Business

Taqa to invest $1.2bn in Kurdistan oilfield 21 Jan 2014 - 10:21 am

ABU DHABI: Abu Dhabi National Energy Company (Taqa) plans to invest about $1.2bn developing the Atrush oil and gas block in the autonomous...

Firm starts work on ‘Heart of Europe’ project off Dubai coast 21 Jan 2014 - 10:21 am

DUBAI: A property developer has started building a huge resort complex on a man-made archipelago off Dubai’s coast as the emirate revives tourism...

China’s oil demand sees slowest rise 21 Jan 2014 - 10:21 am

BEIJING: China’s oil consumption in 2013 posted the slowest rise in more than two decades, data showed yesterday, as softer economic growth sliced...

Shell sells stakes in Australian gas project for $1.14bn 21 Jan 2014 - 10:20 am

LONDON: Royal Dutch Shell said yesterday that it had agreed to sell stakes in a gas project in Western Australia for $1.14bn as...

Energy industry faces huge challenges: PM 21 Jan 2014 - 04:59 am

The Prime Minister and Interior Minister H E Sheikh Abdulla bin Nasser bin Khalifa Al Thani (centre) with Minister of Energy and Industry...

Qatar Islamic Bank records QR1.34bn profit 20 Jan 2014 - 12:20 am

DOHA: Qatar Islamic Bank (QIB) recorded a net profit of QR1.34bn for the year 2013, up 7.6 percent compared to QR1.24bn posted a...

Number of IATA-accredited agencies rises to 143 20 Jan 2014 - 12:19 am

BY MOHAMMAD SHOEB DOHA: With Qatar emerging as a new aviation hub in the region backed by a booming tourism industry, the total...

IPTC excellence award 20 Jan 2014 - 12:19 am

Saad Al Kaabi (left), Director of Oil & Gas Ventures at Qatar Petroleum presents the International Petroleum Technology Conference’s (IPTC) ‘Exellence in Project...

Bahrain air show 20 Jan 2014 - 12:18 am

A female security officer looks at an automatic machine gun made by Caracal, a United Arab Emirates weapon manufacturing company, displayed at the...

Platinum mine workers to strike 20 Jan 2014 - 12:17 am

Members of South Africa’s Association of Mineworkers and Construction Union (AMCU) attend a rally in Rustenburg, northwest of Johannesburg, yesterday. AMCU will strike...

Brazilian airlines to add flights 20 Jan 2014 - 12:16 am

Brazilian airline Gol’s Boeing 737 and TAM’s Airbus A320 aircraft parked at Congonhas airport in Sao Paulo. Brazilian aviation regulator ANAC said it...

Boyu Capital raises $1.5bn buyout fund 20 Jan 2014 - 12:16 am

The logo of Boyu Capital at the company’s office in Hong Kong. China-focused private equity firm Boyu Capital has raised $1.5bn for its...

Best Buy sales tumble 20 Jan 2014 - 12:15 am

A Best Buy store in Westminster, Colorado. Best Buy Co shares tumbled about 30 percent after the world’s largest consumer electronics chain reported...

American Express profit rises 20 Jan 2014 - 12:15 am

American Express and American Express corporate cards are pictured in Encinitas, California. The credit card company announced its quarterly profit more than doubled ...

Doha to host IATA AGM from June 1-3 20 Jan 2014 - 12:11 am

DOHA: The International Air Transport Association (IATA) is gearing up to hold its 70th Annual General Meeting (AGM) here from June 1 to...

Empower buys cooling firm for $500m in Dubai asset shuffle 20 Jan 2014 - 12:10 am

DUBAI: Dubai district cooling firm Empower bought Palm Utilities from a unit of Dubai World for $500m yesterday, part of a shuffle of...

Saudi ‘welcomes’ US shale oil boom: Minister 20 Jan 2014 - 12:10 am

RIYADH: Saudi Arabia, an Organisation of Petroleum Exporting Countries kingpin, is unconcerned by the US shale oil boom, Oil Minister Ali bin Ibrahim...

Mideast M&A activities hit $43.4bn in 2013 20 Jan 2014 - 12:09 am

DOHA: Middle Eastern investment banking fees reached $722.2m during 2013. The value of announced M&A transactions with any Middle Eastern involvement reached $43.4bn...