For a few decades, economists used to imagine how the world works, write down a theory describing their idea, and call it a day. If some statisticians came along and found some support for the theory, well, great! But usually they didn’t, and that was fine too. As one old joke put it, if an idea worked in practice, …

  Bloomberg Stock markets across the world dipped on Monday as investors tried to second-guess the US Federal Reserve on the timing of its next interest rate hike. Tokyo, however, was the exception with stocks there soaring on a weaker yen. In a much-scrutinized speech, Fed chief Janet Yellen on Friday hinted at a US interest rate rise by the …

  Bloomberg Gulf stocks moved little in early, thin trade on Monday as a fresh slide in oil prices and a retreat in Asian share markets kept buyers away. Dubai’s index was flat as stocks mainly traded by local investors were the top movers. Insurer Takaful Emarat Insurance gained 3.4 percent but Ajman Bank fell 1.3 percent. In Abu Dhabi, …