Business

Oman banking on higher oil price this year 03 Jan 2013 - 01:24 am

MUSCAT: Oman is banking on oil prices staying high this year to fund heavy spending on job creation and social welfare, according to...

Damac Properties launches Audi promotion at DSF 03 Jan 2013 - 01:23 am

Dubai: Damac Properties, the largest luxury private developer in the Middle East, is giving away luxury Audi’s with properties bought during the Dubai...

Singapore economy grows 03 Jan 2013 - 01:22 am

A shop displays wholesale fixed prices for its sale items in Singapore yesterday. Singapore’s economy grew in the fourth quarter, avoiding a technical...

Emirates begins flights from Dubai superjumbo concourse 03 Jan 2013 - 01:21 am

DUBAI: Emirates Airlines began operations yesterday from the world’s first concourse dedicated to Airbus’ A380 super jumbos at Dubai’s rapidly expanding airport. Concourse...

Rosneft leads Russian oil output to new high 03 Jan 2013 - 01:20 am

MOSCOW: More crude from state-owned top producer Rosneft kept Russian oil output the highest in the world last year, ahead of Saudi Arabia,...

Qatari bourse index rises by 1.08 percent 03 Jan 2013 - 01:20 am

Doha: Qatar Exchange index pursued its upswing trend yesterday, adding 90.32 points (or 1.08 percent) to advance to 8,449.26 points. Among the top...

Avis locks up Zipcar in $500m deal 03 Jan 2013 - 01:19 am

NEW YORK: US car rental giant Avis announced plans yesterday to buy the popular auto-sharing service Zipcar in a deal valued at $500m....

ArcelorMittal to sell $1.1bn stake in Canadian unit 03 Jan 2013 - 01:19 am

SEOUL/BRUSSELS: Arcelor-Mittal, the world’s biggest steelmaker, will sell a 15 percent stake in one of its Canadian iron ore operations, raising $1.1bn to...

Apple store robbed in Paris 02 Jan 2013 - 01:04 am

An Apple logo of the Opera Apple Store in Paris, France, yesterday. Reports state that four armed robbers took part in an organised...

Law to regulate public-private partnership soon 02 Jan 2013 - 01:04 am

DOHA: Qatar hopes to soon have a law in place to regulate public-private partnership (PPP) which would allow the private sector to participate...

Qtel to buy further 15pc stake in Tunisiana 02 Jan 2013 - 01:03 am

DOHA: Qatar Telecom (Qtel) has reached agreement with the Tunisian Government to acquire a further 15 percent stake in Tunisiana S A (Tunisiana)...

India’s car makers show mixed sales trend 02 Jan 2013 - 01:01 am

MUMBAI: Some of India’s auto giants reported yesterday a modest increase and some a drop in sales of new cars for the month...

British PM urges bold G8 action on global economy 02 Jan 2013 - 01:01 am

LONDON: British Prime Minister David Cameron called on his fellow G8 leaders yesterday to start work now on agreeing “bold steps” to help...

PetroRabigh refinery halted for 20 days 02 Jan 2013 - 01:01 am

JEDDAH: Saudi Arabia’s PetroRabigh refining and petrochemicals complex will carry out maintenance for 20 days after a power cut on Saturday forced it...

Plan B for business in Beirut to avoid bust 02 Jan 2013 - 12:59 am

A Lebanese man looks at a shop window in ‘Souqs’ shopping district in Beirut. BEIRUT: As civil war rages in neighbouring Syria and...

BRIC dominance fades for a record third year 02 Jan 2013 - 12:56 am

HONG KONG: Stocks in the biggest developing markets are lagging behind global equities for a record third year as faster economic growth proves...

Bailout candidate Cyprus slams eurozone austerity pill 02 Jan 2013 - 12:56 am

NICOSIA: Cyprus President Demetris Christofias hit out on Monday against the harsh austerity measures being meted out against struggling eurozone members as the...

India’s stock market third best performer globally in ’12 02 Jan 2013 - 12:55 am

Mumbai: After a dismal show a year ago, the Indian stock market emerged as the third best performer globally in 2012, with a...