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Qatar Airways Ltd. Chief Executive Officer Akbar Al Baker said he’s pursuing acquisitions after reviving an investment strategy that saw the company offered stakes in carriers including Italy’s Alitalia SpA. The second-biggest Gulf airline is “actively discussing opportunities” with other passenger carriers, Al Baker said in an interview, without specifying where talks are focused. “I would not like to pre-empt our decision,” he said. “We would rather […]

Honda Motor Co is recalling nearly 900,000 Odyssey minivans that could catch fire, the U.S. National Highway Traffic Safety Administration said in a recall notice posted on Friday. In a March 13 filing with NHTSA, Honda said 2005-2010 Odysseys built in Alabama have a fuel-pump part that could crack and cause a fuel leak, increasing the risk of fire. The company said it has no reports of […]

Qatar will likely face higher labor costs as a result of publicity about deaths of migrant construction workers building the infrastructure for the 2022 World Cup soccer tournament, the International Monetary Fund said. Britain’s Guardian newspaper reported in September that dozens of Nepali workers had died during the summer in Qatar and that laborers were not given enough food and water. Qatar, which has denied the Guardian’s […]

|By Ole Sloth Hansen |February was a strong month for commodities, with the broad-based DJ-UBS Commodity index returning more than 5 percent. This was more than the S&P 500 Index, which reached even a new record high thereby moving in the opposite direction of bond yields and the macro data. Some of the major themes and factors behind this performance were: • Adverse weather in Brazil and […]

BlackBerry Ltd plans to launch a new tool for business and government customers to manage mobile devices on their networks, part of a drive by the one-time smartphone pioneer to focus on its profitable enterprise or services business. The company said on Tuesday it would launch BlackBerry Enterprise Service 12, or BES12, to unify its existing platforms and provide clients with increased flexibility and security. Following a […]

Concerns from Indian carriers on the quantum of increase in bilateral seat entitlements requested by Dubai may result in the emirate getting only half of its initial request of enhancing weekly entitlements by 20,000 seats. the Economic Times reported. A top official of the civil aviation ministry told ET that officials of various ministries met as part of an Inter Ministerial Group on Monday where a “couple” […]

A sprawling forested estate of graceful waterways and summer houses – half the size of Monaco but just one hour’s drive from Kiev – stands as a symbol of the folly of Ukraine’s fugitive president. Even the most cynical Ukrainians, who on Saturday streamed to see Viktor Yanukovich’s luxury estate, rubbed their eyes in disbelief when they were confronted by the scale of the opulence he built […]

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 Facebook Inc will buy fast-growing mobile-messaging startup WhatsApp for $19 billion in cash and stock in a landmark deal that places the world’s largest social network closer to the heart of mobile communications and may bring younger users into the fold. The transaction involves $4 billion in cash, $12 billion in stock and $3 billion in restricted stock that vests over several years. The WhatsApp deal is […]

A well-timed launch saw Dubai Investments Park achieve favourable terms on its debut $300 million, 4.296 percent five-year Reg S sukuk issue, a deal that may serve to accelerate the plans of other regional potential issuers. The real estate firm, rated BB by Standard & Poor’s, kicked off the deal in a strong week for emerging markets and to a market starved of Middle East paper: it […]

Facebook, Microsoft, Yahoo and Google on Monday began publishing details about the number of secret government requests for data they receive, hoping to show limited involvement in controversial surveillance efforts. The tech industry has pushed for greater transparency on government data requests, seeking to shake off concerns about their involvement in vast, surreptitious surveillance programs revealed last summer by former spy contractor Edward Snowden. The government said […]

India pledged on Thursday to take all necessary steps to ensure stability in financial markets as it tried to calm jitters over the U.S. Federal Reserve’s decision to scale down its economic stimulus. The U.S. central bank said on Wednesday it would buy $65 billion in bonds per month starting in February, down from $75 billion now. It shaved its purchases of U.S. Treasuries and mortgage bonds […]

By Abhinav Ramnarayan Debt capital markets bankers covering the Middle East say a bond issue by Dubai may be imminent as part of the emirate’s plan to refinance some of its existing debt. The emirate was one of the first issuers from the Gulf in 2013 with a dual tranche 10-year sukuk and 30-year conventional note, and may be one of the early issuers this year as […]

