Business

Malaysia’s UMW may raise $1bn in energy unit IPO 18 May 2013 - 05:04 am

KUALA LUMPUR: Malaysia’s UMW Holdings Bhd plans to sell 39 percent of its oil and gas unit in an initial public offering this...

Chances of stimulus after Carney arrival: BoE official 18 May 2013 - 05:04 am

BIRMINGHAM: The Bank of England (BoE) may have more scope to boost the economy after Mark Carney starts as governor because of tentative...

Turkey hails investment grading 18 May 2013 - 05:04 am

ISTANBUL: Turkey hailed its second investment grade rating yesterday, seeing it as a seal of approval from international markets for a decade of...

Oil price probe widens to include Dutch trading company 18 May 2013 - 05:03 am

LONDON: The European Commission investigation into possible oil price manipulation extended beyond three major companies to a smaller niche trading house, while a...

Miners threaten to bring South Africa to ‘standstill’ 18 May 2013 - 05:03 am

RUSTENBURG, South Africa: The leader of South Africa’s biggest platinum mining union threatened yesterday to bring Africa’s No. 1 economy “to a standstill”...

GDF Suez signs huge US LNG deal with Japanese firms 18 May 2013 - 05:02 am

PARIS: French energy group GDF Suez has signed a joint-venture with US firm Sempra Energy and Japanese groups Mitsubishi and Mitsui relating to...

Vimpelcom plans to delist Orascom stock 18 May 2013 - 05:02 am

CAIRO/MOSCOW: Emerging markets telecoms group Vimpelcom wants to delist Cairo-based subsidiary Orascom Telecom Holding (OTH) from the Egyptian and London stock exchanges so...

Doha Tower bags another award 17 May 2013 - 03:54 am

Officials receiving the ‘GCC Building Project of the Year’ award at the recently concluded ‘MEED Quality Awards for Projects 2013’. DOHA: The 46-storey...

London firm develops takaful unit 17 May 2013 - 03:54 am

SYDNEY: London-based firm Cobalt has developed a Shariah-compliant insurance platform that uses a syndication model to help spread risk across a panel of...

Al khaliji to offer 3D secure service 17 May 2013 - 03:54 am

DOHA: Al Khalij Commercial Bank (al khaliji), in it efforts to improve online shopping security, has plans to introduce 3D secure system for...

Expo to promote India as global R&D destination 17 May 2013 - 03:54 am

DOHA/NEW DELHI: Federation of Indian Chambers of Commerce and Industry (FICCI), India’s oldest and largest apex trade and industry body is organising an...

Islamic finance needs global Shariah board: Official 17 May 2013 - 03:53 am

KUALA LUMPUR/SYDNEY: The Islamic Development Bank (IDB), a Jeddah-based multilateral institution, has called for the creation of a global Shariah advisory board that...

Qatar to buy 40pc in Milan’s property project 17 May 2013 - 03:53 am

MILAN: Qatar Holding LLC has agreed to buy a 40 percent stake in Milan’s real estate development project Porta Nuova for an undisclosed...

Kuwait bourse resumes rally 17 May 2013 - 03:52 am

Three men watch a screen at the Kuwait bourse. The bourse resumed a rally in heavy trading yesterday as upbeat expectations of an...

US consumer prices tumble on petrol; biggest drop in 4 years 17 May 2013 - 03:51 am

A New York City taxi driver fills his taxi with petrol at a service station in New York. WASHINGTON: A sharp drop in...

Dubai lender plans to tap debt markets 17 May 2013 - 03:49 am

DUBAI: Emirates NBD (ENBD), Dubai’s biggest lender, plans to tap global debt markets for its first capital-boosting bond issue, as Gulf banks take...

QE index up 69.02 points this week 17 May 2013 - 03:49 am

Doha: Qatar Exchange index gained 69.02 points (0.78 percent) this week when it closed at 8,916.90 points at the end of the trading...

Iran plans to boost diesel exports to Iraq 17 May 2013 - 03:48 am

DUBAI: Iran will more than double its diesel exports to Iraq thanks to higher capacity at its refineries, a leading oil official said....