Business

European refiners buy Emirati oil to cover shortage 17 Jul 2013 - 07:48 am

LONDON/SINGAPORE: Two cargoes of Emirati crude oil are heading to Europe in a rare arbitrage move as European refiners try to find cheap...

Bank Dhofar aims for merger talks with smaller peer 17 Jul 2013 - 06:56 am

DUBAI: Oman’s Bank Dhofar has approached smaller peer Bank Sohar with a view to merging to create Oman’s second-largest bank, Dhofar said yesterday,...

China accuses Glaxo of bribery, misconduct 16 Jul 2013 - 05:04 am

A Chinese national flag flutters in front of a GlaxoSmithKline (GSK) office building in Shanghai. The British drugmaker allegedly used travel agencies and...

Nakilat’s first half profit drops 16 Jul 2013 - 05:03 am

DOHA: The Qatar Gas Transport Company (Nakilat) has seen its profits dip in the first half of 2013 due to a loss on...

Qatari firms adopt smarter business practices: Survey 16 Jul 2013 - 05:02 am

Mazin Khoury, CEO of American Express Middle East. DOHA: Companies in Qatar are investing in more comprehensive expense management practices as part of...

Wall Street rises slightly after Citigroup earnings 16 Jul 2013 - 05:02 am

NEW YORK: US stocks edged up yesterday after hitting record highs in the previous session, as mixed US economic data offset rosy earnings...

China Construction Bank to set up Luxembourg base 16 Jul 2013 - 05:02 am

BRUSSELS: The China Construction Bank is to set up its European base in Luxembourg, the latter’s Finance Minister Luc Frieden announced yesterday. The...

Saudi falls from 15-month high on weak earnings; Gulf mixed 16 Jul 2013 - 05:02 am

DUBAI: Saudi Arabia’s bourse slipped off a 15-month high yesterday as earnings misses from petrochemical firms spurred profit-taking, while other regional markets were...

Moody’s puts Singapore banks on negative outlook 16 Jul 2013 - 05:01 am

SINGAPORE: Credit rating agency Moody’s yesterday downgraded the outlook of Singapore’s three main banks to “negative” from “stable” amid rising property prices and...

Nissan revives Datsun to woo emerging market buyers 16 Jul 2013 - 05:00 am

Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, with hatchback ‘Datsun Go’ after its launch in Gurgaon on the outskirts of New...

Central bank hikes rates to stop rupee slide 16 Jul 2013 - 05:00 am

MUMBAI: India’s central bank hiked two interest rates late yesterday to support the ailing rupee in a move that could slow the recovery...

UK charges 2 brokers over rate scandal 16 Jul 2013 - 05:00 am

LONDON: Britain’s fraud prosecutor yesterday charged two former brokers at interdealer broker RP Martin with conspiracy to defraud, stepping up its investigation into...

Islamic Holding Group records QR4.4m net profit 16 Jul 2013 - 04:44 am

DOHA: The Islamic Holding Group’s net profit for the first half of 2013 reached QR4.4m, compared with QR4.1m for the same period in...

UK charges 2 brokers over rate scandal 16 Jul 2013 - 04:44 am

LONDON: Britain’s fraud prosecutor yesterday charged two former brokers at interdealer broker RP Martin with conspiracy to defraud, stepping up its investigation into...

QIIB posts QR366m H1 profit 16 Jul 2013 - 03:39 am

Sheikh Dr Khalid bin Thani Al Thani & Jamal Al Jamal DOHA: The International Islamic’s (Qatar International Islamic Bank or QIIB) net profit...

BCDR rules in favour of Barwa 15 Jul 2013 - 01:39 am

DOHA: In a significant ruling, the Bahrain Chamber of Dispute Resolution (BCDR) has ordered two prominent Bahraini companies to repay Barwa International SPC,...

QSRTC completes tests on fiber-optic seismic system 15 Jul 2013 - 01:33 am

DOHA: Qatar Shell Research & Technology Centre (QSRTC) successfully completed the field testing of a new fiber-optic seismic system. Making use of cutting-edge...

World’s largest container carrier 15 Jul 2013 - 01:32 am

The Maersk Mc-Kinney Moller, the world’s largest container carrier, which was built in Okpo, South Korea, is scheduled to enter South Korea’s largest...