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

Bloomberg Millions of Iraq’s Kurds voted in an historic referendum on independence on Monday, defying the dire warnings from neighbors as well as the government in Baghdad—who must now decide how far to retaliate to an expected landslide in favour of secession. Though the ballot was limited to areas under the control of the semi-autonomous Kurdistan Regional Government in northern ...

Bloomberg No matter what Brexit might have in store for foreigners, the UK remains a powerful magnet for youth from Italy and Greece looking for a job and a better future. It’s less so for their peers in Spain and Portugal. That’s according to the latest data on the UK national insurance number from the London-based Office for National Statistics ...

Bloomberg The surge in support for Germany’s anti-immigrant party in weekend elections is a stark reminder of the fault line that cuts through the European Union. Chancellor Angela Merkel starts a fourth term with her victory tainted by the far-right AfD entering parliament for the first time after a particularly strong showing in former East Germany. Next door, the Czechs ...

Bloomberg JetBlue Airways Corp. is urging US regulators to reject Boeing Co.’s fair-trade complaints against Bombardier Inc. as the New York-based airline considers adding new planes to its fleet. Boeing’s claim that Bombardier sold its C Series jets in the US at less than fair value thanks to Canadian government subsidies presents “a threat to JetBlue’s ability to continue to ...

Bloomberg Each airline passenger will be worth $4 more per flight to carriers once they’re able to offer uninterrupted broadband services, according to a study commissioned by satellite-communications provider Inmarsat Plc. In-flight connectivity should generate $30 billion for airlines by 2035 out of an overall market of $130 billion including technology providers and related companies, the report compiled by the ...

Bloomberg Target Corp. is giving thousands of its employees a pay raise next month, hoping to stay ahead of Wal-Mart Stores Inc. and other rivals in the war for talent. The retailer announced plans to boost its minimum hourly wage to $11 an hour in October. Target will later up the rate to $15 by the end of 2020. The ...

Bloomberg Obuv Rossii, a Russian shoe retailer backed by billionaire Brooklyn Nets owner Mikhail Prokhorov, is seeking to raise as much as $120 million in an initial public offering, according to a person familiar with the matter. The company may offer a stake of as much as 40 percent on the Moscow Exchange in October and use the proceeds to ...

Bloomberg Europe’s wind power industry may attract 351 billion euros ($417 billion) of investment by 2030 if countries adopt reforms and targets for their energy systems in the next year, trade association WindEurope said. The European Union may create 716,000 jobs with a target for member states to produce 35 percent of their energy from renewables within 12 years, the ...

SINGAPORE / Reuters Oil prices may rise to $60 a barrel by the end of this year or by early 2018 as OPEC and non-OPEC producers are expected to extend supply cuts beyond March, while oil inventories continue to decline, a former Saudi energy ministry official said in Washington. “With the current arrangement and commitment of major producers, and their ...

Bloomberg US crude was back in a bull market on Tuesday as Turkey threatened to shut down Kurdish oil exports in response to the region’s independence vote, while Trafigura Group and Citigroup Inc. added to warnings of a looming supply squeeze. Turkey can “close the valves” on oil shipments from Kurdistan, Turkish President Recep Tayyip Erdogan said. Ankara opposes an ...