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

Bloomberg June US sales show automakers are still selling lots of expensive trucks and sport utility vehicles, a bright spot that’s rescuing profitability in a market forecast to decline from last year’s record sales. Deliveries of Toyota Motor Corp.’s RAV4 spiked 25 percent, while Honda Motor Co.’s HR-V saw a 35 percent gain, according to Autodata Corp. Toyota, Honda and ...

Reuters­­­­ / Bloomberg United Arab Emirates foreign minister His Highness Sheikh Abdullah bin Zayed Al Nahyan said on Tuesday that Arab countries boycotting Qatar over its support for terrorism were still awaiting a response to their demands via mediator Kuwait. Saudi Arabia, the UAE, Bahrain and Egypt are pressing Qatar to shut its Al Jazeera news TV station and scale ...

Bloomberg Chinese President Xi Jinping called for closer cooperation with Germany in shaping the global order, marking out Chancellor Angela Merkel as an ally on free trade at this week’s Group of 20 summit. “The strategic character of Chinese-German relations is steadily gaining in importance,” Xi said in an op-ed article published on Tuesday in German newspaper Die Welt, citing ...

NEW YORK ­­­­ / WAM Movements by sea from Libya to Europe, despite being the most dangerous route for reaching the continent, have increased and there are indications that it will likely continue to do so, a new study by the United Nations refugee agency has revealed. According to ‘Mixed Migration Trends in Libya: Changing Dynamics and Protection Challenges’, a ...

Bloomberg North Korea said on Tuesday it successfully test-fired an intercontinental ballistic missile, a claim that brings the isolated state closer to its aim of building a device capable of hitting the continental U.S. with a nuclear warhead. The missile was a newly-developed ICBM that reached an altitude of 2,800 kilometers (1,740 miles) and was fired at its highest angle, ...

Bloomberg If Serbia is forced to choose between closer ties with Russia and joining the European Union, it will side with the latter, the country’s new prime minister said. Ana Brnabic said she’d continue a path started by her predecessor, President Aleksandar Vucic, to make the country ready for EU membership by the time her term ends in 2020. Eastern ...

This is the summer of our discontent. As Americans celebrate July 4, they are mad at their leaders, mad at their government and mad at each other. A recent Pew poll finds that ‘public trust in government remains near historic lows.’ Just 20 percent of Americans trust the government to ‘do the right thing just about always or most of ...

Wall Street banks, struggling with years of declining revenue from Asia, will be hoping two market-opening measures by China at the weekend finally spell a return to boom times. They’re likely to be disappointed. HSBC Holdings Plc’s achievement in becoming the first foreign bank to control a mainland securities joint venture, coupled with the launch of China’s bond-connect program with ...

Japanese investors had a torrid time in the lead up to the French elections, offloading about 3 trillion yen ($26.5 billion) of French government bonds. But with net buying of the overseas notes in seven of the past eight weeks, according to Japan Ministry of Finance data, could they be returning? The recent jump in 10-year European bond yields provides ...

President Donald Trump has always had a weakness for simple and fantastical fixes. Illegal immigration? Build a wall. Jobs moving overseas? Tax imports. Unemployment in Appalachia? Dig more coal. Rising medical costs? Repeal Obamacare. Trump’s gift for simple slogans served him well as a candidate. As president, however, it is failing him and endangering the country. When the Supreme Court ...