Business

Samsung loses order 01 Jan 2013 - 01:07 am

South Korea’s No 2 shipbuilder Samsung Heavy Industries’ shipbuilding yard in Geoje, about 470km southeast of Seoul. Samsung Heavy Industries said an Asian...

Mursi sees pound stabilising ‘within days’ 01 Jan 2013 - 01:07 am

CAIRO: Egypt’s pound fell to a record low yesterday as the president signalled his government would allow it to depreciate slowly for several...

Singapore likely in recession after GDP data, say analysts 01 Jan 2013 - 01:06 am

SINGAPORE: Singapore likely slipped into recession in the three months to December, analysts said yesterday, as data showed growth in 2012 came in...

UK likely to lose AAA credit rating: Economists 01 Jan 2013 - 01:06 am

London: Britain is expected to lose its gold-plated AAA credit rating this year, dealing a blow to the Chancellor (finance minister) George Osborne’s...

UAE risks slowing property recovery 01 Jan 2013 - 01:06 am

DUBAI: Last September, people lined up for hours in a square outside the headquarters of leading Dubai real estate developer Emaar Properties, waiting...

China manufacturing hits 19-month high 01 Jan 2013 - 01:05 am

BEIJING: China’s manufacturing activity surged to a 19-month high in December, British bank HSBC said yesterday, adding to signs of recovery in the...

Qatar Exchange signs MoU with QFIS 30 Dec 2012 - 11:36 pm

Qatar Exchange CEO Rashid bin Ali Al Mansoori (left) exchanges documents with Dr Hatem Al Qaranshawi at Qatar Exchange yesterday. (Kammutty VP) DOHA:...

Qatar’s GDP grows by 3.9pc 30 Dec 2012 - 11:36 pm

DOHA: Qatar’s gross domestic product (GDP), adjusted for inflation, rose 3.9 percent from a year earlier in third quarter (Q3) 2012. Compared to...

Tabreed to issue convertible bonds in recap plan 30 Dec 2012 - 11:35 pm

DUBAI: District cooling firm Tabreed has agreed to issue Dh1.13bn ($308m) in convertible bonds to Abu Dhabi fund Mubadala on December 31, the...

Qatari bourse index loses 10.85 points 30 Dec 2012 - 11:34 pm

Doha: Qatar Exchange slipped 10.85 points or 0.13 percent yesterday to 8,300.37 points from the previous closing of 8,311.22 points. The volume of...

New currency regime pushes Egypt pound low 30 Dec 2012 - 11:34 pm

CAIRO: The Egyptian pound hit a record low against the dollar yesterday as worried Egyptians shifted their money out of local currency after...

Lindner Depa Interiors rebuts Qatar Airways claim 30 Dec 2012 - 11:34 pm

DOHA: Lindner Depa Interiors (LDI) has rebutted Qatar Airways’ claim that it is responsible for major delays to the opening of the New...

Nakheel awards $136m contract for villa project 30 Dec 2012 - 11:34 pm

DUBAI: Property developer Nakheel yesterday awarded contracts worth $136m to two local construction firms for a luxury villa project stalled after Dubai’s property...

Bolivian nationalisation 30 Dec 2012 - 11:32 pm

Bolivian police officers hold a Bolivian flag on the roof of the headquarters of electricity distribution company Electropaz, a subsidiary of the Spanish...

IMF, EU push for less drastic deficit cuts 30 Dec 2012 - 11:32 pm

PARIS: The International Monetary Fund and European Commission officials have encouraged France and its eurozone partners not to fixate on deficit reduction targets...

Bankia investors look to court for justice 30 Dec 2012 - 11:32 pm

MADRID: Spanish savers and pensioners who have seen their money wiped out by investing in state-rescued lender Bankia are likely to seek redress...

Oil output hike elsewhere may dent 2013 income: Saudi 30 Dec 2012 - 11:32 pm

RIYADH: Production hikes by other oil producers will weigh on energy prices in 2013, potentially cutting into Saudi Arabia’s fiscal surplus, Finance Minister...

Italy upbeat at end of 2012 after year of market tension 30 Dec 2012 - 11:31 pm

ROME: Italy is ending 2012 on an upbeat note, with renewed financial market confidence and optimism among analysts that the worst of the...