Business

Philippine growth 14 Jul 2013 - 01:33 am

A view of new office buildings in Manila. Visiting World Bank vice president for East Asia and the Pacific Axel van Trotsenburg said...

Ford sees turnaround in Europe: Official 14 Jul 2013 - 01:32 am

DETROIT: The steep contraction of Europe’s auto industry — which has trimmed sales, forcing carmakers to absorb punishing losses and slash production —...

Greece picks Eurobank to buy Postbank 14 Jul 2013 - 01:32 am

ATHENS: Greece’s bank rescue fund picked Eurobank to buy New Hellenic Postbank as part of consolidation in the sector and to meet a...

G20 needs clear policies: Russia 14 Jul 2013 - 01:31 am

MOSCOW: The Group of 20 backs clear monetary policies, Russia said yesterday, reflecting the concerns of developing economies that a withdrawal of US...

JPMorgan Chase Q1 profit up 31pc 13 Jul 2013 - 01:58 am

Commuters are reflected in stone as they walk past the JPMorgan headquarters in New York. JPMorgan Chase & Co reported a 31 percent...

Dreamliner catches fire at Heathrow 13 Jul 2013 - 01:57 am

Emergency crew surround a Boeing 787 Dreamliner, operated by Ethiopian Airlines, which caught fire at Heathrow airport yesterday. LONDON: A Boeing 787 Drea-mliner...

Egypt likely to convert funds into bonds 13 Jul 2013 - 01:57 am

LONDON: Egypt could convert part of the $12bn of loans and grants pledged by Gulf nations this week into tradable bond securities, a...

US-EU trade talks make headway 13 Jul 2013 - 01:57 am

WASHINGTON: US and Euro-pean Union trade negotiators claimed progress yesterday as they closed out the first week of ambitious talks to create a...

S&P upgrades Ireland outlook 13 Jul 2013 - 01:56 am

DUBLIN: Standard & Poor’s upgraded its outlook on Ireland’s credit rating yesterday, saying its debt may fall faster than expected, nurturing European Union...

US gives foreign banks one year to join tax evasion push 13 Jul 2013 - 01:56 am

WASHINGTON: The United States yesterday put off until mid-2014 the deadline for foreign banks to agree to supply information on the accounts of...

Qatar, RWE in initial talks on DEA unit 13 Jul 2013 - 01:55 am

FRANKFURT: Qatar, the world’s biggest liquefied gas producer which is looking to grow more quickly abroad, has held initial talks with Germany’s No...

European stocks edge up on US inflation 13 Jul 2013 - 01:55 am

LONDON: European stock markets rose slightly yesterday, as traders weighed higher inflation data in the US and signals from China that growth this...

India’s May industrial output shrinks 13 Jul 2013 - 01:54 am

NEW DELHI: India’s industrial output shrank by a shock 1.6 percent in May from a year ago, data showed yesterday, adding to mounting...

Infosys profit up 3.7pc in first quarter 13 Jul 2013 - 01:54 am

NEW DELHI: Indian IT outsourcing giant Infosys reported yesterday a nearly four percent rise in quarterly net profit and kept its market forecast...

Turkey faces interest rate dilemma as lira tumbles 12 Jul 2013 - 05:21 am

Turkish lira banknotes. ISTANBUL: Turkey’s central bank faced calls yesterday to raise interest rates to steady the embattled lira despite political pressure from...

Oil hits 15-month high 12 Jul 2013 - 05:21 am

LONDON: Global oil prices hit a 15-month high point yesterday, boosted by signs of strengthening demand in top consumer the US and ongoing...

QE extends rally, index gains 47.80 points this week 12 Jul 2013 - 05:21 am

DOHA: Qatar Exchange (QE) index extended its rally this week adding 47.80 points or 0.51 percent as the trading closed at 9,419.97 points...

ADIA to invest $200m in Indian real estate 12 Jul 2013 - 05:20 am

MUMBAI/DUBAI: Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, plans to invest about $200m in Indian real estate,...