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

Bloomberg Tencent Holdings Ltd.’s rise into a $500 billion company was fuelled by a culture of internal competition, where teams raced against each other to make ideas work. To become an advertising powerhouse like Facebook Inc., the internal barriers are starting to come down. The seven main business units of China’s largest company are working to synchronise data and study ...

Bloomberg Huochebang and Yunmanman, China’s two biggest apps for Uber-like truck services, have agreed to merge, creating a company valued at more than $2 billion, people familiar with the matter said. Wang Gang, a backer of Yunmanman’s and an angel investor in ride-hailing giant Didi Chuxing, will become the chief executive officer of the new entity, the people said, asking ...

Bloomberg Chinese industrial profits maintained their recent surge, underscoring resilience in the economy and strength in producer inflation. Industrial profits increased 25.1 percent in October from a year earlier, compared with a 27.7 percent pace a month earlier that was the highest in almost six years, the National Bureau of Statistics said on Monday. Profits in the first 10 months ...

Bloomberg Hong Kong’s red-hot housing market shows no signs of cooling anytime soon. Prices in the city have climbed 11 percent this year, defying skeptics waiting for the bubble to burst and government attempts to rein in the world’s most expensive housing market through a raft of taxes and mortgage curbs. If anything, the frenzy has intensified in recent months ...

Bloomberg Business Secretary Greg Clark said reviving Britain’s flagging productivity lies at the heart of the industrial strategy he was expected to unveil it on Monday to help chart the future of Britain’s economy as the country leaves the EU. While Britain would pursue the strategy “regardless” of Brexit, the plan will take the sting out of the uncertainty sparked ...

Bloomberg Women working in London are paid the least relative to their male counterparts in the whole of the UK. The gender pay gap in London is almost as big now as it was in 1997, meaning the UK capital has gone from having the narrowest divide to the widest in 20 years as other UK regions posted greater improvements, ...

Bloomberg Meredith Corp. agreed to acquire Time Inc. for $2.8 billion including debt, swallowing the once-mighty home of Fortune and Sports Illustrated after the internet age wreaked havoc on even the most prestigious magazine titles. The $18.50-a-share offer is an all-cash one, Meredith said in a statement. The deal gives Meredith, publisher of Better Homes & Gardens, a larger audience ...

Bloomberg Italian consumer confidence unexpectedly fell this month as shoppers start to plan their Christmas gift expenditures. The household sentiment dropped to 114.3 from a revised 116.0 in October, statistics agency Istat said Monday in Rome. The median estimate in a Bloomberg survey of 12 analysts called for a November reading of 116.5. “It’s bad news ahead of Christmas,” said ...

Bloomberg Cable companies are settling on a new strategy to combat streaming services like Netflix and Hulu: If you can’t beat ’em, join ’em. Comcast Corp. and Charter Communications Inc., the two biggest US cable operators, are in talks to offer Hulu’s on-demand service through their set-top boxes, according to people with knowledge of the matter. Comcast, the largest cable ...

Bloomberg Germany’s political stalemate showed signs of easing as the Social Democrats started haggling over terms of a renewed coalition with Chancellor Angela Merkel’s conservative bloc rather than outright blocking an alliance between Germany’s two biggest parties. The possibility of the SPD again joining a Merkel-led government in a “Grand Coalition” has unfolded quickly, with the party opening the door ...