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 number of Chinese tourists travelling to the GCC is expected to increase 81 percent from 1.6 million in 2018 to 2.9 million in 2022, according to data published ahead of Arabian Travel Market (ATM) 2019, which takes place at Dubai World Trade Centre from April 28 to May 1, 2019. The latest research from Colliers International, …

Bloomberg Recent pledges of $2 billion in investment for South Sudan’s oil may be just the start, with the war-torn nation expecting further agreements in early 2019, its petroleum minister said. Ezekiel Lul Gatkuoth’s prediction comes as the African nation’s warring sides prepare to form a power-sharing government in the latest bid to end five years of conflict. The country, …

Bloomberg China bought huge amounts of Middle East and West African crude as oil prices were collapsing in November. Oil tankers loaded 6.5 million barrels a day from ports in the two regions for Chinese buyers in November, a 26 percent increase compared with the average over prior 10 months, ship tracking compiled by Bloomberg shows. With deliveries taking between …

Bloomberg Jagged Peak Energy Inc is considering expanding its footprint in the oil-rich Permian Basin of West Texas and New Mexico, according to people with knowledge of the matter. The oil and gas company, with a market value of $2.2 billion, is working with an adviser to pursue bolt-on acquisitions, said the people, who asked not to be identified because …

Bloomberg Hong Kong’s government is set to sell its first batch of cheap homes under a new programme to help people get on the property ladder in the world’s least affordable housing market. The “starter homes” in Kowloon, across the harbour from Hong Kong Island, will be priced at about 38 percent below market levels — or around HK$13,000 ($1,662) …

Bloomberg An eastern Chinese city announced rule changes making it easier for people to sell homes, a move local media has called the first easing of such housing curbs nationwide in more than two years. Heze, a city of about 9 million, in 2017 began requiring individuals to own their homes for at least two years before putting them on …

Bloomberg US stocks climbed as investors waited to see whether Federal Reserve policy makers would strike a dovish stance when they reveal their rate decision on Wednesday. The S&P 500 Index edged higher in early trading as the Stoxx Europe 600 Index looked set to snap a four-day losing streak. Still, a cautious tone prevailed after executives from FedEx warned …

Bloomberg India’s currency and sovereign bonds rallied as sliding oil prices improved the outlook for the nation’s finances and the central bank extended support via its open-market debt purchases. The rupee is on course for its biggest three-day advance since September 2013, with the drop in Brent crude seen helping reduce India’s net oil import bill and narrowing its current-account …

Bloomberg Deutsche Bank AG, the German lender that’s struggling to enact a turnaround, has seen a surge in turnover among investment bankers in Asia since May, as cost-cutting and sinking morale has prompted dealmakers to leave, people with knowledge of the matter said. Almost 50 bankers in Hong Kong and Singapore have left in the past six months, or about …

Bloomberg An international criminal investigation into Danske Bank A/S has led to the first group of bankers being apprehended, and prosecutors say more will probably follow. Police in Estonia have detained 10 former Danske employees in connection with what may be Europe’s biggest ever money laundering case. The country’s head of central criminal police, Aivar Alavere, said the group is …