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

India needs a minister for investment. Whoever wins the May 23 election count, the next government must find somebody who will boldly open the doors to American and Japanese capital. Another statist intervention in a country that labors under an excess of bureaucracy might not look like much of a solution to anything. But for India to break free from ...

Bloomberg US equity-index futures extended declines on Tuesday alongside stocks in Europe as the gloom surrounding the outlook for global trade refused to dissipate. The dollar gained and Treasury yields were steady. Contracts on the S&P 500, Dow Jones Industrial Average and Nasdaq 100 all retreated as China’s top trade negotiator prepares to visit Washington this week to salvage a ...

Bloomberg Pound traders are more upbeat on the outlook for Brexit as the government and opposition Labour party hold a crunch meeting to try and reach a deal. One-week risk reversals on the pound-dollar pair, a measure of market positioning, signal investors are the most optimistic on the pound in almost five months. There is only around a one-in-three chance ...

Bloomberg Bitcoin climbed to a fresh 2019 high, approaching the $6,000 level for the first time since November. The largest digital coin advanced as much as 4.7 percent to $5,961, before paring its gain to 3.4 percent in New York, according to Bloomberg composite pricing. Most of the other highly traded tokens were mixed, lagging Bitcoin. The world’s most-followed cryptocurrency ...

Bloomberg The Federal Reserve escalated its warnings about the perils of risky borrowing by businesses, saying firms with the worst credit profiles are the ones taking on more and more debt. The Fed also left a question unanswered: Is it going to do anything about it? The US central bank’s latest financial stability report said leveraged-lending issuance grew 20 percent ...

Bloomberg More US consumers are defaulting on their credit cards, but banks may be holding onto the riskiest loans instead of passing them off to investors, according to a report from Barclays Plc. The credit card loans that banks bundle into bonds and sell to investors are outperforming the loans that lenders have held onto, Barclays analyst Alin Florea wrote ...

Bloomberg Singapore is discussing the possibility of allowing virtual banks to operate in the city state, the Monetary Authority of Singapore said on Tuesday. “MAS is studying whether to admit such digital-only banks with non-bank parentage,” the financial regulator said in an emailed reply to questions from Bloomberg News. “We have been engaging relevant stakeholders to ascertain the unique value ...

Bloomberg UBS Group AG is beefing up the ranks of senior executives at its securities joint venture in China after taking majority control late last year, hiring five managing directors for the investment banking business, said a person with knowledge of the matter. Shen Dehua, most recently investment banking head of HSBC Holdings Plc’s Qianhai securities venture, joined UBS Securities ...

Bloomberg Australian central bank chief Philip Lowe kept his head below the parapet by keeping interest rates unchanged less than two weeks out from an election, saying lower unemployment is needed to drive faster inflation. Lowe left the cash rate at 1.5 percent — where it has stood since he took the helm in September 2016 — after economists and ...

Bloomberg The European Central Bank’s (ECB) outgoing chief economist has some parting words for his colleagues on the Governing Council: be careful when planning your future strategy. Peter Praet, whose term ends this month, dived into the debate over whether the ECB needs to revisit its interpretation of price stability, which it sees as keeping inflation just under 2 percent. ...