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

Bloomberg Former Pakistani PM Nawaz Sharif will return to the country from London on July 13 to face a 10-year jail sentence handed down by an anti-corruption court, which convicted him for not declaring assets. Sharif will reach Lahore, his home town and political stronghold, his daughter Maryam, said in a Twitter post. Maryam, who will also return to Pakistan ...

Bloomberg Ethiopia and Eritrea signed a declaration of peace and agreed to reestablish key economic links after an unprecedented summit between the Horn of Africa nations’ leaders that marked the end of almost two decades of strife. The announcements by an Eritrean official and the Ethiopian state-owned broadcaster Fana followed Prime Minister Abiy Ahmed’s visit to the Eritrean capital, Asmara, ...

Bloomberg If a US or global recession is looming, it’s time to own the Swiss franc, Singapore dollar, US dollar and Japanese yen – and ditch emerging market currencies, according to analysts from JPMorgan Chase & Co. “Recessions are when creditors get to ask for their money back,” analysts including Paul Meggyesi said in a note. “Three of the top ...

Bloomberg Global debt is becoming a bigger worry as the global policy tightening cycle takes hold, a top boss at the World Bank warned Monday. “After a decade of low interest rates, the corporate and public debt in many places has ballooned to a staggering $164 trillion,” Kristalina Georgieva, chief executive officer of the World Bank, said in an interview ...

Bloomberg Bank of England (BOE) policy makers are adjusting to an upheaval at the statistics office at the very point when they need as much clarity as possible to help decide whether to raise interest rates next month. The UK is this week shaking up the way it reports growth, publishing monthly updates and delaying its usual quarterly figures. The ...

Bloomberg Makram Azar, chairman for Barclays Plc’s Europe, Middle East and Africa banking operations, retired from his role at the British lender, according to a memo to obtained by Bloomberg News. Azar, who also headed the bank’s Middle East’s operations, will return as a senior adviser in January 2019, according to the memo issued by Joe McGrath, global head of ...

Bloomberg Investment bankers in Hong Kong are catching biotech fever. At least seven senior bankers and analysts from top-tier securities firms have quit to join biotechnology companies in the city since December, responding to the industry’s growing demand for financial expertise after rule changes at Hong Kong’s stock exchange smoothed the path for biotech initial public offerings. Richard Yeh, a ...

Bloomberg A flurry of activity in a remote Canadian town is raising optimism that Royal Dutch Shell Plc and its partners are ready to go ahead with the nation’s largest infrastructure project: a C$40 billion ($30 billion) LNG terminal that could at last unlock energy exports to Asia. The action is unmistakable in Kitimat, British Columbia, the Pacific coast city ...

Bloomberg The possible replacement of the UK’s aging nuclear reactor fleet may offer China’s ambitious atomic power companies an outlet for investment and technology. That could be the driver behind reports over the weekend by London-based Sunday Times that state-owned China General Nuclear Power Corp “made an approach” about acquiring as much as 49 percent in eight UK nuclear power ...

Bloomberg Political and business leaders gathering for an economic conference in southern France over the weekend called on the European Union (EU) to flex its muscles and save a world trade system disrupted by US President Donald Trump as tariff wars escalate among the US, Europe and China. “If tomorrow, there were to be new hikes of tariffs on other ...