Business

Nebras Power acquires shares in Jordan plant 29 Jun 2014 - 12:24 am

Doha: Nebras Power has announced that it has entered into an agreement to acquire significant shares in a 52.5 MW solar power plant...

EU leaders signal shift from austerity plans 28 Jun 2014 - 11:53 pm

BRUSSELS: In the latest shift away from the austerity of the eurozone crisis, European Union leaders signalled at a summit that they were...

Italy, France soften budget stance at EU summit 28 Jun 2014 - 11:53 pm

BRUSSELS: Italy and France left an EU summit on Friday without a sought after change to the bloc’s strict budget pact, winning only...

IMF praises Jamaica for fiscal progress 28 Jun 2014 - 11:53 pm

KINGSTON: The head of the International Monetary Fund started a two-day visit to Jamaica on Friday, praising the Caribbean island for progress in...

Monte Paschi raises €4.99bn 28 Jun 2014 - 11:52 pm

ROME: Italian bank Monte dei Paschi di Siena said it had raised €4.99bn through share sales in a move which should boost its...

Condensate export loophole may apply to other US crudes 28 Jun 2014 - 11:52 pm

New York: The US decision allowing minimally processed super-light oil known as condensate to be freely exported may open the door to doing...

Bulgaria banks under attack: Central bank 27 Jun 2014 - 10:10 pm

People queue outside a branch of Bulgaria’s First Investment Bank, in Sofia, yesterday. SOFIA: Bulgaria’s central bank said yesterday there was a systematic...

Madison Maersk docks in Guangzhou 27 Jun 2014 - 10:09 pm

Triple-E class container ship “Madison Maersk” of Maersk Line loaded with containers is berthed at Nansha port in Guangzhou, Guangdong province of China,...

Vietnam economy grows by 5.18pc 27 Jun 2014 - 10:08 pm

A new model Ford EcoSport SUV car for sale, is driven on to a truck during its launch ceremony at automaker Ford Vietnam’s...

Tunisia lifts grain harvest estimate 27 Jun 2014 - 10:07 pm

Tunisia’s Agriculture Minister Lassaad Lachaal (centre) speaks during a news conference in Tunis yesterday. Tunisia lifted estimates of the grain harvest this season...

North Korea’s economy grows in face of sanctions 27 Jun 2014 - 10:06 pm

SEOUL: North Korea’s closed economy rose last year at a slightly slower pace compared to 2013, South Korea’s central bank data showed yesterday,...

Oil flat after easing supply worries drove big drop 27 Jun 2014 - 10:06 pm

NEW YORK: Brent crude oil was little changed in choppy trading yesterday as investors moved to square positions after Brent posted one of...

Air bag accident, lawsuit led to GM Cruze recall 27 Jun 2014 - 10:06 pm

DETROIT/NEW YORK: An accident that left a Georgia woman blind in one eye and a subsequent lawsuit led to General Motors Co’s recall...

BNP plans dividend cut as US settlement nears 27 Jun 2014 - 10:05 pm

PARIS: BNP Paribas plans to slash its dividend and raise funds by selling billions of euros of bonds next week, as it nears...

ECB to regulate units of two Russian banks 27 Jun 2014 - 10:05 pm

FRANKFURT: The European Central Bank will supervise and run health checks on the Austrian arms of Russia’s two largest banks, giving officials in...

Rio Tinto, Acron JV pushes ahead with Canadian potash project 27 Jun 2014 - 10:04 pm

LONDON/BANGALORE: Global mining company Rio Tinto and Russian fertiliser producer Acron OAO are moving ahead with the development of the Albany potash prospect...

Tesco board under fire at annual meeting 27 Jun 2014 - 10:03 pm

LONDON: Shareholders at Tesco’s annual meeting berated the British retailer’s board yesterday for the low share price, poor results and questioned whether the...

Portugal achieves huge reduction in budget deficit 27 Jun 2014 - 10:01 pm

LISBON: Portugal, which has just emerged from a bailout programme, nearly halved its budget deficit in the first quarter of the year relative...