Business

New CEO for Jet Airways 13 Jun 2013 - 11:41 pm

NEW DELHI: Jet Airways yesterday appointed Gary Kenneth Toomey as its new chief executive, two months after a landmark deal in which Abu...

Tasweeq, Pearl load first GTL jet fuel cargo 13 Jun 2013 - 01:30 am

Representatives from Tasweeq, Qatar Shell and Qatar Petroleum celebrate the loading of first GTL-blended jet fuel cargo. DOHA: Qatar International Petroleum Marketing Company...

MSCI upgrade a shot in the arm for QE: Experts 13 Jun 2013 - 01:30 am

DOHA: Morgan Stanley Capital International’s (MSCI) decision to upgrade Qatar will render significant impetus to Qatar’s financial market. Welcoming the index compiler’s decision...

Austrian firm Porr to sign €1.89bn Qatar metro deal 13 Jun 2013 - 01:29 am

VIENNA: Austrian construction firm Porr announced yesterday it was to sign a ¤1.89bn ($2.5bn) contract to build one of Doha’s new metro lines,...

Gulf currency shifts likely: QCB governor 13 Jun 2013 - 01:29 am

DUBAI: A statement on foreign exchange policy by Qatar’s Central Bank governor has struck a nerve in financial markets across the Gulf, reminding...

Oil rises on supply concerns, demand outlook caps gains 13 Jun 2013 - 01:29 am

NEW YORK/LONDON: Crude oil prices were marginally higher yesterday, supported by worry over global supply disruptions but capped by an unexpected jump in...

EU-China steel tussle 13 Jun 2013 - 01:24 am

A worker loads steel bars for export at a port in Lianyungang, Jiangsu province, yesterday. The European Union plans to lodge a complaint...

British banks announce Libor reforms 13 Jun 2013 - 01:20 am

LONDON: The British Bankers’ Association yesterday announced changes to Libor interest-rate transparency in a bid to avoid a repeat of last year’s rate-rigging...

Doha Bank launches Al Hayer GCC, Mena Fund 13 Jun 2013 - 01:19 am

DOHA: Doha Bank, has launched “Al Hayer GCC & Mena Fund” for Qatari Individuals, Corporates and Institutions. It is an open-ended fund that...

India posts weak industrial output 13 Jun 2013 - 01:12 am

NEW DELHI: India’s industrial output grew by a weaker-than-expected two percent in April but the grim data Wednesday was offset by global ratings...

Sri Lanka allows foreigners to take out capital 13 Jun 2013 - 01:12 am

COLOMBO: Sri Lanka yesterday announced the easing of foreign exchange controls to allow foreigners to repatriate capital as well as profits from real...

Qatar’s annual inflation rate hits 3.5 percent 13 Jun 2013 - 01:11 am

DOHA: Qatar’s inflation, based on consumer price index (CPI), rose 3.5 percent year-on-year (y-o-y) and the index was slightly up by 0.1 percent...

Greece back in crisis mode on TV shutdown 13 Jun 2013 - 01:10 am

Greece’s public TV employees broadcast a Web-TV signal in a control room at the ERT headquarters in Athens yesterday, a day after a...

Oman needs to cut down on spending: IMF 13 Jun 2013 - 01:09 am

DUBAI: Oman needs to contain state spending and raise non-oil revenue in the medium term to keep its fiscal balance sustainable, the International...

IKEA Doha receives 500,000 visitors in three months 13 Jun 2013 - 01:08 am

DOHA: Swedish home furnishing ginat IKEA’s newly-opened store in Qatar witnessed over 500,000 visitors in just three months, a press statement said yesterday. ...

BAE Systems names new chairman 13 Jun 2013 - 01:08 am

LONDON: British arms maker BAE Systems appointed yesterday business veteran Roger Carr as its new Chairman, replacing Dick Olver who came under pressure...

Kuwait invites bids for solar energy project 13 Jun 2013 - 01:07 am

KUWAIT CITY: Kuwait invited bids yesterday to build a solar farm to produce 70 megawatts of electricity by 2016, the first phase of...

Flying bicycle 13 Jun 2013 - 01:06 am

A man takes pictures of a flying bicycle carrying a dummy during a public presentation at Letnany’s fair hall in Prague, yesterday. The...