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

UK Prime Minister Theresa May’s election gamble has failed disastrously. The consequences are dire for her party and government, and could be equally bad for her country’s relationship with Europe. May had hoped to increase her Conservative majority in Parliament, and instead has seen it wiped out. The Tories are the largest party in the House of Commons and with ...

As former FBI Director James Comey testifies before the Senate Intelligence Committee, it’s useful to bear two things in mind: What he’s describing isn’t normal. And it isn’t going away. In a written statement released before his appearance, Comey depicted a disturbing sequence of events related to the investigation into Russia’s meddling in the 2016 election. President Donald Trump repeatedly ...

‘Enough is enough,’ UK Prime Minister Theresa May declared after the London terror attack, the third one this year. But what she proposed to counter the terrorist attacks was, essentially, some freedom of speech restrictions, more powers for law enforcement and longer sentences for terror-related offenses — the same old toolbox that has been used for almost two decades. There ...

European regulators have pushed a dying Spanish bank into the arms of Banco Santander SA, the euro zone’s biggest lender by market value. The takeover of Banco Popular Espanol SA saves face for regulators and politicians eager to avoid an embarrassing taxpayer rescue. It allows Santander to boost its own balance sheet and scoop up a rival for a song. ...

The vote to have Britain exit the European Union highlighted deepening rifts across the country — between the old and the young, the rich and the poor, the North and the South. May’s proposals, which focus on lower taxes funded by cuts to education, health care and security, are likely to make Britain an even more divided kingdom. Once among ...

Bloomberg The Venezuelan debt that Goldman Sachs Group Inc. bought last month may be known as “hunger bonds” to many in the international community, but they’re earning a different moniker on Wall Street: repudiation bonds. In the days since that controversial transaction, numerous investors have been approached by brokers putting out initial feelers to gauge their interest in the notes, ...

Bloomberg Investors in Qatari stocks, bonds and currency forwards were saddled with losses last week as the country was thrust into the epicenter of an unprecedented spat with its neighbors. The country’s stock market had shrank by about $11 billion in value, the most since 2010, after Middle Eastern countries including Saudi Arabia and the United Arab Emirates cut ties ...

Bloomberg Deutsche Bank said it can’t comply with a request to hand over information related to its relationship with Donald Trump and trades from the bank’s Moscow operation as political opponents seek to probe the US President’s links with Russia. The lender is required by law to maintain confidentiality of non-public customer information, Deutsche Bank lawyers said in a letter ...

DUBAI / Reuters Shares in Qatari banks fell in early trade on Sunday after the central bank of the United Arab Emirates ordered UAE banks to be wary of any accounts they hold with six Doha-based banks. The UAE, as part of its response to the diplomatic rift in the region, told local banks to apply ‘enhanced due diligence’ to ...

Dubai / Emirates Business Pakistan’s largest bank Habib Bank Limited (HBL) announced its strategic retail analytics programme in collaboration with Qarar, UAE’s leading decision analytics consultancy. With this comprehensive programme in place, HBL will be one step ahead of the industry by utilizing advanced applications and behavioural scorecards developed for the Bank by Qarar. Both organizations have shared an enduring ...