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

DUBAI / WAM Dubai Economy saw a 19 percent increase in consumer complaints during the first six months of 2019, following improved awareness over consumer rights and the ease of access to consumer protection channels. The nationality-wise breakdown of complaints indicates that Emiratis (25 percent) were the top complainants, followed by Indians (16 percent), Egyptians (12 percent), Saudis (nine percent) ...

DUBAI / Emirates Business Noor Bank, one of the leading Shari’ah-compliant banks in the UAE, has entered a strategic partnership with National Bonds Corporation, a renowned investment company, to launch a first-of- its-kind initiative in the UAE that allows customers to purchase Shari’ah-compliant investment products using credit cards. Starting 15 August 2019, the new scheme enables Noor Bank credit card ...

Bloomberg China said recent violence in Hong Kong protests was the “creation of the US,” for the first time laying direct blame on Washington as their dispute over the unrest escalates. Chinese Foreign Ministry spokeswoman Hua Chunying made the remark at a news briefing in response to comments by US Secretary of State Michael Pompeo. The top American diplomat had ...

RAWALPINDI / WAM A Pakistani military aircraft on a training flight crashed in a built-up area in the garrison city of Rawalpindi killing all five crew members and 12 civilians and setting off a blaze that left a pile of smoking rubble, Reuters has reported. A statement from the Pakistani military said the aircraft was on a routine training flight ...

Bloomberg At least 52 prisoners were killed during a prison riot in the northern Brazilian state of Para, with 16 of the victims decapitated, according to a statement from prison authorities. The superintendent of the Regional Recovery Center in Altamira, Jarbas Vasconcelas, said that the violence broke out as a result of a territorial dispute between two rival criminal gangs ...

Bloomberg UK Prime Minister Boris Johnson will spend the next few weeks pressing the European Union to negotiate a better Brexit deal, his office said, while preparing the country to leave the bloc in case he fails. A messy no-deal divorce is a scenario that has concerned business leaders and weakened the pound since Johnson won the contest to become ...

Bloomberg US calls for Japan’s help protecting shipping from Iranian attacks have put Prime Minister Shinzo Abe in a bind between angering his country’s military ally and upsetting voters suspicious of overseas deployments. Secretary of State Michael Pompeo confirmed that the US has asked Japan to join naval patrols in the Strait of Hormuz, a subject of much speculation in ...

Bloomberg As some of the European Union‘s eastern members embrace more state-led economic models, Ukraine is turning to the playbook that helped rebuild the continent’s ex-communist wing back in the 1990s. With help from the International Monetary Fund, President Volodymyr Zelenskiy wants to sell state companies, trim the budget deficit and relax rules for land ownership. The ideas have been ...

Bloomberg US stocks fell a second day amid a mixed bag of corporate results and growing speculation a trade deal with China remains elusive. Treasuries edged higher as the Federal Reserve began deliberating on the path for interest rates. The S&P 500 Index slumped, with overnight trading reaching lows after President Donald Trump criticised China just as his negotiators start ...

Bloomberg One of this year’s best-performing stock markets has just hit a fresh record. Australia’s S&P/ASX 200 Index reached its highest level, having added about $239 billion in value this year as investors cheered a dovish central bank, a surprise federal election victory by the incumbent center-right government and skyrocketing iron ore prices. The gauge rose 0.3 percent to close ...