Business

Turks hoard dollars fearing lira rout 31 Jan 2014 - 11:35 pm

ISTANBUL: Turkish households and firms are hoarding dollars, suggesting they have little faith the lira will be spared a further emerging markets sell-off...

Lower zinc output hurts Vedanta’s revenue 31 Jan 2014 - 11:35 pm

Bangalore: London-listed mining and oil company Vedanta Resources Plc’s third-quarter revenue fell three percent as an unplanned shutdown at its international zinc unit...

Indian small cars fail crash test: Safety body 31 Jan 2014 - 11:34 pm

NEW DELHI: The Tata Nano, billed as the world’s cheapest car, and a host of other top-selling small models from India have failed...

Electrolux ends tough 2013 with big Q4 loss 31 Jan 2014 - 11:34 pm

STOCKHOLM: Swedish home appliance maker Electrolux posted yesterday fourth-quarter losses far beyond analysts’ expectations owing to weak demand in European markets. Quarterly figures...

Mideast funds to raise weightings in Qatar 31 Jan 2014 - 06:15 am

DUBAI: Middle East-based investment funds have become much more bullish on Qatar’s stock market, citing heavy government spending and attractive valuations, the latest...

Shell cancels oil exploration plan off Alaska 31 Jan 2014 - 06:14 am

A file picture of a Shell petrol station in central London. LONDON: Anglo-Dutch oil company Royal Dutch Shell plans to sell assets, cut...

Tablet sales jump 31 Jan 2014 - 06:13 am

A file picture shows Apple’s new iPad Air (left) and iPad Mini tablets in San Francisco. Global sales of tablet computers surged 50.6...

Ooredoo, Telenor hail Myanmar telecom licence deal as milestone 31 Jan 2014 - 06:12 am

YANGON: Norway’s Telenor and Qatari firm Ooredoo yesterday hailed a “milestone” for Myanmar after finalising telecoms licences expected to dramatically increase mobile phone...

US growth data brings reprieve to markets 31 Jan 2014 - 06:11 am

LONDON: Strong US growth figures brought a reprieve to the markets yesterday after a further stimulus cut by the Federal Reserve rattled emerging...

Turkey rules out capital controls 31 Jan 2014 - 06:11 am

ANKARA: Turkey ruled out capital controls yesterday as it battles to defend the lira and tame inflation, leaving investors guessing as to what...

MasterCard suffers setback 31 Jan 2014 - 06:10 am

LUXEMBOURG: MasterCard’s five-year battle to keep multi-billion-euro cross-border card fees was dealt a blow yesterday when an adviser to Europe’s top court backed...

Iraq hires law firm to target buyers of ‘illegal’ Kurdish crude oil 31 Jan 2014 - 06:10 am

LONDON: The Iraqi government has hired a law firm to target any buyer of what it considers illegally exported Kurdish crude oil, a...

IMF warns against property bubble in UAE 31 Jan 2014 - 06:10 am

DUBAI: The International Monetary Fund has raised its 2014 economic growth forecast for the United Arab Emirates to 4.5 percent but warned of...

Saudi, Abu Dhabi bourses rise 31 Jan 2014 - 06:09 am

DUBAI: Saudi Arabia and Abu Dhabi bourses bucked a downbeat Gulf trend as earnings and dividend disclosures lured buyers, while other markets tracked...

ExxonMobil profits fall 31 Jan 2014 - 06:09 am

NEW YORK: US oil giant ExxonMobil yesterday reported a drop in quarterly earnings due to lower oil and gas production and much weaker...

Correction pushes Qatari stocks down 31 Jan 2014 - 02:44 am

Rashid Al Mansouri, CEO of Qatar Exchange. DOHA: A correction pushed Qatari stocks down yesterday, with stock analysts suggesting that the successful completion...

Qatari banks focus on debt securities 30 Jan 2014 - 09:15 am

By Satish Kanady DOHA: Qatari banks are increasingly reducing their reliance on the short-term interbank funds and focusing more on issuance of debt...

Whirlpool ties up with Tadmur for home appliance distribution 30 Jan 2014 - 09:10 am

From left: The General Manager of Tadmur Trading, Raed Halawa, General Manager for Middle and Africa (MEA), Whirlpool Corporation, Lorenzo Milani; Senior Commercial...