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

Houses are made of bricks and mortar, but a builder’s key raw material is land. Once, its value roughly tracked house prices. But that relationship has broken down, much to the benefit of the large homebuilders. In conversations with analysts and investors, developers like Taylor Wimpey Plc, Crest Nicholson Holdings Plc and Redrow Plc have continually alighted on the same ...

Soon, Japanese banks may no longer be the cheapest in the world. The yield-curve control undertaken by the nation’s central bank has done lasting damage. Data compiled by Bloomberg on financial institutions with a market capitalization of $10 billion or more show those from Japan are the biggest value traps, trading at just 0.69 times book, despite having an average ...

Americans have never been more addicted to devices. Thanks to the mobile revolution initiated by the iPhone, the US alone is home to 238 million mobile phones and 140 million tablets that are rarely shut down. And their numbers are growing, thanks to a perpetual upgrade cycle and demand for new features. For environmentalists, it’s a looming electronic nightmare in ...

Wal-Mart joined other companies in announcing an employee wage hike and bonus program. Citing “the opportunities tax reform creates for us,” the retailer said that the measures “will benefit the company’s more than one million US hourly associates.” Interest in this announcement extends well beyond the company itself. The move raises relevant questions for those seeking to predict the future ...

Global pharmaceutical companies have bemoaned for years India’s capricious policies on prices and patents. Now the government needs billions of dollars for its “Make in India” program, why can’t the industry get a fairer deal? When it comes to intellectual property, it’s now understood—and grudgingly accepted—that India’s use of compulsory licensing won’t go away. Ever since New Delhi used this ...

Bloomberg China’s banking regulator pledged to continue its crackdown on malpractice in the $38 trillion industry in 2018, vowing to tackle everything from poor corporate governance and violation of lending policies to cross-holdings of risky financial products. The China Banking Regulatory Commission unveiled its regulatory priorities for the year in a statement. They include: Inspecting the funding source of banks’ ...

Bloomberg India should make it easier for new banks to open in the South Asian nation, according to a new report from the Brookings Institution. The Reserve Bank of India could consider easing rules for allocation of permits, including an initial capital requirement of 5 billion rupees ($79 million) and so-called priority sector lending targets, which include loans to farmers ...

Bloomberg The pound has hit the highest level since the Brexit vote in 2016, yet JPMorgan Chase & Co. remains relatively glum on its prospects. While recent Brexit developments have been constructive, the bank sees sterling failing to maintain its strength amid flagging economic fundamentals and a “non-negligible risk” that Brexit talks collapse. It sees the pound falling to $1.30 ...

Bloomberg Germany’s central bank has decided to include the Chinese yuan in its own reserves, in a further boost to the international status of the currency. Speaking at an event in Hong Kong on Monday, Bundesbank board member Andreas Dombret said the decision was taken last year following an investment of 500 million euros ($611 million) by the European Central ...

Bloomberg Morocco will loosen its currency peg in a long-awaited move aimed at strengthening its economy and avoiding financial imbalances that forced a slew of emerging nations into sharp devaluations. Bank al-Maghrib, as the central bank is known, will allow the dirham to fluctuate 2.5 percent above or below its official rate, significantly widening the band from 0.3 percent each ...