Business

BES hearing 10 Dec 2014 - 12:15 pm

Ricardo Salgado (centre left), former CEO of rescued Portugese bank Banco Espirito Santo (BES), attends a House committee to speak on BES’ situation...

Tesco cuts profit forecast 10 Dec 2014 - 12:12 pm

A woman walks past a Tesco supermarket in central London, yesterday. The British grocer has cut profit expectations for the fourth time this...

BP to invest $12bn in Egypt over five years 10 Dec 2014 - 12:10 pm

CAIRO: British oil major BP plans to invest more than $12bn in Egypt over the next five years, and to double its gas...

Mazda to expand US recalls over Takata air bag issue 10 Dec 2014 - 12:08 pm

TOKYO: Japan’s Mazda Motor Corp will soon expand a recall of vehicles in the United States involving potentially defective air bags from Takata...

Nissan recalls about 470,000 SUVs, cars for fuel leaks 10 Dec 2014 - 12:08 pm

DETROIT: Nissan Motor Co said it is recalling about 470,000 sport utility vehicles and cars globally for possible fuel leaks. Nissan is recalling...

UAE to activate yuan swap soon; eyes rules for lending against shares 10 Dec 2014 - 12:08 pm

ABU DHABI: The central banks of the United Arab Emirates and China aim to activate their 35bn yuan ($5.7bn) currency swap agreement soon,...

EU reveals €1.3-trillion Juncker investment plan 10 Dec 2014 - 12:07 pm

BRUSSELS: EU nations unveiled a list of 2,000 projects worth €1.3 trillion on Tuesday that will compete for financing from an investment plan...

Gulf Air set to expand loyalty plan with BKIC 10 Dec 2014 - 12:07 pm

Doha: The Kingdom of Bahrain’s national carrier, Gulf Air, announced a partnership with Bahrain Kuwait Insurance Company (BKIC) giving the insurance provider’s customers...

QBIC announces its LeanStartup winners 10 Dec 2014 - 12:07 pm

DOHA: The Qatar Business Incubation Center (QBIC), a joint initiative of Qatar Development Bank (QDB) and Social Development Center (SDC), successfully concluded its...

Russia to raise rates, squeeze liquidity 10 Dec 2014 - 12:07 pm

LONDON: Pressure is building on Russia’s central bank to support the rouble via a big rise in interest rates at this week’s policy...

Energy-starved Ukraine gets first Russian gas since June 10 Dec 2014 - 12:05 pm

KIEV: Energy-starved Ukraine said yesterday it had received the first Russian natural gas shipments since a politically charged price dispute saw Moscow cut...

SpiceJet cuts 1,831 flights this month as financial woes bite 10 Dec 2014 - 12:03 pm

NEW DELHI: Cash-strapped Indian airline SpiceJet said yesterday it has cancelled nearly 1,900 flights across the country for this month, as its financial...

Australia signals crackdown on risky lending 10 Dec 2014 - 12:03 pm

SYDNEY: Australian regulators said yesterday that they would take a tougher line on risky mortgage lending, seeking to pre-empt the threat of a...

Energy firms hit by falling oil, commodity prices 10 Dec 2014 - 12:02 pm

SYDNEY: Shares in Australian energy companies were hammered yesterday by plunging oil and commodity prices, with BHP hitting a five-year low and Santos...

Gold rises nearly two percent as dollar, equities slide 10 Dec 2014 - 12:02 pm

LONDON: Gold rose two percent yesterday, hitting its highest since late October, as cautious comments from U.S. Federal Reserve policymakers prompted a pullback...

Mining giant BHP names its spin-off as South32 10 Dec 2014 - 12:02 pm

SYDNEY: The world’s biggest miner BHP Billiton has named its proposed spin-off South32, with the demerger on track to be completed in the...

Petrobras faces NY lawsuit over graft 10 Dec 2014 - 12:01 pm

RIO DE JANEIRO: State-controlled oil company Petroleo Brasileiro SA and its top executives face a class-action lawsuit in a federal court in New...

Bank of Sharjah plans to refinance $200m loan in Q1 2015 10 Dec 2014 - 12:01 pm

DUBAI: Bank of Sharjah plans to refinance a $200m two-year loan maturing next year, said the lender’s executive director, as the United Arab...