Business

Lockheed Martin clinches $4bn Pentagon deal 22 Sep 2013 - 01:02 am

WASHINGTON: The Pentagon said it had finalised a contract worth nearly $4bn with Lockheed Martin Corp to supply additional missile defence equipment to...

Huawei to add 5,500 jobs in Europe 22 Sep 2013 - 01:01 am

BEIJING: Chinese telecommunications equipment maker Huawei plans to create 5,500 jobs in Europe within five years as the company expands its services in...

Sudan currency falls to record low 22 Sep 2013 - 12:43 am

KHARTOUM: Sudan’s currency has fallen to a record low against the dollar on the black market as people rush to change savings into...

Foreign investment in Myanmar surges 21 Sep 2013 - 07:46 am

Workers at the Vietnam Hoang Anh Gia Lai (HAGL) construction site in Yangon yesterday. Myanmar has approved more foreign direct investment in the...

France must cut reliance on oil: Hollande 21 Sep 2013 - 07:46 am

PARIS: France should aim for a 30 percent cut in fossil fuel use by 2030, President Francois Hollande said in a speech yesterday...

Scandals cost JPMorgan Chase $1bn in fines 21 Sep 2013 - 07:46 am

Washington: It’s $1bn in payouts that JPMorgan Chase & Co most likely wants to forget. In agreements with regulators totalling $1bn and made...

Shell restarts Iraq’s Majnoon oil field 21 Sep 2013 - 07:45 am

BASRA: Royal Dutch Shell has restarted production at Iraq’s Majnoon oil field, one of four giant fields core to the country’s plans to...

Oil edges higher, set for big weekly loss as risks ease 21 Sep 2013 - 07:45 am

NEW YORK: Brent crude oil edged higher yesterday but was headed for its second weekly decline, down more than three percent after a...

New RBI chief orders surprise rate increase 21 Sep 2013 - 07:45 am

MUMBAI: India’s new central bank governor surprised markets yesterday with a bold decision to hike interest rates on fears of rising inflation, triggering...

Etihad focused on Jet Airways stake, says CEO 21 Sep 2013 - 07:44 am

PARIS: Abu Dhabi-based Etihad airlines is focused on taking a stake in India’s Jet Airways, its chief executive said yesterday amid media speculation...

India’s Iran oil imports far below levels last year 21 Sep 2013 - 07:44 am

NEW DELHI: India’s imports of Iranian oil shot up in August to more than four times the volume taken in July as one...

Spain trade deficit plunges in July 21 Sep 2013 - 07:43 am

MADRID: Spain’s trade deficit plunged by a further 53.5 percent in July as the recession-hit country rode a boom in exports, officials said...

Foxtons makes $1.2bn stock market debut 21 Sep 2013 - 02:53 am

A woman walks past a branch of Foxtons estate agents in central London yesterday. LONDON: British property agent Foxtons enjoyed a strong stock...

QE market cap rises to QR537bn 20 Sep 2013 - 02:35 am

DOHA: Buying support from local retail and foreign institutional investors eased the selling pressure to lift the Qatar bourse benchmark index by 2.61...

BMW rolls out ethe i3 electric car 19 Sep 2013 - 12:42 am

Employees of BMW celebrate the production launch of ethe i3 electric car in Leipzig, Germany, yesterday. The small car with new carbon vehicle...

Fed decides to continue bond buying 19 Sep 2013 - 12:42 am

WASHINGTON: The Federal Reserve has decided against reducing its stimulus for the US economy, saying it will continue to buy $85bn a month...

Greece’s fragile balance could be overturned, say experts 19 Sep 2013 - 12:41 am

ATHENS: Greece is not out of the woods yet and the fragile balance created as the coalition government tries to implement reforms to...

Boeing’s 787-9 makes first flight 19 Sep 2013 - 12:41 am

SEATTLE: A longer version of Boeing Co’s Dreamliner successfully completed its first flight on Tuesday, passing a key milestone for a plane expected...