Business

IMF cuts global growth forecast 10 Jul 2013 - 09:32 am

WASHINGTON: The International Monetary Fund trimmed its global growth forecast yesterday for the fifth time since early last year due to a slowdown...

NYSE Euronext to take over running of Libor 10 Jul 2013 - 09:32 am

LONDON: The US owner of the New York Stock Exchange (NYSE) will take over the running of Libor, the benchmark interest rate at...

Profit of Qatari firms expected to rise over 7pc in Q2, 2013 10 Jul 2013 - 09:31 am

DOHA: Qatari companies’ Q2, 2103 profits are forecast to increase by 7.3 percent on a year-on-year, mainly led by QNB, Ooredoo and Gulf...

Ali Ahmed named QNB acting CEO 10 Jul 2013 - 09:30 am

DOHA: The Board of Directors of Qatar National Bank (QNB) Group yesterday appointed Ali Ahmed Al Kuwari (pictured) as the Acting Chief Executive...

Fracking in Poland 10 Jul 2013 - 09:29 am

Employees monitor earth coming to the surface during a drilling process at a shale gas fracking facility run by Poland’s PKN Orlen company...

Morocco wants local partner for Maroc Telecom 10 Jul 2013 - 09:29 am

PARIS/LONDON: Morocco wants Gulf telecom operator Etisalat to take on a local partner as a condition of backing its bid for a 53...

Shell names van Beurden CEO 10 Jul 2013 - 09:27 am

LONDON: Royal Dutch Shell named head of refining Ben van Beurden to replace chief executive Peter Voser, a surprise appointment to steer Europe’s...

Turkish lira firms; analysts doubt central bank firepower 10 Jul 2013 - 09:27 am

ANKARA: The Turkish currency, the lira, firmed in early trading yesterday, having rallied on Monday after the central bank intervened on the foreign...

Lloyds buyout arm targets record year 10 Jul 2013 - 09:27 am

LONDON: The private equity arm of Lloyds Banking Group is targeting a record £400m ($603m) worth of deals this year, extending one of...

Germany warned over Mercedes coolant 10 Jul 2013 - 09:26 am

BRUSSELS/BERLIN: The European Commission has warned Germany it faces possible action over Daimler’s refusal to remove a banned refrigerant from new cars, after...

M&S pins hopes on new ranges 10 Jul 2013 - 09:26 am

LONDON: British retailer Marks & Spencer posted an eighth consecutive quarterly fall in underlying sales of clothing, piling pressure on management to deliver...

QE index ends losing streak, up 0.29pc 10 Jul 2013 - 09:26 am

Doha: Qatar Exchange index ended its losing streak yesterday adding 26.75 points or 0.29 percent to advance to 9,309.63 points from 9,282.88 on...

EU hits Russia with first WTO dispute over car levy 10 Jul 2013 - 09:25 am

GENEVA/BRUSSELS: The European Union launched the first formal trade dispute with Russia at the World Trade Organisation yesterday, less than a year after...

Gold shines on flat dollar 10 Jul 2013 - 09:25 am

LONDON: Gold rose for a second consecutive session yesterday, as the dollar held below three-year highs and China inflation data boosted the metal’s...

Nakheel profit rise signals confidence in Dubai property 10 Jul 2013 - 09:20 am

DUBAI: Dubai property developer Nakheel , one of the biggest casualties of the emirate’s real estate market crash in 2009, posted a 57...

Helium2 plant at RasGas begins output 09 Jul 2013 - 12:15 am

Officials during a tour of RasGas’s Helium2 plant. DOHA: RasGas Company Limited (RasGas) yesterday announced that its recently completed Helium2 plant produced the...

Oxy Qatar, GDI sign QR273m deal 09 Jul 2013 - 12:14 am

Officials exchanging documents at the signing ceremony. DOHA: Occidental Petroleum of Qatar Ltd (Oxy Qatar) has signed a QR273m contract with Gulf Drilling...

Brent crude slips towards $107 on dollar strength 09 Jul 2013 - 12:14 am

LONDON: Brent crude oil slipped towards $107 a barrel yesterday because of a rising dollar, after reaching a three-month high earlier in the...