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

Bloomberg Singapore’s beleaguered rail system can’t catch a break. Days after a software glitch caused a train collision that injured more than 30 people, lightning struck a train on the same line. Literally. A mass rapid transit train on the East-West Line was struck by lightning on Monday afternoon, causing delays in journey times, The Straits Times reported. The lightning ...

Bloomberg Britain’s productivity malaise may find a solution from the unlikeliest of places—Brexit. Poor productivity has long been the bane of the UK, with output per worker far below the Group-of-Seven average and successive predictions for a recovery since the financial crisis failing to materialise. Still, according to UBS Wealth Management economist Dean Turner, Britain’s exit from the European Union ...

Bloomberg Qualcomm Inc. investors want at least $10 more than the $70-a-share Broadcom Ltd. is offering. If history is any guide, they might get partway there. “We would be very interested in evaluating an offer that begins with an 8,” said Daniel O’Keefe, a fund manager of the $3.1 billion Artisan Global Value Fund, which owns Qualcomm stock. The board ...

Bloomberg Marvell Technology Group, a chipmaker looking to build itself a future outside of a declining area of the market, has agreed to buy Cavium Inc. for about $6 billion. The buyer will pay $40 in cash plus 2.1757 Marvell common shares for each Cavium share, according to a statement Monday. Marvell plans to use $1.75 billion in debt financing ...

Bloomberg London’s iconic red double-decker buses will soon run on a biofuel partially made from old coffee grounds. The fuel will be supplied by a demonstration project set up by Bio-bean Ltd., a London-based company that joined with Royal Dutch Shell Plc on the initiative. It will produce 6,000 litres a year of the fuel. “It’s got a high oil ...

Bloomberg German Chancellor Angela Merkel’s bid to form a new government failed, raising the prospect of fresh elections in Europe’s largest economy and casting doubt on the future of its longest-serving leader. A month of coalition talks collapsed in dramatic fashion just before midnight on Sunday as disputes among a grab-bag of disparate parties over migration and other polices led ...

Bloomberg Kenya’s top court upheld Uhuru Kenyatta’s presidential win, ending three months of electoral uncertainty that have slowed growth in East Africa’s biggest economy. Stocks gained the most in two months. Kenyatta won the rerun fairly and electoral authorities’ failure to hold polling in the country’s western region didn’t invalidate the outcome, the Supreme Court ruled on Monday, rejecting all ...

BAGHDAD / Reuters Iraq’s Supreme Federal Court ruled on Monday that a referendum held on Kurdish independence was unconstitutional and that the results of the vote were void, a court spokesman said. Kurds voted overwhelmingly to break away from Iraq in a referendum held on September 25, defying the central government in Baghdad as well as neighbouring Turkey and Iran ...

Bloomberg Zimbabwean lawmakers are set to begin impeachment proceedings against President Robert Mugabe on Monday, after he defied a ruling party directive to end his 37-year rule. The 93-year-old Mugabe was widely expected to announce that he was stepping down in a televised address on Sunday night to enable Emmerson Mnangagwa, who he had fired as vice president earlier this ...

Bloomberg Chile’s presidential election is heading for a hotly contested second round after billionaire Sebastian Pinera took a smaller-than-expected lead in Sunday’s vote. The opposition leader had 36.7 percent of the vote with 89 percent of ballots counted, the electoral service said, short of the 50 percent plus one vote he needed to avoid a run-off. His rival in the ...