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

For the past year, euro-zone leaders have vowed to take steps to complete Europe’s monetary union. The 19 countries share a single currency and a central bank, but they still lack all the necessary mechanisms to deal with major imbalances and shocks. While some members would like to have more fiscal transfers and a common safety net for the banks, ...

There are big changes at the Reserve Bank of New Zealand (RBNZ), most of which are welcome. The new governor should consider another break with the past: Drop the hubris. Adrian Orr, who took the central bank’s helm last month, is to explicitly aim for maximum employment as well as price stability. That’s a break from the previous regime that ...

The guests are starting to arrive, but the house isn’t quite ready for this party. That’s the way to view a slew of recent measures to open China’s $40 trillion financial industry to outsiders. This week, Beijing granted additional quotas for domestic funds to invest in overseas securities under the QDII plan, the first time it has done so in ...

If you’re ever looking for examples of hope triumphing over experience, look no further than the emerging-market economies. Even as the Federal Reserve tightens US monetary policy, both investors and policymakers in those economies seem to be in denial about the likely fallout, clinging to the hope that somehow the impact of this round of global liquidity tightening will be ...

Hassan Soukar Over the past few years there has been a remarkable surge in demand for second citizenships among high-net-worth expatriates living in the UAE. But the spike in interest for acquiring second passports has been all-time high in the first three months of 2018. The whole industry is coming of age. The second passports are not only seen just ...

Bloomberg Amazon.com Inc. has partnered with General Motors Co. and Volvo Cars to deliver packages to car trunks in 37 US cities, as the e-commerce giant seeks new delivery methods for customers who may be wary of leaving packages outside or allowing couriers into their homes. The app-based service, which lets car owners provide delivery agents with keyless access to ...

Bloomberg Alibaba Group Holding Ltd. is getting its digital assistant into Mercedes-Benzes, Audis and Volvos in China, enlisting a clutch of global automakers in an effort to popularise the year-old technology for everything from shopping to home security. Daimler AG, Volkswagen AG and Zhejiang Geely Holding Group Co.’s Volvo join some 100 brands Alibaba says it’s partnered with. The Chinese ...

Bloomberg International Business Machines Corp., a group of four gold and diamond industry companies and an independent laboratory are developing a blockchain network for tracing the provenance of finished pieces of jewelry from mine to store. The TrustChain Initiative, which will run on IBM’s technology, includes precious-metals refiner Asahi Refining, US jewellery retailer Helzberg Diamonds, precious-metals supplier LeachGarner, jewellery-maker the ...

Bloomberg The leaders of Asia’s two most-populous countries agreed to strengthen communication between their two militaries to avoid disputes along their contested Himalayan border, after last year’s months-long standoff over territory in Bhutan. Chinese President Xi Jinping and Indian Prime Minister Narendra Modi met for an “informal summit” in China’s central city of Wuhan on April 27 and on Saturday. ...

Bloomberg Earlier this week Brazil’s President Michel Temer called the ten Senate leaders of his ruling coalition to discuss the year’s legislative agenda. Only four showed up. Later that same day, the plenary of the lower house, which was due to vote on key bills to help the country recover from the worst recession on record, was conspicuously empty. Instead, ...