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

Bloomberg The good news for global natural gas exporters is that India’s largest utility is hunting for new supplies to import. The bad: It’s seeking shorter deals than have been traditional in the past. India now consumes almost 22 million metric tons a year of liquefied natural gas, but that demand could double within just four to five years, according ...

Bloomberg Yingli Green Energy Holding Co., once the world’s biggest solar-panel manufacturer, has been delisted from the New York Stock Exchange as its value has plummeted. Trading was suspended after the exchange told Yingli it failed to maintain an average market capitalisation of at least $50 million for 30 consecutive trading days, the Baoding, China-based company said in a statement. ...

Bloomberg Oil posted the biggest weekly rise in more than two months as shrinking stockpiles and supply disruptions from Canada to Libya compounded the growing isolation of OPEC’s third-largest oil producer. Futures advanced 8.1 percent this week in New York, above London-traded Brent crude’s gain of 5.1 percent. The world’s two most important oil benchmarks are diverging as Saudi Arabia’s ...

Bloomberg Mazda Motor Corp. became the latest auto company to condemn the Trump administration’s plans for potential car import tariffs, saying such duties would hit both the industry as well as US consumers. The Japanese manufacturer said it filed comments on the Commerce Department’s investigation into car-related imports, urging it to “reject the premise that auto imports are a threat ...

Bloomberg HNA Group Co., the Chinese conglomerate selling assets to pay down debt, is exploring a sale of Radisson Hotel Group, according to people familiar with the matter. HNA has been gauging interest from rival hotel chains and other potential buyers of the Minneapolis-based company, said the people, who asked to not be identified because the matter isn’t public. There ...

Bloomberg ZTE Corp. has appointed a new chairman from a state research outfit that backed its founding decades ago, taking another step toward cleaning house and freeing itself from a ban on American technology purchases. Shareholders voted in Li Zixue, the 54-year-old deputy director of the Xi’an Microelectronics Technology Institute, as chairman, according to a Shenzhen stock exchange filing. The ...

Bloomberg China’s official factory gauge fell more than expected in June, just as the world’s two biggest economies head toward a trade war. The manufacturing purchasing managers index stood at 51.5 in June, versus 51.9 in May, and the forecast of 51.6 in a Bloomberg survey of economists. The non-manufacturing PMI, covering services and construction, rose to 55, the statistics ...

Bloomberg Hong Kong will charge additional rates on unsold new apartments in a bid to limit hoarding by developers and cool a red-hot property market. Apartments left vacant for more than six months will be charged a 200 percent rate of the rental value, or equivalent to about 5 percent of the unit’s price, according to Chief Executive Carrie Lam, ...

Bloomberg After several quarters on the bench, Nike Inc. has finally healed the damage inflicted by Adidas AG. Nike increased sales in North America for the first time in a year, after its smaller European rival had been outmaneuvering the sneaker giant on its home turf. Nike’s improved performance, sparked by new products and a smartphone shopping app, unleashed a ...

Bloomberg Indonesia’s Bali airport resumed services after a halt caused by a fresh eruption at the Mount Agung that sent volcanic ashes several miles high into the sky above the popular tourist island. The airport opened at 2.30 pm local time on June 29, according to its twitter feed. The shutdown, the second in seven months, led to cancellation of ...