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

Bloomberg About two-thirds of Kenyans say they’re worse off economically, expressing concerns that should “worry” President Uhuru Kenyatta as he seeks re-election in a vote in three weeks, pollsters Ipsos and US-based John Zogby said. Almost half of the population cite the cost of living and hunger as the most serious problems they grapple with daily, followed by unemployment, Nairobi-based ...

Bloomberg Germany’s Foreign Ministry summoned the Turkish ambassador to demand the immediate release of a German human-rights activist, with Chancellor Angela Merkel’s spokesman calling the detention a “serious and sad” turn for German-Turkish relations. Foreign Minister Sigmar Gabriel returned from a vacation to Berlin to respond to the “dramatic escalation” in the actions of Turkish President Recep Tayyip Erdogan’s government, ...

Bloomberg Oil bulls grappling with OPEC’s weakened resolve to curb output are also having to worry about waning demand in the world’s biggest buyer of overseas crude. State-run China Petroleum & Chemical Corp., the globe’s largest oil refiner, will process about 1 million metric tons a month less than previously planned over June to August, according to people with knowledge ...

Bloomberg Oil was steady amid mixed signals on US crude invento-ries, with industry data showing supplies increased last week while government statistics were expected to indicate a decline. Futures were little changed in New York after adding 0.8 percent. US inventories rose by 1.63 million barrels last week, according to people familiar with the API data. That contrasts with a ...

Bloomberg Libya’s rebounding oil output is undermining the supply curbs masterminded by Saudi Arabia and Russia. But any pleas for the OPEC member to exercise restraint will probably be resisted by the technocrat overseeing the North African nation’s turnaround. Production has climbed to a four-year high of 1.1 million barrels a day, with Libya adding output since April that’s equivalent ...

Bloomberg As Energy Secretary Rick Perry considers whether the US should do more keep coal and nuclear power plants online, natural gas producers are trying to ensure they aren’t left in the dark. Lobbyists for the natural gas industry are telling the administration their fuel is just as reliable as coal or nuclear, and that gas-fueled plants have the added ...

Bloomberg NRG Energy Inc. says buyers are hungry for the company’s renewable-energy business as the power generator looks to cut debt and sell assets under pressure from billionaire investor Paul Singer. Almost a week after the largest US independent power producer disclosed that it’s looking to slim down, the company is seeing “robust engagement from a variety of potential co-sponsors ...

Bloomberg Green bonds issued by Indian companies are gathering pace as the country’s ambitious target for renewable energy fuels interest from investors. Renewable energy developer Greenko Energy Holdings raised $1 billion earlier this week, making it the largest corporate green bond issuer in Asia, Bloomberg data shows. It beat MTR Corp.’s $600 million issue in November. Green bonds from India ...

Bloomberg A meeting of 16 nations in India on a mega Asia trade pact is happening in the shadow of elevated border tensions between India and China, a wrinkle that could further slow progress on the deal. Trade officials gathered in the southern city of Hyderabad are seeking to hammer out agreement on sticky issues like the free movement of ...

Bloomberg Turns out China Evergrande Group, the indebted developer which earlier this year fought off short sellers, had a hidden ally. Chinese Estates Holdings Ltd., the company controlled by Hong Kong billionaire Joseph Lau and his family, bought HK$8.1 billion ($1 billion) worth of Evergrande shares since April, Lau’s firm revealed on Wednesday as it announced its interest had passed ...