Business

UK shale gas firm plans summer drilling 08 May 2013 - 11:23 pm

LONDON: UK shale gas company Cuadrilla Resources plans to undertake four months of exploration drilling work this summer at a site to the...

EU to impose duty on China solar panels 08 May 2013 - 11:22 pm

Large solar panels in a power plant in Hami, northwest China’s Xinjiang Uygur Autonomous Region, yesterday. BRUSSELS: The European Commission agreed yesterday to...

Kuwaiti media, politicians fume over $2.2bn Dow penalty 08 May 2013 - 11:22 pm

KUWAIT CITY: Kuwaiti politicians and media fumed yesterday over $2.2bn paid to US giant Dow Chemical as a penalty for the Gulf emirate...

Almarai eyes $500m from international sukuk: CFO 08 May 2013 - 11:21 pm

RIYADH: Saudi Arabian dairy producer Almarai Co plans to raise at least $500m from the sale of a debut international Islamic bond to...

UAE central bank shuts two money exchange firms 08 May 2013 - 11:21 pm

ABU DHABI: The United Arab Emirates, a major financial hub in the Middle East, has revoked the licences of two money exchange companies...

Adidas annual general meeting 08 May 2013 - 11:19 pm

Shareholders of Adidas, the world’s second largest sports apparel firm, arrive for the annual general meeting in the northern Bavarian town of Fuerth...

Qatari bourse index rises by 12.64 points 08 May 2013 - 11:19 pm

Doha: Qatar Exchange pursued its upswing trend yesterday, adding 12.64 points or 0.14 percent to advance to 8,858.29 points from 8,845.65 on Tuesday....

Tunisia stock market stirs, points to stronger economy 08 May 2013 - 11:16 pm

TUNIS: Tunisia is struggling with rising inflation, a big external deficit and an uncertain political outlook. These obstacles did not deter local businessman...

First quarter net profit of TAQA down 80 percent 08 May 2013 - 11:16 pm

ABU DHABI: Abu Dhabi National Energy Co (TAQA), the state-owned oil explorer and power supplier, yesterday said first-quarter net profit tumbled 80 percent...

Toshiba quarterly profit tumbles 08 May 2013 - 11:15 pm

TOKYO: Japan’s Toshiba said yesterday that its quarterly net profit tumbled 62 percent from a year earlier as demand for its televisions, computers...

Full-year net profit triples to $9.7bn: Toyota 08 May 2013 - 11:14 pm

A visitor walks past a Toyota car at a showroom in Tokyo yesterday. TOKYO: Toyota yesterday said its full-year net profit more than...

GPA technical conference 08 May 2013 - 01:33 am

Fahad Al Subaiey (left) Chairman, Gas Process Association (GPA), addressing the 21st Annual Technical Conference Programme organised by the GCC Chapter of GPA...

Stable outlook for seven Qatari banks: Fitch 08 May 2013 - 01:32 am

DOHA: Global rating agency, Fitch Ratings, in its latest peer review report has affirmed seven Qatari banks, both conventional and Islamic, with stable...

Dubai looking at alternative plan to repay debt if asset sale fails 08 May 2013 - 01:32 am

DUBAI: Favourable market conditions may prompt Dubai to issue another sovereign bond this year, a top official said yesterday, adding that the emirate...

German industrial orders rise 08 May 2013 - 01:30 am

New cars of Volkswagen, Mercedes-Benz, BMW and Porsche ready for shipping in the harbour of Bremerhaven, Germany. German industrial orders posted a surprise...

Airbus sales help cut French trade deficit 08 May 2013 - 01:30 am

PARIS: France showed a sharply reduced trade deficit of ¤4.69bn ($6.1bn) in March from ¤6.01bn in February, owing mainly to the sale of...

Energy subsidies distort Saudi economy: Minister 08 May 2013 - 01:30 am

RIYADH: Saudi Arabia should cut energy subsidies that are burdening public finances, the economy minister and the head of the state-run utility said,...

Oil prices retreat on profit-taking 08 May 2013 - 01:29 am

LONDON: Global oil prices fell yesterday as dealers took profits after a recent rally on robust US jobs data and rising tensions in...