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

The Bank of England to decide whether to raise interest rates. The choice isn’t clear-cut, and the central bank’s policy makers appear to be divided—but with the economy showing signs of slowing and inflation under control, they’d be wise to wait a while longer before tightening. The Bank of England responded to the Brexit referendum by cutting its benchmark rate ...

Looking to buy two half-finished nuclear reactors? It may be your lucky day. US utility owner Scana Corp. dropped a plan to build two reactors at the V.C. Summer power plant in South Carolina after the projected total costs exceeded $20 billion. The cancelation of the project is another blow to the much-hyped (and thus far non-existent) nuclear renaissance in ...

Over the last few years, producers belonging to the Organization of Petroleum Exporting Countries have had mixed success at winning the price-setting “game” for oil. To stand a better chance of regaining durable control, they must do a much better job of working together, and, importantly, they need to do so in a much broader and more institutionalized manner. Otherwise, ...

It’s been a tough few months in Detroit. After seven years of gangbuster sales, the US auto market is skidding badly. The American car and truck segment is remarkably easy to get a handle on, but a look at some of its indicators may induce some head-scratching. For the past 20 years, the number of licensed drivers has ticked up ...

For more than a year, Apple investors have been looking ahead to what comes next. They’re still waiting, and the longer they wait the longer it takes to come to grips with Apple’s new, less-turbocharged reality. The company’s revenue rose a relatively pedestrian 7.2 percent in its third fiscal quarter compared with the awful quarter a year earlier, and Apple’s ...

Bloomberg The Dow Jones Industrial Average rose past 22,000 for the first time as Apple Inc. pushed to a record, while renewed strength in the euro dragged down European equities. Oil fluctuated after retreating from its brief rise above $50 a barrel. The Nasdaq 100 Index jumped as Apple’s market cap rose above $800 billion after its sales forecast revived ...

DUBAI / Reuters Stock markets in the Gulf were mixed on Wednesday, with Saudi Arabia dragged down by a drop in crude oil prices while blue chips led gains the United Arab Emirates and Qatar higher. Brent crude futures lost 1.7 percent on Tuesday and traded below $52 a barrel for most of Wednesday. Consequently, 11 of the 14 petrochemical ...

Bloomberg India cut interest rates to the lowest since 2010 to boost an economy struggling to recover from Prime Minister Narendra Modi’s cash clampdown. The benchmark repurchase rate was lowered to 6 percent from 6.25 percent, the Reserve Bank of India said in a statement in Mumbai on Wednesday. The move was predicted by 41 of 57 economists in a ...

Bloomberg Deutsche Bank AG envisions shifting almost half its UK positions to the European continent over coming years as the lender’s Brexit plans take shape, people briefed on the matter said. Most of the 4,000 positions will move to Frankfurt and Berlin under the bank’s base case scenario, the people said, asking not to be identified discussing internal planning. Deutsche ...

Bloomberg Japan’s negative interest rates are turning into a positive in BNP Paribas SA’s eyes, as it joins other European banks in strengthening its markets business in the nation. France’s biggest bank has hired about 30 people in Tokyo since January in areas such as sales of structured products, and it plans to recruit more this year, people with knowledge ...