Business

Impala sells 51pc of Zimbabwe platinum business 13 Jan 2013 - 11:24 am

HARARE: Impala Platinum, the world’s number two producer of platinum on Friday sealed a deal to sell a 51-percent stake in its Zimbabwean...

Two airlines to suspend Iran flights as sanctions bite 13 Jan 2013 - 11:24 am

LONDON: Two European airlines said yesterday they were halting services to Iran, a sign of the crumbling purchasing power of Iranians as their...

Lumia boosts Nokia growth 12 Jan 2013 - 12:46 am

A customer looks at an advertising for Nokia Lumia smartphone in a shop in Warsaw, yesterday. Nokia said strong sales of Lumia smartphones...

Global stocks near 20-month high 12 Jan 2013 - 12:46 am

NEW YORK: An improving economic outlook held world shares near a 20-month high yesterday, while the euro rose to its highest against the...

UK economy contracting again, ‘triple dip’ recession looms 12 Jan 2013 - 12:45 am

LONDON: The British economy contracted in the final quarter of 2012, a respected independent economic institute said yesterday, raising the possibility the country...

Dubai Group settles lawsuit with banks 12 Jan 2013 - 12:45 am

DUBAI: Dubai Group, a struggling unit of the ruler of Dubai’s personal investment firm, has settled with banks who brought legal action against...

Serbia expects investments from UAE 12 Jan 2013 - 12:45 am

BELGRADE: Serbia expects the United Arab Emirates to sign investment deals worth hundreds of millions of euros, making the UAE one of its...

EU Parliament chief criticises IMF demands 12 Jan 2013 - 12:44 am

LISBON: European Parliament President Martin Schulz criticised the IMF yesterday for demanding more austerity in Portugal while acknowledging that too much budget rigour...

Infosys shares soar on outlook 12 Jan 2013 - 12:43 am

BANGALORE: Indian IT outsourcer Infosys yeterday reported a stronger-than-expected quarterly profit and gave an improved outlook for annual revenues, sending its shares soaring....

Indian minister says Areva nuclear deal is close: Report 12 Jan 2013 - 12:41 am

French President Francois Hollande (loeft) welcomes Indian Foreign Minister Salman Khurshid at the Elysee presidential palace in Paris yesterday. PARIS: India and French...

Japan unveils $226.5bn stimulus 12 Jan 2013 - 12:41 am

TOKYO: Japan’s new government unveiled a $226.5bn stimulus plan yesterday in the latest bid to boost the world’s number three economy, with plans...

Honda to cut 800 jobs in UK 12 Jan 2013 - 12:40 am

LONDON: Japanese carmaker Honda plans to cut around 800 jobs at its plant near Swindon in southwest England due to falling demand for...

Italy debt offering sends three-year yields below 2pc 12 Jan 2013 - 12:40 am

MILAN: Return-hungry investors snapped up Italian bonds at an auction yesterday, pushing yields on three-year paper below two percent for the first time...

Tullow drilling in spotlight after mixed 2012 data 12 Jan 2013 - 12:38 am

LONDON: Tullow Oil Plc has a record 49 wells planned this year, and drilling engineers due to deliver news by February are under...

Dubai’s Gold Souq 11 Jan 2013 - 05:55 am

Employees arrange jewellery at a shop at the Gold Souq in Dubai, yesterday. Gold rose over 1 percent to over $1,675 an ounce...

Qatar Foundation to buy major stake in Ahli Bank 11 Jan 2013 - 05:55 am

DOHA: Ahli United Bank, Bahrain’s largest listed lender, has agreed to sell its influential stake in Qatar’s Ahli Bank (ABQ) to Qatar Foundation...

Iraq says can sue over illegal oil exports 11 Jan 2013 - 05:53 am

BAGHDAD: Iraq has the right to take legal action against oil companies exporting crude without dealing with the central government, including confiscating cargoes...

Saudi cuts oil production as demand eases 11 Jan 2013 - 05:53 am

DUBAI: Saudi Arabia has cut oil production substantially, moving to fend off a growing overhang in world oil supply and defend prices well...