Business

UBS hit with $1.5bn fine in Libor scandal 20 Dec 2012 - 01:49 am

LONDON: Regulators slapped $1.5bn in fines on Swiss banking giant UBS yesterday, the second-largest amount ever, for rigging the key global Libor interest...

Private equity group eyes Abu Dhabi healthcare IPO next year 20 Dec 2012 - 01:49 am

DUBAI: The private equity consortium which owns half of Abu Dhabi healthcare provider Al Noor Medical is reviving plans to sell its stake...

Emaar signs $500m Turkey real estate loan 20 Dec 2012 - 01:49 am

DUBAI: Emaar Properties signed a $500m loan to finance its project in Turkey, as a gradual recovery in Dubai’s battered property market helps...

E.ON sells stake in unit to Swedish firm 20 Dec 2012 - 01:48 am

BERLIN: Germany’s biggest power supplier, E.ON, said yesterday that it agreed to sell a majority stake in its troubled waste incineration business to...

QFBA to hone skills of Qatar Exchange staff 20 Dec 2012 - 01:46 am

Officials from Qatar Exchange and Qatar Finance & Business Academy during the signing ceremony. DOHA: Qatar Exchange (QE) and Qatar Finance & Business...

Qatari bourse index adds 56.36 points 20 Dec 2012 - 01:46 am

Doha: Qatar Exchange pursued its upswing trend yesterday, adding 56.36 points or 0.67 percent to advance to 8,407.10 points from 8,350.74 on last...

World Bank private arm to issue bonds across Africa 20 Dec 2012 - 01:46 am

WASHINGTON: The International Finance Corp, the World Bank’s private sector arm, plans to issue local currency bonds in 10 African markets from next...

BP sells stake in China gas field to Kuwait 20 Dec 2012 - 01:45 am

LONDON: British oil giant BP said yesterday that it had agreed to sell its stake in China’s Yacheng gas field to the state-owned...

Foster Wheeler signs Kuwait fuel project contract 20 Dec 2012 - 01:45 am

KUWAIT: Engineering company Foster Wheeler said yesterday it had signed a contract with Kuwait to manage and service a clean fuels project at...

Minister opens slew of projects at Halul 19 Dec 2012 - 04:13 am

The Minister of Energy and Industry and Chairman of Qatar Petroleum (QP), H E Dr Mohammed bin Saleh Al Sada (second left) during...

CDC, Abu Dhabi build jumbo consortium for TIGF 19 Dec 2012 - 04:12 am

LONDON/PARIS: French state bank Caisse des Depots (CDC) has teamed up with Abu Dhabi investment fund ADIA to form a powerful consortium to...

Toyota fined $17.35m for US floormat recall delay 19 Dec 2012 - 04:11 am

New York: Toyota Motor Corp has agreed to a record fine of $17.35m for failing to report a safety defect to the US...

Contact-less credit card 19 Dec 2012 - 04:10 am

A woman uses a contact-less credit card system for a payment in a local fish market in Palma de Mallorca on the Spanish...

Sudan, S Sudan talks stumble; oil threatened 19 Dec 2012 - 04:10 am

ADDIS ABABA: Border security talks between Sudan and South Sudan are deadlocked, the top southern negotiator said yesterday, raising the prospect of an...

India holds rates, but signals it may cut soon 19 Dec 2012 - 04:09 am

MUMBAI: India’s central bank kept its benchmark interest rate on hold yesterday due to inflation worries, but signalled it may cut borrowing costs...

Saudi bourse snaps pre-budget rally; Egypt highest since crisis 19 Dec 2012 - 04:09 am

DUBAI: Saudi Arabia’s bourse snapped a five-session winning streak yesterday as investors booked gains in petrochemical and insurance stocks, while most other regional...

Emirates to steer clear of airline alliances 19 Dec 2012 - 04:09 am

PARIS: Dubai-based Emirates airline plans to stay outside of global airline alliances but is open to bilateral partnerships, a company executive said in...

Saudi Aramco, Total to double investment at Jubail site 19 Dec 2012 - 04:08 am

DUBAI/AL KHOBAR: Saudi Aramco said its oil refinery joint venture with France’s Total will double capital investment to SR7.12bn ($1.90bn) at Jubail, the...