Business

Algeria sops for energy investors 03 Nov 2012 - 05:52 am

ALGIERS: Algeria plans to start linking taxes on foreign energy firms to profits instead of turnover, according to draft amendments to its hydrocarbons...

Global air passenger traffic growth slows 03 Nov 2012 - 05:52 am

GENEVA: Global air passenger traffic growth has slowed considerably, and rose by just 4.1 percent year-on-year in September, the International Air Transport Association...

Wipro net profit rises 24 percent 03 Nov 2012 - 05:52 am

MUMBAI: Wipro, India’s third-largest outsourcing firm, said quarterly net profit jumped by a surprise 24 percent on stronger demand as clients sought to...

Apple launches new iPad mini 03 Nov 2012 - 03:07 am

Customers look over Apple’s iPad mini at an Apple store in London yesterday. ROME: Shoppers got their hands on Apple’s new iPad mini...

Full output ramp-up at Pearl GTL soon: Shell 02 Nov 2012 - 05:51 am

LONDON: Royal Dutch Shell Chief Financial Officer Simon Henry said the company was “nearly there” in ramping up to full output at its...

QE market cap falls to QR467.4bn in October 02 Nov 2012 - 05:50 am

DOHA: Qatari equities rose marginally last month. The main index of the Qatari bourse added 36.28 points, or 0.43 percent, during October over...

Japan’s electronics sector warns of dire outlook 02 Nov 2012 - 05:49 am

TOKYO: Warnings from Panasonic and Sharp that they will post a combined annual loss of more than $15bn has reignited fears about the...

Iraq opens biggest trade fair in 20 years 02 Nov 2012 - 05:48 am

Baghdad: Iraq opened yesterday its biggest trade fair in more than 20 years, the latest step in Baghdad’s efforts to rebuild an economy...

Glencore says Q3 solid, but outlook gloomy 02 Nov 2012 - 05:48 am

ZURICH: Swiss commodities giant Glencore said yesterday that its performance in the third quarter had been good, but cautioned that there was no...

ExxonMobil Q3 profit dips 02 Nov 2012 - 05:48 am

NEW YORK: US energy giant ExxonMobil reported yesterday a smaller-than-expected dip in profit for the third quarter on falling production and sales. Net...

Greek loan talks in limbo, bankruptcy looms 02 Nov 2012 - 04:30 am

ATHENS: Greece’s negotiations with international lenders for desperately needed rescue funds some two weeks before bankruptcy looms are stuck, the IMF said yesterday,...

Dana Gas fails to repay $920m Islamic bond 02 Nov 2012 - 04:30 am

DUBAI: The United Arab Emirates’ Dana Gas failed to repay a $920m Islamic bond on maturity, prompting a source close to holders of...

European stocks rise on positive data 02 Nov 2012 - 04:29 am

LONDON: European stocks rose yesterday on a barrage of positive earnings reports and buoyant US data, shrugging of the latest twist in Greece’s...

IFSB releases draft standards on capital adequacy 02 Nov 2012 - 04:29 am

DUBAI: The Islamic Financial Services Board (IFSB) released new draft guidelines on capital adequacy for Islamic banks and the risk management of takaful...

Brent and US crude diverge 02 Nov 2012 - 04:28 am

LONDON: Brent crude oil futures fell to around $108.40 a barrel yesterday as investors assessed the aftermath of super storm Sandy, while US...

Qatari firms disappoint investors 01 Nov 2012 - 05:30 am

DOHA: Qatari listed companies have failed to impress investors with their net profits that add up to QR28.5bn ($7.80bn) year-on-year in the first...

Mena energy capital investment to reach $740bn in five years 01 Nov 2012 - 05:29 am

DOHA: With an objective to meet its fast growing electricity demand, the Middle East and North Africa’s (Mena) total energy capital investment is...

Qatar banks preparing for infrastructure boom 01 Nov 2012 - 05:28 am

DOHA: Qatari banks are bulking up to play a role in funding the country’s massive infrastructure expansion. But in a country which is...