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

Bloomberg Real estate investors from Azerbaijan’s sovereign wealth fund to Blackstone Group Inc and UBS Group AG are cashing in on a surge in demand for prime Milan offices that’s pushing prices to new highs. A lack of development in Italy’s financial capital is driving up rents just as a scarcity of prime real estate in some western European cities ...

Bloomberg Hong Kong police arrested five people while dispersing a protest in one of the financial hub’s busiest tourist districts, the latest demonstration triggered by a proposed law that would allow extraditions of criminals to mainland China for the first time. Thousands of marchers walked through the pedestrian-heavy Tsim Sha Tsui area towards the city’s new high-speed rail station to ...

Bloomberg Iran may choose to enrich uranium at a higher purity level as its next step in a new policy that’s gradually undoing the restrictions imposed by the 2015 nuclear deal. It’s “among the options considered” as part of Iran cutting back on its commitments within the accord, official Islamic Republic News Agency reported, citing Behrouz Kamalvandi, the spokesman for ...

Bloomberg Germany’s government ruled out dispatching ground troops to Syria to assist a US-led campaign against the IS, pushing back on a request from the US administration. Chancellor Angela Merkel’s chief spokesman, Steffen Seibert, said Germany’s contribution to the anti-ISIS mission will most likely be confined to existing measures, such as aerial surveillance and assistance to Iraqi Kurds. “When I ...

Bloomberg US President Donald Trump criticised the British ambassador to Washington following the leak of memos penned by the envoy describing his administration in unflattering terms. The Foreign Office is investigating the leak after the Mail newspaper reported that Kim Darroch, a career diplomat who’s been his country’s top representative in Washington since 2016, described Trump as “inept” and “incompetent” ...

Bloomberg The 14 sailors who died during a fire on a nuclear-powered Russian military submarine prevented a “planetary catastrophe,” a top naval officer said at their funeral, according to media reports. Captain Sergei Pavlov, an aide to the commander of Russia’s navy, praised the heroism of the men, who died as they battled to stop the fire from spreading in ...

Bloomberg British Conservatives plotting to thwart a no-deal Brexit will make another attempt this week to stop the next prime minister from forcing a chaotic break with the European Union without parliament’s consent. Former Attorney General Dominic Grieve, a veteran anti-Brexit rebel in the Conservative Party, plans to amend a bill going to parliament. He wants to ensure the House ...

China’s steelmakers have had enough of the squeeze. The government needs to “maintain normal iron-ore market order” and push prices back to “reasonable levels” Qu Xiuli, vice chairwoman of the China Iron & Steel Association, or CISA, told a conference in Shanghai. It’s not hard to understand the frustration. Iron-ore costs in June amounted to about a third of the ...

Most people will be happy to see the back of the combustion engine. Cleaner air and less dependence on oil are good reasons to look forward to the mass adoption of electric cars. But for the 3 million or so Europeans working in the auto industry, the transition to the new technology is a source of great anxiety. While the ...

It makes sense for investment banks to cut businesses where they’re too small to be competitive and staying in is costly. So Deutsche Bank AG’s exit from equities trading is overdue. That doesn’t mean life is going to get any easier, in Asia at least. The German lender is counting on its strength in fixed-income and currencies trading to pivot ...