Business

Ford Ecosport launched in India 27 Jun 2013 - 03:27 am

President and Managing Director of Ford India Joginder Singh with newly-launched Ford Ecosport in New Delhi yesterday. Car sales in India slid by...

Higher costs trouble Saudi telecom giant 27 Jun 2013 - 03:26 am

DUBAI: Saudi Telecom Co (STC) is a company with a market capitalisation of $21bn but no permanent chief executive. It has spent billions...

Oman sukuk gets regulatory approval 27 Jun 2013 - 03:26 am

DUBAI: Oman’s first corporate sukuk has received regulatory approval and the five-year, RO50m ($130m) private placement aims to close next month, its lead...

Gold nears three-year low, set for record quarterly loss 27 Jun 2013 - 03:25 am

LONDON: Gold hit its lowest in almost three years yesterday and was on course for a record quarterly loss after US data reinforced...

Sharp to make cutting-edge LCDs in China 27 Jun 2013 - 03:25 am

TOKYO: Troubled Japanese electronics giant Sharp Corp is to produce cutting-edge LCD panels for smartphones in a Chinese joint venture from as early...

Total eyes UK shale gas, awaits bidding for a stake 27 Jun 2013 - 03:24 am

PARIS: French oil major Total would like to explore shale gas in Britain but is not currently in talks to acquire stakes in...

Central Bank of Sri Lanka projects high growth 27 Jun 2013 - 03:23 am

Men work at a construction site at Colombo port yesterday. The Central Bank of Sri Lanka is projecting the economy will grow 7.5...

Strike plans stir unease in Portugal 27 Jun 2013 - 03:22 am

LISBON: Portugal’s fourth general strike in two years today will highlight the dilemma faced by the government, which imposed dramatic austerity measures to...

Nakheel in talks to refinance $2.2bn loans 27 Jun 2013 - 03:22 am

DUBAI: Dubai’s state-owned property firm Nakheel, is in talks with banks to refinance loans worth Dh8bn ($2.2bn) that are due in 2015, the...

Young funds bet big on free-spending seniors 27 Jun 2013 - 03:22 am

PARIS/LONDON: Their birth heralded the longest phase of economic growth in living memory. Now, 65 years on, wealthy “Baby Boomers” are doing the...

Standard Chartered brushes off China fears 27 Jun 2013 - 03:21 am

LONDON: Standard Chartered brushed off fears that a slowdown in China’s economy would hit the Asia-focused lender hard and said it would meet...

Gem finds high-value diamond 27 Jun 2013 - 03:20 am

Bangalore: Miner Gem Diamonds Ltd said it recovered a 100 carat diamond from its Letseng mine in Lesotho, sending its shares up as...

Sheikh Hamad steered Qatar to prosperity 26 Jun 2013 - 01:57 am

DOHA: H H Sheikh Hamad bin Khalifa Al Thani steered Qatar to fame and prosperity during his 18-year tenure as Emir and one...

Manchester airport gets a facelift 26 Jun 2013 - 01:55 am

A view of Manchester Airport, northwest England, yesterday, during a media preview of the $31m facility which will be operational in the coming...

Fitch affirms RasGas2, 3 bonds ‘A+’ rating 26 Jun 2013 - 01:55 am

DOHA: Fitch Ratings has affirmed Ras Laffan Liquefied Natural Gas Company Limited (2)’s and Ras Laffan Liquefied Natural Gas Company Limited (3)’s senior...

Crude prices slightly higher 26 Jun 2013 - 01:54 am

NEW YORK: Crude oil prices were slightly higher in lacklustre trading yesterday, gains kept in check by a stronger US dollar and less...

China Mobile, Etisalat weighing bids for Pakistan telecom 26 Jun 2013 - 01:54 am

DUBAI: Pakistan mobile operator Warid Telecom has been put up for sale by its Abu Dhabi owners and is likely to draw interest...

No plans to change rates: European Central Bank 26 Jun 2013 - 01:53 am

FRANKFURT: The European Central Bank has no intention of altering eurozone interest rates for the time being, as economic conditions remain weak, two...