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

Bloomberg Hitachi Ltd. is looking to buy consulting and system engineering companies overseas to help add as many 6,000 workers to boost sales of products ranging from trains to construction machinery. The Tokyo-based company has set aside as much as 800 billion yen ($7 billion) for acquisitions over the next two years, Chief Financial Officer Mitsuaki Nishiyama said in an ...

Bloomberg China’s official factory gauge concluded the first half of the year on a robust note, the latest evidence of stable momentum that gives policy makers room to continue defusing financial risks. The manufacturing purchasing managers index increased to 51.7 in June, beating all estimates compiled by a Bloomberg survey of economists, and the 51.2 reading in May. The non-manufacturing ...

Bloomberg China’s hidden debt risks are back in the spotlight this week. A chemical maker in the eastern province of Shandong had trading of its bonds suspended amid uncertainty over its operating performance. That triggered a slump in the dollar bonds of a neighboring company that had guaranteed the other’s debt. China’s privately held firms have relied on extending such ...

Bloomberg For India bull Robert Marshall-Lee, stock valuations near the highest level in almost a decade are no deterrence. The London-based money manager, who oversees 2.6 billion pounds ($3.4 billion) for Newton Investment Management, has stepped up allocations for Mumbai-listed equities to 31 percent, compared with their 9 percent weight in the MSCI Emerging Markets Index. He expects the rally ...

Bloomberg The pressure on consumers from the soaring cost of living was laid bare as Britain published its most complete picture of the economy in the first three months of the year. Britons saved a smaller proportion of their incomes than at any time on record and household incomes adjusted for inflation fell for a third straight quarter, the longest ...

Bloomberg A shift in how Europeans finance their cars is threatening to expose bondholders in the region to the same risk that’s been building in the US for decades. Buyers of notes backed by auto debt are increasingly vulnerable to drops in used-vehicle prices because more and more drivers in Europe are leasing cars and trading them in for new ...

Bloomberg Microsoft Corp. is planning a global sales reorganization to better focus on selling cloud software, according to people familiar with the matter. The restructuring is scheduled to be announced as soon as next week and will impact the Worldwide Commercial Business under Judson Althoff and Jean-Philippe Courtois’ global sales and marketing group, the people said. Job cuts are likely ...

Bloomberg Three days after Energy Secretary Rick Perry directed his staff to find ways to give a boost to coal and nuclear power, the rival wind industry kicked its lobbying response into action. The American Wind Energy Association would tap allies in Congress willing to weigh in with Perry and buy advertisements on “news channels closely followed by the Trump ...

Bloomberg President Donald Trump hasn’t decided yet whether to impose punitive measures on steel imports for reasons of national secur- ity, as the administration missed a self-imposed deadline to conclude its investigation. While the Commerce Department has until early next year to determine whether foreign-made steel threatens US security under Section 232 of the Trade Expansion Act, Secretary Wilbur Ross ...

Bloomberg President Xi Jinping warned a divided Hong Kong that challenges to China’s rule wouldn’t be tolerated and said the city’s leaders must find new ways to profit from Chinese economic clout. Xi’s stern speech on Saturday — at a ceremony in which he swore in Carrie Lam, 60, as Hong Kong’s first female chief executive — capped a three-day ...