Business

NYSE takeover by ICE to create derivatives giant 23 Dec 2012 - 07:02 am

LONDON/NEW YORK: Intercontinental Exchange Inc (ICE) agreed as part of its $8.2bn takeover of NYSE Euronext (NYX) to pay the New York Stock...

Walgreen profit sinks nearly 26pc 23 Dec 2012 - 07:01 am

New York: Walgreen’s fiscal first-quarter earnings sank nearly 26 percent as costs tied to a couple big deals and Superstorm Sandy helped put...

Iraq to withhold payments for Kurdish oil 23 Dec 2012 - 07:00 am

BAGHDAD: Iraq will not pay oil companies operating in Kurdistan because the autonomous region has failed to export the volume of crude it...

Bertone Nuccio concept car 22 Dec 2012 - 12:20 am

A view of Bertone Nuccio concept car by the Italian design house Bertone during the Exclusive Cars Tramo Exhibition taking place in Madrid...

BAE wins $4.1bn Oman jet deal 22 Dec 2012 - 12:19 am

LONDON: British defence giant BAE Systems announced yesterday a £2.5bn ($4.1bn) deal to supply 12 Eurofighter Typhoon fighter aircraft and eight Hawk trainer...

UK third quarter growth revised down to 0.9pc 22 Dec 2012 - 12:16 am

LONDON: Britain’s economy grew by a worse-than-expected 0.9 percent in the third quarter, downwardly-revised data showed yesterday, sparking fresh speculation over a possible...

Gazprom to buy Kyrgyz gas operator for $1 22 Dec 2012 - 12:16 am

BISHKEK, Kyrgyzstan: Russia’s gas giant Gazprom is taking a controlling stake in Kyrgyzstan’s debt-ridden state gas company for one dollar, Kyrgyzgaz said yesterday....

Regulatory black hole puts banks off deals 22 Dec 2012 - 12:14 am

DUBLIN/LONDON: Regulatory uncertainty is putting large banks off buying the assets of smaller rivals, complicating the sector’s restructuring and giving hedge funds and...

GE to buy aviation unit of Avio for $4.3bn 21 Dec 2012 - 11:20 pm

MILAN: US conglomerate General Electric Co has agreed to buy the aviation business of Italy’s Avio for $4.3bn, in a sign of confidence...

Myanmar, Japan to build vast industrial zone 21 Dec 2012 - 11:20 pm

YANGON: Myanmar and Japan agreed to start work next year on a huge industrial zone near Yangon, officials from the two countries said...

Tiny gold bars latest rage for jittery private investors 21 Dec 2012 - 11:19 pm

ZURICH: Private investors in Switzerland, Austria and Germany are lining up to buy gold bars the size of a credit card that can...

Iraq on its path to oil’s top tier 21 Dec 2012 - 11:18 pm

LONDON: Iraq is sharpening a push to sell its swelling crude output and sit at oil’s top table with Saudi Arabia, sweetening terms...

Baghdad’s gold holding quadruples in 3 months 21 Dec 2012 - 11:17 pm

NEW YORK/SINGAPORE: Iraq made its first major move in years to boost its gold reserves in recent months, joining central banks from emerging...

Greeks flock to informal work as recession bites 21 Dec 2012 - 11:12 pm

ATHENS: Greek dietician Reggina knew she had little choice when her boss told her she could keep her job at a health centre...

ICE to buy NYSE Euronext 21 Dec 2012 - 01:33 am

Traders at the New York Stock Exchange in New York yesterday. IntercontinentalExchange has agreed a $8.2bn deal to buy New York Stock Exchange...

QE snaps six-week losing streak; market capitalisation rises 21 Dec 2012 - 01:32 am

DOHA: Snapping a six -week bearish run, Qatar Exchange gained 111.37 points last week amid interests from foreign institutional buyers. The bourse gained...

Oil to drift lower in 2013, crash unlikely: Analysts 21 Dec 2012 - 01:32 am

LONDON: Slow economic growth and ample supplies are expected to keep a lid on oil next year with crude prices gradually slipping lower....

HSBC no longer bookrunner on Asiacell float 21 Dec 2012 - 01:32 am

DUBAI: HSBC Holdings has ceased to be a bookrunner on Asiacell’s planned share sale, raising new questions about the Iraqi telecom operator’s ability...