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

Bloomberg Philippine President Rodrigo Duterte said he will let lawmakers decide what to do with a tax law that his administration lobbied for and is now being partly blamed for rising prices. “The law was enacted by Congress, I leave it to Congress to decide whether or not to amend, suspend or modify the law,” Duterte said in a speech ...

Every year, the Federal Reserve conducts a massive survey of American households to paint a portrait of their economic habits and spirits. The recently published findings for 2017 are worth examining for what they say about who should — and shouldn’t — get credit for the resilient US economy. Hint: It’s not who you think. Naturally, President Trump claims paternity. ...

When it comes to the unemployment rate and the stock market, lower is not always better. Investors cheered jobs report, which showed that the unemployment rate in May dropped to 3.8 percent. That was a shift from much of the rest of the year, when investors have reacted to strong earnings numbers and positive economic news with concerns that it ...

Country Garden Holdings Co. has a message for Asian debt junkies — the party’s over. China’s largest real estate developer may need to return to the dollar bond market after suspending a planned 20 billion yuan ($3.1 billion) sale on May 29. The firm, no stranger to the offshore world, already squeezed in $850 million of issuance in January, just ...

As US President Donald Trump lobs tariff threats at China, Mexico and Canada, one of the world’s biggest economies has been largely absent from his rhetoric. And yet, Japan stands to bear the brunt of many of them. Unlike its neighbor South Korea, which was exempted, Japan has been struck with levies on steel and aluminum by a Trump executive ...

Italian President Sergio Mattarella might think he has taken a principled stand in vetoing euroskeptic Paolo Savona as finance minister, effectively disallowing a government led by the Five Star Movement and the League. But in rejecting the choice of a popularly elected coalition, he may well have set in motion a financial crisis from which it will be hard to ...

Beware food companies relying on their bookkeeping rather than their cooking to keep investors satisfied. A number of food companies have recently been selling their IOUs to deal with the fact that their customers, namely giant retailers like Walmart Inc., are taking longer to pay. The sales bolster cash flows, but critics contend they can make the giant food companies’ ...

Trump has turned on longtime allies, labeling them a national security threat in order to levy 25 percent tariffs on steel and 10 percent on aluminum. For neighbouring Mexico, this will affect some $3 billion in exports. While not insignificant, it is just a speck of the $300 billion-plus the nation sends north each year (for Canada, steel and aluminum ...

Bloomberg Beset with political drama in Italy, trade angst in China, a surging dollar, a plummeting Treasury yield and weakening economic data in Europe, equity investors in the US still managed to muddle through. In fact, as far as Mays go, this was a good one, the best for the S&P 500 Index since the bull market began. The benchmark ...

Bloomberg So much for the backlash against initial coin offerings. Sales of digital tokens by technology companies this year have already surpassed the record amount raised in all of 2017 even as government officials from China to the US clamp down on offerings and incidents of fraud continue. Block.one, a Cayman Islands-based startup that’s behind the EOS token, is on ...