Business

Iran to export gas to Iraq by mid-2013, says official 01 Oct 2012 - 02:04 pm

DUBAI: Iran expects to begin exporting natural gas to neighbouring Iraq by the summer of 2013, an Iranian official was quoted as saying...

Iranian rial dives 6 percent 01 Oct 2012 - 02:04 pm

TEHRAN: Iran’s currency, the rial, dived six percent to a new low of around 28,600 to the dollar in open trading yesterday, deepening...

Qatar’s economic diversification bearing fruit 01 Oct 2012 - 02:03 pm

DOHA: Qatar’s economic diversification effort seems to be bearing fruit as official data released for the second quarter of this year show strong...

18pc drop in personal loan disbursal by banks: Report 01 Oct 2012 - 02:02 pm

DOHA: There has been an 18 percent drop in personal loan disbursal by banks in the first eight months of this year due...

Apple CEO sorry for maps shortcomings 29 Sep 2012 - 10:28 am

NEW YORK: Apple apologised yesterday for its glitch-ridden maps application in its new operating system used by the iPhone 5 and urged customers...

Paris Motor Show 29 Sep 2012 - 10:27 am

A Mercedes-Benz Concept Style Coupe displayed at the Paris Motor Show yesterday. The show takes place every two years and is one of...

Xstrata haggles over management 29 Sep 2012 - 10:27 am

LONDON: Xstrata’s directors, facing a Monday deadline to deliver their verdict on Glencore’s $32bn bid, are hammering out a deal they hope will...

UK tightens screw on troubled banks over Libor scandal 29 Sep 2012 - 10:26 am

LONDON: Britain tightened the screws on troubled banks yesterday, vowing to overhaul a “broken” Libor interest rate system that tainted the financial sector’s...

China delivers first VLCC to Iran 29 Sep 2012 - 10:26 am

SINGAPORE/LONDON: A Chinese shipyard has delivered the first of 12 supertankers to Iran, giving Tehran extra capacity to transport its oil to Asia...

Sony to invest $645m in scandal-hit Olympus 29 Sep 2012 - 10:26 am

TOKYO: Electronics giant Sony will invest 50bn yen ($645m) in scandal-tainted Olympus, the firms said yesterday, as they both look to turn the...

Turkish trade deficit falls 30pc on gold sales to Iran 29 Sep 2012 - 10:25 am

ISTANBUL: Turkey’s trade deficit fell 30 percent in August on the back of strong gold sales to Iran, bolstering efforts to improve its...

Equity bankers go bespoke 29 Sep 2012 - 10:25 am

LONDON: In banking, as in fashion, bespoke tailoring commands a premium. As investment banks see their income fall from traditional sales of shares,...

European stocks fall; gold rises 29 Sep 2012 - 10:25 am

LONDON: European stock markets fell yesterday with attention fixed on Spain as it prepares to publish an audit of its stricken banks and...

Spanish banks’ audit reveals €59.3bn capital needed 29 Sep 2012 - 10:24 am

MADRID: An independent audit of Spanish banks confirmed a manageable ¤59.3bn in extra capital is needed for them to ride out a serious...

Paris car show opens amid gloom 28 Sep 2012 - 01:44 pm

PARIS: The Paris Motor Show opens with the automobile sector in crisis mode amid deep gloom over the future of the European market,...

Czech central bank cuts rates 28 Sep 2012 - 01:43 pm

A file picture of Czech crown bank notes. The Czech central bank cut interest rates to a new low yesterday to encourage consumers...

QE market capitalisation falls 28 Sep 2012 - 01:43 pm

Doha: Qatar Exchange’s main index lost 105.95 points (1.23 percent) last week when the bourse closed at 8,493.70 points yesterday. The trading value...

British economy contracts in Q2 28 Sep 2012 - 01:42 pm

LONDON: Britain’s economy contracted less than thought during the second quarter, offering a higher base for an expected return to tepid growth and...