Business

Dubai’s April inflation remains low 16 May 2013 - 05:04 am

DUBAI: Dubai’s inflation remained muted in April compared to the previous month despite a jump in rents, data showed yesterday. Consumer price growth...

Oil pricing probe widens as Britain vows tougher action 16 May 2013 - 12:50 am

Fuel pumps at a Shell petrol station in London yesterday. LONDON: Oil companies will face the full force of the law if they...

BoE report lifts gloom on economy 16 May 2013 - 12:49 am

LONDON: Britain’s central bank lifted a bit of the gloom hanging over the economy yesterday, issuing a slightly improved outlook for inflation and...

India to launch inflation-linked bonds to end reliance on gold 16 May 2013 - 12:49 am

NEW DELHI: India’s central bank announced yesterday it would launch inflation-linked bonds to try to break the country’s love affair with gold and...

Seoul to scrap diesel, petrol import tax break in July 16 May 2013 - 12:49 am

SEOUL: South Korea said it will scrap a diesel and petrol import incentive from July as local refiners plan to start trading oil...

HSBC to cut more costs by 2016 16 May 2013 - 12:42 am

LONDON: Asia-focused bank, HSBC, yesterday announced that it will make another $2bn-$3bn of new cost savings by 2016, extending its restructuring plans. The...

Turkey’s monetary policy finally wins respect 16 May 2013 - 12:41 am

DUBAI: When Turkey’s central bank cut interest rates last month, its decision aroused a mixture of approval, criticism and sheer confusion about exactly...

South Korea imports Iranian natural gas liquids in April 16 May 2013 - 12:40 am

SEOUL: South Korea imported natural gas liquids from Iran for the second straight month in April, customs data showed yesterday, though a source...

Sudan firm to export animal feed to Gulf 16 May 2013 - 12:39 am

KENANA SUGAR PLANT, Sudan: Sudan’s biggest sugar producer plans to export up to 50,000 tonnes of animal feedstock annually to Arab Gulf countries....

Arqaam Capital eyes expansion in South Africa, Saudi Arabia 16 May 2013 - 12:39 am

DUBAI: Dubai-based investment bank Arqaam Capital plans to expand into sub-Saharan Africa by the fourth quarter this year and may look at acquisitions...

QP subsidiary renamed Alwaseeta 15 May 2013 - 02:31 am

The Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada and Vice Chairman and Managing Director of Alwaseeta, Ali...

QPI hopes to extend Centrica deal 15 May 2013 - 02:31 am

DOHA: Qatar Petroleum International (QPI) hopes to extend its new deal with Britain’s Centrica by acquiring more gas or tight oil resources across...

Oil majors probed over price fixing 15 May 2013 - 02:31 am

BRUSSELS: The European Commission yesterday said it carried out surprise inspections at several major oil companies over possible price fixing in breach of...

BG tightens focus on LNG exploration 15 May 2013 - 02:30 am

LONDON: Oil and gas group BG will focus on exploration, liquefied natural gas (LNG) and selling or partnering more of its discoveries as...

US shale oil boom leaves Opec sidelined 15 May 2013 - 12:50 am

LONDON: Rising US shale oil production will help meet most of the world’s new oil demand in the next five years, even if...

Australia unveils $43bn austerity drive in budget 15 May 2013 - 12:49 am

Australian Prime Minister Julia Gillard watches as her Treasurer Wayne Swan delivers his budget speech to the House of Representatives in Canberra yesterday....

France gets support for EU-US trade talks 15 May 2013 - 12:49 am

BRUSSELS/PARIS: France has secured backing from other EU member states for the exclusion of the movie and television industries from a proposed free-trade...

OECD: Global economies on the mend 15 May 2013 - 12:48 am

PARIS: Global economies are on the mend, but growth is likely to remain below trend in India, the OECD said yesterday. Looking at...