Business

Petrobras gives papers in money laundering case 12 Apr 2014 - 11:59 pm

RIO DE JANEIRO: Brazil’s Petrobras has turned over documents requested in an investigation into a $4.5m money-laundering operation, the latest in a series...

Microsoft faces lawsuit over browser error 12 Apr 2014 - 11:59 pm

SEATTLE: Microsoft Corp’s board faces a lawsuit over the way it handled an error with its Internet Explorer browser that ended up costing...

Amazon to launch smartphone this year 12 Apr 2014 - 11:58 pm

WASHINGTON: Amazon is preparing to release a smartphone in the second half of 2014, thrusting itself into a market already crowded with Apple...

IAC increases stake in Tinder 12 Apr 2014 - 11:58 pm

New York: The shares of Barry Diller’s IAC/InterActive Corp rose as much as 3 percent to $70.34 on Friday after it increased its...

Greece’s Eurobank gets green light for €2.86bn share issue 12 Apr 2014 - 11:58 pm

ATHENS: Greece’s third-largest lender Eurobank got approval yesterday from the country’s bank rescue fund, its main shareholder, for a €2.86bn share offering to...

Ukraine to get gas from EU as Russia ups curbs 11 Apr 2014 - 11:21 pm

A general view of a liquefied natural gas (LNG) plant, controlled by Gazprom, on Sakhalin island near the town of Korsakov. Russia is...

GM woes persist 11 Apr 2014 - 11:20 pm

Members of the press view the new 2003 Saturn ION quad coup at its debut at the New York International Auto Show in...

Samsung training 11 Apr 2014 - 11:20 pm

A mother holds onto her child during a Samsung Galaxy S5 workshop in Jakarta, yesterday. Samsung Electronics Co Ltd estimated that its January-March...

Ford Mustang turns 50 11 Apr 2014 - 10:37 pm

A 1965 Ford Mustang GT350 is shown in the Ford Pavilion at the 1964 World’s Fair in New York. The car’s styling strikingly...

Shell drops Norway subsea gas project 11 Apr 2014 - 10:32 pm

OSLO: Royal Dutch Shell has dropped one of Norway’s biggest and most innovative industrial projects due to rising costs and complexity, dealing a...

Fitch upgrades Portugal outlook to ‘positive’ 11 Apr 2014 - 10:32 pm

LISBON: Fitch yesterday switched the outlook on Portugal’s BB+ rating from “negative” to “positive”, a month before the eurozone nation exits its international...

Greek bond yields rise as market euphoria fades 11 Apr 2014 - 10:24 pm

LONDON: Greek bond yields rose yesterday as investors booked profits on the rally that preceded Greece’s return to debt markets, with even its...

India economic gloom deepens as exports fall 11 Apr 2014 - 10:24 pm

NEW DELHI: India’s economic gloom deepened yesterday with a surprise contraction in industrial output, a fall in exports and a jump in the...

India car sales shrink for second year 11 Apr 2014 - 10:23 pm

NEW DELHI: Sales of India’s once-booming passenger car segment shrank for a second year, hit by a sharp economic slowdown and high borrowing...

Africa fast growth transforming commodity flows 11 Apr 2014 - 10:23 pm

DAKAR/JOHANNESBURG: For centuries, colonial era merchants tussled for access to Africa’s raw materials, and huge swathes of Africa’s geography became synonymous with the...

IMF hopes new Indonesian leaders keep up reforms 11 Apr 2014 - 10:23 pm

WASHINGTON: The IMF yesterday praised Indonesia for taking decisive measures to avert a meltdown last year and voiced hope that the next government...

Moody’s downgrades Turkey outlook to ‘negative’ 11 Apr 2014 - 10:22 pm

PARIS: Moody’s rating agency yesterday downgraded its outlook on Turkey to “negative”, putting the country’s investment-grade rating at risk, saying political uncertainty was...

IMF tells world to do more on growth 11 Apr 2014 - 06:07 am

IMF Managing Director Christine Lagarde at the news conference in Washington yesterday. WASHINGTON: The International Monetary Fund yesterday urged nations around the world...