Business

US budget cuts to push growth down: IMF 07 Jul 2013 - 11:52 pm

AIX-EN-PROVENCE, France: The US federal budget cuts are an inappropriate measure that will weigh on potential growth, IMF chief Christine Lagarde said yesterday,...

Lagarde hints at cut in IMF growth forecasts 07 Jul 2013 - 11:51 pm

AIX-EN-PROVENCE, France: IMF chief Christine Lagarde yesterday signalled Sunday that her organisation would be lowering slightly its global economic growth forecasts, which are...

IDB presents new debt restructuring offer 07 Jul 2013 - 11:50 pm

Tel Aviv: Indebted Israeli conglomerate IDB Holding presented to a Tel Aviv court a new proposal for a debt restructuring after Argentinian businessman...

Barwa launches commercial property in central London 07 Jul 2013 - 01:17 am

Ahmad Al Abdulla, Deputy CEO of Barwa Real Estate Group, during the launch of the property. DOHA: Barwa Real Estate Group has officially...

NBK sees better non-oil GDP growth in Qatar 07 Jul 2013 - 01:17 am

DOHA: Driven by a ‘better-than-expected’ growth in the non-oil GDP sector of Qatar and Saudi Arabia, the GCC’s growth rate in this key...

China, Switzerland sign FTA 07 Jul 2013 - 01:16 am

Chinese Commerce Minister Gao Hucheng (right) and Swiss Economy Minister Johann Schneider-Ammann exchange documents after signing a free-trade agreement at China’s Ministry of...

Bond funds worldwide gain $2.11bn after record outflow 07 Jul 2013 - 01:15 am

NEW YORK: Global investors committed $2.11bn to bond funds in the latest week after pulling a record $23.3bn out of the funds the...

Aid for Greece could be in instalments: EU 07 Jul 2013 - 01:14 am

European Commission Director Matthias Mors (right) arrives at the Finance Ministry in Athens yesterday. MIKKELI /ATHENS: Greece could get its next tranche of...

UK investigating high charges for insurance renewals 07 Jul 2013 - 01:13 am

LONDON: Britain’s financial watchdog is investigating whether insurers charge customers unfairly for automatic policy renewal and take advantage of clients who do not...

Panel warns of risk if Dell buyout plan fails 07 Jul 2013 - 01:13 am

NEW YORK: The special committee set up by Dell to evaluate options for the troubled computer giant warned of “substantial downside risk” if...

Tapering of QE may hurt global growth: QNB 07 Jul 2013 - 01:12 am

Doha: A tapering of Quantitative Easing (QE) by the US Federal Reserve may hurt global growth, according to QNB Group. While the evidence...

China probes packaging giant Tetra Pak 07 Jul 2013 - 01:12 am

BEIJING: China’s national market regulatory agency says it is investigating possible abuse of market dominance by Switzerland-based food processing and packaging giant Tetra...

Govts to target tech giants’ tax avoidance 07 Jul 2013 - 01:12 am

BERLIN/LONDON: Western governments are set to target a range of tax loopholes used by technology giants including Apple, Amazon as part of an...

French economic forum 07 Jul 2013 - 01:09 am

The CEO of French car manufacturer Renault, Carlos Ghosn (left), speaks with former European Central Bank (ECB) president Jean-Claude Trichet during the second...

SoftBank gets US approval for Sprint bid 07 Jul 2013 - 01:08 am

New york: Japan’s SoftBank Corp received the final approval it needed from US regulators for its $21.6bn bid to take control of Sprint...

France to turn Tunisia debt into development projects 07 Jul 2013 - 01:08 am

TUNIS: France’s president proposed taking at least some of Tunisia’s ¤1bn ($1.3bn) in debt to his country and using it for development projects. ...

Iran devalues official rial rate by more than half 07 Jul 2013 - 01:07 am

TEHRAN: Iran’s central bank yesterday drastically devalued the national currency’s fixed subsidised rate against the dollar, as the Islamic republic struggles to shore...

Chile annual inflation speeds up in June to 1.9pc 07 Jul 2013 - 01:07 am

SANTIAGO: Chile’s consumer price index rose 0.6 percent in June, the biggest increase in eight months and slightly above expectations as costs jumped...