Business

Officials seem to have broken law, says GSK 23 Jul 2013 - 01:10 am

LONDON/SHANGHAI: British drugmaker GlaxoSmithKline said yesterday some of its executives in China appeared to have broken the law in a bribery scandal, as...

Yahoo! to buy back 40 million shares from hedge fund 23 Jul 2013 - 01:10 am

NEW YORK CITY: Yahoo! said yesterday it agreed to buy back 40 million shares from a hedge fund which sought a shakeup of...

Saudi Telecom moves to sell Indonesia unit as profit tumbles 23 Jul 2013 - 01:08 am

DUBAI: Saudi Telecom Co (STC) has begun steps to sell its Indonesian business, banking sources said yesterday, as the state-owned firm posted a...

QPI buys 25pc stake in Greek power plant 22 Jul 2013 - 12:50 am

The Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada posing for a group picture after the signing ceremony...

EQ gets new CEO 22 Jul 2013 - 12:48 am

DOHA: Enterprise Qatar (EQ) has announced the appointment of Abdulaziz bin Nasser Al Khalifa (pictured) as its new Chief Executive Officer. Al Khalifa...

Qatar bourse index down; Dubai rallies 22 Jul 2013 - 12:46 am

Doha: Qatar Exchange was down 9.16 points or 0.10 percent to 9,540.71 points yesterday from the previous closing of 9,549.87 points. Among the...

ARI brings home ‘Mena Sukuk Manager of the Year’ award 22 Jul 2013 - 12:46 am

Doha: City-based Al Rayan Investment (ARI) scooped the Mena Sukuk Manager of the Year title at the 2013 Investment Excellence Awards. The award...

Iran denies missing World Bank payments 22 Jul 2013 - 12:45 am

DUBAI: Iran denied yesterday it had failed to make payments on its loans to the World Bank for the last six months, blaming...

Third of Britons see interest rates rising in next 12 months 22 Jul 2013 - 12:45 am

LONDON: More than a third of Britons think interest rates will rise in the next 12 months, a survey showed yesterday, suggesting the...

Halting wheat imports was Mursi’s biggest mistake, says minister 22 Jul 2013 - 12:30 am

CAIRO: The biggest mistake deposed Egyptian president Mohammed Mursi made was stopping wheat imports, Egypt’s new minister of supplies said, pledging to ensure...

Commodity prices experience mixed week 22 Jul 2013 - 12:14 am

LONDON: Global commodity prices diverged last week as traders bet on a rosier economic outlook for the United States amid mixed signals surrounding...

Bangkok voted world’s best destination city 22 Jul 2013 - 12:14 am

The Bangkok Bank building (right) in Bangkok. The bank is Thailand’s largest commercial bank and one of the biggest in South East Asia....

Global banks eye Iraq but risks abound 22 Jul 2013 - 12:13 am

BAGHDAD: Interest by Citibank and Standard Chartered to expand into Iraq highlights the vast potential of the country’s banking sector, but the experience...

GSK boss to address China scandal this week 22 Jul 2013 - 12:13 am

LONDON: GlaxoSmithKline Chief Executive Andrew Witty will detail what action the drugmaker is taking in response to allegations of bribery against it in...

Two new members in QBA board 21 Jul 2013 - 01:37 am

Members of the QBA pose for a group picture. DOHA: The Qatari Business-men’s Association (QBA) is set to meet with the newly appointed...

G20 endorses plan to halt tax avoidance 21 Jul 2013 - 01:36 am

MOSCOW: The G20 yesterday fully endorsed an action plan set out by the OECD to clamp down on tax avoidance which its creators...

Boeing confident about Dreamliner; no orders cancelled, says Johnson 21 Jul 2013 - 01:34 am

BY MOHAMMAD SHOEB DOHA: Problems encountered by Boeing’s 787 Dreamliner are glitches that any new airplane goes through, and the company is confident...

Japan wins rights to explore for rare metals in Pacific 21 Jul 2013 - 01:34 am

TOKYO: Japan yesterday said it had won the rights to explore for cobalt-rich crusts in the Pacific, a move that could reduce its...