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

Bloomberg Soybean futures climbed for the fourth straight day as officials signalled optimism that the US and China will reach a trade deal. China was processing applications for tariff waivers on imports of US soy, a procedural step that could set the stage for a broader agreement. The Asian nation is the top consumer of each commodity, and US shipments ...

Bloomberg Japan is looking to raise defence spending to a record 5.3 trillion yen ($49 billion) for the year starting on April 1, partly to develop a next-generation fighter jet, the Nikkei reported, without saying where it obtained the information. The amount compares with 5.26 trillion yen earmarked for defence for this fiscal year and includes more than 10 billion ...

Bloomberg SoftBank Group Corp’s massive investment in WeWork triggered a multi-billion-dollar writedown and a rare apology from founder Masayoshi Son. But one analyst argues the deal is likely to work in the end and SoftBank will have the “last laugh.” Chris Lane of Sanford C Bernstein says WeWork can have a bright future if SoftBank overhauls the business plan and ...

Bloomberg India’s real estate, construction and infrastructure industries are in “deep trouble,” and non-bank finance companies which lend to these sectors should have their asset quality reviewed, former central bank Governor Raghuram Rajan said. There is also “significant distress in rural areas,” Rajan wrote in an opinion piece in India Today magazine. He said India is in a growth recession, ...

Bloomberg China will announce the creation of its long-planned national oil and gas pipeline company on December 9, according to people familiar with the matter, as it seals one of its biggest reforms aimed at helping energy supply keep pace with swelling demand. A ceremony to launch the company has been set for 10 am on Monday in Beijing, said ...

Bloomberg PG&E Corp has reached a $13.5 billion settlement with victims of wildfires ignited by its power lines, a major step towards resolving the biggest utility bankruptcy in US history. The settlement will cover claims stemming from some of the worst fires to hit Northern California, including the 2017 wine country fires and the 2018 Camp Fire, the company said ...

Bloomberg A US Supreme Court justice temporarily blocked subpoenas that would force Deutsche Bank AG and Capital One Financial Corp to turn over years of President Donald Trump’s financial documents to two House committees. Justice Ruth Bader Ginsburg put the subpoenas on hold until December 13. The justices are already scheduled to discuss at a private conference that day whether ...

Bloomberg Reddit said it was banning 61 accounts over suspected Russia-led meddling in the run-up to the UK’s December 12 election involving leaked trade documents.The social platform said the accounts violated its policies against vote manipulation and platform misuse. Reddit said its investigation occurred after Facebook discovered a Russian campaign on its network earlier this year dubbed “Secondary Infektion.” More ...

What a difference a decade makes. Back in September 2010, Guido Mantega, Brazil’s then-finance minister, was complaining bitterly about “currency wars,” and claiming the Federal Reserve’s ultra-loose monetary policy of the time was unfairly hurting his economy. “We’re in the midst of an international currency war, a general weakening of currency,” he said then. “This threatens us because it takes ...

The European Central Bank (ECB) has infuriated bankers because of its policy of negative interest rates. It now looks like some euro zone governments are unhappy too. Christine Lagarde, the ECB president, would be wise to keep calm and carry on. Her bank is meant to be independent of political interference and its only objective must be to fulfill its ...