand may create shortage 17 Oct 2013 - 06:51 am

DOHA: With a large number of big ticket projects in the offing and a projected demand supply gap, Qatar could face a serious...

JPMorgan Chase to pay $100m fine 17 Oct 2013 - 06:43 am

WASHINGTON: The London Whale is the gift that keeps giving for regulators. JPMorgan Chase & Co has agreed to pay the latest in...

Canada to sign trade deal with EU 17 Oct 2013 - 06:41 am

OTTAWA: Canada is close to reaching a free trade deal with the European Union, Canadian Prime Minister Stephen Harper said yesterday. “We will...

Europe moves towards banking union 16 Oct 2013 - 02:26 am

from left: EU Commissioner for Economic and Monetary Affairs Olli Rehn, Swedish Finance Minister Anders Borg and ECB Board Member Jorg Asmussen at...

Ireland launches austerity budget 16 Oct 2013 - 02:16 am

DUBLIN: Ireland launched its seventh successive austerity budget yesterday, paving the way for the eurozone nation’s exit from an international bailout programme in...

Sri Lanka cuts lending rates by 50 basis points 16 Oct 2013 - 02:15 am

COLOMBO: Sri Lanka’s central bank yesterday cut benchmark lending rates by 50 basis points, saying the move was aimed at encouraging growth despite...

UK inflation fails to slow, house prices jump 16 Oct 2013 - 02:15 am

LONDON: British inflation was higher than expected in September and house prices posted their biggest rise in almost three years in August, adding...

TCS profit jumps by 34pc in second quarter 16 Oct 2013 - 02:14 am

MUMBAI: India’s biggest IT outsourcing firm, Tata Consultancy Services, yesterday reported a 34 percent jump in quarterly net profit, beating market forecasts, led...

Tim Cook brings in Burberry boss to restore Apple’s shine 16 Oct 2013 - 02:14 am

LONDON: Burberry CEO Angela Ahrendts rebuilt the brand after over-exposure of its trademark pattern alienated wealthy clientele. Her approach: To embrace digital innovation,...

European stocks buoyed by US debt hopes 16 Oct 2013 - 01:15 am

Traders work on the floor of the New York Stock Exchange yesterday. Media reports state that US stocks rose on confidence that a...

Asian growth ‘changing’ energy sector 16 Oct 2013 - 01:14 am

DAEGU: From oil to nuclear power, via gas, coal and renewables, Asia’s economic growth is increasingly steering the forward path of the global...

Air France-KLM undecided over Alitalia cash 16 Oct 2013 - 01:13 am

MILAN/PARIS: A source close to Alitalia’s biggest investor, Air France-KLM, said it was “50-50” whether it would participate in an emergency share issue...

S Korea’s Sept Iran oil imports more than double 16 Oct 2013 - 01:13 am

SEOUL: South Korea’s Iranian crude oil imports more than doubled in September from August, but its intake levels remain close to the target...

Citigroup results hit by bond trading slowdown 16 Oct 2013 - 01:13 am

NEW YORK: Citigroup Inc posted weaker-than-expected third-quarter earnings yesterday as weak bond market trading volume hurt revenue at the No. 3 US bank...

Meed meet to discuss $225bn rail projects 15 Oct 2013 - 01:41 am

DOHA: Opportunities in the Middle East & North Africa (Mena) region’s $225bn rail, metro, tram and bus rapid transit (BRT) capital investment programme...