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

Bloomberg The White House is reviewing whether to invoke executive privilege to prevent former FBI Director James Comey from testifying before a congressional panel next week. Comey is scheduled to testify on Thursday before the Senate Intelligence Committee about his May 9 firing by President Donald Trump. The panel is investigating Russian meddling in the 2016 presidential election and whether ...

Bloomberg The final television event of Britain’s general election campaign saw both Prime Minister Theresa May and her main challenger, Labour leader Jeremy Corbyn, take a pummeling from angry voters. May has refused to directly debate Corbyn, and so the BBC’s “Question Time” featured the two leaders consecutively, with the prime minister going first. There was no gentle warming up, ...

Bloomberg European Union and Italian officials agreed on a plan to restructure Banca Monte dei Paschi di Siena SpA, allowing Italy to inject capital to rescue the world’s oldest bank. Competition Commissioner Margrethe Vestager and Italian Finance Minister Pier Carlo Padoan reached “an agreement in principle” on a deal that paves the way for a precautionary recapitalization of the lender, ...

Bloomberg Deutsche Bank AG is stepping up hiring for its Asian wealth-management business as part of a “multi-year” expansion to bolster a unit that has lost key executives and assets in recent years. Deutsche Bank Wealth Management plans to add 50 client-facing positions including relationship managers during the second half of the year after hiring 13 employees last month, Lok ...

Bloomberg Royal Bank of Scotland Group (RBS) Plc’s settlement with investors suing the bank, which seemed a certainty earlier in the week, has faltered as a handful of investors continue to hold out. Some of the shareholders who indicated they would end a lawsuit over the lender’s 2008 rights offering, now want a higher settlement offer, and the case could ...

Bloomberg China will pursue ‘neither loose nor tight’ monetary policy to ensure basically stable liquidity, People’s Bank of China (PBOC) Deputy Governor Chen Yulu said. The central bank will continue to implement “prudent and neutral” monetary policy, and create a “neutral and moderate” financial environment for supply-side reform, Chen told the Tsinghua PBCSF Global Finance Forum in Beijing Saturday. Intensified ...

Bloomberg Italy may have no time to rest on its laurels after brokering a deal to keep Banca Monte dei Paschi di Siena SpA in business. While an “in principle” agreement between Finance Minister Pier Carlo Padoan and European Union Competition Commissioner Margrethe Vestager will help save the world’s oldest bank through paving the way for a precautionary recapitalization, the ...

Bloomberg Brazil is taking steps to promote new renewable-energy projects as the government seeks to reassure the industry that political turmoil won’t threaten current power policies. The country will organize at least one power auction for clean-energy projects this year, according to Eduardo Azevedo, secretary of energy planning and development at the Ministry of Mines and Energy. A second auction ...

Bloomberg Vestas Wind Systems A/S, the world’s biggest maker of wind turbines, dropped to its lowest in more than 1 1/2 months after US President Donald Trump’s decision to exit the Paris climate accord threw into doubt the future of renewable energy. Vestas fell as much as 3 percent, and traded 2.3 percent lower at 571.50 kroner as of 12:53 ...

Bloomberg Oil tankers shipped the most crude from Iraq in six months in May, when OPEC’s second-biggest producer was negotiating with the group’s other members to persist with supply constraints to shore up the global market. Tankers loaded 122 million barrels of Iraqi crude at ports in the Persian Gulf and Mediterranean Sea last month, according to vessel-tracking and shipping ...