Business

Microsoft ramps up protection for Outlook email 02 Jul 2014 - 02:00 am

SAN FRANCISCO: Microsoft yesterday said it is scrambling Outlook email messages in transit to thwart spying by governments or others. Toughened encryption at...

Swiss, Chinese ink trade deal 02 Jul 2014 - 01:59 am

BASEL: A watershed free-trade deal between China and Switzerland came into force yesterday, the first such accord between the Asian giant and a...

Goldman Sachs fined over trade rule violations 02 Jul 2014 - 01:59 am

WASHINGTON: Wall Street’s self-funded regulator fined a unit of Goldman Sachs yesterday over pricing rule violations stemming from its “dark pool,” marking the...

Vatican bank’s head to quit as shake-up bites 02 Jul 2014 - 01:59 am

VATICAN CITY: The Vatican bank’s chairman is to step down as soon as next week as part of the restructuring of an institution...

US auto sales keep up strong pace 02 Jul 2014 - 01:58 am

DETROIT: Major carmakers reported better-than-expected US sales in June, capping a strong second-quarter comeback from a brutal winter, but some companies displayed signs...

Samsung finds labour violations at suppliers 02 Jul 2014 - 01:58 am

London: Samsung says that an external audit found labour violations at dozens of its suppliers in China, including failure to provide safety gear...

Asian manufacturing picks up, exports flat 02 Jul 2014 - 01:57 am

BEIJING/TOKYO: Manufacturing activity in Asia’s industrial powerhouses China and Japan gained pace in June, fuelled mainly by improving demand at home, but a...

Greece’s OTE plans Forthnet’s pay TV unit buy 02 Jul 2014 - 01:56 am

ATHENS: Greek telecoms company OTE said it had submitted a non-binding offer of €250m to €300m to acquire rival Forthnet’s pay TV operations....

Argentina, US teams to meet on debt 02 Jul 2014 - 01:56 am

BUENOS AIRES: Argentina announced it was sending a delegation to New York to meet with a coordinator picked by the US judge in...

Eurozone manufacturing eases, France slowdown weighs 02 Jul 2014 - 01:55 am

LONDON: Eurozone manufacturing growth eased slightly more than previously thought last month and factories fulfilled existing orders to keep busy, a business survey...

Ma’aden signs $5bn financing for phosphate scheme 02 Jul 2014 - 01:54 am

DOHA: Saudi Arabian Mining Co (Ma’aden) has signed a $5bn financing deal with commercial banks and a state-owned investment fund to back its...

South Africa metal workers strike 01 Jul 2014 - 11:59 pm

Members of the National Union of Metal Workers of South Africa protest on the streets of Durban yesterday. More than 220,000 South African...

Indian factory activity expands 01 Jul 2014 - 11:58 pm

A worker carries steel buckets inside a steel utensil manufacturing factory in Ahmedabad yesterday. Indian factory activity expanded in June at its quickest...

Curbs bring Russia growth to standstill 01 Jul 2014 - 11:57 pm

ST PETERSBURG: Sanctions imposed on Russia over Ukraine have brought growth to a standstill, had a “chilling effect” on investment and could force...

Renminbi still undervalued: US Treasury Secretary 01 Jul 2014 - 11:55 pm

WASHINGTON: US Treasury Secretary Jacob Lew yesterday said China’s yuan currency remains undervalued, a longstanding sore point that will be raised at next...

Iran oil exports drop, stay above Western limits 01 Jul 2014 - 11:55 pm

LONDON: Iran’s crude oil exports dropped in June after a spike in May, yet sales were still above the level allowed by an...

Egypt imposes 10pc tax on capital gains, dividends 01 Jul 2014 - 11:54 pm

CAIRO: Egypt’s president approved a law yesterday imposing a new 10 percent tax on capital gains and stock dividends as the country seeks...

Putin takes stock 01 Jul 2014 - 10:11 am

Russia’s President Vladimir Putin (left) and Russian Central Bank Chairman Elvira Nabiullina meet in the Kremlin in Moscow, yesterday. Russia’s central bank said...