Business

UK oil firms spend huge, but output dips 25 Feb 2014 - 11:39 pm

LONDON: Britain’s oil and gas companies spent a record £8.9bn ($15bn) in 2013 to produce eight percent less fossil fuel than the year...

Qantas likely to cut 5,000 jobs 25 Feb 2014 - 11:38 pm

SYDNEY: Struggling Australian carrier Qantas yesterday said it was committed to slashing costs by Aus$2bn ($1.8bn) but refused to confirm or deny a...

Reliance oil imports down 14.2pc, skips Iraq crude 25 Feb 2014 - 11:37 pm

Mumbai: India’s Reliance Industries Ltd, owner of the world’s biggest oil refining complex, imported 14.2 percent less crude in January compared with the...

QIB gets new board, Sheikh Jassim is chairman 25 Feb 2014 - 01:06 am

Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani flanked by Abdullatif bin Abdulla Al Mahmmoud (left) and Mohammad bin Abdullatif Al...

‘Qatar needs to deepen debt market’ 25 Feb 2014 - 01:00 am

Marios Maratheftis (left) and Charles Carlson. Kammutty VP By Satish Kanady DOHA: Qatar needs to deepen its domestic debt market as issuing government...

Britain plans oil regulator to lift output 25 Feb 2014 - 12:59 am

Britain’s Prime Minister David Cameron (left) visits the BP Eastern Trough Area Project oil platform in the North Sea yesterday. LONDON: Britain urgently...

‘Leaner’ HSBC profits jump to $16.2bn 25 Feb 2014 - 12:58 am

People queue at an ATM of an HSBC branch in Hong Kong. LONDON: HSBC announced yesterday a 15.5-percent rise in annual net profits...

Inside Honda Amaze factory 25 Feb 2014 - 12:57 am

Employees work at the assembly line of the Honda Amaze car inside the company’s manufacturing plant in Tapukara, in India’s Rajasthan, yesterday.

Loan-to-deposit ratio surges to 107pc 25 Feb 2014 - 12:56 am

DOHA: Qatari banking sector’s loan-to-deposit ratio (LDR) increased to 107 percent at the end of January 2014 against 105 percent in December 2013. ...

QIC’s Antares buyout is credit positive: Moody’s 25 Feb 2014 - 12:56 am

DOHA: The acquisition of Antares Holdings Limited by Qatar Insurance Company (at regulatory approval stage) is “credit positive” for both QIC and Lloyd’s...

Nakilat posts QR756m 2013 operating profit 25 Feb 2014 - 12:55 am

DOHA: Qatar Gas Transport Company (Nakilat) yesterday reported an operating profit of QR756m ($207.60) for the year ended December 31, 2013. The board...

Arabtec in talks to buy Kuwaiti firm 25 Feb 2014 - 12:55 am

DUBAI: Arabtec Holding, Dubai’s largest listed construction firm, is in the advanced stages of talks to fully acquire a construction company in Kuwait’s...

Commercial Bank completes $1bn term loan facility 25 Feb 2014 - 12:55 am

DOHA: Commercial Bank announced the successful completion of a $1bn senior unsecured term loan facility. The lender group consists of 21 major banks...

EU, IMF begin new talks for Greece debt 25 Feb 2014 - 12:54 am

ATHENS: EU-IMF creditors began a new audit of Greek finances yesterday, with Athens hoping for a deal in two weeks to help it...

GE to spend another $10bn on energy research by 2020 25 Feb 2014 - 12:54 am

New York: General Electric Co plans to intensify research focusing on complex energy projects such as waterless fracking and gas turbine efficiency by...

Saudi Aujan plans $100m Egypt factory 25 Feb 2014 - 12:53 am

DUBAI: Saudi Arabia’s Aujan Coca-Cola Beverages Company plans to spend $100m building a fruit-juice factory in Egypt over the next few years, a...

$750m five-year bond from ADCB 25 Feb 2014 - 12:53 am

DUBAI: Abu Dhabi Commercial Bank has set final terms for a $750 million five-year bond, a document from lead arrangers said, as demand...

Essar Energy rejects founders’ bid 25 Feb 2014 - 12:53 am

London: Essar Energy Plc rejected a possible buyout bid from its majority shareholders, saying the offer of about £900m ($1.50bn) undervalued the London-listed...