Business

Saudi banks help lift index; Qatar slides 09 Apr 2013 - 12:49 am

DOha/DUBAI: Saudi Arabia’s banks helped lift the bourse yesterday after two lenders posted estimate-beating earnings, while other regional markets also gained as bargain-hunters...

China, Australia to allow direct currency trade 09 Apr 2013 - 12:49 am

SHANGHAI: China and Australia will begin direct conversion of their currencies in a sign of growing business links, Australian Prime Minister Julia Gillard...

Ezdan Mall to open doors on April 15 09 Apr 2013 - 12:48 am

DOHA: Ezdan Mall at Gharafa, the first mall to be launched by Ezdan Holding Group, is all set to open its doors for...

Ashton seeks consensus on Egypt economy 08 Apr 2013 - 04:45 am

Egyptian President Mohammed Mursi (centre) meeting with EU foreign policy chief Catherine Ashton in Cairo, yesterday. CAIRO: The European Union’s foreign policy chief...

Weekly Money Market Review with IBQ: ECB will not print money as economic weakness intensifies 08 Apr 2013 - 04:45 am

Only when you think you have seen it all, the market pushes you back into humility. Indeed, the meeting of the Bank of...

India PM urges businesses to ‘keep the faith’ 08 Apr 2013 - 04:43 am

NEW DELHI: India’s government is appealing to corporate leaders to “keep the faith” as it struggles to revive a staggering economy, but the...

Lagarde says euro has ‘solid future’ 08 Apr 2013 - 04:42 am

Australian Prime Minister Julia Gillard (second left) speaks with Chinese President Xi Jinping (second right) in Boao, Hainan province, yesterday. State and government...

BoJ ushers in ‘easy money’ era, but questions abound 08 Apr 2013 - 04:42 am

TOKYO: The Bank of Japan’s (BoJ) huge new easing measures mark its boldest bid yet to vanquish growth-sapping deflation, but observers warn there...

Luxembourg says willing to ease banking secrecy 08 Apr 2013 - 04:42 am

BERLIN: Luxembourg is prepared to ease its banking secrecy rules and work more closely with foreign tax authorities, Finance Minister Luc Frieden (pictured)...

France expects 0.1pc growth 08 Apr 2013 - 04:41 am

PARIS: French Finance Minister Pierre Moscovici yesterday said that France’s economy was expected to grow just 0.1 percent this year, revising downward an...

Etihad Q1 passenger revenues up 19pc 08 Apr 2013 - 04:41 am

ABU DHABI: Etihad Airways said passenger revenues rose 19 percent in the first quarter as Abu Dhabi’s flagship carrier expanded globally through partnership...

Morgan Stanley appoints new Mena chairman 08 Apr 2013 - 04:41 am

DUBAI: Morgan Stanley named veteran banker Sammy Kayello as the chief executive and chairman of its business in the Middle East and North...

Riyad Bank posts 5.5pc rise in first quarter profit 08 Apr 2013 - 04:41 am

RIYADH: Saudi Arabia’s Riyad Bank posted a 5.5 percent rise in its first-quarter profits yesterday, beating analysts’ forecasts. The kingdom’s third-largest listed bank...

Zain says Iraq unit to complete IPO this year 08 Apr 2013 - 04:40 am

KUWAIT: Kuwait’s No.1 telecom operator Zain yesterday said its Iraqi unit would complete an initial public offering by the end of 2013, signally...

Shuaa names head for Saudi arm 08 Apr 2013 - 04:40 am

DUBAI: Shuaa Capital has named Kamel Almunajjed as chairman of its Saudi Arabia subsidiary, the Dubai-based investment bank’s latest senior appointment as it...

EFG still awaiting Cairo approval for QInvest merger deal 08 Apr 2013 - 04:39 am

CAIRO: EFG Hermes, the Middle East’s top investment bank, yesterday said a merger deal with Qatari investment company QInvest will lapse on May...

Mixed trading in Gulf bourses 08 Apr 2013 - 04:39 am

DUBAI: Kuwait’s small-caps helped lift the bourse to a 26-month high yesterday as investors bet on improving earnings, while other regional markets were...

Group to acquire majority stake in Egypt’s NSGB 08 Apr 2013 - 04:39 am

DOHA: QNB Group, under its new expansion plan to enter into the Egyptian banking sector, has announced to acquire a majority stake (over...