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

Bloomberg Pressure mounted on Sudan’s military rulers to cede power as the African Union echoed protesters’ calls for a swift handover to a civilian government in the wake of long-time leader Omar al-Bashir’s ouster. Demonstrators kept up their carnival-like sit-in outside army headquarters in Khartoum, the capital, for an 11th day, despite an apparent bid to disperse them. The Sudanese ...

Bloomberg French citizens joined global leaders to rally behind Emmanuel Macron in the aftermath of a fire that ravaged the iconic Notre-Dame Cathedral in Paris, giving the French President an opportunity to quell the political volatility that’s embroiled his government. Macron vowed to rebuild the 850-year-old Gothic monument, an issue that’s united the French population across the political spectrum, with ...

Bloomberg Respect among Russians for Joseph Stalin has surged to the highest level of President Vladimir Putin’s era, with 70 percent saying his rule had been good for the country, according to a poll tracking attitudes towards the Soviet dictator. A record 51 percent viewed Stalin positively in March, up from 40 percent a year earlier, the survey by the ...

Bloomberg The US’s killing of the deputy leader of an IS faction in Somalia’s Puntland will blunt the group’s ability to carry out further attacks in the semi-autonomous region that sits near a key shipping lane, Puntland’s security minister said. The US confirmed it carried out an airstrike that killed Abdulhakim Dhuqub in the northeastern Somali region. It described Dhuqub ...

Bloomberg US stocks faltered in their pursuit of all-time highs as investors sifted through a group of high-profile earnings for clues on the strength of the American economy. The 10-year Treasury yield reached its highest level since the March Federal Reserve meeting. The S&P 500 failed to hold its six-month high after UnitedHealth Group Inc erased a gain that topped ...

Bloomberg There is a complacency haunting foreign-exchange markets. Measures of how much traders expect currencies to gyrate over the coming months have plunged amid apparent assurances from central banks that they aren’t going to create major waves with further policy normalisation anytime soon. But some observers, including strategists at Canadian Imperial Bank of Commerce, Morgan Stanley and Scotiabank are raising ...

Bloomberg Deutsche Bank AG estimates it could lose the equivalent of almost a fifth of Commerzbank AG’s annual revenue should it go ahead with a takeover of the lender, another potential sticking point for a deal that’s run into hurdles of late. Customers seeking to reduce their exposure to the combined lender could pull business worth 1 billion euros to ...

Bloomberg The Bank of Japan (BOJ) needs a vision for eventually unwinding its massive asset purchases if it eases policy further, according to a former BOJ official. “It’s becoming important for the BOJ to not simply say it is strengthening stimulus but to plot the course of events, to tell the story of how these steps will lead to normalisation,” ...

Bloomberg Government companies in South Africa that have had billions of rand looted through a process known as state capture shouldn’t be bailed out by the central bank even as they pose a significant fiscal risk, Governor Lesetja Kganyago said. “The challenge of dealing with too-big-to-fail SOEs, of combining cash injections with conditionality measures, needs to be dealt with by ...

Bloomberg UniCredit SpA ended one its most significant legal disputes by settling a US probe over sanctions violations, clearing the path for the lender to focus on growing its business after years of cleaning up legacy issues. The bank agreed to pay $1.3 billion to settle US charges for violating sanctions against Iran that have been hanging over UniCredit since ...