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

Bloomberg Mubadala Investment Co opened an office in New York as the Abu Dhabi wealth fund builds on its presence in the United States. “Today we have offices in San Francisco, we have offices in Rio De Janeiro, we have offices in Moscow, we have an office in New York City which we just inaugurated, and Hong Kong by the ...

Bloomberg Network International shares surged in London trading after the payments processor raised 1.1 billion pounds ($1.4 billion) in an initial public offering that’s the biggest listing in Europe so far this year. Network International jumped 22 percent to 532.20 pence in London. The Dubai-based company sold 200 million shares for 435 pence each, according to a statement on Wednesday. ...

SHARJAH / WAM Dana Gas has announced that its average production for Q1, 2019 has increased by 6 percent year-on-year to 68,700 barrels of oil equivalent per day (boepd) from 65,000 boepd in Q1 2018. The first quarter production increase was led by the KRI (Kurdistan Region of Iraq), which leapt to 32,750 boepd in Q1, 2019 from 26,300 boepd ...

ABU DHABI / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, affirmed that there is a “high probability” of achieving balance in the oil market by the end of 2019. “The Joint Ministerial Monitoring Committee (JMMC) in Jeddah next month will look into the prevailing market conditions and decide to continue the output cut deal ...

As the German economy reverts to a slow and steady growth trend after a short-lived boom, it can rely on an unusual resource that helps to protect it from declines: A bigger low-paid workforce than even most economists realise. Last week, Markus Grabka and Carsten Schroeder of the German Institute for Economic Research in Berlin reported on this phenomenon. They ...

Heading into an election, India’s enthusiasm for cars and motorbikes has all but evaporated. It’s unlikely to return anytime soon, despite all the grand promises to improve the lives of masses. Passenger car sales, which have been sliding since last summer, fell another 6 percent last month while those for motorbikes – the larger and more profitable market – collapsed ...

It could have all been so different. Debenhams Plc, is expected to be taken over by its lenders in a restructuring after they rejected a 200 million-pound ($261.6 million) lifeline from Sports Direct International Plc. The equity, including the 30 percent stake held by the sportswear retailer, will be wiped out. The shares were suspended early on Tuesday. After operating ...

Donald Trump isn’t shy about using trade as a weapon to get what he wants. He has slapped tariffs on $250 billion of Chinese goods as he tries to deliver what he claims will be an “epic” trade deal for the American people. Now he’s using a similar playbook against Europe, just as it prepares to start trade talks with ...

When I use Google Maps, it gives me several options, but I usually take the one it highlights without thinking too much about it. Do energy and climate road maps work the same way? Some 60-odd signatories representing a swath of investment funds, scientific institutions, and think tanks suggest they do, in a recent letter to Fatih Birol, executive director ...

Activist investor Dan Loeb is having a second crack at Sony Corp. His Third Point LLC is building a stake in the Japanese electronics and entertainment conglomerate, with a view to pushing for change, Reuters reported, citing sources it didn’t name. Shareholders loved the news, driving the company’s Tokyo shares up as much as 7.4 percent on April 9 after ...