Business

Allied bank closed 11 Jan 2015 - 01:15 am

A notice of closure is pasted on the window of a branch of Allied bank in central Harare. Allied, one of Zimbabwe’s smaller...

Fast Retailing profits rise 11 Jan 2015 - 01:12 am

A woman enters the Uniqlo flagship store in Tokyo. Asia’s biggest apparel retailer, Fast Retailing Co Ltd’s, September-November quarter operating profit rose a...

Strike at Volkswagen Brazil plant 11 Jan 2015 - 01:12 am

Picketers blocking the entrance to the Volkswagen plant during an indefinite strike in Sao Bernardo do Campo, near Sao Paulo, Brazil. Volkswagen AG...

QIB’s call centre wins award for best customer experience 11 Jan 2015 - 01:08 am

DOHA: Qatar Islamic Bank’s (QIB) ‘Call Centre’ has been designated as offering the best customer experience of all banks in the country, according...

Real estate transaction value up 24pc in 2014 11 Jan 2015 - 01:07 am

DOHA: Qatar’s real estate transactions witnessed a 24 percent jump in 2014 on year-on-year. The combined value of the country’s real estate transactions...

GIB launches region’s first online-only retail bank 11 Jan 2015 - 01:07 am

KHOBAR: Gulf International Bank (GIB) has launched the Middle East’s first online-only consumer banking business, seeking to diversify after almost collapsing during the...

BP, Anadarko fail to win review of Gulf spill fines 11 Jan 2015 - 01:06 am

New York: BP Plc and Anadarko Petroleum Corp narrowly failed to persuade a US appeals court to reconsider its 2014 ruling that they...

ACWA Power wins €1.7bn Morocco solar power deal 11 Jan 2015 - 01:06 am

RABAT: A consortium led by Saudi Arabia’s ACWA Power International has won a €1.7bn contract to build two solar power plants totalling 350...

Fitch cuts Russia rating, sets negative outlook 11 Jan 2015 - 01:06 am

Washington: Fitch Ratings cut Russia’s credit grade to just one notch above junk level, saying plunging oil prices and Western sanctions will force...

Cyprus Airways closure unavoidable, says govt 11 Jan 2015 - 01:05 am

Nicosia: Cyprus defended yesterday the decision to halt flights by its national carrier, calling the closure of debt-laden Cyprus Airways “unavoidable”, as pilots...

Rescue plan for SpiceJet by month-end 11 Jan 2015 - 01:05 am

NEW DELHI: A package to bail out SpiceJet Ltd could be finalised as early as this month, raising the prospect of a last-minute...

Kerry to push India to give US firms greater access 11 Jan 2015 - 01:05 am

WASHINGTON: US Secretary of State John Kerry will push India to make it easier for US companies to do business there on a...

Fed pays record $98.7bn profits to US Treasury 11 Jan 2015 - 01:04 am

Washington: The Federal Reserve said it had paid a record $98.7bn in profits to the Treasury in 2014, most of it earned from...

United Airlines dumps losing fuel hedges 11 Jan 2015 - 01:04 am

New York: United Airlines has paid a premium to dump old losing bets on higher oil prices, and is reviewing its strategy for...

Starbucks moves Tazo tea out of its shops 11 Jan 2015 - 01:04 am

LOS ANGELES: Starbucks Corp this week began selling its Tazo tea products exclusively in non-Starbucks retailers. The world’s biggest coffee chain on Tuesday...

More states join US probe on Family Dollar merger 11 Jan 2015 - 01:04 am

WASHINGTON: Some 20 state attorneys general have joined the federal antitrust investigation of competing bids by Dollar General Corp and Dollar Tree Inc...

Aer Lingus rejects new bid from BA owner 11 Jan 2015 - 01:04 am

LONDON: The owner of British Airways said that Aer Lingus had rejected a revised takeover approach that valued the Irish airline at 2.40...

Low wages, inflation should keep Fed on hold: Analysts 11 Jan 2015 - 01:03 am

Washington: Slow wage growth and low inflation are prompting two top US Federal Reserve officials to call for deferring interest-rate increases until next...