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

Chinese industrial borrowers are strapped for cash, as billions of dollars of debt come due this year. The ones that benefited from Beijing’s largess should be most worried. Issuers are on the hook for more than 6 trillion yuan ($890 billion) in 2019, up 15% from a year earlier. Companies in sectors including mining and materials, capital goods and real ...

India isn’t keeping the best company. When Reserve Bank of India (RBI) officials reviewed the global economy at February’s meeting, they ticked off a list of major emerging markets that had struggled: China, Russia, Brazil and South Africa all got a must-do-better grade. Disappointing numbers mean policy makers can add one closer to home: India itself. Gross domestic product rose ...

If a conventional company wants to experiment in an unfamiliar industry, it might create a small working group, make a tiny number of products, test what works and slowly expand if its approach catches on. Amazon.com Inc. is not a conventional company. After spending a decade essentially doing the slow-and-steady experimental approach in groceries with its Amazon Fresh delivery service ...

Bloomberg US equity futures advanced alongside global stocks after the US and China were said to close in on a trade deal that may end American tariffs in return for Chinese concessions. The dollar edged higher with Treasuries, while commodities were mixed. Gains in media and construction shares led the Stoxx Europe 600 Index to the highest level in five ...

Bloomberg News that the US and China are near a trade deal that could lift most or all American tariffs did little to bring out the animal spirits from Asia stock traders. But when China said “substantial progress” was made, that appeared to do the trick. The MSCI Asia Pacific Index spiked up around 11:24 a.m. in Hong Kong, with ...

ABU DHABI / WAM A total of AED18.7 billion of dividends have been proposed by as many as 18 listed UAE national banks for 2018, 12.2 percent up from AED16.66 billion in 2017. The growth in dividend distribution reflects robust solvency position of UAE banking sector, reckoned among Mena’s most resilient with estimated AED2.9 trillion of assets by 2018-end. The ...

Bloomberg Uber Technologies Inc. is in advanced discussions to buy Dubai-based Careem Networks FZ, a deal that would expand the ride-hailing giant’s operations in the Middle East, according to people familiar with the matter. The companies may announce a cash-and-sh-ares transaction that values Careem at about $3 billion in the coming weeks, the people said, asking not to be identified ...

DUBAI / Emirates Business Schneider Electric, the leader in digital transformation of energy management and automation, announced ahead of Middle East Electricity that smart cities are driving the GCC’s smart grid market to $33 billion by 2042. GCC nationwide digital transformation and smart cities are weaving energy efficiency throughout every project — across renewable energy generation, more efficient power distribution ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) has launched a new service that will enable customers to collect security deposits and credit refunds from Western Union agents in the UAE and around the world. The service is part of Dewa’s efforts to ensure convenience of customers, by saving them time and effort in implementation of an agreement ...

Bloomberg Kuwait is planning to create a $10 billion fund with China to invest in the two countries, according to people with knowledge of the matter. The Gulf state is discussing the creation of a Kuwait-China Silk Road Fund that would invest in Kuwaiti projects related to the Silk City and islands development, according to the people. It could also ...