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

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 ...

Bloomberg UK banks are better placed to withstand a slowing economy as the country exits the European Union, Moody’s Investors Service said. Moody’s raised the outlook on the nation’s banks to stable from negative, according to a report Wednesday. Strong capital positions, loan quality and funding should underpin profitability even as the economy slows, while additional costs associated with preparing ...

Bloomberg The European Union’s top bank regulator is feeling the love. Eight cities in the bloc are competing to host the European Banking Authority when it decamps from London as part of Brexit. Their come-hither pitches offer a variety of perks for the EBA’s 189 employees, from access to military spas in Prague to paintball in Warsaw. The proposals also ...

Bloomberg President Donald Trump’s administration may be poised to strike a peculiar deal for the next Air Force One planes: buying jumbo jets abandoned by a defunct Russian airline. The U.S. Air Force is in talks to purchase two 747-8 jetliners from Boeing Co. that were originally bound for Transaero Airlines, once Russia’s second-largest airline, said a person briefed on ...