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

“I’m really enjoying the season finale of the UK,” quipped Irish software engineer Damian Sullivan on Twitter. His joke may not be far off the mark. Brexit negotiations are looking more and more like the type of destructive brinkmanship that the US has seen in recent years. But the stakes are much higher in the UK — rather than just ...

In the past decade, China has relied primarily on credit growth to fund its economic ambitions. The country’s banks are now feeling the constraints of this lending binge and need to raise a lot of capital over the next couple of years. The way China handles this challenge will determine its economic health. With 267 trillion yuan ($39.4 trillion) of ...

Facebook Inc.’s “family” of apps is about to get even closer. The New York Times reported that Facebook is planning to more closely integrate the apps it owns, including its Messenger and WhatsApp instant chat services, as well as photo-and-video-focused Instagram. The decision is both an inevitable end to independence for properties that Facebook acquired and initially left largely alone, ...

Bloomberg Societe Generale SA is making a last-ditch effort to boost its performance after a trading slump threatened Chief Executive Officer Frederic Oudea’s targets. The French bank — recovering from regulatory probes that cost it billions of euros and a management reshuffle — plans to cut jobs in less profitable investment banking businesses to save at least 100 million euros ...

Bloomberg The head of Swedbank’s Estonian unit Robert Kitt is among three nominees who are in the running to replace central bank chief Ardo Hansson as the Baltic nation’s voting member on the European Central Bank’s Governing Council. The nominees, listed by the central bank’s eight-member supervisory board, also include deputy Governor Madis Muller and senior Finance Ministry official Marten ...

Bloomberg Metro Bank Plc fell the most since going public after applying an incorrectly low risk weighting to parts of its loan book, with the British lender’s chief saying he doesn’t know how long the mortgages in question had been wrongly classified. The shares plunged as much as 39 percent and the bank’s bonds also fell on concern it will ...

Bloomberg Don’t be fooled by the Bank of England’s (BOE) recent unanimity — the debate will become more heated. While Brexit has split Britain down the middle, policy makers have voted 9-0 on interest rates for the past four meetings and generally stayed quiet on the outlook as the UK’s impeding divorce from the European Union becomes more fraught. Governor ...

Bloomberg It may take a few years for blockchain’s impact to be felt meaningfully, but it will provide some advancements in certain areas even as cryptocurrencies falter, according to JPMorgan Chase & Co. “Blockchain isn’t going to reinvent the global payment system, but it will provide marginal improvements,” JPMorgan’s chair of global research, Joyce Chang, said in an interview. “The ...

ABU DHABI / WAM The Department of Health Abu Dhabi (DoH), launched its Artificial Intelligence (AI), Lab at Arab Health 2019. The AI Lab is a first-of-its-kind initiative in region, dedicated to developing healthcare solutions through emerging technologies including AI, Blockchain, genomics, predictive analytics and Internet of Medical Things, among others. Bringing together individuals, industry experts and service providers, the ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received on Tuesday, Sheikh Nasser bin Sabah Al-Ahmad Al-Sabah, First Deputy Prime Minister and Minister of Defence of Kuwait. His Highness welcomed Sheikh Nasser Al-Sabah, and held discussions on the brotherly relations between the ...