Business

Hollande says France will not buy troubled Swiss refinery 06 Jan 2013 - 01:06 am

VAL-DE-REUIL, France: France will not take over insolvent Swiss refiner Petroplus’ oil refinery in Normandy, but could help the plant financially once a...

Singapore Airlines asks pilots to volunteer for unpaid leave 06 Jan 2013 - 01:05 am

SINGAPORE: Singapore Airlines has asked its captains to volunteer for unpaid leave amid a global economic slowdown that has dented long-haul travel demand,...

Don’t play games with debt ceiling: Obama 06 Jan 2013 - 01:05 am

WASHINGTON: US President Barack Obama warned Congressional Republicans yesterday against playing a “dangerous game” with the economy as lawmakers prepared for a new...

Romanian statistics chief loses job for erring on GDP projection 06 Jan 2013 - 01:05 am

BUCHAREST: Romanian Prime Minister Victor Ponta has sacked the country’s chief statistician, accusing him of “severe error” in his projection of GDP for...

Generous tariffs give boost to German solar power capacity 06 Jan 2013 - 01:04 am

BERLIN: New solar power installations in Germany hit a record high last year but tapered off in the fourth quarter as subsidies were...

Electronics show in Nevada 06 Jan 2013 - 01:01 am

Workers prepare the Panasonic booth for the International Consumer Electronics Show (CES) at the Las Vegas Convention Center in Las Vegas, Nevada yesterday....

Belgium airport fears TNT exit, eyes FedEx deal 06 Jan 2013 - 01:01 am

BRUSSELS: Belgium’s Liege airport, one of Europe’s busiest freight hubs, hopes to entice US parcel delivery firm FedEx away from Paris airports should...

QNB Group revises up 2012 growth estimate 06 Jan 2013 - 01:01 am

DOHA: QNB Group has revised up its estimate for Qatar’s overall real GDP growth in 2012 to 6.1 percent, from 5.6 percent previously,...

Spanish banking unions brace for more job cuts 06 Jan 2013 - 01:00 am

MADRID: Spanish banking unions are braced for thousands more job cuts this year, starting with redundancies at Spain’s largest bank Santander after its...

French back tax on super-rich but not at 75pc 06 Jan 2013 - 01:00 am

PARIS: Six out of 10 French voters support the introduction of a special tax on incomes above ¤1m per year but a majority...

Sluggish demand for cars 05 Jan 2013 - 01:17 am

Chinese cars wait to be exported at a port in Dalian, Liaoning province. Automakers are bracing for another year of tepid single-digit growth...

First trading day 05 Jan 2013 - 01:06 am

Women, dressed in ceremonial kimonos, pose with the new logo of the Japan Exchange Group in front of an electronic board showing the...

Gold falls to 4½-month low after US data 05 Jan 2013 - 01:06 am

LONDON: Gold fell 2 percent to a 4-1/2 month low yesterday after minutes from the US Federal Reserve highlighted increasing concerns over its...

Hopes rise for Eurozone; US activity picks up 05 Jan 2013 - 01:06 am

NEW YORK/LONDON: Business activity in the United States perked up in the final month of 2012, surveys showed yesterday, while hopes grew that...

India’s Infosys denies reports of 5,000 layoffs 05 Jan 2013 - 01:05 am

MUMBAI: Indian software outsourcing giant Infosys yesterday said it was weeding out under-performing staff and would be asking some to leave, but denied...

After banking crisis, Iceland launches search for black gold After banking crisis, Iceland launches search for black gold 05 Jan 2013 - 01:05 am

REYKJAVIK: Iceland yesterday awarded two exploration and production licences to foreign energy firms hoping to find oil and gas in the northeastern waters...

Record sales for Mercedes in 2012 05 Jan 2013 - 01:04 am

An employee of German car maker Mercedes-Benz checks an S-class car at the end of the production line at the Mercedes-Benz production site...

Retailer Virgin France falls victim to digital sales 05 Jan 2013 - 01:02 am

A pedestrian walks past a Virgin megastore music chain retail outlet in Paris, France, yesterday. PARIS: Entertainment retailer Virgin France has become the...