Business

Commodity prices retreat on economic strains 21 Oct 2012 - 06:10 am

LONDON: Commodity prices mainly retreated this week, pressured by a tough economic climate highlighted in part by weakening growth in the world’s second...

$5.2bn Petronas bid for Progress Energy blocked 21 Oct 2012 - 06:10 am

TORONTO/KUALA LUMPUR: Canada has blocked Malaysian state oil firm Petronas’ C$5.17bn ($5.2bn) bid for gas producer Progress Energy Resources in a surprise move...

Wall Street investors face earnings blitz with dread 21 Oct 2012 - 06:09 am

NEW YORK: US earnings started the quarter on the wrong foot, and things have only gotten worse. Expectations for the third quarter were...

Alcatel-Lucent to cut 5,490 jobs 20 Oct 2012 - 04:10 am

Employees of Alcatel-Lucent take part in a general assembly in front of their company in Velizy-Villacoublay, Paris, yesterday. Alcatel-Lucent has informed unions that...

Europe agrees to centralised bank regulator 20 Oct 2012 - 04:09 am

BRUSSELS: European leaders agreed yesterday to police thousands of eurozone banks from next year as they sought to boost growth in their austerity-battered...

New Saudi refinery to start diesel exports by second quarter in 2013 20 Oct 2012 - 04:09 am

SINGAPORE: A new refinery in Saudi Arabia that is a joint venture of Saudi Aramco and France’s Total is likely to start diesel...

UK engineers create petrol from air, water 20 Oct 2012 - 04:09 am

LONDON: A small British company has developed a way to create petrol from air and water, technology it hopes may one day contribute...

Islamic finance body hires new chief executive 20 Oct 2012 - 04:09 am

KUALA LUMPUR: The International Islamic Liquidity Management Corp (IILM), a company backed by central banks located mainly in Asia and the Middle East,...

Airbus plans to double US spending 20 Oct 2012 - 04:08 am

WASHINGTON: European aircraft maker Airbus said yesterday that it plans to double its annual spending with US companies to some $24bn in the...

European stocks sink 20 Oct 2012 - 04:02 am

LONDON: European equities fell yesterday, hit by a lack of rapid progress towards full EU banking union at a key summit, while traders...

WTO hands Obama victory in US-China steel case 20 Oct 2012 - 04:02 am

GENEVA/WASHINGTON: The World Trade Organisation barred China yesterday from imposing duties on certain US steel exports, siding with US President Barack Obama in...

Iran’s shipping woes delay crude deliveries to China 20 Oct 2012 - 04:01 am

BEIJING/SEOUL: Iranian crude volumes received by China have been below contracted levels since September, because Iran’s tanker fleet, the sole transporter of its...

US home resales slip 20 Oct 2012 - 04:01 am

WASHINGTON: US home resales retreated in September from a two-year high, a reminder that America’s housing sector is a long way from a...

Brent, US crude fall 20 Oct 2012 - 04:00 am

NEW YORK: Brent and US crude futures fell more than $1 yesterday as fears of extended supply interruptions, the dollar strengthened on a...

N-KOM wins ‘Shipyard of the Year’ Award 19 Oct 2012 - 04:28 am

An N-KOM official receiving the award recently. DOHA: Nakilat-Keppel Off-shore & Marine (N-KOM) has been awarded ‘Shipyard of the Year’ at Lloyd’s List...

Gulf Islamic banks ready to step in as HSBC pulls back 19 Oct 2012 - 04:28 am

SYDNEY: Four days after HSBC Holdings said it would shrink its global Islamic banking operations, National Bank of Abu Dhabi revealed very different...

QE market capitalisation increases to QR468.23bn 19 Oct 2012 - 04:27 am

DOHA: Qatar Exchange’s main index gained 63.53 points or 0.75 percent last week to close at 8,542.14 points. Trading value last week increased...

Oil falls to $112 a barrel 19 Oct 2012 - 04:26 am

LONDON: Oil dropped to $112 a barrel yesterday, pressured by signs of a healthier supply outlook and a rise in US jobless claims,...