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

  Bloomberg An explosion outside the Russian embassy in Kabul killed a senior diplomat and a security guard, Russia said. A Taliban spokesman confirmed the blast. “An unknown gunman detonated an explosive device in the immediate vicinity of the entrance to the consular section of the Russian Embassy in Kabul,” the Russian Foreign Ministry said in a statement Monday. “Two ...

Bloomberg The UK government’s plan to deport asylum seekers to Rwanda has come under a legal attack by a group of refugees who condemned the country as “authoritarian,” in the latest bid to topple one of outgoing Prime Minister Boris Johnson’s most controversial policies. The asylum seekers kicked off their battle Monday at London’s High Court, arguing that the policy ...

Bloomberg Pakistan’s military shot back at former Prime Minister Imran Khan after he accused the government of delaying fresh elections until after a new army chief is appointed in November, further raising political tensions in the South Asian nation. At a rally on Sunday, Khan alleged that Prime Minister Shehbaz Sharif and his allies “want their man because they have ...

Bloomberg German Chancellor Olaf Scholz’s coalition agreed on a relief plan worth about 65 billion euros ($65 billion) to help millions of households struggling with soaring prices amid Europe’s harshest energy crunch in decades. Key measures include a vow to cap — and even redistribute — huge profits made by energy companies on the back of the current crisis; increased ...

  Bloomberg US employers added a healthy number of jobs in August and a steady stream of people entering the workforce lifted the unemployment rate, suggesting some easing in the tight labor market and offering mixed implications for the Federal Reserve. Nonfarm payrolls increased 315,000 last month following a revised 526,000 advance in July, a Labor Department report showed. The ...

  Bloomberg Toronto home prices fall for a fifth straight month, the longest skid since 2017, as the property market adjusts to sharply higher interest rates from the Bank of Canada. The benchmark price for a home in Canada’s largest city dropped 2.8% in August compared with the month before to reach C$1.12 million ($854,000), according to data by the ...

  Bloomberg The Parler social media platform returned to the Google Play app store after a suspension for violating its policies in January 2021 following the US Capitol insurrection. Parler has agreed to modify its app to moderate content and remove posts that incite violence, Google said in a statement.

  Bloomberg Rolex raised prices for its watches in the UK after the value of the pound fell against the US dollar to near the lowest level in more than three decades. The largest Swiss luxury watch brand increased the price of its watches sold in Britain by an average of 5%, a company spokesperson confirmed. The price hike, first ...

  Bloomberg European stocks slumped and the euro falls on Monday as the region’s worsening energy crisis added to risks for a global economy already facing high inflation and a wave of monetary tightening. The Stoxx Europe 600 Index falls 1.1% after Russia’s Gazprom PJSC halted its key gas pipeline indefinitely. Steelmaker Thyssenkrupp AG, car-parts manufacturer Valeo, chemicals firm BASF ...

Bloomberg Domestic UK stocks have had a rough year. And with recession looming and the pound plunging, it’s hard to see how things will get better anytime soon for a new prime minister on that front. Britain’s mid-cap index — made up of companies that are heavily dependent on the local economy — is down 20% this year, on course ...