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

Bloomberg U.K. Chancellor of the Exchequer George Osborne started the week of his eighth budget by warning that he must set out more austerity measures as economic conditions remain difficult. “My message in this budget is that the world is a more uncertain place than at any time since the financial crisis,” Osborne told the BBC’s “ Andrew Marr Show” ...

Bloomberg U.K. Chancellor of the Exchequer George Osborne will use the budget he unveils on Wednesday to announce a crackdown on the use of personal-service companies to avoid taxes. The measures will require people hired off-payroll to pay employment taxes that are due, according to a government official briefed on the matter who declined to be identified in line with ...

Paris / Bloomberg French President Francois Hollande hosted a dozen EU social democrat leaders who called for a relaunch of the European project to stop the growth of the far-right. Those attending the informal gathering included Italian Prime Minister Matteo Renzi, German Vice-Chancellor Sigmar Gabriel and Greek Prime Minister Alexis Tsipras who, representing the radical leftist Syriza party, was granted ...

London / AFP A German-born lawmaker is taking over as head of one of the main campaigns pressing for Britain to leave the European Union, the group announced on Sunday. Gisela Stuart, an MP with the main opposition Labour Party, will take over from 1980s finance minister Nigel Lawson as the chair of Vote Leave. Meanwhile influential London Mayor Boris ...

Bloomberg Rachel Holdsworth has the “Brexit” blues. The 38-year-old London resident is anxious that her already expensive planned holiday to Norway is getting pricier with each passing day. The pound is sinking under the weight of worry that her fellow subjects will vote to quit the EU. “How much I pay will be entirely dependent on the exchange rate,” says ...

Washington / AFP Federal Reserve policymakers will hold their finger away from the rate-hike trigger when they meet next week, analysts say, but chances are it could move a bit closer. Meeting after the European Central Bank cut interest rates on Thursday in the face of weakening eurozone economic growth and inflation, the Fed is expected to heed caution even ...

Bloomberg Maserati North America Inc. is recalling some of its Quattroporte and Ghibli luxury sedans because of danger posed by the driver-side floor mat, which can become dislodged and stuck in the accelerator. “If the floor mat moves and becomes trapped between the accelerator and the vehicle carpet, it may result in very high vehicle speeds, which could cause a ...

Bloomberg Democratic presidential candidate Hillary Clinton proposed to make it harder for foreign automakers to claim that their cars are made in the U.S., as she tries to recruit Rust Belt voters following a surprise defeat in Michigan. At a campaign stop in Youngstown, Ohio, Clinton called for tougher “rules of origin,” the means used to determine whether a product ...

Bloomberg Barrick Gold Corp. confirmed that an Argentine court will proceed with criminal charges against nine current and former Barrick employees in connection with a cyanide solution spill last year. Separately, the San Juan provincial government announced it intends to impose a fine of about $9 million against Barrick, the company said in a statement. Confirmation of the charges comes ...

Bloomberg Global efforts to curb the use of coal-fired power plants may provide a lifeline to Brazil’s embattled sugar cane industry. That’s the bet of companies including Cosan SA Industria e Comercio, co-owner of the world’s largest sugar cane processor, which formed a $130 million joint venture for making sugar cane-based biomass pellets that can be burned to produce electricity. ...