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

Bloomberg Kenya is running out of time to ensure a credible rerun of presidential elections that were annulled by the nation’s top court after the main opposition party alleged that they were rigged. With the next vote due in just five weeks, the electoral commission is mired in infighting over who should take the fall for last month’s botched contest. ...

WASHINGTON / Reuters US Supreme Court Justice Anthony Kennedy provided a temporary reprieve for President Trump’s order blocking most refugees from entering the United States, putting on hold a lower court’s ruling loosening the prohibition. Kennedy’s action gave the nine justices more time to consider the Justice Department’s challenge filed to the lower court’s decision allowing entry to refugees from ...

“Congress has been dropping in relative power along a descending curve of 60 years’ duration, with the rate of fall markedly increased since 1933. … The fall of the American Congress seems to be correlated with a more general historical transformation toward political and social forms within which the representative assembly — the major political organism of post-Renaissance Western civilization ...

The Trump administration is looking to ease financial-strength requirements for big banks, on the grounds that they’ve already done enough to avert another crisis. But how much safer have they really become? In recent posts, I’ve offered some less-than-encouraging evidence. Levels of loss-absorbing equity, although higher than before the crisis, still fall far short of what’s needed. And despite the ...

In a sharp and welcome rebuke to President Donald Trump’s approach to foreign policy, a Senate committee voted last week in favor of more diplomacy. Support was unanimous. The Senate Appropriations Committee approved $51.2 billion for the State Department, the US Agency for International Development and other overseas assistance — more than a third greater than the $37.6 billion the ...

Almost a year on, India’s ban on large-denomination bills has been deemed a “total failure.” That’s not quite fair. True, the primary goal of flushing out tax cheats has been a flop. But a secondary goal — “to move toward the cashless society,” as India’s finance minister put it — still has real promise. The rest of the world, in ...

If you’ve ever been to India, it’s likely that you’ve been startled by how young the country looks; the streets of any Indian town, even of its villages, are full of 20-somethings. This isn’t a surprise: India is a very young country. Half of its population is under the age of 25. Two-thirds are less than 35. As a recent ...

Hedge funds are dead. Long live private assets. Remember when hedge funds were the envy of investors? The returns were magical. The managers were gods. And they bestowed their bounty on a select smart-money set. Investors happily paid absurd fees for the privilege, typically a 2 percent management fee and 20 percent of profits. Some investors paid an additional “2 ...

In a recent talk about his new book, “Scale,” physicist Geoffrey West described climate change as a form of entropy –- disorder that’s created as the price of all the order and creative energy pent up in cities. In this view, climate change is not, as some argue, just a euphemism for global warming. It’s a broader term that reflects ...

ABU DHABI / WAM Abu Dhabi is ranked among the top 25 cities in the world in terms of economic competiveness as a financial centre, moving up three rankings from the previous position on Global Financial Centres Index (GFCI). The development was announced during the launch of the GFCI 22 on Abu Dhabi Global Market premises on Monday. “As the ...