US economy grew 2.5% in second quarter

<p><b>Washington:</b> The US economy grew at an annual rate of 2.5 per cent in the second quarter, the Commerce Department said Thursday, leaving its prior estimate unchanged.</p> <p>Analysts had expected that second-quarter gross domestic product (GDP) expanded at a slightly stronger 2.6 per cent pace.</p> <p>The world’s largest economy grew 1.1 per cent in the first quarter.</p>.... Read more »

Posted on : 9/27/2013

China starts to exert influence in oil markets

<p>Beijing: The surge in China’s diesel exports this year has grabbed headlines in the Asian oil products market, overshadowing strong gains in shipments of jet kerosene.</p>.... Read more »

Posted on : 9/27/2013

Boeing optimistic about Mideast sales for its new 777X plane

<p><b>Seattle:</b> With Lufthansa as its first recently announced customer for the new 777X aircraft — the improved version of its long-range 777 aircraft — the Boeing Company is optimistic about procuring orders for the aircraft type from the Middle Eastern airlines, according to a senior executive at Boeing Commercial Airplanes.</p>.... Read more »

Posted on : 9/27/2013

AirAsia India gets no objection certificate

<p>New Delhi: Budget passenger carrier AirAsia on Thursday said its proposal for setting up a new airline has received the no objection certificate (NOC) from the civil aviation ministry.</p>.... Read more »

Posted on : 9/27/2013

UAE markets gain after US decision

<p><b>Dubai: </b>Most Gulf indices ended in positive territory yesterday as retail investors found enough reason to buy shares after US delayed military action against Syria.</p>.... Read more »

Posted on : 9/1/2013

Rupee's slump comes at wrong time

<p><b>New Delhi:</b> India is hurtling into a major economic crisis with the rupee’s slump to a series of record lows firing up inflation pressures, which would inevitably lead to a spike in interest rates at a time when economic growth is teetering at its worst pace in four years.</p>.... Read more »

Posted on : 9/1/2013

Dubai home prices 31% off 2008 peak rates

<p><b>Dubai:</b> Speculation that Dubai’s property market is overheating could be misplaced — even with the steady recent gains home prices are still 31.1 per cent off their 2008 peaks, according to a new report by property consultancy, Cluttons.</p>.... Read more »

Posted on : 9/1/2013

India could save $8.5b by buying extra Iranian oil, says minister

<p><b>New Delhi:</b> India could save $8.5 billion in foreign exchange spending on crude oil imports in 2013/14 if it relied more on supplies from Iran, which is able to accept payment in rupees, India’s Oil Minister M. Veerappa Moily said.</p>.... Read more »

Posted on : 9/1/2013

India: 1991 economic crisis wont be repeated, says Prime Minister Manmohan Singh

<p>New Delhi: India’s premier ruled out Saturday any suggestion the country could suffer a repeat of its 1991 balance-of-payments crisis as it grapples with a plunging rupee and a huge trade gap.</p>.... Read more »

Posted on : 8/18/2013

Air India Express slashes baggage allowance

<p>Abu Dhabi: Strong objections have been raised following Air India Express’ decision to slash its free baggage allowance, representatives of various socio-cultural organisations in Abu Dhabi announced on Saturday.</p>.... Read more »

Posted on : 8/18/2013