Business

Ireland launches austerity budget 16 Oct 2013 - 02:16 am

DUBLIN: Ireland launched its seventh successive austerity budget yesterday, paving the way for the eurozone nation’s exit from an international bailout programme in...

Sri Lanka cuts lending rates by 50 basis points 16 Oct 2013 - 02:15 am

COLOMBO: Sri Lanka’s central bank yesterday cut benchmark lending rates by 50 basis points, saying the move was aimed at encouraging growth despite...

UK inflation fails to slow, house prices jump 16 Oct 2013 - 02:15 am

LONDON: British inflation was higher than expected in September and house prices posted their biggest rise in almost three years in August, adding...

TCS profit jumps by 34pc in second quarter 16 Oct 2013 - 02:14 am

MUMBAI: India’s biggest IT outsourcing firm, Tata Consultancy Services, yesterday reported a 34 percent jump in quarterly net profit, beating market forecasts, led...

Tim Cook brings in Burberry boss to restore Apple’s shine 16 Oct 2013 - 02:14 am

LONDON: Burberry CEO Angela Ahrendts rebuilt the brand after over-exposure of its trademark pattern alienated wealthy clientele. Her approach: To embrace digital innovation,...

European stocks buoyed by US debt hopes 16 Oct 2013 - 01:15 am

Traders work on the floor of the New York Stock Exchange yesterday. Media reports state that US stocks rose on confidence that a...

Asian growth ‘changing’ energy sector 16 Oct 2013 - 01:14 am

DAEGU: From oil to nuclear power, via gas, coal and renewables, Asia’s economic growth is increasingly steering the forward path of the global...

Air France-KLM undecided over Alitalia cash 16 Oct 2013 - 01:13 am

MILAN/PARIS: A source close to Alitalia’s biggest investor, Air France-KLM, said it was “50-50” whether it would participate in an emergency share issue...

S Korea’s Sept Iran oil imports more than double 16 Oct 2013 - 01:13 am

SEOUL: South Korea’s Iranian crude oil imports more than doubled in September from August, but its intake levels remain close to the target...

Citigroup results hit by bond trading slowdown 16 Oct 2013 - 01:13 am

NEW YORK: Citigroup Inc posted weaker-than-expected third-quarter earnings yesterday as weak bond market trading volume hurt revenue at the No. 3 US bank...

Meed meet to discuss $225bn rail projects 15 Oct 2013 - 01:41 am

DOHA: Opportunities in the Middle East & North Africa (Mena) region’s $225bn rail, metro, tram and bus rapid transit (BRT) capital investment programme...

China’s urban complex 15 Oct 2013 - 01:40 am

A worker cleans an exterior of a newly built urban complex building accommodating offices and retail shops in Beijing yesterday.

EU ministers meet on US debt warnings 15 Oct 2013 - 01:38 am

LUXEMBOURG: EU finance ministers were warned yesterday of the “dramatic consequences” a US debt default could have as they discussed how to prevent...

ECB shoots down Greek bond plan 15 Oct 2013 - 01:38 am

ATHENS: Greece floated yesterday a proposal to roll over ¤4.5bn ($6.1bn) in debt next year fill a budget gap that has sparked concern...

Energy meet highlights demand challenge 15 Oct 2013 - 01:37 am

DAEGU, South Korea: The challenge of providing sustainable energy to a growing global population at a minimal environmental impact dominated debate at the...

US oil higher on hopes of budget solution 15 Oct 2013 - 01:37 am

NEW YORK: US oil prices were higher yesterday as traders covered short positions in the event that US politicians reach a deal to...

Onion prices send India inflation to 7-month high 15 Oct 2013 - 01:35 am

A trader counts money as he deals in onions at a wholesale market yard in Hyderabad. MUMBAI: A four-fold surge in the cost...

Alitalia capital hike 15 Oct 2013 - 01:33 am

An Alitalia worker walks at Fiumicino international airport in Rome yesterday. Shareholders of Alitalia were to vote on a $407m capital increase to...