Business

Dubai plans huge gold refinery 06 May 2014 - 01:25 am

Kaloti Precious Metals CEO Tarek El-Mdaka (right) and President Munir Al Kaloti at their office in Dubai. DUBAI: In the desert on the...

RasGas celebrates another record 06 May 2014 - 01:21 am

DOHA: RasGas Company Ltd (RasGas) recently celebrated an unprecedented record of 130 million manhours lost time injury (LTI) free at Ras Laffan Industrial...

UBL officials attend ISO meet 06 May 2014 - 01:21 am

From left: Ankita Das, Dr Sunil Manjarekar of Sanbook Quality, Dubai, Shahid Amin Sheikh, General Manager, UBL, Andrew P Kenneth, Head of Service...

Portugal to end bailout with clean chit 06 May 2014 - 01:18 am

Caption LISBON: Portugal decided to make a clean break from its EU-IMF bailout, following in the footsteps of Ireland by forgoing a credit...

Lufthansa bags award 06 May 2014 - 01:16 am

Lufthansa team celebrating after clinching the award for the Best European Airline serving the Middle East at the Business Traveller Middle East Awards...

China manufacturing weakens further 06 May 2014 - 01:16 am

People visiting different booths at the Guandong Import and Export Fair in Guangzhou. China’s overall trade is likely to gain momentum after May...

Ukraine’s largest bank shuts 06 May 2014 - 01:15 am

People gather at the entrance of a closed branch of Privatbank in Luhansk, eastern Ukraine, yesterday. Privatbank, Ukraine’s largest bank, has temporarily closed...

Etisalat to sell African business for $650m 06 May 2014 - 12:59 am

DUBAI: Etisalat, which is set to buy a majority stake in Maroc Telecom, has agreed to sell its West African business to the...

Pfizer hints at hostile bid for AstraZeneca 06 May 2014 - 12:59 am

NEW YORK: Pfizer said yesterday that it remains keen to acquire AstraZeneca but hinted at a hostile takeover campaign if the British company...

Indonesia growth slowest in 4 years 06 May 2014 - 12:58 am

JAKARTA: Indonesia’s economy grew at its slowest in more than four years in the first quarter as a mineral export ban, successive interest...

German retailer Metro to step up India expansion 06 May 2014 - 12:58 am

DUESSELDORF: German retailer Metro AG wants to step up expansion in India and is planning to have 50 wholesale stores in the country...

Starwood to open 35 hotels in Mideast 06 May 2014 - 12:58 am

Doha: Starwood Hotels & Resorts Worldwide Inc yesterday announced that it would open 35 hotels in the Middle East in the next three...

Russian economy has most to lose in crisis, says EU 06 May 2014 - 12:57 am

BRUSSELS: A top European Union official said yesterday that the worsening situation in Ukraine is hurting the Russian economy more than the economies...

Turkey’s April inflation weighs against quick rate cuts 06 May 2014 - 12:57 am

ANKARA: Turkish inflation rose more than expected in April, staying stubbornly above the central bank’s forecast for the end of the year and...

Baosteel in $1.3bn bid for Aquila 06 May 2014 - 12:57 am

SYDNEY: Chinese iron and steel giant Baosteel yesterday said it was readying a takeover bid for Aquila Resources that values the Australian iron...

South Africa’s jobless rate up above 25pc 06 May 2014 - 12:57 am

JOHANNESBURG: Days before a general election, South Africa’s government reported yesterday that unemployment had risen above 25 percent for the first time in...

EU sees steady, modest growth in eurozone 06 May 2014 - 12:56 am

BRUSSELS: The European Commission tweaked its 2014 and 2015 economic forecasts yesterday but left intact the overall outlook for gradual recovery from a...

Twitter, Amazon team up for in-app buying 06 May 2014 - 12:56 am

WASHINGTON: Amazon rolled out a new feature yesterday allowing Twitter users to select items for purchase on the online retail site without leaving...