Business

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...

BlackBerry sells Canadian properties 06 May 2014 - 12:56 am

OTTAWA: Smartphone maker BlackBerry announced yesterday the sale of most of its Canadian properties to San Francisco-based real estate investment firm Spear Street,...

Iraq authorises 3G for mobile firms 06 May 2014 - 12:55 am

BAGHDAD: Iraq’s Cabinet announced yesterday it has authorised mobile phone firms to use third-generation frequencies, after years of promises amid the frustrated pleas...

Egypt pound hits 10-month low 06 May 2014 - 12:54 am

CAIRO: The Egyptian pound hit a 10-month low yesterday as the central bank let the local currency weaken further, while a persistent dollar...

QE launches NY, London roadshows 05 May 2014 - 01:03 am

DOHA: Qatar Exchange (QE), in collaboration with QNB Financial Services commenced a week-long roadshow to support QE listed companies’ investor relations, ahead of...

Project Qatar to draw huge global crowd 05 May 2014 - 01:01 am

Officials giving details of the upcoming Project Qatar 2014 at a press conference held in Doha yesterday. Doha: Global companies are bullish on...

Buffett defends Coke, BNSF at Berkshire annual meeting 05 May 2014 - 01:00 am

Buffett tastes an ice cream during the trade show at the meeting in Omaha. OMAHA: Warren Buffett defended his recent controversial vote on...

New York to turn into Wi-Fi hot spot 05 May 2014 - 12:57 am

People walk by a public phone on a Manhattan street in New York City. New York will turn underused phone booths into Wi-Fi...