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

Dubai / WAM RTA’s Dubai Taxi Corporation (DTC) launched the ‘Smart Tow’ system offering roadside assistance for taxi breakdown via smartphone application. The DTC has recently signed a contract with the Arabian Automobile Association (AAA), a leading provider of roadside solutions, to operate and upgrade the service. The system is designed to ease the delivery of roadside assistance to the ...

Bloomberg Qatar delivered its official response to the 13 demands made by the Saudi-led coalition that cut diplomatic and transport links with the country, Al Arabiya news channel reported, as President Donald Trump and Kuwait’s emir stepped up efforts to resolve the month-long crisis. Al Arabiya gave no details of the reply. The coalition, which also includes the UAE, Bahrain ...

BAGHDAD / Reuters A suicide bomber dressed as a veiled woman killed 14 people and wounded 13 others in a displacement camp west of the Iraqi capital Baghdad, security sources said in a statement. IS extremists, who have been facing mounting US-backed offensives in Iraq and neighbouring Syria, claimed responsibility for the assault. The camp known as ‘kilo 60’ houses ...

ADDIS ABABA / WAM Palestinian President Mahmoud Abbas said on Monday that he is ready for a historical peace deal with Israel based on a two-state solution, the WAFA News Agency has reported. “We are waiting for Israel to respond to the initiative of the US President Donald Trump for a historical peace deal based on a two-state solution,” said ...

Bloomberg President Xi Jinping’s complaint about a ‘negative’ turn in China’s relationship with the U.S. showed the challenge facing Donald Trump when the two leaders meet in Germany this week. Xi’s comment during a phone call with Trump on Monday followed several assertive U.S. moves in Asia, including a naval patrol past a Chinese-controlled islet a day earlier. The American ...

Bloomberg The interior ministers of France and Germany agreed on new measures meant to help Italy as it struggles to cope with rising migrant arrivals, pledging to boost support for the Libyan coast guard and speed up their relocation under a European Union accord. At a dinner in Paris with interior ministers Gerard Collomb of France, Thomas De Maiziere of ...

Bloomberg Chancellor Angela Merkel urged Germany’s partners in the Group of 20 states to avoid deeper divisions in economic policy as these may become irreconcilable, and to seek inclusive “win-win” solutions that benefit all instead. Commenting in her weekly podcast, the German leader said the G-20 summit in Hamburg this week offers a good platform for states to air their ...

Bloomberg Oil traded near the highest closing price in almost three weeks after US drilling slowed after a record expansion. Futures were little changed in New York after rising 8.3 percent the previous seven sessions. US drillers targeting crude reduced the number of active rigs for the first time in 24 weeks, according to Baker Hughes Inc. data. Libya’s oil ...

Bloomberg Libya’s oil production has climbed to more than 1 million barrels a day for the first time in four years, further complicating OPEC’s struggle to regain control of the oil market. The North African country is pumping 1.005 million barrels a day, according to a person with direct knowledge of the situation, who asked not to be identified because ...

Bloomberg Oil short-sellers have been on a roll, but their bets on declining prices may have begun to hit a wall. Hedge-fund wagers on lower West Texas Intermediate crude reached the highest level since August in the week ended June 27, after more than doubling in two months, according to Commodity Futures Trading Commission data. The bearish bets increased at ...