Business

Kuwait replaces officials at KPC after $2.2bn Dow payment 19 May 2013 - 10:48 pm

KUWAIT: State-run Kuwait Petroleum Company (KPC) appointed a new chief executive and suspended other top officials after the country paid $2.2bn in damages...

Qatari bourse index adds 1.04 percent 19 May 2013 - 10:47 pm

Doha: Qatar Exchange continued its gaining streak yesterday adding 92.53 points (or 1.04 percent) to advance to 9,009.43 points from 8,916.90 on Thursday. ...

Independent Scotland open to Cyprus-style risk: Britain 19 May 2013 - 10:47 pm

LONDON: An independent Scotland would have a vastly oversized financial sector that would leave it vulnerable to a Cyprus-style banking crisis, Britain’s finance...

BoE warns of risk in UK mortgage scheme 19 May 2013 - 10:46 pm

LONDON: A flagship British government scheme to boost mortgage lending must not become permanent like in the United States, outgoing Bank of England...

Abe’s go at cropping tea 19 May 2013 - 04:20 am

Japan’s Prime Minister Shinzo Abe (right) has a go at cropping tea leaves in Kitsuki, Oita prefecture, yesterday. The latest tranche of Japan’s...

Doha banking system robust: QNB Group 19 May 2013 - 04:19 am

Doha: The banking system in Qatar has been robust, with a compounded annual growth rate (CAGR) of 20 percent in assets from March...

Alessa Industries to enter Qatar market 19 May 2013 - 04:16 am

DOHA/RIYADH: Alessa Industries Group, one of the leading integrated industrial conglomerates in Saudi Arabia, has announced their plan to expand into the Qatari...

EU cites Huawei and ZTE for trade violations 19 May 2013 - 04:16 am

NEW YORK: Europe’s top trade official for the first time late on Friday officially cited Chinese mobile telecommunications equipment makers Huawei and ZTE...

Bechtel revenue grew 15 percent last year 19 May 2013 - 04:15 am

San Francisco: Bechtel, the largest US engineering company, said that its revenue grew by 15 percent in 2012, though its backlog of projects...

Switzerland close to deal in US tax dispute: Finance Minister 19 May 2013 - 04:15 am

ZURICH: Switzerland is on the brink of a deal to settle a long-running dispute with US authorities over Swiss banks accused of helping...

Falling deficit in US fuels growth debate 19 May 2013 - 04:14 am

WASHINGTON: Austerity or growth? Europe’s struggling economies have faced the question without fully answering it in recent years, but the United States is...

South Africa miners on illegal strike 19 May 2013 - 04:14 am

JOHANNESBURG: Operations at a chrome mine in South Africa owned by chemicals group LANXESS have been suspended since Thursday after workers started an...

India Walmart lobby case ‘closed’: Report 19 May 2013 - 04:14 am

NEW DELHI: India’s investigation into whether Walmart may have bribed Indian officials to gain wider access to the country’s vast market has been...

Truck drivers end Turkey blockade 19 May 2013 - 04:12 am

SOFIA: Bulgarian truck drivers lifted their traffic blockades at two major border checkpoints with Turkey late on Friday, saying a deal had been...

China housing inflation hits two-year high 19 May 2013 - 04:08 am

A salesperson (right) talks to a customer behind models of a residential compound at a real estate exhibition in Wuxi, Jiangsu province, yesterday. ...

Morocco to harness wind in energy hunt 19 May 2013 - 04:08 am

TARFAYA: Morocco is ploughing ahead with a programme to boost wind energy production, particularly in the southern Tarfaya region, where Africa’s largest wind...

China deal ends distraction, but not questions, for Caterpillar 19 May 2013 - 04:07 am

CHICAGO: Caterpillar Inc’s deal to cut the purchase price of a Chinese mining-equipment maker it bought last year ends an embarrassing episode that...

Tableau shares rise 19 May 2013 - 04:05 am

A woman takes pictures of the New York Stock Exchange, which has a Tableau Software banner on its facade. Shares of Tableau Software...