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

Bloomberg Angela Merkel’s main challenger, Martin Schulz, sharpened his attack against the German chancellor less than five weeks before the election as his Social Democrats struggle to narrow the gap in polls that give her a dominant advantage. Laying out his pitch in the northern German city of Bremen, where the Social Democrats have governed since 1945, Schulz called for ...

Bloomberg North Korea threatened the US on Tuesday, saying it will face “merciless revenge” for ignoring Pyongyang’s warnings over annual military drills with South Korea. The isolated nation said it would be a misjudgment for the US to think that North Korea will “sit comfortably without doing anything,” the state-run Korean Central News Agency said, citing an unidentified military spoke-sman. ...

BEIRUT / Reuters Lebanon’s president signed off on public sector pay rises and tax hikes, a move that has triggered business concerns but could help politicians shore up support ahead of a legislative election next year. President Michel Aoun held off ratifying the two laws since parliament approved them last month, amid objections from businesses about impact of more taxes ...

Bloomberg Prime Minister Malcolm Turnbull’s government could collapse if a court rules that three of his lawmakers with dual citizenship are ineligible to hold office. Even if they stay, his handling of the constitutional crisis gripping Australia’s parliament may have already sealed its fate. The High Court will begin hearings on Thursday to interpret a 117-year-old law that bars dual ...

Bloomberg With little fanfare, Airbus SE is about to mark an unusual milestone in aviation: simultaneous production of the same aircraft on three continents. The company will hand over the first A320 to roll out of its Mobile, Alabama, assembly plant on Aug. 25, meaning North America will join Europe and Asia in producing the most popular airliner in the ...

Bloomberg Tesco Plc’s sales growth outpaced its main UK rivals in the last month as the country’s biggest grocer continued its revival in the face of a squeeze on disposable incomes. Separate reports from researchers Kantar Worldpanel and Nielsen both pointed to a strong month for the market leader, pushing its shares up the most in more than a month. ...

Bloomberg Shoprite Holdings Ltd. full-year earnings rose 12 percent, in line with analyst estimates, as Africa’s largest food retailer boosted market share in its home market of South Africa and continued to expand elsewhere in the continent. Headline earnings per share, which exclude one-time items, were 10.07 rand a share in the 12 months through June, the Cape Town-based company ...

Reuters Turkish discount retailer Sok is planning an initial public offering in 2018, two sources familiar with the matter told Reuters, the latest sign that Turkey’s IPO market may be coming back to life. Sok, with more than 4,700 stores and 21,000 employees, is one of Turkey’s biggest discount retailers, selling groceries, fresh produce and household items. It is 39 ...

Bloomberg TUI AG wants to safeguard the jobs of 700 of its employees staff who work planes leased to ailing Air Berlin Plc and isn’t interested in rescuing the insolvent carrier. Europe’s biggest holiday company, which disclosed last week that it would engage in talks following the insolvency filing, doesn’t plan to pick up assets and is neutral on what ...

Bloomberg Saudi Arabia’s non-oil revenue could surge by about 80 billion riyals ($21.3 billion) next year, according to Bank of America Merrill Lynch, boosting the kingdom’s efforts to reduce the economy’s reliance on crude. The increase would be driven by the implementation of value-added taxation, a tax on luxury products and higher fees imposed on expatriates’ dependents, London-based economist Jean-Michel ...