The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Could China’s oil and gas industry be on the brink of a revolution? That’s one interpretation of the government’s shakeup of regulations on petroleum production this month. The introduction of drill-it-or-lose-it rules and a possible extension of subsidies for unconventional gas output could end up dismembering sprawling industry leader PetroChina Co. and creating a new sector of independent upstream producers ...
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September, 2018
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15 September
China’s imperial growth delusion just won’t die
The big state-owned Chinese enterprise is back. But this time, it isn’t looking sturdy enough to prop up the economy. As growth stumbles, Beijing is falling back on a tried and trusted solution: using large, government-backed companies to spur activity. That’s squeezing out private and small firms. The economy certainly merits concern. Trade frictions and Beijing’s crackdown on the underbelly ...
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15 September
Apple’s ‘death blow’ to phone carriers
Each new iPhone is usually good news for mobile network operators. The latest Apple Inc. device always comes with upgrades that make it easier to play games, watch films and download reams of data. More data means bigger phone bills. There’s a chance, though, that the arrival of the next generation of iPhones might not be so welcome. That’s because ...
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15 September
Bernie Sanders picks wrong kind of fight with Amazon
US Senator Bernie Sanders, a leader of the democratic socialist movement, is introducing a bill designed to force companies to pay their workers higher wages. The bill is being touted as an attack on Amazon.com Inc. — its name is the Stop Bad Employers by Zeroing Out Subsidies Act, which spells out ‘Stop BEZOS.’ That would be Amazon chief Jeff ...
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15 September
Danske CEO Borgen given 33% chance of surviving ‘scandal’
Bloomberg Analysts covering Danske Bank A/S see a 33 percent chance that Chief Executive Officer Thomas Borgen will continue in his role through 2018. That probability falls to 25 percent when the same analysts were asked how likely it is that Borgen, 54, will still be running Denmark’s biggest bank in 2019. The Bloomberg survey is based on responses from ...
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15 September
Bank of Russia says $87bn in deposits safe from sanctions
Bloomberg Russian depositors who save in foreign currency can breathe a sigh of relief after central bank Governor Elvira Nabiullina said their money was safe, whatever new sanctions the US throws at state-owned banks. “We don’t see any kind of threat to foreign-currency deposits and we haven’t considered any kind of forced conversion,†Nabiullina said following the Bank of Russia’s ...
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15 September
ECB’s Villeroy sees risks from banking, emerging markets
Bloomberg Supervisors need to keep a close eye on shadow banking and emerging market debt a decade on from the fall of Lehman Brothers, Bank of France Governor Francois Villeroy de Galhau said in a radio interview. As banks have pulled out of riskier businesses since the financial crisis, specialised investors have stepped in to swell the European Union’s shadow-banking ...
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15 September
‘DBS avoiding ‘crazy rush’ to hire private bankers’
Bloomberg DBS Group Holdings Ltd. has poured cold water on the idea that private bankers can name their price when jumping ship in Asia’s booming wealth management business. “I don’t believe that every bank needs to join in this crazy rush for talent,†Tan Su Shan, head of consumer and wealth banking at Southeast Asia’s largest lender, said in a ...
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15 September
China’s yuan could zip to 7
Bloomberg From Washington to Rome, the world faces a gauntlet of political risks in the months ahead, and that could mean a looming headache for policy makers in China, according to CLSA Ltd. A fresh blast of market stress could push the Asian country’s currency past levels against the US dollar at which officials have previously been forced to intervene, ...
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15 September
Massachusetts taps rival utility for ‘blast recovery’
Bloomberg The Massachusetts governor declared a state of emergency after explosions along a natural gas distribution system operated by NiSource Inc. killed one person and injured more than 25 others. He tapped another utility owner to oversee the recovery. Eversource Energy would now be “in charge,†Governor Charlie Baker said. The move came after local officials criticised the operator of ...
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