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

Bloomberg House Speaker Nancy Pelosi, offering her most expansive view of the impeachment probe to date, said she decided to advance the inquiry into President Donald Trump after his phone call with Ukraine’s leader provided her with the “clarity” that prior allegations against Trump lacked. Pelosi said the partial transcript of Trump’s July 25 conversation with Ukrainian President Volodymyr Zelenskiy ...

Bloomberg UK economic growth is set to slow to the weakest pace in a decade next year, leaving Bank of England policy makers on hold through to 2021, according to the EY Item Club. The forecaster will say on Monday that GDP will increase 1% in 2020, down from a projection of 1.5% made in July, due to the weaker ...

Bloomberg A payments platform created by India’s largest retail banks surpassed a billion transactions in October, a milestone that affirms the tremendous growth of services offered by US giants from Walmart Inc to Amazon.com Inc and Google. Indian digital payments took off when the government pushed demonetisation in 2016, invalidating most of the country’s high-value currency notes in a move ...

Bloomberg The Trump administration may not need to put tariffs on imported automobiles later this month after holding “good conversations” with automakers in the European Union, Japan and elsewhere, Commerce Secretary Wilbur Ross said. In May, the White House agreed to delay new tariffs on imported vehicles and parts for six months as Washington engaged in negotiations with the European ...

Bloomberg Satellite-maker OneWeb is preparing to raise another $1 billion as costs soar for its planned launch of hundreds of advanced orbiters into space in 2020, the Telegraph reported, citing unidentified people. OneWeb aims to raise the funds from investors as it prepares to launch 30 satellites a month from December in what will be the largest-ever program of its ...

Bloomberg The percentage of people in the US aged 25 to 54 who are employed or actively looking for work has climbed to the highest in a decade as demand in the health-care and education sectors lures more women into the workforce. Labour force participation in the so-called prime-age group rose to 82.8% in October, matching the rate from August ...

Bloomberg United Auto Workers (UAW) President Gary Jones, who led negotiations that ended an almost six-week strike at General Motors Co was expected to take a leave of absence Sunday amid reports he is involved in a years-long corruption scandal. Those allegations clouded contract talks with US automakers. “I do not want anything to distract from the mission,” Jones said ...

Bloomberg Stock investors have stopped heeding the increasingly skeptical message of Wall Street earnings forecasters. Maybe everyone should. Pessimism of any type is starting to look like a misjudgment in the stock market of 2019, a year with a shot at becoming one of the best in decades. The S&P 500 has surged for four straight weeks, closing at a ...

Bloomberg It’s old, but it’s not slowing down. A bull market that traces its lineage to the depths of the financial crisis is revving up again, notching its fourth straight weekly gain and pushing its advance in 2019 past 22%. After wavering at mid-year amid a US-China trade war and recession anxieties, American stocks are back in melt-up mode, ending ...

Bloomberg Hope for a boom in the global solar industry this year is fading as the top market is expected to miss its installation target. China is likely to fail meeting the new capacity estimates it touted earlier this year, which were as high as 45 gigawatts, according to analysts at Daiwa Capital Markets and BloombergNEF, as well as the ...