Business

Credit Suisse posts heavy loss after tax fine 23 Jul 2014 - 02:13 am

CEO Brady Dougan (left) and CFO David Mathers of Credit Suisse at a news conference to present the bank’s half-year results in Zurich...

Xiaomi targets Apple, Samsung 23 Jul 2014 - 02:11 am

Lei Jun, founder and CEO of China’s mobile company Xiaomi, at a launch ceremony of Xiaomi Phone 4, in Beijing, yesterday. Xiaomi unveiled...

Banks, real estate stocks lift QE index 1.29pc 23 Jul 2014 - 02:10 am

DOHA: Qatar Exchange (QE) benchmark index rose 1.29 percent on the support of banks and real estate stocks yesterday. QNB gained 2.18 percent...

Masraf Al Rayan profit up 10.1pc 23 Jul 2014 - 02:09 am

DOHA: Masraf Al Rayan has recorded a net profit of QR904m for the first half of 2014, an increase of 10.1 percent compared...

MSCI could add Saudi Arabia as emerging market next year 23 Jul 2014 - 02:09 am

LONDON: Index compiler MSCI will consult with investors about adding Saudi Arabia to its broader stock indices and could make a decision to...

Bestway buys Co-op’s pharma business 23 Jul 2014 - 02:08 am

Doha: Bestway Group and The Co-operative Group have announced that they have acquired Co-op’s pharmacy business for a purchase price of £620m. The...

Monthly PPI rises marginally by 0.3pc 23 Jul 2014 - 02:08 am

DOHA: The Monthly Producer Price Index (PPI) for May 2014 stood at 170.3 (base 2006=100), showing a marginal increase of 0.3 percent over...

Woqod net profit rises 12.47pc to QR530m for H1 23 Jul 2014 - 02:08 am

DOHA: Woqod yesterday announced that its net profit (excluding minority interest) for the first half of 2014 exceeded QR530m, registering an increase of...

US inflation creeping up, housing sales rise 23 Jul 2014 - 01:41 am

WASHINGTON: US home resales hit an eight month-high in June, suggesting the housing market was gradually regaining momentum and would help the economy...

Barclays, Deutsche Bank under US tax scanner 23 Jul 2014 - 01:40 am

WASHINGTON: Two of Europe’s largest banks, Barclays and Deutsche Bank, have sold complex financial products that allowed hedge funds to avoid US taxes,...

UK govt slipping off fiscal target 23 Jul 2014 - 01:40 am

LONDON: Britain’s public finances showed a bigger than expected deficit in June, continuing a weak start to the tax year and leaving Finance...

Islamic Development Bank places $1bn sukuk 23 Jul 2014 - 01:39 am

Jeddah: Saudi Arabia-based Islamic Development Bank (IDB) issued $1bn in five-year sukuk earlier this month, the largest ever privately-placed transaction from the supranational...

QCB real estate index touches record high 22 Jul 2014 - 08:14 am

By Satish Kanady DOHA: The Qatar Central Bank’s (QCB) real estate price index hit a record high in June 2014, surging to 230.6...

GDI signs contract with Dolphin Energy 22 Jul 2014 - 08:14 am

Ibrahim J Al Othman, CEO of GDI and Adel Ahmed Albuainain, General Manager, Dolphin Energy at the signing ceremony. DOHA: Gulf Drilling International...

QPMC, N-KOM in deal for building floating jetty 22 Jul 2014 - 08:13 am

Officials at the signing ceremony. DOHA: Nakilat-Keppel Offshore & Marine (N-KOM) has bagged a contract worth QR69m (about $18.95m) to design and construct...

Milaha records QR518m net profit for first half 22 Jul 2014 - 08:12 am

DOHA: Qatar Navigation Company (Milaha) recorded a net profit of QR518m for the first half of 2014 (H1, 14), a 10 percent year-over-year...

Tesco ditches CEO for Unilever man after profit warning 22 Jul 2014 - 08:11 am

LONDON: Tesco is to ditch Chief Executive Philip Clarke and replace him with a turnaround specialist from Unilever, ending a disastrous three year...

Halliburton profits up 20pc 22 Jul 2014 - 08:11 am

The company logo of Halliburton oilfield services corporate offices in Houston, Texas. Halliburton Co, the world’s No. 2 oilfield services provider, reported a...