Business

India’s Reliance posts record $1bn profit in first quarter 20 Jul 2014 - 01:35 am

NEW DELHI: Indian retail-to-energy group Reliance Industries Ltd reported a record $1bn net profit for the financial first-quarter, fuelled by a strong petrochemicals...

GE’s $3bn credit card IPO pegged to US consumer recovery 20 Jul 2014 - 01:34 am

New York: The success of General Electric Co’s impending initial public offering for its private-label credit card unit could ride on investors’ willingness...

Argentina bent on default as debt deadline looms: NML 20 Jul 2014 - 01:34 am

BUENOS AIRES/NEW YORK: A lead holdout investor in Argentina’s debt row said the South American country seemed determined to default, after market gossip...

EU-US sixth round of trade talks end amid protests 20 Jul 2014 - 01:33 am

BRUSSELS: EU and US negotiators ended a sixth round of trade liberalisation talks on Friday by vowing to maintain transparency, as anti-globalisation protesters...

Bank Muscat Q2 profit jumps 22pc 20 Jul 2014 - 01:32 am

DUBAI: Bank Muscat, Oman’s largest lender, posted a 22.3 percent increase in its second-quarter net profit, beating analysts’ estimates as it booked a...

ECB cites litany of long-term dangers from loose policy 20 Jul 2014 - 01:32 am

MADRID: European Central Bank policymaker Jens Weidmann said that loose monetary policy had “done its bit” to maintain price stability in the eurozone,...

Roche CEO plans to steer clear of big acquisitions 20 Jul 2014 - 01:32 am

ZURICH: Roche plans to steer clear of the wave of big takeovers sweeping through the healthcare industry and focus instead on small acquisitions...

BES shareholder seeks creditor protection 20 Jul 2014 - 01:31 am

LISBON: One of the holding companies of Portugal’s Espirito Santo banking clan filed for creditor protection in Luxembourg and the business empire’s problems...

Citi has $280m in loans in China ports at centre of metals probe 20 Jul 2014 - 01:31 am

NEW YORK: Citigroup Inc has about $280m in loans tied to commodities in two Chinese ports which are at the centre of a...

Concerns mount over India’s stance on global trade pact 20 Jul 2014 - 01:29 am

SYDNEY: Eleventh hour negotiations to win Indian approval for a breakthrough global trade pact may not have succeeded in the end despite initial...

Single-message app ‘Yo’ is what’s up with US investors 20 Jul 2014 - 01:29 am

SAN FRANCISCO: A messaging app that allows users to send the word “Yo” to friends has discovered newfound fame and fortune. San Francisco-based...

Lagarde urges ECB to maintain flexible policy to spur growth 20 Jul 2014 - 01:28 am

PARIS: IMF chief Christine Lagarde warned that low inflation could damage growth in Europe and urged the European Central Bank to maintain a...

Starbucks opens first Colombia store 20 Jul 2014 - 01:27 am

BOGOTA: US chain Starbucks opened its first cafe in Colombia — a world famous coffee exporter — apparently unafraid it will be like...

Bing offers to ‘forget’ links in Europe searches 20 Jul 2014 - 01:26 am

SAN FRANCISCO: Microsoft followed in Google’s footsteps by letting people in Europe ask to have links related to them ‘forgotten’ on its search...

European markets mixed as global tension swells 19 Jul 2014 - 07:23 am

Traders work on the floor of the New York Stock Exchange yesterday. NEW YORK/london: European stock markets closed with mixed results yesterday, as...

Danone enters East Africa market 19 Jul 2014 - 07:22 am

A boy looks at Brookside dairy milk products displayed on a shelf inside the Nakumatt Lifestyle supermarket in Kenya’s capital Nairobi yesterday. French...

Shell pulls out of Block-D after dry well 19 Jul 2014 - 07:21 am

DOHA/MILAN/LONDON: Royal Dutch Shell has abandoned plans to explore for gas in Qatar’s Block D after recent drilling failed to turn up commercial...

Oman plans Bulgarian bank rescue 19 Jul 2014 - 07:19 am

SOFIA: Bulgarian finance ministry officials held talks yesterday with Oman’s sovereign wealth fund on the chances of recapitalising the fourth-largest Bulgarian bank, CCB,...