Business

Samsung net profit rises to $5.97bn 27 Oct 2012 - 03:01 am

Seoul: Samsung Electronics said yesterday that net profit almost doubled to a record 6.6 trillion won ($5.97bn) in the third quarter, powered by...

World’s spare oil capacity grows: Report 27 Oct 2012 - 03:01 am

WASHINGTON: The world’s spare oil production capacity outside of Iran rose in last two months as petrol demand waned in the United States...

US economy picks up steam in Q3 27 Oct 2012 - 03:00 am

WASHINGTON: The US economy picked up steam in the third quarter, led by a surge in government spending, but remains stuck in the...

UBS ‘rogue trader’ in tears as he defends $2.3bn loss 27 Oct 2012 - 03:00 am

LONDON: Kweku Adoboli, the UBS trader accused of gambling away $2.3bn, sobbed in a London court yesterday, saying he had spent every waking...

Morocco eyes investments from Gulf to offset slowdown 27 Oct 2012 - 02:59 am

RABAT: Morocco, facing slower growth and effects of the economic crisis in European partners, aims to attract investments from the the Gulf which...

NEC swings to first-half profit 27 Oct 2012 - 02:49 am

A man looks at NEC Corp’s computer displayed at an electronics store in Tokyo. NEC turned an operating loss of 7.88bn yen ($98m)...

Spanish jobless rate bursts past 25 percent 27 Oct 2012 - 02:48 am

MADRID: Spain announced yesterday that its jobless rate broke the 25-percent barrier for the first time in modern history as austerity cuts squeezed...

US businesses fleeing slumping Europe 27 Oct 2012 - 02:48 am

NEW YORK: Some of the biggest names in US industry are cutting back staff and shutting plants in Europe as the continent is...

European stocks rebound; gold up 27 Oct 2012 - 02:47 am

LONDON: European stocks rebounded yesterday on figures that showed a pick up in the US growth rate, after having taken a hit on...

Anglo American chief steps down 27 Oct 2012 - 02:47 am

JOHANNESBURG: Global miner Anglo American, hit by violent strikes at platinum mines in South Africa, said yesterday that its first female chief executive...

Ireland determined to exit EU bailout: Foreign minister 27 Oct 2012 - 02:47 am

BERLIN: Irish Foreign Minister Eamon Gilmore said yesterday that his country aimed to be the first of the struggling eurozone nations to exit...

UK bounces back from double dip recession 26 Oct 2012 - 04:19 am

LONDON: The British economy has escaped from its longest double-dip recession since the 1950s, rebounding by 1 percent in the third quarter with...

Ford deepens European cuts, sees $3bn losses 26 Oct 2012 - 04:18 am

LONDON/DETROIT: Ford unleashed a second volley of European job cuts and plant closures yesterday to try to halt regional losses it expects to...

Gold rebounds above $1,700 26 Oct 2012 - 04:18 am

NEW YORK: Gold rose above $1,700 an ounce yesterday, a day after it fell under that, in reaction to encouraging United Kingdom GDP...

Qatar eyes major stakes in seven European banks 26 Oct 2012 - 04:18 am

DOHA: Qatar is considering buying major stakes in investment banks in Europe. Negotiations are underway with seven banks suffering from accumulated financial crises...

Microsoft unveils Windows 8, new tablet 26 Oct 2012 - 04:17 am

NEW YORK: Microsoft unveiled a revamped version of its flagship Windows system yesterday designed for increasingly mobile consumers and previewed Surface, its entry...

Qatar Navigation nets QR637.4m profit in 9 months 26 Oct 2012 - 04:16 am

DOHA: Qatar Navigation (Milaha) has recorded a net profit of QR637.4m for the nine months period ended September 30, 2012, an increase of...

European stocks mixed, sterling gains 26 Oct 2012 - 04:15 am

LONDON: European stock markets posted mixed results yesterday but the pound gained ground after data showed that Britain had marched smartly out of...