The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

Bloomberg Doubts are mounting about the future of the U.K.’s membership in the European Union, but you wouldn’t know it from the country’s stocks. Rather than being punished for a lack of certainty, they’ve become the most expensive ever relative to others in the region. The valuation of companies in the FTSE 350 Index climbed to 15.5 times estimated earnings ...

Bloomberg US brokers managing retirement accounts must adhere to tough new standards under an Obama administration rule released on Wednesday that aims to protect millions of savers from conflicted investment advice. The Labour Department regulation, which gave the industry some concessions from an earlier proposal, puts a capstone on President Barack Obama’s efforts to rein in Wall Street and level ...

Bloomberg Ontario is selling a stake in Hydro One Ltd. for C$1.71 billion ($1.3 billion) five months after completing Canada’s largest initial public offering since 2000. In the so-called bought deal, where banks commit to buying the entire offering for resale to investors, the province is selling 72.4 million shares of Hydro One at C$23.65 apiece, the Toronto-based utility said ...

Bloomberg Argentina called on bondholders to give the country more time to repay about $12 billion in debt still owing from its 2001 default as a court hearing prevents the government from making the payment within the deadline. The New York Appeals Court will begin to hear the case on April 13, one day before Argentina has to make the ...

Bloomberg For Kia Motors Corp. Mexico’s historic car boom isn’t working out as planned. A dispute with a recently elected state leader may prevent the start of production next month at a northern Mexico car factory representing more than $1 billion in investment, Kia said on Tuesday. The plant is in the cross hairs of Nuevo Leon Governor Jaime Rodriguez, ...

Bloomberg A year after Brazilian oil giant Petroleo Brasileiro SA took a writedown of $2.1 billion because of the sweeping corruption scandal known as Carwash, another state-run company is getting closer to reporting its own price tag from graft losses. The team of lawyers and specialists hired by Centrais Eletricas Brasileiras SA has finished the bulk of its investigation to ...

Tripoli / AFP Libya’s UN-backed unity government moved to cement control over the country’s finances and institutions on Wednesday after the rival administration in Tripoli ceded power in a boost to efforts to end years of chaos. The concession late Tuesday by the militia-backed administration that had controlled Tripoli since 2014 was a major about-turn for a body that had ...

KANO/ AP Nigeria’s military has opened a camp to rehabilitate Boko Haram fighters who have surrendered and are repentant, according to a statement on Wednesday that urged other fighters to abandon the insurgency that has claimed 20,000 lives in six years. The military also said it has rescued 11,595 civilian hostages in attacks on Boko Haram camps and villages in ...

LONDON / AP British police say they have arrested a man and a woman on suspicion of terrorism offenses over suspected support for a far-left Turkish militant group. The Metropolitan Police says a 49-year-old man and 45-year-old woman were detained early Wednesday at two addresses in London. The man is suspected of disseminating a terrorist publication, while the woman was ...

ANBAR / AFP Heavy resistance has slowed Iraqi forces as they pushed forward toward the center of a town held by IS militants in western Anbar province, commanders at the scene said. Hundreds of roadside bombs, car bombs and heavy mortar fire slowed advancing Iraqi troops to a near halt Tuesday after entering the small town of Hit the previous ...