Business

Oil firms review Gunvor trade after US sanctions 22 Mar 2014 - 06:54 am

LONDON: Oil companies are reviewing their dealings with Russian energy trader Gunvor but have not yet altered their business links, industry sources said...

ABN Amro prepares to re-list 22 Mar 2014 - 06:53 am

AMSTERDAM: As reconstructed Dutch bank ABN Amro prepares to go back to the stock market, the bailed-out lender’s modest new profile appears to...

UK borrowing dips by 4.3 percent 22 Mar 2014 - 06:52 am

LONDON: Britain’s public finances showed an underlying improvement in February compared to a year earlier, but the gain may not be enough to...

US Congress probe puts GM under scrutiny 22 Mar 2014 - 06:52 am

WASHINGTON: The U S congressional investigation into General Motors Co automobile defects will bring aggressive scrutiny to a company with powerful lobbying clout...

Toyota to lift lockout at Indian plants after unrest 22 Mar 2014 - 06:52 am

BANGALORE: Toyota said that it would lift a lockout next week on its Indian assembly plants after a meeting with labour groups and...

Austrian bank Hypo needs another $2bn emergency aid 22 Mar 2014 - 06:51 am

FRANKFURT/VIENNA: Nationalised Austrian lender Hypo Alpe Adria Bank International AG asked the government yesterday for another ¤1.43bn ($2bn) in emergency funds to cover...

Fed chair Yellen’s first FOMC statement annotated 22 Mar 2014 - 06:49 am

BY Felix Salmon Information received since the Federal Open Market Committee met in January indicates that growth in economic activity slowed during the...

Egyptian court sentences 17 to long jail terms for protests 22 Mar 2014 - 06:47 am

Policemen use tear gas to disperse protesters during clashes with supporters of former Islamist president Mohamed Mursi, who was overthrown by the army,...

Qatar to carry on LNG supply to Europe: Attiyah 22 Mar 2014 - 05:11 am

Brussels: Many European countries are suffering negative economic conjuncture and high unemployment and, therefore, may begin to change approach to energy security in...

Mideast aviation sector to post $2.2bn profits 20 Mar 2014 - 10:50 pm

BY MOHAMMAD SHOEB DOHA: With an anticipated passenger traffic growth of over 11 percent, the Middle East’s aviation industry is expected to register...

Hitachi to move rail headquarters to UK 20 Mar 2014 - 10:50 pm

Hitachi’s High Speed trains at St Pancras International station in London, yesterday. The Japanese firm announced that it is to move its global...

Caterpillar rejigs sales plan 20 Mar 2014 - 10:49 pm

Workers walk past Caterpillar excavator machines at a factory in Gosselies. Caterpillar, which is in a hunt for new revenue because of weakness...

New Swatch on display 20 Mar 2014 - 10:48 pm

Swatch Group Chief Executive Nick Hayek Jr (right) shows a new Swatch model to his sister Nayla Hayek, Group Chair of the Board,...

Deutsche restates 2013 figures after Kirch deal 20 Mar 2014 - 10:46 pm

FRANKFURT: Deutsche Bank, Germany’s largest lender, said yesterday that it was revising down its 2013 earnings to reflect the recent settlement of a...

Saib picks Riyad arm to arrange sukuk 20 Mar 2014 - 10:42 pm

DUBAI: Saudi Investment Bank (Saib) has picked the investment banking arm of Riyad Bank to arrange a subordinated Islamic bond issue, banking sources...

DP World’s annual revenue, volumes fall 20 Mar 2014 - 10:41 pm

DUBAI: Dubai-owned port operator DP World said domestic capacity constraints and tough market conditions were to blame after it reported declines in annual...

Kuwait may delay company rules 20 Mar 2014 - 10:39 pm

KUWAIT: Kuwait’s market watchdog may extend a year-end deadline for listed companies to comply with new corporate governance rules if it finds there...

Market share of Marks & Spencer down in UK 20 Mar 2014 - 10:38 pm

LONDON: Marks & Spencer, Britain’s biggest clothing retailer, lost market share over the last three months, industry data showed yesterday, reversing a small...