Business

Audi says will ‘accept penalty’ in China monopoly probe 11 Aug 2014 - 11:03 pm

SHANGHAI: German luxury car brand Audi will accept punishment from Chinese authorities for breaching anti-monopoly laws in the world’s largest auto market, it...

$940m rescue for S African’s Abil 11 Aug 2014 - 11:03 pm

PRETORIA: South Africa’s central bank stepped in to rescue unsecured lender African Bank Investments on Sunday, placing it under external supervision and announcing...

BuzzFeed eyes expanded coverage with more funds 11 Aug 2014 - 11:03 pm

WASHINGTON: The social news group BuzzFeed is looking to expand its coverage areas with a fresh infusion of $50m in venture capital. Andreessen...

Russia’s economy expands 0.8pc in second quarter 11 Aug 2014 - 11:02 pm

MOSCOW: Russia’s economy grew by 0.8 percent from April to June compared with output during the same period last year, a preliminary estimate...

QE index closes marginally lower 10 Aug 2014 - 11:37 pm

Doha: Qatar Exchange index dropped marginally by 0.9 points, or 0.01 percent, when trading closed yesterday at 13,075.43 points. The trading value reached...

Industries Qatar posts QR2.8bn profit for H1 10 Aug 2014 - 11:35 pm

DOHA: Industries Qatar (IQ), the region’s industrial giant with interests in the production of a wide range of petrochemical, fertiliser and steel products,...

From an Indian jail, tycoon tries to sell New York Plaza 10 Aug 2014 - 11:27 pm

The Plaza Hotel is seen in New York in the file photo. Right top: Sahara Group Chairman Subrata Roy NEW DELHI/MUMBAI: It’s hardly...

ING beats profit forecasts 10 Aug 2014 - 11:26 pm

International banking and insurance company ING CEO Rik Vandenberghe (left) and ING CFO Guy Beniada at the ING headquarters in Brussels. ING beats...

Tribunal gives Dana Gas favourable ruling on Iran supply deal 10 Aug 2014 - 11:25 pm

DUBAI: United Arab Emirates-based energy firm Dana Gas said an international tribunal had issued a favourable ruling in the dispute over a natural...

China builds Mediterranean power network 10 Aug 2014 - 11:24 pm

PARIS/HONG KONG/MILAN: The European Commission has long wanted the continent’s power grids to work in unison for reasons of efficiency and supply security,...

Jindals close to buying Italy’s Lucchini 10 Aug 2014 - 11:24 pm

SAN ROSSORE: A company run by India’s billionaire Jindal family is close to finalising a deal to buy insolvent Italian steelmaker Lucchini, Italy’s...

South Korea’s ranking in wireless Net penetration dips 10 Aug 2014 - 11:24 pm

Seoul: South Korea saw its global ranking in the high-speed wireless Internet penetration rate drop one notch in December last year from six...

Argentina to stimulate economic activity 10 Aug 2014 - 11:23 pm

Argentinian President Cristina Fernandez de Kirchner (centre), Cabinet Chief Jorge Capitanich (left) and Economy Minister Axel Kiciloff, participating during an event in Buenos...

Slim gets humanitarian award 10 Aug 2014 - 11:23 pm

Mexican business tycoon Carlos Slim (centre) looks on after his arrival at the Starlite Charity Gala in Marbella, near Malaga, southern Spain. Slim...

KIPCO rejects $3.2bn offer for OSN 10 Aug 2014 - 11:22 pm

DUBAI: Kuwait Projects Company (KIPCO) has rejected a $3.2bn takeover offer from a US private equity firm for its pay-television subsidiary OSN, the...

Chinese regulators investigating Wal-Mart store 10 Aug 2014 - 11:22 pm

SHANGHAI: Chinese regulators are investigating a Wal-Mart store in the southern city of Shenzhen for food safety violations, the official Xinhua news service...

Egypt’s consumer inflation up 10.6pc 10 Aug 2014 - 11:21 pm

CAIRO: Egypt’s annual urban consumer inflation jumped to 10.6 percent in July from 8.2 percent in June, the official statistics agency CAPMAS said...

Protest against BES move 10 Aug 2014 - 10:40 pm

Protesters hold up signs during a demonstration at Portuguese bank Banco Espirito Santo’s (BES) headquarters office in downtown Lisbon. Portugal will promote a...