Business

Kahramaa to launch desalination plants 15 Jun 2014 - 01:34 am

DOHA: Qatar General Electricity and Water Corporation (Kahramaa) is set to launch to giant desalination plants. The first plant, with a production capacity...

Qnbn and MEEZA sign agreement 15 Jun 2014 - 01:34 am

DOHA: Qatar National Broadband Network (Qnbn) has signed a strategic partnership agreement with MEEZA, a Qatar Foundation joint venture and leading provider of...

Siemens, Mitsubishi finalise Alstom plan 15 Jun 2014 - 01:33 am

MUNICH/PARIS: Germany’s Siemens and Japan’s Mitsubishi Heavy Industries are putting the finishing touches on a joint offer for Alstom’s turbine businesses that includes...

US seeks $10bn from Citi 15 Jun 2014 - 01:32 am

NEW YORK: The Justice Department has asked Citigroup for more than $10bn to settle claims the bank misled investors on mortgage-backed bonds sold...

Spain to sell 49pc of airport operator 15 Jun 2014 - 01:32 am

MADRID: Spain announced it will sell a 49-percent stake in state-owned airport operator AENA, taking advantage of a renewed optimism on financial markets...

Yemen inflation rebounds, central bank reserves sink 15 Jun 2014 - 01:32 am

DUBAI: Yemen’s annual inflation rose to 7.6 percent in March, the highest this year, while central bank reserves continued to erode in April,...

Pemex under lens 15 Jun 2014 - 12:54 am

Emilio Lozoya, CEO of Mexican state-run oil company Pemex, addresses members of the House of Representatives in Mexico City. A committee of the...

US, Australia talk trade 15 Jun 2014 - 12:53 am

FROM LEFT: US Secretary of the Treasury Jack Lew, Federal Reserve Board Chair Janet Yellen and Australia’s Prime Minister Tony Abbott at a...

China will enhance LatAm investments 15 Jun 2014 - 12:48 am

SANTA CRUZ DE LA SIERRA: China, whose presence in Latin America until now was largely based on an appetite for raw materials, is...

S&P revises Britain outlook to stable from negative 15 Jun 2014 - 12:48 am

LONDON: Standard & Poor’s lifted its outlook on Britain’s credit rating to stable from negative, citing the broad recovery and progress in consolidating...

Australia’s unemployment rate at 5.8pc 15 Jun 2014 - 12:47 am

SYDNEY: Australia’s unemployment rate remained steady at 5.8 percent for the third straight month in May, data showed last week, with the total...

SocGen sets up sukuk programme in Malaysia 15 Jun 2014 - 12:47 am

SINGAPORE: Societe Generale (SocGen), France’s third-largest bank by assets, will set up a 1bn ringgit ($311.3m) multi-currency sukuk programme in Malaysia, the second...

Another BNP executive departs under US pressure 15 Jun 2014 - 12:47 am

NEW YORK: Another top BNP Paribas executive has resigned as the French bank tries to satisfy US regulators seeking to punish it dearly...

China’s economy stabilises 14 Jun 2014 - 07:04 am

A labourer works on a crane at a construction site for a new building in Beijing, yesterday. China’s economy showed some signs of...

China scare 14 Jun 2014 - 07:04 am

A Chinese national flag in front of a GlaxoSmithKline office building in Shanghai. China’s crackdown on corruption in the pharmaceutical sector has frightened...

Japan to cut corporate tax in growth bid 14 Jun 2014 - 07:03 am

Pedestrians walk at a scramble crossing at Shibuya shopping district in Tokyo. Japan is planning to cut corporate tax, its economy minister said...

Carney signals earlier rate rise 14 Jun 2014 - 05:49 am

Bank of England Governor Mark Carney speaks at the Lord Mayor’s Dinner to the Bankers and Merchants of the City of London, as...

EU agrees curbs on biofuels from food crops 14 Jun 2014 - 03:07 am

LUXEMBOURG: EU energy ministers agreed yesterday to limit production of biofuels made from food crops, responding to criticism they stoke inflation and do...