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Construction work of project on track

MANAMA: Construction work at Juffair Heights, a freehold residential project, is in full swing and on schedule, the promoters have said.

In a statement, Pegasus Real Estate said more than 2,000 prospective buyers have seen the show apartments at the twin towers development being built by Dadabha...ReadMore


Chinese major launches smartphones in Bahrain

MANAMA: ZTE Mobile Devices, in partnership with official distributor Abu Issa Brothers Trading (AIBT), has launched eight smartphone models in Bahrain.

Rolls-Royce wins $9bn order from Emirates

LONDON: Rolls-Royce has won a $9.2 billion deal to supply engines for 50 A380 aircraft for Dubai's Emirates airline, the largest order in its history and giving it a boost after a torrid year of profit warnings.

Petrol lifts US consumer prices

WASHINGTON: US consumer prices increased for a second straight month in March on rising petrol and shelter costs, a sign of some inflation that should keep the Federal Reserve on course to start raising interest rates this year.

GE posts $13.6bn loss on finance sale charges

New YORK: General Electric yesterday reported a $13.6 billion first-quarter loss on charges from its plan to sell most of GE Capital as profits rose in four of seven industrial businesses.

G20 is upbeat over global growth outlook

WASHINGTON: The Group of 20 leading economies struck a hopeful tone on the outlook for global growth yesterday even as officials fretted that Athens' inability to strike a deal with its lenders could upset Europe's tentative recovery.

VW's panel backs CEO

BERLIN: Volkswagen (VW) chief executive Martin Winterkorn has survived a challenge from powerful chairman Ferdinand Piech, but their row remains a distraction for the carmaker as it struggles to boost profits and revamp its ailing US business.

Opec urged to consider oil quotas

LONDON: Opec should consider re-introducing individual output quotas, shuffled quietly to one side in 2008, to prevent oversupply hitting prices if Iran increases its oil exports following a nuclear deal, an Opec delegate said.

Greece denies plan to tap cash reserves

ATHENS: Greece yesterday dismissed reports that it needed to tap remaining cash reserves to meet salary payments.

Honeywell's revenue falls on unit sale

NEW YORK: Honeywell International, a major manufacturer of aircraft electronics and climate control systems, reported a five per cent fall in quarterly revenue yesterday, hurt by the sale of its friction materials business and a strong dollar.

Cost cuts boost for Schlumberger

NEW YORK: Schlumberger, the world's number one oilfield services provider, reported a smaller-than-expected fall in first-quarter margins as it continued to execute tight cost controls to combat a decline in drilling activity.

India's trade gap sparks growth risks

NEW DELHI: India's trade deficit in March was the highest in four months, at $11.79 billion, as exports continued to fall, underscoring risks for growth prospects in Asia's third largest economy.

Reliance profit rises 4.8pc

Mumbai: India's Reliance Industries reported a small profit increase for the year yesterday as a slump in oil prices hurt its major revenue streams of petrochemicals and refining.

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