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

Bloomberg India’s path to economic recovery faces another obstacle, with Prime Minister Narendra Modi asking the state road builder to stop constructing highways after its debt ballooned almost seven-fold over the past five years. “National Highways Authority of India totally logjammed with unplanned and excessive expansion of roads,” the prime minister’s office wrote to NHAI in a letter. “NHAI mandated ...

Bloomberg South Korea’s exports extended their slump in August as an escalating feud with Japan adds to uncertainties for the economy already elevated amid the US-China trade war. Exports fell 13.6 percent in August from a year earlier, a ninth consecutive month of contraction, data from the trade ministry showed. That compared with economists’ consensus for a 12.5 percent drop. ...

Bloomberg Car sales at Maruti Suzuki India Ltd, the nation’s biggest car maker, dropped 33 percent to 106,413 units, the company said in a press statement on Sunday. Deliveries of its small cars fell about 72 percent to 10,123, while exports declined 10.8 percent to 9,352. Car sales dropped 34 percent in July, the biggest decline in sales in almost ...

Bloomberg The wireless carrier controlled by Indian billionaire Mukesh Ambani will probably keep drawing users away from rivals, reaching a market share of as much as 45 percent by fiscal year 2022, from 30 percent as of March, a unit of Fitch Group said. Reliance Jio Infocomm Ltd, which has been offering data tariffs that are as much as 30 ...

Bloomberg On a steamy summer morning, dozens of buses pull up outside a cluster of low-slung, blue buildings in the south Indian state of Andhra Pradesh. Women dressed in colourful salwar kameezes disembark, their dupatta body scarves billowing as they make their way past hibiscus bushes and posters proclaiming, “Our aim, no accident.” The night shift at Foxconn Technology Group’s ...

Bloomberg Embattled Israeli Prime Minister Benjamin Netanyahu, running in an election that could be the fight of his political life, said he hopes to annex all Jewish West Bank settlements. Israel will build more settlements and won’t uproot settlers, Netanyahu said in a speech in the West Bank settlement of Elkana. “With God’s help, we will extend Jewish sovereignty to ...

Bloomberg The US said it’s at the “threshold” of a deal with the Taliban after the latest round of talks ended, even amid reports that the group attacked another Afghan city on Sunday. US Special Representative for Afghanistan Reconciliation Zalmay Khalilzad said he’ll be travelling to Kabul for consultations after discussions with the Taliban. The withdrawal of American and NATO ...

Bloomberg Efforts by France and Iran to salvage the nuclear deal are gaining momentum as Tehran sends its special envoy back to Paris while signalling it could be edging closer to a plan to restore some of its oil exports. On Monday President Hassan Rouhani’s special representative and deputy foreign minister, Abbas Araghchi, will head an economic delegation on his ...

Bloomberg Hong Kong protesters caused major disruptions to the city’s international airport on Sunday, massing outside the building in attempt to paralyse transport to and from the facility. MTR Corp, operator of the city’s rail system, cancelled express trains to the airport, while demonstrators blocked buses from leaving the airport terminal. Protesters vandalised turnstiles at some of stations and sprayed ...

Bloomberg Hundreds of Russians marched through the streets of Moscow in what appeared to be the most peaceful unauthorised rally in a summer of demonstrations against President Vladimir Putin. The Interior ministry, which usually understates the scope of protest activities, put the number of march participants at 750 people, according to Interfax. No detentions were reported, but there was a ...