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

Donald Trump may not like it, but he can’t—so far— reverse two of Barack Obama’s signature accomplishments: the Affordable Care Act (ACA) and the Iran nuclear deal. In one emblematic, frustrating day, Trump both saw the failure of the Senate Bill to repeal and replace the ACA and was forced by his advisers to certify that Iran is in compliance ...

As local-currency bonds in Indonesia joined the recent global debt selloff, Aberdeen Asset Management Plc and Western Asset Management Co. had a simple strategy: buy more. The money managers see the nation’s securities, along with India’s, as the best bets to weather any selloff in emerging Asia as the European Central Bank prepares to join the Federal Reserve in paring ...

On the 48th anniversary of Neil Armstrong setting foot on the moon, an Illinois attorney hopes to pocket as much as $4 million at a Sotheby’s auction of a bag that Apollo 11 astronauts filled with rocks. The bag’s history is as interesting as its travels: the US government accidentally sold it in 2015, then fought the buyer, Nancy Lee ...

Bloomberg The euro headed for its first decline in three days as data showed the region’s economy cooling at the start of a week packed with corporate results and a Federal Reserve rate decision. Stocks were dragged down for a second day by carmakers amid a collusion probe. The common currency halted the advance that saw it hit a two-year ...

Reuters Banks pushed Qatar’s stock market higher on Monday while Saudi Arabia’s market edged down as telecommunications firm Mobily plunged in the wake of a bigger-than-expected quarterly loss. The Qatari index added 0.8 percent to 9,579 points, outperforming the rest of the region and closing at its highest level since June 5, when a diplomatic crisis with neighbouring Arab states ...

ABU DHABI / WAM The total foreign currency supply at the UAE Central Bank surged to AED338.34 billion by the end of June, a growth of AED47.6 billion from early 2017, according to statistics recently issued by the bank. A month-on-month review indicated that the total supply increased by AED15.93 billion in June from AED322.41 billion in May. The bank ...

ABU DHABI / WAM A total of AED4 billion worth of grants and concessionary loans has been provided by Abu Dhabi Fund for Development (ADFD), to Egypt spanning across 64 development projects. ADFD and the Government of Egypt have long enjoyed close and strategic ties. The constructive cooperation between the two parties continues to promote sustainable development in vital economic sectors ...

ABU DHABI / Agencies Abu Dhabi Islamic Bank (ADIB) on Sunday posted an 8.7 percent rise in second quarter profit, above analysts’ expectations. Higher fee income boosted second-quarter revenues by 3.9 percent, the bank said in a statement. The emirate’s largest sharia-compliant bank made a net profit of AED551.6 million ($150.3 million) in the three months ending June 30, compared ...

Abu Dhabi / Emirates Business Abu Dhabi-based Baron Point Petroleum Services Company L.L.C. (“Baron Point Petroleum”) has joined hands and engaged a joint-venture (“JV”) with PetroVietnam Oil Corporation (“PV Oil”), the national oil and gas company of Vietnam, to finance, build and operate petroleum product pipelines and storage space in Vietnam, and to source and trade petroleum products in the ...

SHARJAH / WAM Residents and tourists in the UAE are set to enjoy the ultimate desert experience with an AED15 million extension to Al Badayer Oasis project. A premium leisure development form Sharjah Investment and Development Authority, Shurooq, Al Badayer Oasis has announced expansion to its under-construction facility, with the resort expected to pull in hordes of city-dwellers keen to ...