Thousands protested in Hong Kong on Wednesday pressing China to allow full democracy in the city as a battle intensifies over Beijing’s attempts to control the outcome of a planned direct election for the city’s leader in 2017. Beijing had promised direct elections in the former British colony as the goal for 2017, but the devil is in the details of the rules governing who can run. […]

The BSE Sensex is forecast to scale new highs next year after elections, attracting offshore funds despite an expected rough period for emerging markets when the U.S. Federal Reserve shifts monetary policy, a Reuters poll showed. The poll predicts a better performance than this year’s 9 percent increase but far more modest than the 25 percent surge in 2012 when foreign investors bought a massive $24.4 billion […]

Gold trade between Turkey and Iran will resume, albeit at lower levels than last year, once sanctions on Iran are eased, Iran’s ambassador to Turkey said on Friday. Turkey’s gold trade with Iran boomed in 2012 when Ankara was paying for its natural gas and oil imports with Turkish lira and Iranians were using those deposits held in Turkey’s Halkbank to buy gold. “Certainly the gold trade […]

The Federal Reserve is expected to maintain its massive bond-buying campaign when it concludes a two-day meeting on Wednesday and may point to softer readings on the U.S. economy to signal that the policy will be extended into 2014. The central bank, which will announce its policy decision at 2 p.m., has held interest rates near zero since late 2008 and has quadrupled the size of its […]

Fosun International Ltd., a Chinese conglomerate that invests in everything from steel to pharmaceuticals to Club Med, has agreed to buy the office tower at 1 Chase Manhattan Plaza from JPMorgan Chase & Co. for a whopping $750 million. This isn’t an isolated incident. Zhang Xin, a billionaire property developer who grew rich building Beijing’s central business district, recently bought about 20 percent of the General Motors […]

Asian shares ran out of steam on Friday as investors pondered what policy the U.S. Federal Reserve will pursue after it triggered a global market rally by leaving its stimulus level unchanged. The dollar drifted off a seven-month low against a basket of major currencies and U.S. Treasury yields rose after a string of upbeat U.S. data provided a reminder to markets that the day the Fed […]

The U.S. Federal Reserve defied investor expectations on Wednesday by postponing the start of the wind down of its massive monetary stimulus, saying it wanted to wait for more evidence of solid economic growth. Investors responded by propelling U.S. stocks to record highs and driving down bond yields. Yields on U.S. Treasury debt had risen over the summer on expectations the Fed would cut back its $85 […]

Asian stocks rose, with the regional benchmark index trading near a four-month high, before the Federal Reserve decides later today whether to slow its $85 billion of monthly asset purchases. Mitsui O.S.K. Lines Ltd. and Fanuc Corp. rose at least 2.7 percent in Tokyo as industrial companies led gains on the Asia-Pacific benchmark index. Kawasaki Heavy Industries Ltd. surged 4.2 percent to a six-year high amid unconfirmed […]

Benchmark London prices for physical gold fell to US$1363 lunchtime Tuesday, down 2.3% from Monday’s high as the Assad regime in Syria accepted a Russian-backed plan to give its chemical weapons to international control. The Rupee meantime rose to a 2-session high after new Indian trade data showed gold imports falling and exports rising in August. Premiums in Asian markets, over and above London’s benchmark gold price, […]

Syria hailed a “historic American retreat” on Sunday, mockingly accusing President Barack Obama of hesitation and confusion after he delayed a military response to last month’s chemical weapons attack near Damascus until after a congressional vote. U.S. Secretary of State John Kerry said tests had shown sarin nerve gas was fired on rebel-held areas on August 21, and expressed confidence that U.S. lawmakers would do “what is […]

France said on Sunday it could not act alone against Syria after the United States stepped back from the brink, making Paris the last remaining top ally in the Western coalition to hesitate over punishing President Bashar al-Assad. After President Barack Obama delayed an imminent strike by deciding to consult Congress and the British parliament vetoed any involvement, French Prime Minister Jean-Marc Ayrault is to discuss with […]

Saudi Arabia and India topped the charts for sending the most tourists to Dubai in the first half of this year as a new report by Department of Tourism and Commerce Marketing (DTCM) revealed record-breaking figures. More than 5.5 million tourists visited Dubai from January to June this year, representing an increase of 11.1 per cent over the previous year. Director-General of DTCM Helal Saeed Almarri said: […]

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