Business

Berkshire adds $3.7bn ExxonMobil stake 17 Nov 2013 - 08:10 am

A view of the ExxonMobil refinery in Baytown, Texas. NEW YORK: Berkshire Hathaway Inc has reported a stake in ExxonMobil Corp valued at...

JPMorgan Chase to pay investors $4.5bn over mortgage bonds 17 Nov 2013 - 08:09 am

NEW YORK: JPMorgan Chase said on Friday that it had reached a deal with 21 institutional investors to pay $4.5bn for losses on...

H&M grabs more control in Bangladesh 17 Nov 2013 - 08:09 am

STOCKHOLM: Three decades after it started doing business with suppliers in Bangladesh, Hennes & Mauritz is seeking greater control of production in a...

Trade deal will not pander to big business, say US and EU 17 Nov 2013 - 08:09 am

BRUSSELS: US and EU trade negotiators rejected accusations on Friday that they are pandering to multinational companies in their push to agree the...

Commodity prices mixed on stimulus outlook 17 Nov 2013 - 07:49 am

LONDON: Commodity prices traded mixed this week as dealers reacted to US stimulus expectations amid weaker growth worries across the globe. Raw material...

Cyprus to lift capital controls within months 17 Nov 2013 - 07:48 am

BRUSSELS: Cyprus is likely to completely lift controls on capital movement within months, finance minister Harris Georgiades said on Friday, ending a controversial...

Hyundai to launch Sonata, Genesis models in the US 17 Nov 2013 - 07:48 am

Michigan: Hyundai Motor Co will launch new versions of its Sonata and Genesis sedans and a hydrogen-fueled Tucson crossover in the United States...

China signals shift to put market in charge of IPOs 17 Nov 2013 - 06:59 am

SHANGHAI: China may reduce the influence of the state on stock markets as part of its sweeping reform agenda, including by making it...

Zimbabwe industries rust 16 Nov 2013 - 04:44 am

An employee works in a fridge manufacturing company in the capital Harare, yesterday. Across Zimbabwe, dozens of factories lie idle with peeling paint,...

World Bank to set up Lebanon trust fund 16 Nov 2013 - 04:44 am

BEIRUT: The World Bank will set up a trust fund to raise hundreds of millions of dollars to help Lebanon bear the cost...

Gold down as investors assess Yellen comments on stimulus 16 Nov 2013 - 04:43 am

LONDON: Gold edged lower yesterday as investors took profits after two days of gains sparked by assurances from the likely new Federal Reserve...

Oil holds above $108, set for biggest weekly gain since July 16 Nov 2013 - 04:43 am

LONDON: Brent oil held above $108 a barrel yesterday, heading for its biggest weekly gain since early July on expectations the Federal Reserve...

Newcomers step in as oil majors ditch North Sea fields 16 Nov 2013 - 04:43 am

LONDON: Ageing North Sea fields are being abandoned by oil majors and increasingly rely on national oil companies (NOC) from countries such as...

US Treasury chief sees Asia-Pacific free trade deal by year-end 16 Nov 2013 - 04:42 am

BEIJING: US Treasury Secretary Jacob Lew yesterday expressed confidence that an ambitious Asia-Pacific free trade pact under negotiation can be clinched by the...

Boeing set to dominate Dubai Air Show 16 Nov 2013 - 04:41 am

DUBAI: Perennial foes Airbus and Boeing get set for another skirmish at the Dubai Air Show today, with the US plane maker tipped...

Malaysian economy picks up steam 16 Nov 2013 - 04:41 am

KUALA LUMPUR: Malaysia’s economy grew at a better-than-expected 5.0 percent on year in the third quarter fuelled by robust domestic demand and an...

Bank of England can’t ignore inflation expectations 16 Nov 2013 - 04:41 am

LONDON: The Bank of England cannot turn a blind eye to increases in inflation expectations which have picked up and may need to...

London listing values Terra Firma’s Infinis at $1.3bn 16 Nov 2013 - 04:40 am

LONDON: Private equity-backed renewable energy generator Infinis Energy priced its London stock market listing at the bottom of its offer range yesterday, valuing...