Business

Fed move spurs ‘Santa Claus rally’ for US stocks 21 Dec 2014 - 06:55 am

NEW YORK: US stocks went from famine to feast last week, starting out fearful of crashing oil prices and finishing it smiling at...

China cuts red-tape for foreign bank branch openings 21 Dec 2014 - 06:55 am

SHANGHAI: China has cut red-tape for foreign bank branch openings and entry into renminbi business, state media said yesterday, the latest in a...

Fitch maintains AA rating for Kuwait 21 Dec 2014 - 06:55 am

Kuwait: Fitch Ratings has affirmed Kuwait’s long-term foreign and local currency Issuer Default Ratings (IDR) at ‘AA,’ according to a fresh report released...

AstraZeneca CEO says new Pfizer bid unlikely 21 Dec 2014 - 06:54 am

STOCKHOLM: US Pfizer is unlikely to come back with a fresh bid for AstraZeneca, the Anglo-Swedish pharmaceuticals group’s top executive was quoted as...

China revises up size of 2013 economy; no effect on 2014 21 Dec 2014 - 06:54 am

BEIJING: China revised up the size of its economy in 2013 but sees that having little effect on economic growth this year, amid...

Flipkart raises $700m in fresh funding 21 Dec 2014 - 06:53 am

MUMBAI: Flipkart, India’s largest online retailer, yesterday said it had raised funding worth $700m, as it tries to compete with Amazon, which is...

Oman sovereign fund boosts local stocks 21 Dec 2014 - 06:53 am

MUSCAT: Oman’s State General Reserve Fund (SGRF) has boosted its buying of shares in the local stock market as prices have slid to...

US agency files complaints against McDonald’s 21 Dec 2014 - 06:53 am

New York: McDonald’s Corp and some of its franchisees were named jointly in complaints filed on Friday by the US National Labor Relations...

Oil up 5pc as bears take profits, seeing $60 floor 21 Dec 2014 - 06:52 am

NEW YORK: Oil closed up as much as 5 percent on Friday, its biggest gain in over two years, as some traders took...

Reform or ‘miss the bus’, warns India’s finance minister 21 Dec 2014 - 06:52 am

NEW DELHI: India’s finance minister appealed to opposition parties yesterday to cooperate in passage of economic reform legislation, warning otherwise Asia’s third-largest economy...

The NR Eye: When FD rates fall, NRIs can look at debt funds 21 Dec 2014 - 06:52 am

by Moiz Mannan Non-resident Indians, who want to see their money grow in India, have had it very good over past months with...

China revises up size of 2013 economy; no effect on 2014 20 Dec 2014 - 10:55 pm

BEIJING: China revised up the size of its economy in 2013 but sees that having little effect on economic growth this year, amid...

AstraZeneca CEO says new Pfizer bid unlikely 20 Dec 2014 - 10:55 pm

STOCKHOLM: US Pfizer is unlikely to come back with a fresh bid for AstraZeneca, the Anglo-Swedish pharmaceuticals group’s top executive was quoted as...

Flipkart raises $700m in fresh funding 20 Dec 2014 - 10:54 pm

MUMBAI: Flipkart, India’s largest online retailer, yesterday said it had raised funding worth $700m, as it tries to compete with Amazon, which is...

Brent oil spirals below $60 in volatile week 20 Dec 2014 - 01:40 pm

Traders work on the floor of the New York Stock Exchange in New York City yesterday. LONDON: Brent oil prices plummeted this week...

Hanoi’s iconic firm 20 Dec 2014 - 01:38 pm

Workers at the production facility at Rang Dong light source and vacuum flask company in Hanoi, Vietnam, yesterday. One of 13 factories established...

European nations in talks with Airbus on air tankers 20 Dec 2014 - 01:36 pm

BRUSSELS: The Netherlands, Poland and Norway are to negotiate with Airbus to buy four military in-flight refuelling planes, European defence officials said yesterday....

Google aiming to go into car with next Android 20 Dec 2014 - 01:36 pm

SANFRANCISCO/DETROIT: Google Inc is laying the groundwork for a version of Android that would be built directly into cars, sources said, allowing drivers...