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

Bloomberg Uber Technologies Inc has been on the wrong side of investor sentiment since its debut on the public market this year, and Barclays analyst Ross Sandler said the ride-hailing company could be “one major announcement” away from a change in the narrative. Shares of the company came under significant pressure around the expiry of its IPO lockup period — ...

Bloomberg The US Food and Drug Administration (FDA) has granted approval to a blood cancer drug from Beijing-based BeiGene Ltd, paving the way for American patients to access a Chinese cancer therapy for the first time. The accelerated approval — ahead of even China’s own national drug regulator — marks a breakthrough for the growing legion of Chinese biotech companies ...

Bloomberg Sri Lanka’s 16 million voters were expected to decide on Saturday whether to return to power a family of strongmen that took the nation towards a deep reliance on China or extend the rule of the current government that promises more freedom but failed to avert terror attacks that killed over 250 people in April. Gotabaya Rajapaksa, 70, whose ...

Bloomberg Democratic Representative Grace Meng said President Donald Trump is destabilising the US’s relationship with South Korea by demanding the Asian country pay a greater share of military costs. Defense Secretary Mark Esper said in South Korea that Seoul needed to contribute more towards the cost of hosting US troops. President Donald Trump has demanded the Asian nation pay about ...

Bloomberg Bolivia’s new government has only been in power for three days, yet it’s already turned the nation’s foreign policy on its head, transforming former allies into enemies, and former enemies into friends. The government of interim leader Jeanine Anez is cutting the nation’s close ties with socialist nations such as Venezuela and Cuba, and re-aligning the country’s foreign policy ...

Bloomberg President Donald Trump granted clemency to two Army officers, one of whom is in prison after being convicted in the killing of two men in Afghanistan. Trump signed an order that gave a full pardon to Lieutenant Clint Lorance, who had ordered soldiers under his command to open fire on three men who were moving towards them on a ...

Bloomberg The former US ambassador to Ukraine faced down the president she still serves with a scathing account of how Donald Trump was played by corrupt actors eager to get her fired and expose American policy to political manipulation. Less than an hour after ambassador Marie Yovanovitch began testimony before the House impeachment inquiry, Trump weighed in with a tweet ...

Bloomberg Continuing low interest rates could dent US bank profits and push bankers into riskier behaviour that might threaten the nation’s financial stability, the Federal Reserve said in a report. The latest version of the twice-yearly report, meant to flag stability threats on the Fed’s radar, highlighted the rate squeeze facing banks and insurers, noting that it could erode lending ...

Bloomberg Singapore’s regulator fined UBS Group AG S$11.2 million ($8.2 million) for misconduct by its advisers that included overcharging clients for trades. UBS’s advisers engaged in acts that deceived or were likely to deceive clients about the spreads and prices on bond and structured product transactions, the Monetary Authority of Singapore (MAS) said. “The conduct of UBS through its representatives ...

Bloomberg A headwind for the global equity rally is showing signs of reversing, and that could give a further boost to stocks, according to Citigroup Inc. Investors have sold a net $230 billion in shares this year amid a 20% rise in a gauge of global stocks, strategists including Robert Buckland wrote in a note. That has only happened twice ...