Business

South Korea signs $5.4bn currency swap deal with UAE 14 Oct 2013 - 12:17 am

SEOUL: South Korea’s central bank said yesterday it signed a bilateral, three-year currency swap deal with the United Arab Emirates worth up to...

Fed pressed to take care with stimulus pullback 14 Oct 2013 - 12:17 am

WASHINGTON: Global finance chiefs stepped up calls for the Federal Reserve to take care in moving to cut its stimulus, as emerging countries...

CGC launches Nokia Lumia promotion 14 Oct 2013 - 12:12 am

Doha: Marking Eid Al Adha, Consolidated Gulf Company (CGC) has announced the launch of a Nokia promotion offering free 3GB mobile Internet from...

IMF and World Bank seek new legitimacy 14 Oct 2013 - 12:10 am

IMF Managing Director Christine Lagarde (right) departs with World Bank President Jim Yong Kim (left) and National Bank of Poland President Marek Belka...

Walmart divorce highlights pitfall of business in India 14 Oct 2013 - 12:09 am

NEW DELHI: The divorce between US giant Walmart and its Indian partner, the latest in a string of foreign corporate alliances to founder,...

Spanish banks fear new capital hit in EU review 14 Oct 2013 - 12:09 am

MADRID: Spanish banks are considering ways to boost their capital amid fears the eurozone’s imminent review of their balance sheets will force them...

IMF officials give Jordan some wiggle room on reforms 14 Oct 2013 - 12:09 am

WASHINGTON: International Monetary Fund officials relaxed some fiscal and other targets for Jordan under its $2bn loan programme as the country struggles to...

Putin visits Rosneft refinery 13 Oct 2013 - 11:08 pm

Russia’s President Vladimir Putin (second left) listens to Russian oil giant Rosneft Chief Executive Igor Sechin (left) as they visit a Rosneft refinery...

Hard road to world domination for China 13 Oct 2013 - 11:07 pm

BEIJING: In the global contest for business Chinese brands struggle to rival big Western and Japanese names, but some are now looking to...

Egypt’s GASC has no financing woes over wheat buys 13 Oct 2013 - 11:06 pm

CAIRO: Egypt’s main state wheat-buying entity has no financing problems for global wheat purchases and all letters of credit to suppliers have been...

G20 losing steam: Asmussen 13 Oct 2013 - 11:06 pm

WASHINGTON: Financial leaders from the Group of 20 leading economies should reduce the number of issues they tackle, agree on measurable targets and...

Bank Dhofar third quarter net profit declines 10.8pc 13 Oct 2013 - 11:05 pm

DUBAI: Bank Dhofar, currently in talks to merge with smaller rival Bank Sohar, recorded a 10.8 percent decline in third-quarter net profit, Reuters...

Weekly Commodity Update: Gold loses pep as end to US deadlock seen 13 Oct 2013 - 10:55 pm

By Ole Hansen (Head of Commodity Strategy, Saxo Bank) News from Washington that a temporary deal to avoid a technical default may be...

Shutdown hits factory floor 13 Oct 2013 - 10:51 pm

A private aircraft flies past a parked Boeing 747 Dreamlifter, used to transport assemblies of Boeing 787 Dreamliners, as it lands at Paine...

Ireland to exit EU-IMF bailout in December 13 Oct 2013 - 10:50 pm

DUBLIN: Ireland will become the first eurozone country to exit its bailout in December, Prime Minister Enda Kenny said, warning, however, there was...

China to buy 1m tonnes of Thai rice a year 13 Oct 2013 - 10:50 pm

BANGKOK: Thai Prime Minister Yingluck Shinawatra said yesterday China would support plans by domestic companies to buy a million tonnes of rice a...

Saudi Aramco to expand oil output 13 Oct 2013 - 10:50 pm

DAEGU, South Korea: The world’s largest oil exporter, Saudi Aramco, will increase light sour crude output from two fields —Shaybah and Khurais —...

Malaysia and UAE tie up to boost Islamic finance 13 Oct 2013 - 10:47 pm

KUALA LUMPUR: The central banks of Malaysia and the United Arab Emirates signed a pact yesterday to foster closer economic ties between the...