Business

QIC approves sale of over 7m shares to Qatar Holding 31 Oct 2012 - 04:47 am

DOHA: The Board of Directors of Qatar Insurance Company (QIC) has approved the sale of over 7 million shares to Qatar Holding, the...

EU budget proposals run into crossfire of criticisms 31 Oct 2012 - 04:46 am

BRUSSELS: A compromise proposals on the European Union’s long-term budget, cutting more than ¤50bn ($64.5bn) from the original blueprint, ran into a crossfire...

Dana Gas won’t repay Islamic bond on maturity 31 Oct 2012 - 04:45 am

DUBAI: Dana Gas is set to become the first United Arab Emirates (UAE) company to fail to pay an Islamic bond on maturity,...

UBS to cut 10,000 jobs; wind down fixed income business 31 Oct 2012 - 04:45 am

UBS employees exit the UBS headquarters in London, yesterday. The bank is expected to lay off employees from its London offices. ZURICH: Swiss...

Mawashi’s Q3 net profit reaches QR62m 31 Oct 2012 - 04:44 am

DOHA: Mawashi, Qatar’s Meat & Livestock Company, announced yesterday its financial results for the third quarter of 2012 with net profits reaching a...

UAE approves 2013 deficit-free budget 31 Oct 2012 - 04:44 am

DUBAI: The United Arab Emirates prime minister yesterday announced approval of a 2013 federal budget that is heavy on social spending but without...

Thunderbird launched 30 Oct 2012 - 03:02 am

Royal Enfield motorcycles Senior Vice President Shaji Koshi with the new Thunderbird 500 during its launch in Ahmedabad, India, yesterday.

Doha Bank plans selling shares in London 30 Oct 2012 - 03:02 am

DUBAI: Doha Bank, Qatar’s fifth-largest bank by market value, is considering selling shares in London as part of a plan to boost capital...

Fitch warns of threat from Kuwait unrest 30 Oct 2012 - 03:02 am

PARIS: The ratings agency Fitch warned yesterday that a surge in public unrest in Kuwait could threaten the Gulf state’s solid sovereign rating. ...

Oil firmer as Sandy shuts US refineries 30 Oct 2012 - 03:01 am

LONDON: Brent crude oil steadied around $110 a barrel yesterday as Hurricane Sandy, which forecasters said could be the largest storm ever to...

MasterCard unveils Arabic identity 30 Oct 2012 - 03:00 am

DOHA: With an objective to create enhanced brand affinity among Arab consumers in the Middle East and North Africa (Mena), MasterCard, has unveiled...

EU wants Glencore concessions on Xstrata deal 30 Oct 2012 - 02:59 am

BRUSSELS: EU antitrust regulators have told trader Glencore to offer concessions in its zinc operations to ease concerns about its planned $33bn buy...

Gulf should cut state spending growth: IMF 30 Oct 2012 - 02:59 am

DUBAI: Most Arab oil exporting countries in the Gulf should plan to reduce growth in government spending to make their budgets more sustainable,...

Egypt secures oil supplies for rest of year 30 Oct 2012 - 02:55 am

LONDON: Egypt has secured oil supplies for the rest of the year, despite fears about its ability to make payments, from a small...

Doha Bank takes part in World Energy Forum 30 Oct 2012 - 02:51 am

Dubai: R Seetharaman (pictured), Doha Bank Group CEO, participated in a panel discussion at the recently concluded World Energy Forum, held in Dubai....

BMW to recall 7 Series for transmission flaw 30 Oct 2012 - 02:50 am

Detroit: Bayerische Motoren Werke AG’s BMW of North America affiliate said it will recall 45,500 of its 7 Series luxury sedans from model...

Grain giants tighten grip on market 29 Oct 2012 - 04:01 am

A farmer holds wheat grain near Ashby-de-la-Zouch, central England. Britain will be a net importer of wheat for the first time in a...

Glencore, Xstrata investors to vote on November 20 29 Oct 2012 - 04:01 am

LONDON: Investors in Glencore International and Xstrata, the commodity companies seeking to complete a $33bn combination by the end of the year, are...