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

Bloomberg President Donald Trump stood by his plans to reduce the US footprint in the Middle East but said in an interview to be broadcast on Sunday that he intends to maintain a presence in Iraq, in part to keep tabs on Iran. Trump also said he’d ignore the advice of intelligence community officials on Iran if their views run ...

Bloomberg UK Prime Minister Theresa May insists she’s “determined” to deliver Brexit “on time,” on March 29, despite ministers in her own Cabinet suggesting a delay could be needed. She promised to return to Brussels with renewed commitment and “new ideas” to deliver a deal. May says even Jeremy Corbyn agrees the Brexit deal needs changes to backstop. But the ...

Bloomberg The Philippines will protest China’s opening of a maritime rescue center in the South China Sea, Foreign Affairs Secretary Teodoro Locsin said, just days after President Rodrigo Duterte’s spokesman said the nation should be grateful for the move. Locsin said he supports Supreme Court Justice Antonio Carpio’s position that the Philippines must contest China’s construction of the rescue center ...

Bloomberg Venezuelans marched in dueling protests, with the two men who claim to be the divided nation’s president each exhorting followers to hold firm and that victory was certain. But only one man will prevail, and the unusual split-screen rallies offered no decisive hints, just more proof that Venezuela’s crisis is digging ever deeper and that the nation’s powerful military ...

Bloomberg Soaring production in North America’s most prolific oil field helped propel Exxon Mobil Corp. and Chevron Corp. to bigger-than-expected fourth-quarter profits. Chevron surprised analysts and investors with a $25-billion stock buyback pledge and shares for both explorers were among the day’s best-performing energy stocks. Exxon surpassed analysts’ forecasts by almost one-third with the biggest refining bonanza in six years ...

Bloomberg The Gulf of Mexico is turning into a parking lot for Venezuelan crude, as the US sanctions on Petroleos de Venezuela SA essentially stop the flow of oil from the Latin America country. Tankers holding about 6 million barrels of Venezuelan oil are floating in the US Gulf Coast or heading there, according to data from cargo-tracking and intelligence ...

Bloomberg First, Indian tycoon Vijay Mallya faced losing his “palatial” London home, with UBS Group AG saying it wanted to foreclose. Then, a judge said he should be extradited to India. Now, banks are eyeing two superyachts and a collection of valuable cars that they believe he may own. A group of Indian banks — which are trying to collect ...

Bloomberg Central Group, which controls Thailand’s biggest shopping mall and department store operator, plans to invest $200 million in ride-hailing giant Grab, people familiar with the matter said. The deal seals a strategic partnership under which the conglomerate will help Grab expand its business in Thailand, said the people, who asked not to be named because the information is private. ...

Bloomberg The chairman of Huawei Technologies Co. says the company would “never do anything to harm any country, any organisation or any individual,” according to an interview in the Globe and Mail. Technological divisions between countries with different ideologies “would not be beneficial for humanity, nor for technological progress,” Liang Hua said in an interview at Huawei’s headquarters in Shenzhen, ...

Bloomberg Hong Kong’s retail sales missed estimates in December, as a slowing mainland economy dampened consumer sentiment and the surge in cross-border tourists failed to translate into a spending bump. The city’s retail sales by value expanded 0.1 percent last month from a year earlier, compared with the median estimate of 1.4 percent among six analysts surveyed by Bloomberg and ...