Business

Shandong orders 50 Boeing planes for $4.6bn 23 Apr 2014 - 12:44 am

BEIJING: Shandong Airlines, one of China’s smaller carriers, said it has agreed to buy 50 passenger planes from US manufacturer Boeing for $4.6bn,...

US gas prices at 13-month high 23 Apr 2014 - 12:43 am

Gabrielle Smith pumps gas at the Victory gas station yesterday in Florida. According to the Lundberg Survey, the average price for a gallon...

Samsung demands $6m in Apple row 23 Apr 2014 - 12:39 am

New York: Samsung has claimed that Apple’s FaceTime feature infringes its video call patent, as the trial between the two technology companies intensifies....

Kenya to seek natural gas from Qatar for power plant 23 Apr 2014 - 12:39 am

NAIROBI: Kenya will negotiate the import of natural gas from Qatar Gas to fuel a power station it wants to build in the...

UDC selling land worth QR1.45bn 23 Apr 2014 - 12:38 am

DUBAI: United Development Co, a real estate company developing The Pearl residential complex on an artificial island in Doha, said it had agreed...

Al Khaliji posts QR109m net profit in Q1 23 Apr 2014 - 12:38 am

DOHA: Al Khaliji (KCBK) yesterday reported net profit of QR109m for the first quarter ended March 31. Loans and advances for the period...

Philips reports 15pc profit slump 23 Apr 2014 - 12:38 am

THE HAGUE: Electrical appliance group Philips reported a 15-percent slump in net first quarter profit, blaming a weak performance by its new strategic...

Mideast body agrees $500m National Petro Services buy 23 Apr 2014 - 12:37 am

DUBAI: A consortium of Gulf-based investors including Fajr Capital and Arab Petroleum Investment Corp (APICORP) have agreed on a deal to acquire Dubai-based...

Emaar Properties profit up 55pc 23 Apr 2014 - 12:37 am

DUBAI: Dubai’s Emaar Properties reported a 55 percent rise in first-quarter net profit, as the region’s economic recovery brought consumers back to its...

Oman expects 5pc growth in 2014 with steady oil prices 23 Apr 2014 - 12:36 am

AMMAN: Oman’s economy should grow 4 to 5 percent this year, underpinned by stable oil prices and the billions of dollars spent on...

UAW suddenly retreats from fight at VW 23 Apr 2014 - 12:36 am

DETROIT: The United Auto Workers, surprising even its supporters, on Monday abruptly withdrew its legal challenge to a union organising vote that it...

UniCredit, Intesa partner with KKR on loan rejig 23 Apr 2014 - 12:36 am

MILAN: Italy’s two biggest banks, Intesa Sanpaolo and UniCredit, have signed a deal with US private equity firm KKR and restructuring adviser Alvarez...

Portugal due to exit bailout in May 23 Apr 2014 - 12:36 am

LISBON: Portugal’s international lenders started yesterday their last evaluation of its performance under its bailout, with further reforms on the agenda and the...

Egypt’s SODIC posts net loss of $64m 23 Apr 2014 - 12:35 am

CAIRO: Egyptian property developer SODIC swung to a net loss of 447.1m Egyptian pounds ($64m) last year, due to one-off items including a...

Abu Dhabi Commercial Bank net profit climbs 15pc 23 Apr 2014 - 12:07 am

DUBAI: Abu Dhabi Commercial Bank reported a 15 percent increase in first-quarter net profit yesterday, beating analysts’ expectations, as the lender benefited from...

Kuwait Oil posts KD1.13bn profits 23 Apr 2014 - 12:06 am

Kuwait: Kuwait Oil Company (KOC) said profits for 2013-14 fiscal year ending on March 31, amounted to KD1.13bn. KOC CEO Hashem Hashem said...

GIS net profit up 38.9pc to QR188.6m 22 Apr 2014 - 01:28 am

H E Dr Mohamed bin Saleh Al Sada DOHA: Gulf International Services (GIS), the largest service group in Qatar with interests in a...

Online initiatives for businessmen launched 22 Apr 2014 - 01:25 am

Doha: The Ministry of Economy and Commerce yesterday announced online service for businessmen and consumers. The initiative will allow businessmen to get various...