Business

Energy giants win Myanmar offshore blocks 27 Mar 2014 - 08:00 am

YANGON: Myanmar named energy giants Chevron, Shell and Total among the winners yesterday of a landmark auction of offshore oil and gas exploration...

UK power utility freezes prices as pressure grows 27 Mar 2014 - 08:00 am

LONDON: British power utility SSE said it would freeze prices and separate its wholesale and retail businesses after an outcry over soaring energy...

Orpic awards two deals for plastics complex 27 Mar 2014 - 07:59 am

MUSCAT: State-owned Oman Oil Refineries and Petroleum Industries Co (Orpic) said it had awarded two contracts for construction of a $3.6bn plastics production...

Phoenix to focus on life business, sells Ignis 27 Mar 2014 - 07:58 am

March: Phoenix Group Holdings said it would use proceeds from the sale of its asset management business to pay down debt, helping it...

Disasters cost $140bn last year: Swiss Re 27 Mar 2014 - 07:42 am

ZURICH: Natural and man-made disasters caused $140bn (¤101bn) of damage worldwide last year, according to a study released yesterday by reinsurance group Swiss...

South Korea raises 2013 GDP growth to 3pc 27 Mar 2014 - 07:42 am

Seoul: South Korea’s economy expanded three percent last, the central bank said yesterday, better than a previous estimate as it was boosted by...

Carpetright warns on profits 27 Mar 2014 - 07:42 am

LONDON: Carpetright, Britain’s biggest floor coverings retailer, has cut its annual profit forecast for the third time in less than six months, saying...

Qatar Exchange upswing trend on, adds 0.19pc 27 Mar 2014 - 07:40 am

Doha: Qatar Exchange pursued its upswing trend yesterday by adding 21.93 points, or 0.19 percent, to advance to 11,331.46 points from 11,309.53 on...

Egypt mulls trade zone with Russia 27 Mar 2014 - 07:40 am

MOSCOW: Egypt has resumed talks about the creation of a free trade zone with the customs union of Russia, Belarus and Kazakhstan, Egyptian...

Siemens plans long-term Russia investment: CEO 27 Mar 2014 - 07:40 am

MOSCOW: The chief executive of Siemens told President Vladimir Putin yesterday the German industrial giant plans long-term investment in Russia, in a key...

UK to sign yuan deal with China next week 27 Mar 2014 - 07:39 am

LONDON: Britain and China will sign an agreement next week to set up the first clearing service for renminbi (yuan) trading outside Asia,...

MPHC signs CBQ to distribute dividends 27 Mar 2014 - 05:17 am

Al Subaey (left) and Al Raisi exchange dividend distribution agreement documents yesterday.Salim Matramkot DOHA: Mesaieed Petro-chemical Holding Company (MPHC) yesterday inked a distribution...

QIB eyes stake in Bank Asya 26 Mar 2014 - 05:58 am

Doha: Qatar Islamic Bank (QIB), Qatar’s leading Islamic bank, yesterday confirmed that it has entered into exclusive discussions to acquire a strategic stake...

Qatar seeks to become region’s business hub 26 Mar 2014 - 05:57 am

HE Ali Sherif Al Emadi delivering the keynote address at the World Exchange Congress yesterday. Kammutty VP Doha: Qatar seeks to become a...

UDC wants to go beyond Pearl boundaries 26 Mar 2014 - 05:56 am

UDC Chairman Turki Mohamed Khaled Al Khater (fourth right) with other officials yesterday. Salim Matramkot BY MOHAMMAD SHOEB DOHA: Faced with a sharp...

Bankers skip big deals for Alibaba IPO 26 Mar 2014 - 05:54 am

An employee walks past a logo of Alibaba Group at its headquarters on the outskirts of Hangzhou, Zhejiang. HONG KONG: Every big bank...

QP showcases operations at Gastech 26 Mar 2014 - 05:53 am

HE Dr Mohamed bin Saleh Al Sada (centre) along with other officials at the QP pavilion in Seoul. Doha/Seoul: Qatar Petroleum (QP) along...

Osborne visits Tata Steel factory 26 Mar 2014 - 05:52 am

Britain’s Chancellor of the Exchequer George Osborne visits Tata Steel in Port Talbot, Wales, yesterday.