Business

HSBC chairman calls for speedier bank reforms 25 May 2013 - 02:55 am

LONDON: HSBC’s Chairman Douglas Flint called for an acceleration in the speed of reform within the industry as the bank was criticised by...

Raiffeisen CEO quits over Offshore deals 25 May 2013 - 02:55 am

VIENNA: Raiffeisen Bank International Chief Executive Herbert Stepic resigned yesterday in what he called an effort to spare his bank from negative publicity...

Spaniards rail at Bankia as savings evaporate 25 May 2013 - 02:55 am

MADRID: Spanish savers vented their fury against bailed-out Bankia yesterday after the already-diminished value of their stock investments in the bank plummeted by...

Chinese growth losing momentum 25 May 2013 - 02:53 am

Employees work at a factory which makes bearing cages in Liaocheng, Shandong province, yesterday. As evidence mounts that China’s economy is losing momentum,...

Etisalat makes top bid for Maroc Tel stake 25 May 2013 - 02:53 am

PARIS/LONDON: Gulf telecom operator Etisalat has offered a higher price for Vivendi’s Maroc Telecom stake than rival Qatari bidder Ooredoo , according to...

First Egyptian tablet in the making 25 May 2013 - 02:50 am

Workers check parts for Egypt’s first tablet computer “Inar” at a factory in Benha yesterday. Egypt has produced its very first tablet computer,...

Lagarde grilled for second day over payout 25 May 2013 - 02:49 am

PARIS: IMF chief Christine Lagarde’s future was at stake yesterday as French prosecutors grilled her for a second day to decide if she...

German growth builds up steam 25 May 2013 - 02:49 am

FRANKFURT: The German economy, after starting the year weakly, looks set to gather momentum later with consumer and business confidence on the rise,...

Rising dollar unnerves emerging markets 25 May 2013 - 02:49 am

LONDON: As the dust settles on a volatile week, many strategists now sense a green light for a long-brewing multi-year rise of the...

Most Gulf markets plunge 24 May 2013 - 01:13 am

Investors keep a close watch on electronic displays at the Abu Dhabi Securities Exchange. DUBAI: Most Gulf markets fell yesterday as a sell-off...

QE gains 131.72 points this week 24 May 2013 - 01:13 am

Doha: Qatar Exchange (QE) gained 131.72 points (1.48 percent) this week when trading closed yesterday at 9,048.62 points. The trading value increased by...

Ford to close Aussie plants 24 May 2013 - 01:12 am

Ford Australia’s head office in Melbourne. Ford Motor Co will shut its two Australian auto plants in October 2016, blaming a strong currency...

Bahraini banks in merger talks as consolidation picks up 24 May 2013 - 01:09 am

DUBAI: Bahrain’s Al Salam Bank and BMI Bank, an affiliate of Oman’s Bank Muscat, have announced plans to merge, a tie-up which would...

Abu Dhabi govt-owned holding firm Senaat plans share sale 24 May 2013 - 01:08 am

ABU DHABI: An Abu Dhabi government-owned holding company may sell its own shares or offload a stake in one of its main businesses...

OBG, QNB in deal to compile 10th edition of project report 24 May 2013 - 01:08 am

DOHA: Oxford Business Group (OBG), a global publishing, research and consultancy firm, recently signed a Memorandum of Understanding (MOU) on research facilities for...

Singapore’s Q1 GDP growth slows 24 May 2013 - 01:07 am

A container vessel sails to the port in Singapore yesterday. The trade-sensitive economy slowed in the first quarter on sluggish demand for its...

IMF’s Lagarde in court for French arbitration case 24 May 2013 - 01:06 am

PARIS: IMF chief Christine Lagarde arrived in court yesterday to be questioned by a French magistrate over her role in a ¤285m ($366m)...

Fed stimulus concerns pull oil price down 24 May 2013 - 01:06 am

NEW YORK: Oil fell to a three-week low yesterday in a broader commodities selloff as a decline in China’s factory activity entrenched concern...