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

Bloomberg Indian PM Narendra Modi’s second budget in seven months disappointed investors who were hoping for big-bang stimulus to revive growth in Asia’s third-largest economy. The fiscal plan — delivered by finance minister Nirmala Sitharaman — proposed tax cuts for individuals and wider deficit targets, but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and ...

Bloomberg Prosecutors in Tokyo issued a fresh warrant for the arrest of ex-Nissan Motor Co Chairman Carlos Ghosn, who jumped bail and fled the country last month to escape trial for alleged financial crimes. The Tokyo District Public Prosecutors Office issued the warrant on Ghosn for illegally departing Japan, where the former auto executive was charged with failing to fully ...

Bloomberg Huawei Technologies Co is in talks about investing in European tech startups and contributing to research in a bid to secure its supply chain as tensions with the US escalate, people familiar with the matter said. In the final weeks of 2019, Huawei executives visited startups and venture capital firms in countries including Germany and France, they said. The ...

Bloomberg Samsung Electronics Co reported a 38% decline in profit due to falling memory chip prices, a warning sign for the global technology industry as it navigates trade tensions and the coronavirus outbreak. Net income tumbled to 5.23 trillion won ($4.4 billion) for the three months ended in December, compared with the 5.31 trillion won average of projections. The miss ...

Bloomberg The Congress of South African Trade Unions (Cosatu), the nation’s biggest labour federation, will present its proposal to rescue state power company Eskom Holdings SOC to senior members of government and the business community on Monday. The union group, an ally of the ruling African National Congress, wants the government-owned pension fund, the Public Investment Corp, and state lenders, ...

Bloomberg The top two US states for wind power installed their most turbines ever last year, helping push up nationwide capacity growth to a seven-year high as tax benefits sent developers rushing projects into service. Texas added almost 4 gigawatts and Iowa installed 1.7 gigawatts, expanding their lead in wind power capacity, according to a report from the American Wind ...

Bloomberg US politicians, including Senators Mitt Romney and Cory Gardner, criticised international organisations for excluding Taiwan amid a global effort to curb the spread of the deadly coronavirus. China has placed pressure on the World Health Organization (WHO), International Civil Aviation Organization (ICAO) and International Criminal Police Organization to exclude Taiwan from discussions, Romney said, echoing calls for immediate inclusion ...

Bloomberg The Justice Department, in a court filing, said it has two dozen emails related to President Donald Trump’s involvement in withholding millions of dollars in security assistance to Ukraine, CNN reported. The filing, made in response to a lawsuit by the Center for Public Integrity, was the first official acknowledgment from the Trump administration of the existence of such ...

Bloomberg Claims by Malawi’s opposition that last year’s election that returned President Peter Mutharika to power was rigged should be decided upon on Monday when the nation’s top court is due to rule on whether to annul the vote. The electoral commission declared Mutharika, the leader of the ruling Democratic Progressive Party, the winner of the May 21 ballot with ...

Bloomberg Juan Guaido, Venezuela’s opposition leader, rallied supporters in Miami and met with US Senator Marco Rubio, who’s played a key role in shaping US policy on the South American country. It’s likely to be one of his last stops in a two-week global tour aimed at building support to oust his rival, President Nicolas Maduro. “We have a strategy, ...