Business

WEF meeting in Myanmar 09 Jun 2013 - 01:14 am

Myanmar opposition leader Aung San Suu Kyi (left) with Philippine President Benigno Aquino (right) and Myanmar lower house speaker Shwe Mann (centre) on...

Nigeria aims to reduce domestic borrowing next year: Minister 09 Jun 2013 - 12:58 am

ABUJA: Nigeria plans to reduce its domestic borrowing next year while increasing cheaper overseas debt to lower costs in Africa’s second largest economy,...

ICE chief ready to cede NYSE market share 09 Jun 2013 - 12:57 am

NEW YORK: The New York Stock Exchange may cede some of its share in US stocks in an effort to end large trading...

European stocks advance on US jobs data 08 Jun 2013 - 02:27 am

A jobs sign is seen on the front of the US Chamber of Commerce building in Washington, DC. The US economy continued to...

France widens tax probe of Swiss bank UBS 08 Jun 2013 - 02:27 am

PARIS: Swiss bank UBS has been placed under formal investigation for alleged complicity in suspected illegal sales practices, the French prosecutor’s office said...

Consortium led by Kuwaiti wealth fund offers $8.2bn for Severn Trent 08 Jun 2013 - 02:27 am

LONDON: A consortium led by a Kuwaiti sovereign wealth fund and two pension companies raised its proposed offer for Severn Trent to £5.3bn...

Asian spot LNG prices stable 08 Jun 2013 - 02:26 am

LONDON: Asian spot liquefied natural gas prices were little changed this week as global output showed signs of rebounding amid tame demand from...

Walmart unveils $15bn share buyback plan 08 Jun 2013 - 02:26 am

NEW YORK: US retail behemoth Walmart yesterday announced a $15bn share repurchase programme, citing the continued benefits of the company’s strong cash flow....

Rolls-Royce Wraith 08 Jun 2013 - 02:25 am

Rolls-Royce Motor Cars employees present an all-new Rolls-Royce Wraith during the unveiling of a new Rolls-Royce showroom in the Russia’s second city of...

Centrica talks show shale promise 08 Jun 2013 - 02:25 am

LONDON: A significant new investor in Britain’s shale industry suggests there are prizes to be had, but big oil companies are unlikely to...

Ambani brothers sign $2.1bn telecoms deal 08 Jun 2013 - 02:24 am

MUMBAI: India’s billionaire Ambani brothers announced yesterday a $2.1bn deal to share telecom tower infrastructure, cementing a reconciliation between the once-warring siblings. The...

Saudi oil output rises to 9.6m b/d in May: Report 08 Jun 2013 - 02:24 am

DUBAI: Saudi Arabia produced 9.6 million barrels per day (b/d) of oil in May, up from 9.3m b/d in April, an industry source...

Noble Energy starts drilling off Cyprus to assess gas 08 Jun 2013 - 02:23 am

NICOSIA: US firm Noble Energy said yesterday that it has started drilling off the southern shores of Cyprus to assess if there is...

Exit strategies, spillovers vex G20 finance officials 08 Jun 2013 - 02:22 am

ST PETERSBURG: The Group of 20 nations is intensifying its debate on how to withdraw the fiscal and monetary stimulus measures that developed...

European stocks fall as ECB, BoE fail to stimulate 07 Jun 2013 - 08:07 am

A trader working on the floor of the New York Stock Exchange yesterday. LONDON: European equities fell yesterday after the ECB and Bank...

QE index down a tad 07 Jun 2013 - 08:07 am

DOHA: Qatari stocks fell marginally yesterday showing no impact of Wednesday’s news reports hinting that plans were under way to encourage companies to...

Qatari Diar steps in with QR26bn support for Barwa 07 Jun 2013 - 08:07 am

DOHA: Qatar stepped in with QR26bn ($7.1bn) of financial support for its ailing property firm Barwa Real Estate yesterday, buying some key assets...

Prince Alwaleed sues Forbes over Rich List 07 Jun 2013 - 08:06 am

LONDON: Saudi Arabia’s Prince Alwaleed bin Talal, one of the world’s wealthiest businessmen who owns assets including London’s Savoy hotel, has launched a...