Business

DP World to issue $1bn convertible bond offering 13 Jun 2014 - 09:12 am

DUBAI: DP World plans to raise $1bn with a convertible bond issue of 10 years duration to fund growth opportunities and diversify its...

OFID’s development plan will be ready next year 13 Jun 2014 - 04:48 am

Officials at the opening of the OFID’s 35th Session of the Ministerial Council in Doha yesterday. DOHA: H E Ali Shareef Al Emadi,...

No change in oil output ceiling 12 Jun 2014 - 04:52 am

VIENNA: Opec, the oil exporters’ cartel, opted yesterday to keep its output ceiling unchanged, expressing confidence in the market despite global supply strains...

GDI wins QR1.1bn QP contracts 12 Jun 2014 - 04:51 am

DOHA: Gulf Drilling International Ltd QSC (GDI), a wholly-owned subsidiary of Gulf International Services (GIS), has been awarded two new contracts by Qatar...

Qatar has most dense population of millionaires in the world 12 Jun 2014 - 04:50 am

WASHINGTON: The amount of private wealth in the booming Asia-Pacific region excluding Japan will overtake Europe this year and the United States 2018,...

Emirates cancels 70-plane A350 order worth $16bn 12 Jun 2014 - 04:49 am

TOULOUSE: Airbus suffered what could be the jet industry’s worst cancellation and a setback to its newest aircraft yesterday when Dubai’s Emirates scrapped...

Alibaba to buy out UCWeb 12 Jun 2014 - 04:49 am

Italian Prime Minister Matteo Renzi (centre) talks with Chinese Premier Li Keqiang (second right) as Alibaba CEO Ma Yun (second left) attends a...

Weaker yen pushes prices up 12 Jun 2014 - 04:48 am

Customers shop at Japan’s casual apparel giant Uniqlo in Tokyo yesterday. The operator of cheap chic clothing brand Uniqlo, whose affordable garments have...

Toyota recalls 2.27m vehicles over airbags 12 Jun 2014 - 04:46 am

TOKYO: Toyota yesterday recalled 2.27 million vehicles globally over a defect that could see airbags fail to deploy in a crash and also...

EU takes on Starbucks, Apple tax break 12 Jun 2014 - 04:46 am

BRUSSELS: The European Union launched a probe yesterday to determine whether the special tax deals offered to Apple and Starbucks by authorities in...

Growth flat for developing countries: WB 12 Jun 2014 - 04:46 am

WASHINGTON: The World Bank lowered its 2014 growth forecasts for the global economy, but said advanced economies’ rebound from a rough start would...

Mitsubishi, Siemens to bid Alstom jointly 12 Jun 2014 - 04:45 am

FRANKFURT: German engineering giant Siemens is working on a joint bid with Mitsubishi Heavy Industries (MHI) for the energy assets of French group...

No deal at Russia, Ukraine gas talks 12 Jun 2014 - 04:45 am

BRUSSELS: EU-brokered talks with Russia and Ukraine finished yesterday without an accord as Kiev dug in over how to fix a gas price...

GOIC, Turkish International Coop Platform sign MoU 12 Jun 2014 - 04:44 am

DOHA: The Gulf Organisation for Industrial Consulting (GOIC) yesterday signed a memorandum of understanding (MoU) with the Turkish International Cooperation Platform (ICP) to...

Zara owner reports rare fall in profit 12 Jun 2014 - 04:44 am

MADRID: Spanish global clothing giant Inditex, owner of fast-fashion brand Zara, announced yesterday a rare fall in quarterly profits even as it pushed...

UAE faces risks in property sector: IMF 12 Jun 2014 - 04:44 am

DUBAI: The United Arab Emirates is likely to cut its fiscal spending further in 2014 as the oil and real estate-powered economy is...

Etisalat tightens pricing of debut bond offering 12 Jun 2014 - 04:43 am

DUBAI: Abu Dhabi-based telecoms operator Etisalat has tightened price guidance across all four tranches of its planned debut bond issue, a document from...

Eurozone jobless rate far higher than advanced countries 12 Jun 2014 - 04:43 am

PARIS: Eurozone unemployment is still far higher than the average rate across advanced countries, the OECD said yesterday just as Britain reported another...