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

Bloomberg With a price tag of $75,000 a night, the Mark Hotel is now offering the most expensive hotel suite in America. Built in 1927, this iconic Upper East Side hotel underwent a major renovation from 2006 to 2009. While the historic exterior was untouched, the entire inner workings of the building were replaced, with interiors rethought by famed designer ...

It can be hard to get your head around just how much energy the world uses. Expressed in terms of oil, it was equivalent to almost 14 billion metric tons of the stuff in 2017. That’s like burning through all of Russia’s proved reserves in the space of 12 months, which is, in technical terms, a lot. But there’s an ...

For the group of people meant to be enemies of President Donald Trump’s trade agenda, the revised North American trade deal looks pretty good. Despite the new name (the US-Mexico-Canada Agreement, or USMCA) dropping any references to trade, let alone freedom, the tariff rates on imports from Canada and Mexico are still a mass of zeroes. The main new element ...

Just as the Federal Reserve steadily picks up the pace of rate increases, Wall Street’s quantitative strategists are telling clients to sell US stocks and buy into emerging markets. US central bankers are increasingly confident in their view of the economy. Of the Fed’s 16 voting members, 12 are advocating for one last rate increment this year, bringing the 2018 ...

The Federal Reserve’s decision to raise interest rates was largely a nonevent, given how thoroughly markets had expected it. Nonetheless, it offered a comforting reminder that Fed officials know how to do their job — which these days means ignoring public statements from the chief executive and focusing on the economy. For decades, US presidents have refrained from criticising the ...

President Donald Trump’s latest round of tariffs on China is essentially a tax on Americans, who will pay more for some goods. It’s not a huge cost increase, though, and it might help bring back some of the jobs eliminated by Chinese imports. As a consumer, living without “Made in China” appears to be daunting. In 2005, when US goods ...

London’s ex-Lehman Brothers bankers who’ve been meeting up have found the conversation shifting quickly to Brexit – and whether their next reunion will be in Frankfurt, Paris or somewhere else. As the official March 2019 Brexit deadline looms, banks are in the last stages of preparing for a worst-case “no-deal.” A brutal loss of the City of London’s access to ...

Unilever boss Paul Polman has been conspicuously absent in the controversy over the consumer group’s plan to scrap its dual-headed structure. But the humiliation would be his if UK shareholders veto his plans to create a unified Dutch company. He should get ready to pay them a premium to buy their support. To recap: Unilever’s assets are divided between separate ...

Bloomberg US stocks rose towards records and the dollar slipped with Treasuries after negotiators agreed to a new version of the Nafta trade pact. The Canadian dollar and Mexican peso gained. The S&P 500 Index climbed on the first day of the fourth quarter. General Electric Co. surged after replacing its chief executive, while Tesla Inc. rallied after Elon Musk ...

Bloomberg The Canadian dollar reached its strongest level in four months as the nation joined the US and Mexico in a trade deal to replace the North American Free Trade Agreement. The loonie appreciated about 0.8 percent and touched as strong as C$1.2787 against the greenback, while Mexico’s peso rose for a fourth day. The new trade deal will be ...