Business

UK retailers report record price drop since 2006 10 Jul 2014 - 12:18 am

LONDON: British retailers saw the biggest annual decline in prices since at least 2006 in June, with cheaper furniture, electricals and clothes as...

QNB net profit jumps 7pc in first half 09 Jul 2014 - 05:23 am

DOHA: QNB Group, the region’s biggest lender, recorded a net profit of QR5.1bn for the first six months ended June 30, 2014. The...

Total warns against new Berlin Wall with Russia 09 Jul 2014 - 05:22 am

PARIS: Europe should stop thinking about cutting its dependence on Russian gas and focus instead on making those deliveries safer, including options to...

News Corp celebrates 125th anniversary of WSJ 09 Jul 2014 - 05:20 am

Employees of News Corp celebrate at the opening bell of the Nasdaq stock exchange yesterday in New York City. The Wall Street Journal,...

Audi to beat last year’s sales 09 Jul 2014 - 05:17 am

Audi Chief Executive Officer Rupert Stadler with the Audi A3 Cabriolet. Audi expects to “significantly” beat last year’s global sales figure, Stadler said,...

Food prices soar in US 09 Jul 2014 - 05:11 am

People shop in a grocery store yesterday in Miami, Florida. According to reports, food prices have risen significantly, with ground beef rising 10.4...

Sharjah plans its maiden sukuk 09 Jul 2014 - 02:48 am

LONDON: The emirate of Sharjah is planning its first foray into international bond markets with a debut sukuk deal, three bankers with knowledge...

Qatar stocks up as earning season starts 09 Jul 2014 - 02:47 am

DOHA: Qatar Exchange (QE) index climbed 1.35 percent yesterday as the second quarter earnings officially started trickling in. The index closed at 12,549...

India, UAE talk strategic oil storage lease 09 Jul 2014 - 12:13 am

NEW DELHI: India is in talks to lease part of its planned strategic storage to United Arab Emirates’ state oil company ADNOC, two...

Emaar Properties faces oversupply risks: Moody’s 09 Jul 2014 - 12:13 am

DUBAI: Dubai’s Emaar Properties faces a risk of oversupply in the emirate’s real estate market, ratings agency Moody’s said in a report yesterday,...

Dubai Holding needs $6.8bn for mega-mall 09 Jul 2014 - 12:12 am

DUBAI: Dubai Holding, the investment vehicle of the emirate’s ruler, will need Dh25bn ($6.8bn) to build an entertainment district that will include the...

Ford recalls 100,000 cars 09 Jul 2014 - 12:12 am

NEW YORK: Ford recalled more than 100,000 cars of various models in the US, the latest in a surge of recalls in the...

AbbVie hikes bid for Shire to $51.3bn 09 Jul 2014 - 12:12 am

LONDON: US drugmaker AbbVie raised its offer for Shire to £30.1bn ($51.3bn) yesterday, hoping to win over its reluctant target after three earlier...

GM to invest $740m in new Argentina plant 09 Jul 2014 - 12:11 am

BUENOS AIRES: General Motors will invest $740m in Argentina through 2016 on its first South American factory turning out aluminum motors. The announcement...

Argentina seeks stay on US debt ruling 09 Jul 2014 - 12:11 am

NEW YORK/BUENOS AIRES: Argentina’s economy minister told a mediator in the country’s dispute with holdout investors that the US court ruling against the...

Libya reopens El Sharara oilfield after 4-month stir 09 Jul 2014 - 12:11 am

TRIPOLI: Libya’s oil sector took another big step back to normality with the restarting of an oilfield that could double its current meagre...

Samsung flags 25pc plunge in Q2 profit 08 Jul 2014 - 11:32 pm

SEOUL: Samsung estimated yesterday that its operating profit would plunge nearly 25 percent on year in the second quarter of 2014, as cheap...

M&S blames website for sales fall 08 Jul 2014 - 11:18 pm

LONDON: British retailer Marks & Spencer reported its 12th straight quarterly fall in its clothing, footwear and homeware division yesterday, hurt by the...