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

Bloomberg Democrats begin the final push for President Joe Biden’s $1.9 trillion stimulus bill this week, dropping any pretense of bipartisanship to quickly pass the package before an earlier round of benefits runs out. This will be the first real test for Democrats’ full control of government since former President Donald Trump’s impeachment trial, with implications for the rest of ...

Bloomberg Romania’s economy outperformed the rest of the European Union (EU) last quarter as the government opted not to impose the kind of harsh lockdown that shuttered most of the continent. Output not only grew from the previous three months, but surged more than 10 times what analysts had expected. The expansion of 5.3% puts it ahead of all other ...

Bloomberg Around 1,000 European Union (EU) finance firms are expected to open their first offices in the UK after losing their passporting rights because of Brexit. Roughly two-thirds of the 1,500 money managers, payment firms and insurers that have applied for regulatory permission to continue operating in the UK previously had no physical operations in Britain, according to Financial Conduct ...

Bloomberg Europe’s consumer-facing companies face a critical choice for when the pandemic passes: should they exploit the expected pickup in business by raising prices? There’s likely to be a rush to hairdressers, restaurants and tourism agencies reopening when virus curbs end, fueled by pent-up demand and a hoard of cash accumulated after more than a year of forced saving. Some ...

Bloomberg The European Union (EU) unveiled several programs aimed at boosting the bloc’s civil, space and defense industries, including a low-earth orbit satellite infrastructure to rival Elon Musk’s Starlink network. The push will aim to provide reliable, secure and cost-effective connectivity for governmental and commercial communications, as well as high-speed broadband throughout Europe, the European Commission said on Monday. The commission ...

Bloomberg Italian Prime Minister Mario Draghi has extended a ban on movement between the country’s 20 regions for another month — until late March — as his new government tries to step up a vaccination campaign to counter the pandemic. A cabinet meeting chaired by Draghi prolonged travel curbs between regions until March 27 and maintained a 10 p.m. curfew, ...

Bloomberg The bond selloff continued on Monday as Treasury yields climbed and sovereign debt in Australia and New Zealand slid on concerns about faster inflation, tempering stock market optimism from positive vaccine news. Ten-year Treasury yields climbed to the highest in about a year and an Asian stock gauge turned lower amid a surge in metals that put the focus ...

Bloomberg Sasol Ltd., the South African chemicals and fuel maker, called off a potential $2 billion share sale and announced first-half profit more than tripled. The shares jumped to the highest in a year. The company said it has raised enough cash through asset disposals and cost savings to reduce debt and avoid a rights offer. “A decision was made ...

NEW YORK / WAM At the 59th Session of the Commission for Social Development at the UN, the UAE underscored the importance of digital technologies, universal accessibility, and affordable connectivity to achieve the Sustainable Development Goals and promote social development at the UN. Hessa Tahlak, Assistant Undersecretary of Social Development, reflected on how the UAE has made new and emerging ...

ABU DHABI / WAM The first day of the International Defence Exhibition (Idex) and the Naval Defence Exhibition (Navdex) 2021 has seen the UAE Armed Forces sign 19 deals, worth AED 5.03 billion, with local and international companies. The deals came on the first day of the two exhibitions, which will run until February 25. Staff Brigadier-General Mohammed Al Hassani, ...