Business

Al Rayyan Tourism buys St Regis Bal Harbour Resort for $213m 23 Jan 2014 - 08:37 am

Officials during the signing ceremony. Doha: Al Rayyan Tourism Investment Company (ARTIC), the international subsidiary of Al Faisal Holding Company yesterday acquired St....

AM Best upgrades QGIRC’s credit rating and financial strength 23 Jan 2014 - 08:30 am

DOHA: A M Best Europe has upgraded the financial strength and the issuer credit rating of Qatar General Insurance and Reinsurance Company (QGIRC)...

Washington Auto Show 23 Jan 2014 - 08:29 am

US Secretary of Energy Ernest Moniz (centre left) tours Ford products at the Washington Auto Show at the Washington Convention Centre in Washington,...

Raiffeisen begins capital raising drive 23 Jan 2014 - 08:28 am

A bicycle bearing advertising logos of Raiffeisen Bank International (RBI) is parked opposite Burgtheater theatre in Vienna yesterday. RBI kicked off a year...

McDonald’s under tax watch 23 Jan 2014 - 08:27 am

A Metro underground entrance in front of a McDonald’s fast-food restaurant in Paris yesterday. McDonald’s France has confirmed tax inspectors visited its local...

MAF to invest $2.3bn in Egypt retail 23 Jan 2014 - 08:12 am

DAVOS, Switzerland: Dubai retailer Majid Al Futtaim, which holds the Carrefour franchise in the Middle East, plans to invest about $2.3bn in Egypt...

NBK posts $844m net profit 23 Jan 2014 - 08:10 am

Doha: National Bank of Kuwait (NBK), the largest Kuwaiti bank, reported net profits of $844m (KD238.1m) for the year 2013 compared with $1,082m...

HDFC faces tough battle as Indian banks push home loans 23 Jan 2014 - 08:05 am

MUMBAI: Indian mortgage lender Housing Development Finance Corp Ltd (HDFC), loved by global investors for its steady profit growth, faces an intensifying battle...

BoJ stands pat on easing, says winning deflation battle 23 Jan 2014 - 08:05 am

TOKYO: The head of the Bank of Japan yesterday said its monetary easing blitz was winning the war on deflation as policymakers held...

Qatar to lead GCC full-year earnings 23 Jan 2014 - 08:04 am

DOHA: Supported strongly by Qatar, the full-year earnings of GCC is estimated at 12 percent in 2014. The real estate sector, underpinned by...

Emirates Steel seeks $1.3bn loan to help refinance debt 23 Jan 2014 - 08:04 am

DUBAI/ABU DHABI: Abu Dhabi’s Emirates Steel is in talks with banks for a $1.3bn loan to help refinance an existing facility and raise...

Europe now an ‘emerging country’, Davos hears 23 Jan 2014 - 07:46 am

DAVOS: Top bosses and economists warned the global elite yesterday not to get over-excited by a gradual economic upturn in Europe, which one...

BAE makes progress on Saudi Eurofighter deal 23 Jan 2014 - 07:45 am

LONDON/DAVOS: Defence company BAE Systems said it was making progress on a deal with Saudi Arabia over the pricing for Eurofighter jets and...

British economic recovery gets boost as unemployment rate falls 23 Jan 2014 - 07:34 am

LONDON: Britain’s economic recovery won further traction yesterday as official data revealed a faster-than-expected drop in unemployment alongside a reduction of the country’s...

Oil prices strike two-week peak on demand 23 Jan 2014 - 07:33 am

LONDON: Global oil prices struck two-week highs yesterday, with the market buoyed by forecasts of stronger crude demand, analysts said. New York’s main...

Subway to add 13,000 jobs 23 Jan 2014 - 12:17 am

A man walks past a Subway sandwich store in central London yesterday. Subway, one of the largest fast-food chains in the world, plans...

Banking shares push QE index up 0.29pc 23 Jan 2014 - 12:15 am

Doha: Qatar Exchange pursued its upswing trend yesterday adding 32.22 points, or 0.29 percent, to advance to 11,179.61 points from 11,147.39 on Tuesday....

Canada keeps key lending rate at 1pc 23 Jan 2014 - 12:15 am

OTTAWA: The Bank of Canada kept its key lending rate at one percent yesterday, as inflation drops further below its two percent target....