Business

Ikea founder’s son to become chairman 06 Jun 2013 - 12:50 am

STOCKHOLM: Ikea founder Ingvar Kamprad is stepping down from the board of Inter Ikea, owner of the furniture giant’s concept and brand, as...

MSCI upgrade for UAE likely next week 06 Jun 2013 - 12:49 am

An investor walks past electronic boards displaying stock information at the ADX Abu Dhabi Securities Exchange. DUBAI: Investors are betting that the United...

Qatari bourse index loses 4.73 points 06 Jun 2013 - 12:49 am

Doha: Qatar Exchange index lost 4.73 points or 0.05 percent to hit 9,305.81 points from the previous closing of 9,310.54 points. The volume...

Stock investors head back to Egypt 06 Jun 2013 - 12:48 am

LONDON: International investors are being tempted back into Egyptian stocks, after taking a breather this year, viewing a selloff on renewed signs of...

Project wins to boost Arabtec earnings 06 Jun 2013 - 12:48 am

DUBAI: Arabtec Holding expects a series of recent contract wins to boost its 2013 earnings and the Dubai contractor is targeting a dividend...

Zain Saudi signs $600m parent-guaranteed loan 06 Jun 2013 - 12:48 am

DUBAI: Zain Saudi, the kingdom’s third-largest telecom operator, has signed a SR2.25bn ($600m) Islamic loan guaranteed by its parent company. The three-year murabaha...

Ford recalls 400,000 vehicles 05 Jun 2013 - 12:41 am

Brand new Ford Escape SUVs are displayed on the sales lot at Journey Ford in Novato, California, yesterday. Ford announced the recall of...

US blacklists Iranian-linked companies 05 Jun 2013 - 12:40 am

WASHINGTON: A global network of private companies were blacklisted by the United States yesterday for providing revenue to the Iranian government and helping...

Qatar has 143 millionaires for every 1,000 households: Study 05 Jun 2013 - 12:40 am

DUBAI: Wealthy individuals in the Middle East and Africa saw the value of their assets rise by 9.1 percent to $4.8 trillion in...

QInvest receives Euromoney award for best bank in Qatar 05 Jun 2013 - 12:37 am

An official from the QInvest receiving the award in Dubai. DOHA: QInvest has been recognised as ‘Qatar’s Best Investment Bank’ in Euromoney magazine’s...

HSBC faces lawsuit over mortgage laws in New York 05 Jun 2013 - 12:37 am

LOndon: HSBC ignored a law designed to protect struggling homeowners and in doing so put them at greater risk of losing their homes,...

QIBWF to be held on November 11, 12 05 Jun 2013 - 12:36 am

DOHA: The fourth annual session of the Qatar International Businesswomen Forum-2013 (QIBWF 2013) will be taking place from November 11 to 12 here...

Record technical papers for petroleum meet 05 Jun 2013 - 12:35 am

The participants at the Technical Programme Committee Selection Meeting, which was held recently in Doha as part of the upcoming International Petroleum Technology...

German giant unveils $13bn investment plan 05 Jun 2013 - 12:35 am

FRANKFURT: German chemicals giant BASF unveiled yesterday plans for a huge investment drive in the Asia-Pacific region, where it hopes to take advantage...

Italy, Spain seek to reduce gas imports 05 Jun 2013 - 12:34 am

LONDON: Italy and Spain aim to reduce their dependence on North African natural gas imports, posing potential trouble for countries including Algeria, the...

Lufthansa open to future co-operation with Gulf airlines 05 Jun 2013 - 12:33 am

CAPE TOWN: The head of Germany’s Lufthansa eased open the door to rival Gulf carriers, saying he would not rule out future commercial...

Islamic banks can help fund Asia’s infrastructure needs 05 Jun 2013 - 12:31 am

Mohammad Al Hashel, the Governor of the Central Bank of Kuwait, speaks at the 4th Annual World Islamic Banking Conference (WIBC) Asia Summit...

Oil prices rebound in line with world markets 05 Jun 2013 - 12:31 am

LONDON: Global oil prices rebounded yesterday, reversing earlier losses on the back of buoyant global stock markets, while traders also shrugged off Chinese...