Business

Bright future for Mongolia 03 Jun 2013 - 12:41 am

A new hotel and office building stands beside the ancient Choijin Temple in Ulan Bator, Mongolia, yesterday. The country is in the middle...

Qatari bourse index adds 1.22 points 03 Jun 2013 - 12:41 am

Doha: Qatar Exchange pursued its upswing trend yesterday, adding 1.22 points or 0.01 percent to advance to 9,239.22 points from 9,238.00 on Thursday....

No mission to save ailing banks, says Swiss central bank chief 03 Jun 2013 - 12:41 am

ZURICH: Switzerland’s central bank has no mission to save troubled banks, its president told local media yesterday, as a string of the country’s...

France to force big firms to disclose foreign tax bill 03 Jun 2013 - 12:40 am

PARIS: France plans to force large companies to declare details of their foreign activities as a way of reducing tax avoidance, a finance...

Bahrain budget deficit widened to $601m in ’12, below plan 03 Jun 2013 - 12:40 am

DUBAI: Bahrain’s budget deficit widened sevenfold in 2012 to 227m dinars ($601m), but stayed well below an initial plan as the country reined...

KFH to start $224m rights issue on Wednesday 03 Jun 2013 - 12:40 am

DUBAI: Kuwait Finance House (KFH), the Gulf Arab state’s largest Islamic bank, will begin a KD64m ($223.9m) capital increase programme on Wednesday to...

Weekly Money Market Review with IBQ: Economic data remain key for the Fed decision 03 Jun 2013 - 12:35 am

Markets were very volatile last week and currency performance was directly correlated to position unwinding. The poor performance in the Nikkei seemed to...

Qatar First Bank 2012 income hits QR113.2m 02 Jun 2013 - 02:29 am

Qatar First Bank officials during the annual general meeting. DOHA: Qatar First Bank’s (QFB) net income increased to QR113.2m ($31.1m) for year ended...

Spain flags encouraging jobs data 02 Jun 2013 - 02:27 am

Spanish Prime Minister, Mariano Rajoy (left) with Director of Economy’s Circle, Josep Pique during the closing ceremony of the 19th meeting of the...

Blockupy protesters clash with police 02 Jun 2013 - 02:27 am

FRANKFURT: German police used pepper spray and batons against anti-capitalist demonstrators from the Blockupy movement yesterday during a second day of protests against...

EU and IMF praise Greek progress battling debt 02 Jun 2013 - 02:26 am

ATHENS: Greece received a vote of confidence from international creditors over progress in overhauling its stricken economy — and a fresh injection of...

Europe faces cycle of austerity, unemployment 02 Jun 2013 - 02:26 am

Doha: Weak growth and rising unemployment in the eurozone is prompting a change in policy direction away from budget austerity, according to QNB...

No decision on Hutchison: Telecom Italia 02 Jun 2013 - 02:25 am

MILAN: The board of Telecom Italia will not make a decision on a possible tie-up with Hutchison Whampoa at its next meeting on...

Bekele wins 10,000m at Prefontaine Classic 02 Jun 2013 - 12:30 am

EUGENE, Oregon: World record long-distance runner Kenenisa Bekele led an Ethiopian sweep in the 10,000 metres of the 2013 Prefontaine Classic, edging out...

Aeromexico avoids strike 02 Jun 2013 - 12:27 am

Aeromexico flight attendants leave a counter at Mexico City’s international airport yesterday. Mexico’s biggest airline and its unionised workers forged a last-minute accord...

Infosys recalls Murthy as chairman 02 Jun 2013 - 12:27 am

MUMBAI/BANGALORE: India’s No. 2 IT services firm Infosys Ltd, grappling with disappointing results and loss of market share, has recalled founder and former...

Dubai’s ENOC cuts diesel retail price 02 Jun 2013 - 12:26 am

RIYADH: Emirates National Oil Co (ENOC) has cut the retail price of diesel by 20 fils to Dh3.50 a litre, it said yesterday....

US targets Iranian petrochemical industry 02 Jun 2013 - 12:26 am

WASHINGTON: The United States imposed sanctions on Iran’s petrochemical industry, vowing to target more of the Islamic regime’s sources of revenue after curbing...