Business

UBS faces $1bn fine for Libor rigging 15 Dec 2012 - 12:45 am

LONDON: Swiss bank UBS is expected to pay about $1 billion to settle charges of rigging the Libor interest rate benchmark, according to...

Saxo Bank’s direct API solution records strong growth 15 Dec 2012 - 12:43 am

London: Saxo Bank, the online multi-asset trading and investment specialist, announced an increase in monthly average FX volumes of nearly 600 percent compared...

Wall St drops as Apple falls; European stocks mixed 15 Dec 2012 - 12:37 am

NEW YORK: US stocks fell yesterday, with the Nasdaq weighed down by another drop in shares of Apple, and as the overhang of...

IATA raises profit forecasts 14 Dec 2012 - 07:08 am

GENEVA: Global airlines raised industry profit forecasts yesterday on the back of cost cuts and consolidation, but warned of a cocktail of risks...

Spain takes over eighth bank in clean-up drive 14 Dec 2012 - 07:07 am

MADRID: The Spanish government is taking over another lender as its clean-up of the troubled financial sector gathers pace and healthier banks cough...

QE drops 29.16 points this week 14 Dec 2012 - 07:07 am

DOHA: The Qatar Exchange (QE) index travelled on a negative note this week, dropping 29.16 points or 0.35 percent to close at 8,331.14...

QNB eyeing Turkish bank after SocGen deal 14 Dec 2012 - 07:06 am

DUBAI/Doha:Qatar National Bank, which is buying Societe Generale’s Egyptian unit for $2bn as part of a regional expansion strategy, now has control of...

Saudi Arabian firm ties up with Russian grain producer 14 Dec 2012 - 07:06 am

MOSCOW: A Saudi Arabian investment company has set up a joint venture with SAHO, a Siberian grain producer, to ship Russian wheat and...

Real estate sector records 67pc growth in November: Ezdan 14 Dec 2012 - 07:03 am

DOHA: Qatar’s real estate sector recorded strong growth last month. In November, the country’s real estate transaction jumped to QR3.7bn with a growth...

Capital market critical for QNV 2030 takeoff 13 Dec 2012 - 07:56 am

From left: Rym Ayadi, Sami Boujelben, and Emad Mansour at a panel discussion on the final day of Euromoney Qatar Conference yesterday. (Abdul...

Strong demand likely to prompt Qtel to rethink $1bn bond cap 13 Dec 2012 - 07:55 am

DUBAI: Strong global demand for Qatar Telecom’s imminent 10-year bond offering could prompt the company to reconsider its decision to cap the issue...

Regulatory bodies welcome new financial institutions law 13 Dec 2012 - 07:54 am

DOHA: The banking regulator, Qatar Central Bank (QCB), made it amply clear yesterday that as per a new law issued recently anyone soliciting...

Fed sets inflation, jobless targets for hiking rates 13 Dec 2012 - 07:54 am

WASHINGTON: The US Federal Reserve laid out target levels on unemployment and inflation for raising interest rates for the first time yesterday, surprising...

Qatargas, Thailand’s PTT sign long-term SPA 13 Dec 2012 - 07:53 am

DOHA: Qatargas Operating Company Limited (Qatargas) yesterday announced the signing of a long-term LNG Sales and Purchase Agreement (SPA) between Qatar Liquefied Gas...

QNB in deal to buy Societe Generale stake in NSGB 13 Dec 2012 - 07:52 am

Doha: QNB Group announced that it has entered into a definitive agreement with Societe Generale for the acquisition of its entire stake of...

LNG tanker owners face falling profits as projects delayed 13 Dec 2012 - 07:50 am

LONDON: Gas tanker owners face falling profits over the next few years as delays to Australian gas project leave new ships unemployed, though...

Iran stock rally defies economic slump 13 Dec 2012 - 07:46 am

DUBAI: Iranian share prices have rallied 40 percent in the past four months, at odds with the country’s deteriorating economic fundamentals under the...

Opec holds oil output steady; EL Badri stays 13 Dec 2012 - 07:45 am

VIENNA: Opec yesterday maintained its oil output ceiling but had to reappoint Secretary-General Abdullah El Badri to lead the cartel for another year...