Business

AT&T to buy Mexican wireless company Iusacell for $2.5bn 09 Nov 2014 - 12:36 am

NEW YORK: US telecom giant AT&T announced plans to buy Mexican wireless operator Iusacell for $2.5bn and use it to create a mobile...

China trade growth slows in October in further sign of fragility 09 Nov 2014 - 12:35 am

BEIJING: Annual growth in China’s exports and imports slowed in October, data showed yesterday, reinforcing signs of fragility in the world’s second-largest economy...

Pakistan to issue dollar sukuk this month 09 Nov 2014 - 12:35 am

DUBAI: Pakistan plans to issue a US dollar-denominated Islamic bond worth at least $500m this month and also hopes to obtain $1.1bn from...

Transocean takes $2.76bn charge amid drilling rig glut 09 Nov 2014 - 12:35 am

HOUSTON: Transocean, owner of the biggest fleet of deep-water drilling rigs, is feeling the effect of an industry-wide glut in the expensive vessels...

Jobless rate in Canada drops to 6-year low 09 Nov 2014 - 12:34 am

OTTAWA: Canada’s unemployment rate unexpectedly fell to a six-year low last month on hiring led by retailers and financial companies. Employment rose by...

Indonesia to expand five ports 09 Nov 2014 - 12:34 am

JAKARTA: Indonesian President Joko Widodo is targeting almost $6bn in projects to expand ports across the world’s biggest archipelago, where investors are deterred...

ArcelorMittal profits rise on US steel boom 09 Nov 2014 - 12:34 am

NEW YORK: ArcelorMittal, the world’s largest steel maker, reported a bigger than expected jump in profit as booming US steel demand outweighed a...

Secret Luxembourg tax deals 08 Nov 2014 - 08:23 am

A general view of the city of Luxembourg. More than 300 companies, including PepsiCo Inc, AIG Inc and Deutsche Bank AG, secured secret...

ECB should be ready to buy govt bonds: Noyer 08 Nov 2014 - 08:22 am

Bank of England Governor Mark Carney (left), Germany’s Bundesbank President Jens Weidmann (centre) and Daniele Nouy, President of the Supervisory Council at the...

Ailing rouble gets boost as market looks to central bank lifeline 08 Nov 2014 - 08:21 am

A woman walks out of a shop with a sale advertisement on its window in St Petersburg yesterday. A deepening crisis of confidence...

Mexico scraps $3.75bn China rail contract 08 Nov 2014 - 08:19 am

MEXICO CITY: Mexico has revoked a $3.75bn high-speed rail contract from a Chinese-led consortium after its uncontested bid prompted an outcry from lawmakers,...

US jobless rate dips in October 08 Nov 2014 - 08:19 am

WASHINGTON: The US unemployment rate fell again in October even if job creation, weaker than expected, was lower than in September, according to...

Oil steadies above $83 as dollar hits four-year high 08 Nov 2014 - 08:19 am

LONDON: Brent crude oil steadied above $83 a barrel yesterday, consolidating after several months of sharp falls as US data pointed to stronger...

EU’s bank to loan Britain’s power grid $2.4bn 08 Nov 2014 - 08:18 am

LONDON: The European Union’s bank will loan Britain’s National Grid, £1.5bn ($2.4bn), its biggest ever single loan, the bank said yesterday. The European...

APR suspends power generation in Libya 08 Nov 2014 - 08:18 am

London: APR Energy Plc, which runs temporary power plants, suspended electricity generation in Libya and said its results could be hurt, a warning...

Shipping firms scramble to source fuel 08 Nov 2014 - 08:18 am

SINGAPORE/COPENHAGEN: Traders and shipping companies scrambled to source fuel and take over supply contracts yesterday after Danish marine fuel supplier OW Bunker said...

Jet Airways reports first quarterly profit in two years 08 Nov 2014 - 08:17 am

NEW DELHI: Struggling Jet Airways, one of India’s biggest carriers, reported yesterday a quarterly profit for the first time in two years, boosted...

German rail strike 08 Nov 2014 - 02:10 am

Passengers enter a U-Bahn underground train during a nationwide strike by Germany’s train drivers’ union GDL, at Alexanderplatz underground station in Berlin yesterday....