Business

Solar thermal power 15 Feb 2014 - 12:05 am

Heliostats (mirrors that track the sun and reflect the sunlight onto a central receiving point) are shown during a tour of the Ivanpah...

DIP sukuk terms may trigger more issues 15 Feb 2014 - 12:03 am

LONDON: A well-timed launch saw Dubai Investments Park achieve favourable terms on its debut $300m, 4.296 percent five-year Reg S sukuk issue, a...

Toyota recalls more than 261,000 vehicles in US 15 Feb 2014 - 12:02 am

DETROIT: Toyota Motor Corp is recalling 261,114 Lexus and Toyota brand vehicles in the United States because various safety systems, including stability control...

Shell plans to sell three assets in British North Sea 15 Feb 2014 - 12:02 am

LONDON: Royal Dutch Shell plans to put three oil and gas assets in the North Sea up for sale, as it seeks to...

Eurozone economy inching towards modest recovery 15 Feb 2014 - 12:02 am

BRUSSELS: The eurozone economy showed yesterday enough of improvement in the fourth quarter to suggest a modest recovery remains on track but problems...

UK struggles to extract remaining North Sea oil 15 Feb 2014 - 12:01 am

LONDON: Britain is likely to have to ditch its hands-off approach to the oil industry for a mix of regulation, tax breaks and...

French economy grows 0.3 percent in 2013 15 Feb 2014 - 12:01 am

PARIS: The French economy turned in slightly firmer growth than expected last year, expanding by 0.3 percent, but undershot in the final quarter...

India inflation drops to 8-month low in December 15 Feb 2014 - 12:00 am

NEW DELHI: India’s inflation fell to an eight-month low in December due to easing food prices, data showed yesterday, providing some good news...

Comcast to buy Time Warner Cable for $45.2bn 14 Feb 2014 - 07:17 am

People in front of the Time Warner Center in New York City yesterday. NEW YORK: Comcast unveiled plans yesterday to swallow up Time...

Lloyds ready for privatisation 14 Feb 2014 - 07:16 am

A woman walks past a branch of Lloyds Bank in central London yesterday. State-backed Lloyds Banking Group said it was ready to return...

Embraer gets $2.94bn Air Costa order 14 Feb 2014 - 07:16 am

Ramesh Lingamaneni (left), Executive Director of LEPL Group and Chairman of Air Costa, and Paulo Cesar Silva, President and CEO of Embraer Commercial...

Renault profits plunge 14 Feb 2014 - 07:15 am

Carlos Ghosn (right), Chairman and Chief Executive Officer of Renault-Nissan Alliance, and Renault Chief Financial Officer Dominique Thormann at the company headquarters in...

Iran asks India for $1.5bn in oil payments 14 Feb 2014 - 07:14 am

NEW DELHI: Iran has asked India for $1.5bn in back oil payments under the nuclear deal that provides Tehran some relief from Western...

Oman may sell assets, borrow if oil prices dip 14 Feb 2014 - 07:14 am

DUBAI: Oman may have to start selling foreign assets or borrow on international markets in coming years if government spending rises during a...

IEA raises demand forecast, asks Opec to skip output drop 14 Feb 2014 - 07:13 am

PARIS: World oil markets are unexpectedly tight as growth in advanced economies picks up, the International Energy Agency (IEA) warned yesterday, urging Opec...

Bridgestone fined $425m for price fixing 14 Feb 2014 - 07:13 am

WASHINGTON: The US Justice Department hit Japanese tyre and rubber parts giant Bridgestone with a $425m fine yesterday for conspiring to fix the...

OECD for sharing details of offshore accounts 14 Feb 2014 - 07:13 am

PARIS: Governments would automatically share information on taxpayers’ offshore bank and brokerage accounts with foreign tax authorities, under a draft agreement published yesterday...

Pakistan’s MCB to take 55pc stake in Burj Bank 14 Feb 2014 - 07:12 am

Islamabad: Pakistan’s MCB Bank will take a 55 percent stake in Islamic lender Burj Bank, alongside an additional investment by the private sector...