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

DUBAI / WAM The growth pace of the regional logistics industry is set to intensify in the year 2020 on the back of boosted UAE growth expectations. The UAE is hosting the region’s first Expo, in 2020, a mega event which is poised to start in October and for which preparations are in full swing. The growth driven by the ...

ABU DHABI / WAM Recent statistics issued by the Organisation of the Petroleum Exporting Countries (Opec), highlighted a decrease in its production by 6.3 percent or some 2 million barrels per day in 2019, compared to 2018. This decrease is in line with the organisation’s recent decisions, in coordination with major independent producers, to maintain the balance in the global ...

Bloomberg UK-based energy explorer Premier Oil Plc can move ahead with its plan to extend debt maturities and buy gas fields in the North Sea, a Scottish court ruled. Judge Sarah Wolffe ruled the company can proceed to a creditor vote on a proposed change in terms on $2 billion-worth of debt, heading off a challenge by Premier Oil’s largest ...

Bloomberg The most up-to-date measure of the UK economy looks set to improve this week — yet it might not be sufficient to deter the Bank of England (BOE) from cutting interest rates. With policy makers signalling they’re considering a rate cut to preempt possible weakness in the months ahead, and recent data backing their case, IHS Markit’s monthly survey ...

Bloomberg Morgan Stanley just had its most profitable year on record. It wasn’t enough for its chief to land a raise. James Gorman’s compensation fell as the firm announced he will receive $27 million for 2019, according to a regulatory filing. That’s a 6.9% decline from the prior year and on par with the package the chief executive officer received ...

Bloomberg Barclays Plc Chief Executive Officer Jes Staley is pushing ahead with changes at the firm’s closely scrutinised investment bank, a key part of his strategy to drive growth. The British lender slashed about a hundred jobs globally at its securities unit this week, focusing on highly paid senior trading roles. The cull also included several senior members of an ...

Bloomberg China’s overall credit growth held up in December and a gauge of borrowing costs fell, signalling that policy makers are beginning to see some progress in channelling credit to the economy. The stock of outstanding aggregate financing expanded by 10.7% in the 12 months to December, the same pace as in November, the People’s Bank of China (PBOC) said. ...

Bloomberg If European Central Bank (ECB) officials use their review of monetary policy this year as a chance to connect with ordinary people, they need to be ready for some plain truths. At the heart of the assessment, likely to be announced on January 23, is how price stability should be defined and targeted. But ask citizens how they feel ...

Bloomberg In the country that’s had negative interest rates longer than anywhere else on Earth, economists are going through a bit of a rough patch. Since Denmark introduced subzero rates in mid-2012, citizens have struggled to get their heads around a world in which savers are punished, borrowers are rewarded and the basic laws of risk-return feel like ancient mythology. ...

Bloomberg Stack up US equities next to almost anything that is used to measure value right now, and the picture can elicit anxiety. Up 13 of the past 15 weeks, the S&P 500 is trading at historically high levels versus earnings, expected profits and sales. Does that mean there’s no way to justify putting more money into a market where ...