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

In view of the deepening Brexit gloom ahead of the meeting, last week’s amicable European Union summit was moderately encouraging: At least the talks didn’t break down. Both sides ought to understand, however, that when they meet next time, moving to actual trade negotiations is essential. Instead of negotiating the shape of their future trade arrangements, Britain and the EU ...

Along with its Silicon Valley brethren, Facebook is scrambling to respond to pressure from Congress about the flood of fake news and bogus political ads on its site. The deluge is also doing great damage, it’s worth pointing out, far from Washington. Facebook’s fastest-growing markets are in the developing world, where the problem of fake news is even more devilishly ...

If there is anything to be gained from President Donald Trump’s ‘disgraceful’ attack on the credibility of the widow of a US Special Forces soldier killed in Niger, it’s that Americans are finally becoming aware of the expanding US mission against extremist violence now spreading across the Sahel region of Africa. As Joint Chiefs of Staff Chairman Joseph Dunford explained ...

People tend to like big, sweeping theories of economic history. When Karl Marx foretold a supposedly inevitable series of class conflicts and revolutions that would end in a communist utopia, the idea was so powerful that it inspired revolutions, alternative economic systems and wars. Other thinkers depicted economic history as the triumph of a particular culture, or the inevitable ascendance ...

After three years of hand-wringing, India has finally done the right thing by its struggling banks. The 2.1 trillion rupees ($32 billion) capital infusion into state-run lenders announced by Finance Minister Arun Jaitley on Tuesday evening has been well received by rating companies, despite its unconventional structure. As much as 1.35 trillion rupees will come from banks’ own resources. The ...

Zhou Xiaochuan, the long-serving and respected governor of the People’s Bank of China, raised eyebrows last week when he cautioned that the country could have a ‘Minsky Moment’ if “we are too optimistic when things go smoothly.” Although he was right to warn against policy complacency and general economic overconfidence, particularly in the context of a growth model that still ...

Bloomberg This week is fraught with peril for Treasuries traders, no matter if they’re bulls or bears. The next five trading days will bring a torrent of market-moving information: President Donald Trump is poised to finally announce his nominee to lead the Federal Reserve; US central bankers have an interest-rate decision to make; a House committee is set to release ...

Reuters Petrochemical stocks and an earnings beat by Saudi Telecom Co lifted Riyadh’s stock market on Sunday while other Gulf bourses were sluggish, once more ignoring a strong performance by Wall Street on the previous trading day. The Saudi stock index climbed 0.7 percent. Unusually, four of the 10 most active stocks were petrochemical producers after oil prices rose sharply ...

Bloomberg UBS Group AG Chief Executive Officer Sergio Ermotti is reviving investors’ expectations for a share buyback after the bank’s capital buffers rebounded and profit increased. The bank’s CET1 capital ratio rose to 13.7 percent in the three months through September, up from 13.5 percent in the second quarter. UBS has pledged to return at least half its net profit ...

Bloomberg Deutsche Boerse AG Chief Executive Officer Carsten Kengeter resigned amid growing shareholder pressure after he became embroiled in an insider-trading probe. The company also said it isn’t likely to meet its full-year earnings targets. The CEO will step down on December 31 “in order to allow the company to focus its energy back onto clients, business and growth and ...