Business

Gas liquid separation plant in Bolivia 12 May 2013 - 02:40 am

Oil workers attend the inauguration of Bolivia’s natural gas liquid separation plant in Rio Grande, some 70km from Santa Cruz. The government and...

Egypt confident on IMF deal, timing of next visit unsure: Minister 12 May 2013 - 02:39 am

ISTANBUL: Egypt’s new planning minister said yesterday he was confident the country would reach a deal with the International Monetary Fund (IMF) on...

Lebanon has 30trn cubic feet of gas 12 May 2013 - 02:39 am

BEIRUT: Preliminary surveys of Lebanese offshore fields show reserves of 30 trillion cubic feet of natural gas and 660 million barrels of oil,...

UAE bank says clients did not lose money in cyber fraud 12 May 2013 - 02:39 am

DUBAI: A Middle Eastern bank that fell victim to a major cyber fraud said that none of its customers had lost any money...

Asia LNG prices steady, Latin America pays more 12 May 2013 - 02:38 am

LONDON/PERTH: Asian prices of liquefied natural gas (LNG) steadied at low levels this week due to feeble demand, while Latin American importers continued...

Saudi Arabia’s Yanbu refinery back online 12 May 2013 - 02:37 am

KHOBAR, Saudi Arabia: Saudi Aramco’s 400,000 barrels per day (bpd) Yanbu refinery has come back online after nearly two-month long maintenance, trading sources...

China’s lithium battery plant draws ire 12 May 2013 - 02:37 am

People participate in a protest against a battery factory on a street of Songjiang district, on the outskirts of Shanghai, yesterday. SHANGHAI: Hundreds...

Parkson store in Yangon 12 May 2013 - 02:36 am

Tham Tuck Choy, Managing Director of Myanmar Parkson Co Ltd, during the opening ceremony of a Parkson Department Store in Yangon yesterday.

Report: Kuwait exported $111.39bn oil last year 12 May 2013 - 02:35 am

Kuwait: An economic report has revealed that the value of Kuwait oil exports hit a new record in 2012 driven by a remarkable...

Shale gas could curb Gazprom prices, says EU commissioner 12 May 2013 - 02:35 am

VILNIUS: The development of shale gas in Europe could help the continent obtain better deals from its current key supplier, the Russian giant...

Oman to host Gulf Industries Fair 12 May 2013 - 02:34 am

Muscat: The Sultanate of Oman will host the Gulf Industries Fair on June 16th. The three-day event aims at promoting Gulf industrial products...

Turkey and China finalise $2.4bn thermal power plant contract 12 May 2013 - 02:34 am

Istanbul: Turkey and China have finalised a contract worth $2.4bn to build a coal-based thermal power plant in northwestern Turkey. The deal was...

G7 to press on with bank reforms 12 May 2013 - 02:33 am

British Finance Minister George Osborne at a press conference following the G7 finance ministers and central bank governors meeting in Aylesbury, Buckinghamshire, yesterday....

Alibaba to pay $294m for stake in digital map firm 12 May 2013 - 02:32 am

HANGZHOU, China: Chinese online retail giant Alibaba said it would pay $294m for a 28 percent stake in China’s leading digital map provider,...

Italy’s Enel agrees early retirement for 3,500 workers 12 May 2013 - 02:32 am

ROME: Italian power company Enel has reached a deal on early retirement for almost 10 percent of its domestic workforce, the largest agreement...

FAA says it can keep small airports open 12 May 2013 - 02:31 am

WASHINGTON: The US Federal Aviation Administration (FAA) has said it would be able to keep in service 149 small airport control towers and...

Hyundai woos China with mega ships 12 May 2013 - 02:30 am

Ships under construction in December at the dry dock at the Hyundai Heavy Industries Co. shipyard in Ulsan, South Korea. Rising demand for...

Boeing makes 787s faster; could boost Q4 deliveries 12 May 2013 - 02:29 am

NEW YORK: Boeing Co said it has succeeded in getting its factories to churn out 787 Dreamliners at a faster pace this week,...