Business

Oil reaches $108, IEA says demand to accelerate 21 Jan 2014 - 11:54 pm

LONDON: Oil rose to touch $108 a barrel yesterday after the International Energy Agency (IEA) raised its forecast for global oil demand this...

IMF raises global growth forecast 21 Jan 2014 - 11:53 pm

WASHINGTON: The International Monetary Fund raised its global growth forecast for the first time in nearly two years yesterday, saying fading economic headwinds...

Pakistan forecasts robust growth 21 Jan 2014 - 11:39 pm

Pakistani labourers prepare a steel pillar at a construction site in Lahore yesterday. Pakistan’s central bank estimated economic growth for the current fiscal...

Alstom orders fall 21 Jan 2014 - 11:38 pm

The logo of French power and transport engineering company Alstom on a wall of the company’s plant in Reichshoffen near Haguenau, North Eastern...

Qatari bourse index adds 75.26 points 21 Jan 2014 - 11:37 pm

Doha: Qatar Exchange index added 75.26 points, or 0.68 percent, to advance to 11,147.39 points from 11,072.13 on Monday. The volume of the...

EBRD cuts Turkey growth forecast 21 Jan 2014 - 11:37 pm

LONDON: The European Bank for Reconstruction and Development yesterday cut its economic growth forecast for Turkey, blaming the impact of a deep political...

Spain regains world No 3 spot for tourists: PM 21 Jan 2014 - 11:36 pm

MADRID: Spain announced yesterday it has retaken the number three spot in world tourism in 2013, overtaking China by luring a record 60.6...

Hollande ties business tax relief to investment 21 Jan 2014 - 11:36 pm

PARIS: President Francois Hollande yeserday tied a promise to ease the tax burden on French companies to their readiness to invest in France...

Bank Sohar Q4 net profit climbs 20.5pc 21 Jan 2014 - 11:35 pm

DUBAI: Oman’s Bank Sohar, currently in talks with rival lender Bank Dhofar over a possible merger, posted a 20.5 percent increase in fourth-quarter...

Novartis to cut 500 jobs 21 Jan 2014 - 11:34 pm

The logo of Swiss drugmaker Novartis at its headquarters in Basel. Novartis expects to cut up to 500 jobs in its pharmaceuticals division,...

South Korean credit firms in trouble 21 Jan 2014 - 11:32 pm

A customer talks on the phone behind the logo of KB Kookmin Financial Group at a branch of the bank in Seoul yesterday....

China’s Iran crude imports fall 2.2pc 21 Jan 2014 - 11:30 pm

BEIJING: China’s daily Iranian crude oil imports fell 2.2 percent to 428,840 barrels per day in 2013, a smaller-than-expected drop than previously forecast...

Oman’s first takaful firm takes shape 21 Jan 2014 - 11:29 pm

Muscat: Oman has seen the birth of its first Islamic insurance (takaful) firm as two others prepare to enter the market, hoping to...

Fiat completes buyout of Chrysler 21 Jan 2014 - 11:19 pm

MILAN: Fiat has completed its buyout of Chrysler, making the US business a wholly-owned subsidiary of the Italian carmaker as it gears up...

Hungary cuts base interest rate to record low of 2.85pc 21 Jan 2014 - 11:18 pm

BUDAPEST: Hungary’s central bank (MNB) cut its main interest rate to a record low level of 2.85 percent from three percent, yesterday. The...

LNG will continue to replace coal and oil: GECF official 21 Jan 2014 - 10:36 am

BY MOHAMMAD SHOEB DOHA: As a result of growing environmental concerns, the share of liquefied natural gas (LNG) in the global energy mix...

Doha Bank nets QR1.31bn profit 21 Jan 2014 - 10:35 am

DOHA: Doha Bank’s net profit for the full year 2013 reached QR1.31bn, up 0.6 percent, compared to QR1.30bn recorded a year ago. Announcing ...

Future lies in technology, say energy industry captains 21 Jan 2014 - 10:34 am

Bo Qiliang (left), Vice-President, PetroChina, and Amin H Nasser, Senior Vice-President, Upstream, Saudi Aramco. By Satish Kanady DOHA: The future of energy industry...