Business

Bank’s support for cycling 28 May 2013 - 04:59 am

The logo of Bank of Moscow is seen on bicycles for rent in central Moscow yesterday. The city authorities in association with the...

Altimo fails to secure majority stake in Orascom Telecom 28 May 2013 - 04:59 am

Cairo: Russia’s Altimo failed to secure a majority stake in Egypt-based Orascom Telecom by a Monday deadline and said it was ready to...

EU duties on Chinese solar panels losing member state support 28 May 2013 - 04:58 am

BRUSSELS: A majority of EU governments oppose a plan to impose hefty duties on solar panel imports from China, a survey of member...

Ireland to rebuff tax haven claims 28 May 2013 - 04:57 am

DUBLIN: Ireland is preparing to officially reject accusations by US Senators this week that it acts as a tax haven for large multinationals...

Top investors seek to buy Club Med for $700m 28 May 2013 - 04:57 am

PARIS: Club Mediterranee’s (CMIP.PA) top shareholders plan to take over the French holiday firm in a bid that values it at around ¤541m...

Turkish bank shares fall on overdraft rate cap 28 May 2013 - 04:57 am

ISTANBUL: Turkish banking shares fell yesterday after the central bank halved the maximum monthly interest rate that banks can charge on overdrafts. The...

Abu Dhabi turning to emerging markets 28 May 2013 - 04:56 am

DUBAI: Abu Dhabi Investment Authority is reducing target exposures to developed market stocks and looking for growth in emerging markets, the sovereign wealth...

Deutsche Telekom eyes acquisition in Poland 28 May 2013 - 04:56 am

FRANKFURT: Deutsche Telekom is considering buying Poland’s GTS Central Europe for ¤600m ($775m) as part of plans to strengthen its position in eastern...

Israel cuts interest rates again 28 May 2013 - 04:55 am

JERUSALEM: The Bank of Israel kept up its battle against shekel appreciation and the prospect of slower export growth with its second interest...

Banking sector pushes Qatari index down 28 May 2013 - 04:55 am

Doha: Qatar Exchange index lost 15 points or 0.17 percent to 9,071.90 points from the previous closing of 9,086.90 points. The volume of...

Valeant buys Bausch & Lomb for $8.7bn 28 May 2013 - 04:54 am

OTTAWA: Canadian pharmaceutical company Valeant announced yesterday a deal to acquire US eye health company Bausch & Lomb for $8.7bn in cash, becoming...

Peru official sees 2013 growth close to 6.1pc 28 May 2013 - 04:54 am

DUBAI: Peru’s economic growth is likely to be close to 6.1 percent this year but more data is needed before the central bank...

Shanghai sees biofuel gold in recycled cooking oil 28 May 2013 - 04:54 am

SHANGHAI: China’s commercial hub Shanghai plans to turn recycled cooking oil, some of it seized by authorities, into an environmental asset by converting...

Iran offers insurance to India refiners 28 May 2013 - 04:52 am

NEW DELHI: Iran has offered insurance for Indian refiners to boost its crude sales, industry sources said yesterday, as the Islamic nation looks...

GE investing billions eyeing fracking boom 28 May 2013 - 04:52 am

PITTSBURGH: One of America’s corporate giants is investing billions of dollars in the new boom of oil and gas drilling, or fracking. General...

Germany says financial transaction tax unlikely soon 28 May 2013 - 04:52 am

BERLIN: German government officials are playing down prospects for introducing a financial transaction tax in the near future after a member of the...

Merkel sticks to electric cars target despite setback 28 May 2013 - 04:50 am

BERLIN: Chancellor Angela Merkel reaffirmed her target to bring one million electric cars on to German roads by the end of the decade,...

EU exit puts US trade deal at risk, Britain warned 28 May 2013 - 04:46 am

The Obama administration has warned British officials that if the UK leaves Europe it will exclude itself from a US-EU trade and investment...