Business

Britain sticks to austerity path in budget 21 Mar 2013 - 01:13 am

LONDON: Britain will stick firmly to a barrage of austerity measures, finance minister George Osborne insisted yesterday in a budget that also slashed...

DMCC to launch Islamic commodity trade platform 21 Mar 2013 - 01:12 am

DUBAI: Dubai’s government-owned commodities centre is launching a Shariah-compliant commodity trading platform which Islamic banks in the Gulf could use to manage their...

US oil output to surpass imports this year: EIA 21 Mar 2013 - 01:11 am

WASHINGTON: The US will become a net oil exporter late this year as domestic crude production surpasses imports for the first time in...

Airlines see profits rising 58 percent this year 21 Mar 2013 - 01:11 am

GENEVA: The global airlines body IATA predicted yesterday that the industry would increase profits by 58 percent this year, driven by growing passenger...

Sheikh Khalid meets top US official 20 Mar 2013 - 03:52 am

Sheikh Dr Khalid bin Thani bin Abdullah Al Thani (left), Deputy Chairman of Qatari Businessmen Association (QBA) with Francisco J Sanchez, the US...

Nakilat forays into superyacht market 20 Mar 2013 - 03:50 am

The Minister of State H E Sheikh Mohammed bin Fahad Al Thani (right) with Chairman of Nakilat Damen Shipyards Qatar Muhammad Ghannam, after...

Qatar, Australia agree to boost investments 20 Mar 2013 - 03:50 am

DOHA: Australia and Qatar are set to increase the level of mutual investments in the respective countries following an agreement signed between Qatar...

Gulf banks look beyond the region 20 Mar 2013 - 03:49 am

DOHA: As the bankable population in the Gulf region is structurally limited, banks in the region is looking for Egypt, Turkey and Asian...

Saudi labour reforms add 600,000 pvt sector jobs 20 Mar 2013 - 03:49 am

RIYADH: Saudi Arabia’s attempts to reform its expatriate-heavy labour market have put more than 600,000 locals into jobs at private companies, a senior...

BMW ‘cautiously optimistic’ after record year 20 Mar 2013 - 03:47 am

Visitors at a showroom of German carmaker BMW next to the company's main factory during the annual results press conference in Munich, yesterday....

Most GCC bourses recover lost ground 20 Mar 2013 - 03:47 am

DUBAI: Most Gulf markets rose yesterday as bargain hunters returned following a sell-off a day earlier, while Orascom Construction Industries (OCI) helped lift...

Oil prices trade mixed over Cyprus uncertainty 20 Mar 2013 - 03:47 am

LONDON: Global crude oil prices traded mixed yesterday, with investors closely following developments in the eurozone as Cyprus rethinks a controversial bailout deal,...

India cuts key interest rate 20 Mar 2013 - 03:46 am

MUMBAI: India’s central bank cut its main interest rate for the second time this year yesterday, lowering it by 25 basis points in...

Saudi to launch Fannie Mae-style firm 20 Mar 2013 - 03:45 am

RIYADH: Saudi Arabia’s central bank plans to launch a real estate refinancing company with SR5bn ($1.3bn) of capital to help develop the kingdom’s...

Citigroup to pay $730m to settle suit 20 Mar 2013 - 03:45 am

NEW YORK: US banking giant Citigroup said it will pay $730m to settle a class-action suit by bondholders related to the 2008 financial...

Cyprus seeks Russia help 20 Mar 2013 - 03:44 am

NICOSIA: Cyprus turned to Russia yesterday as President Nicos Anastasiades battled to garner support from lawmakers for a controversial eurozone bailout deal that...

Boost for Boeing 20 Mar 2013 - 03:43 am

Five Ryanair 737-800 passenger jets at Boeing Field in Seattle, Washington, yesterday. Ryanair handed Boeing its largest European order yesterday with a deal...

Mobile roll-out cuts profits of Iliad 20 Mar 2013 - 03:42 am

PARIS: French media and telecommunications group Iliad, which shook up the mobile market with a cut-rate offer that attracted 5.2 million clients last...