Business

US-China trade meet 19 Dec 2014 - 12:17 am

US Commerce Secretary Penny Pritzker (centre) speaks at the US-China Joint Commission on Commerce and Trade event in Chicago yesterday.

Tower rents to face pressure on new supply 19 Dec 2014 - 12:10 am

DOHA: Qatar’s office and residential rental markets remained strong during the third quarter of 2014 (Q3, 14). Offices recorded high rates across locations,...

Impossible for Saudi to reduce oil output: Minister 19 Dec 2014 - 12:09 am

RIYADH: Leading Opec producer Saudi Arabia said yesterday that competitive pressures prevent it from reducing output, and the kingdom can weather plunging oil...

Mercedes recalls 4,871 cars, SUVs in US for oil leak 19 Dec 2014 - 12:08 am

DETROIT: Mercedes-Benz is recalling 4,871 sedans and SUVs in the United States because of a potential oil leak, according to documents filed with...

Russian firms explore ways to ease foreign debt payment pain 19 Dec 2014 - 12:07 am

MOSCOW: Russian firms are scrambling to repay or restructure the terms of foreign currency loans as the rouble’s loss of value and an...

GM, JLR suspend car deliveries to Russia 19 Dec 2014 - 12:07 am

HAMBURG/PARIS: Carmakers including General Motors and Jaguar Land Rover have stopped delivering to Russian dealerships in response to the sharp slide in the...

Kellogg outbids Abraaj for third time in race for Egypt’s Bisco 19 Dec 2014 - 12:07 am

CAIRO: Breakfast cereal maker Kellogg Co has again raised its bid for Egyptian snack maker Bisco Misr, outbidding private equity group Abraaj for...

Qatar stocks lose QR60bn in four-day trading week 18 Dec 2014 - 12:09 am

DOHA: Qatar stocks ended higher yesterday, following a 3.51 percent slump on Tuesday, as the market closed for a long weekend. The bourse...

Oil gains $3 on technical buying 18 Dec 2014 - 12:08 am

NEW YORK: Crude oil jumped nearly 5 percent yesterday as important chart support prices held fast after nearly a week of selling, leading...

Rupiah near 16-year low 18 Dec 2014 - 12:07 am

An employee holds Indonesian rupiah notes at a store in Jakarta. The rupiah tumbled against US dollar, hovering around 12,900 per US dollar...

First Finance Company wins awards 18 Dec 2014 - 12:05 am

Aisha Al Hudaifi, Head of the Ladies Section at First Finance Company, a subsidiary of Barwa Bank Group, accepting the award on behalf...

Final shift at Ford’s Genk plant 18 Dec 2014 - 12:04 am

Workers leave the factory for one of their final shifts at the Ford Motor Co plant in Genk, Belgium, yesterday. Ford announced that...

Petrobras chief won’t quit despite graft probe 18 Dec 2014 - 12:03 am

RIO DE JANEIRO: The chief executive of Brazil’s state oil giant Petrobras said yesterday that she will not resign despite the corruption scandal...

China’s Baidu invests in controversial Uber 18 Dec 2014 - 12:02 am

BEIJING: Chinese search engine Baidu, the country’s equivalent of Google, announced yesterday it has bought a stake in Uber for an undisclosed sum,...

Kirchner attends summit 18 Dec 2014 - 12:01 am

Argentina’s President Cristina Fernandez de Kirchner arrives for the Southern Common Market (MERCOSUR) trade bloc annual summit in Parana, north of Buenos Aires, ...

Kurdistan oil exports to hit 800,000 bpd 18 Dec 2014 - 12:00 am

LONDON: Iraq’s semi-autonomous Kurdistan Regional Government will ramp up oil exports in the coming months, moving it closer to economic self-sufficiency while it...

Saudi to keep massive spending in 2015 budget 17 Dec 2014 - 11:52 pm

RIYADH: Saudi Arabia will continue massive public spending despite a 50 percent drop in the price of oil, which provides the bulk of...

GE to distribute $40bn to shareholders 17 Dec 2014 - 11:51 pm

NEW YORK: US industrial conglomerate General Electric said it plans to distribute $40bn to its shareholders in 2015 and 2016 in the form...