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

Bloomberg China is the new leader of shipping trade to the Americas. State-owned Cosco Shipping Holdings Co.’s $6.3 billion offer to buy Orient Overseas International Ltd. would create an entity that’s the biggest shipping company moving boxes to the North American continent from Asia, beating Copenhagen-based A.P. Moller-Maersk A/S and France’s CMA CGM SA. The takeover, announced in Hong Kong, ...

Bloomberg Sunac China Holdings Ltd. agreed to buy hotels, land and projects from Dalian Wanda Group Co. for 63.2 billion yuan ($9.3 billion) in China’s largest property deal, as billionaire Chairman Sun Hongbin moves to take advantage of competitors shedding assets. Sunac will buy 76 hotels from Wanda through a unit and will purchase a 91 percent stake of 13 ...

Bloomberg China’s producer price gains held up, signaling that demand in the world’s second-largest economy is maintaining pace for now, even in the face of regulatory curbs. The producer price index rose 5.5 percent in June from a year earlier, in line with the estimate in a Bloomberg survey as well as the reading in May. The consumer price index ...

Bloomberg Indian shares rose, and the benchmark index rallied its second record high in three sessions, after a regulator tightened rules for offshore derivatives and banned so-called “naked” bets. The National Stock Exchange, the country’s largest bourse, suffered its longest technical outage, handing over the volumes to rival BSE Ltd. The benchmark S&P BSE Sensex climbed 1.1 percent to close ...

Bloomberg Japan’s investors returned to developed bond markets in May, mopping up Treasuries, German bunds and French debt one month before a global selloff sparked by hawkish comments from major central banks. Investors bought a net 1.32 trillion yen ($11.6 billion) of US sovereign debt in May, the most in nine months, according to Japan’s balance-of-payment data released on Monday. ...

Bloomberg For more than a year, Oi SA has struggled to reach a deal with various factions jockeying for a leg up in its $19 billion bankruptcy case. Almost entirely absent from that process? The company’s single biggest creditor. Brazil’s government claims that Oi owes telecom regulator Anatel as much as 20 billion reais ($6.1 billion), but current law forbids ...

Bloomberg The world’s biggest industrial metals exchange is taking on the most powerful players in the gold market with the launch on Monday of its first futures contract for the commodity since the middle of the 1980s. The London Metal Exchange and its partners aim to grab a piece of the action in a city where almost half the world’s ...

Bloomberg Computer simulations may get a role alongside human testing as part of an effort to bring new medications and medical devices to market more quickly and cheaply. The US Food and Drug Administration outlined a proposal to help integrate computer modeling and virtual testing as part of the regulatory approval process for manufacturers — a step the agency said ...

Bloomberg UK companies are overwhelmingly opposed to Britain walking away from talks to leave the European Union without a deal, a survey by the British Chambers of Commerce shows. More than a third of businesses want the UK to stay in the EU single market and customs union, according to the poll of 2,400 firms published on Monday. Almost 30 ...

Bloomberg Carillion Plc plunged the most on record after the British construction company said first-half profit will be lower than expected, dividend payments will be suspended and the chief executive officer has stepped down. Cash flow from some projects has deteriorated, and the board will review all of the company’s major contracts with the help of KPMG, Carillion said in ...