Business

Big depositors could suffer in future bank bailouts: EU 07 Apr 2013 - 06:26 am

HELSINKI: Big bank depositors could take a hit under planned European Union law if a bank fails, the EU’s economic affairs chief Olli...

Judge deals blow to workers’ lawsuit 07 Apr 2013 - 06:25 am

SAN FRANCISCO: A federal judge struck down an effort to form a class action lawsuit to go after Apple, Google and five other...

Electric car maker Fisker cuts 75pc of workforce 07 Apr 2013 - 06:25 am

LOS ANGELES: High end electric car maker Fisker Automotive, which has had financial difficulties for months, said it was laying off 75 percent...

Portugal opens refinery 06 Apr 2013 - 01:26 am

A worker walks on Portuguese oil company GALP’s new refinery plant in its Sines facilities after its inauguration, 170km south of Lisbon, yesterday.

Moody’s sees gloomy outlook for Spain banks 06 Apr 2013 - 01:26 am

MADRID: Global credit rating agency Moody’s warned yesterday that Spain’s battered banks face a grim outlook even after a European-funded rescue, with high...

Weak jobs data cast shadow on US economy 06 Apr 2013 - 01:25 am

WASHINGTON: American employers hired at the slowest pace in nine months in March, a sign that Washington’s austerity drive could be stealing momentum...

Workers strike in London 06 Apr 2013 - 01:24 am

Members of the Public and Commercial Services union (PCS) rally outside the Cabinet Office in central London yesterday as they strike for half...

Euro exit poses high risk option for Cyprus 06 Apr 2013 - 01:23 am

NICOSIA: An exit from the eurozone may look tempting for Cyprus in the throes of economic collapse but it poses a high-risk option...

Thai SkyTrain raises $2.1bn in mega IPO 06 Apr 2013 - 01:23 am

BANGKOK: The Thai operator of Bangkok’s SkyTrain system said yesterday that it had raised $2.1bn in one of the biggest initial public offerings...

Spring in air for German industry as orders rise 06 Apr 2013 - 01:23 am

FRANKFURT: German factory orders jumped in February, driven by buoyant domestic and export demand, suggesting that rising confidence in Europe’s biggest economy is...

Call for ban on ex-HBOS bosses 06 Apr 2013 - 01:23 am

LONDON: Bailed-out British lender HBOS was so badly run it would have failed even without the 2008 financial crisis and the regulator should...

Low demand from Japan pushes LNG prices down 06 Apr 2013 - 01:22 am

LONDON/PERTH: Asian prices of liquefied natural gas (LNG) fell to around $15 per million British thermal units (mmBtu) this week amid low demand...

New Greece law to boost investment 06 Apr 2013 - 01:22 am

ATHENS: The Greek parliament approved legislation late on Thursday to boost private investment, a key condition to get the crisis-struck country out of...

Family businesses get KPMG boost 06 Apr 2013 - 01:21 am

DOHA: KPMG has announced the launch of a global centre of excellence dedicated to family business. This initiative offers greater access to knowledge...

Milaha holds extraordinary AGM 06 Apr 2013 - 01:21 am

DOHA: Qatar Navigation (Milaha) QSC held its extraordinary General Assembly Meeting on April 3. A press statement said the meeting had only one...

EU clears Penguin, Random House publishing venture 06 Apr 2013 - 01:20 am

BRUSSELS: The European Commission cleared yesterday a venture between British publisher Pearson and Germany’s Bertelsmann to create a new publishing giant, Penguin Random...

Attiyah: Qatar a competitive LNG supplier 05 Apr 2013 - 05:25 am

Paris: The Chairman of the Administrative Control and Transparency Authority H E Abdullah bin Hamad Al Attiyah yesterday said Qatar is emerging as...

ECB to help languishing eurozone economy 05 Apr 2013 - 05:24 am

FRANKFURT: European Central Bank President Mario Draghi opened the door yesterday to an interest rate cut as soon as next month, saying his...