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

Bloomberg In the diamond industry, the only place that really matters is the US, and the market is starting to look a little shaky. In a country where consumers buy almost half the world’s gems, Tiffany & Co. and Signet Jewelers Ltd. this week reported disappointing sales. That’s a blow to expectations that President Donald Trump’s pro-business policies would give ...

Bloomberg Two shareholder advisory firms have recommended support for current General Motors Co. board members and against creating a dual share class, proposals advanced by activist investor David Einhorn to boost the automaker’s stock. “The dissident has not made a compelling case that change at the board level focusing on the implementation of its proposal is warranted,” Institutional Shareholder Services ...

Bloomberg The Swedish and New Zealand housing markets are the most at risk of a correction among the so-called G-10 economies, according to Goldman Sachs. In a report on house prices in G-10 nations — those with the 10 most-traded currencies in the world — Goldman finds they are most elevated in small, open economies such as Sweden and New ...

Bloomberg Donald Trump continued to distance himself from fellow world leaders over climate change at the G-7 summit, and said he’ll determine next week whether to pull the US out of the landmark Paris climate accord. “I will make my final decision on the Paris Accord next week,” the president told his almost 31 million Twitter followers on Saturday. While ...

Bloomberg Jacob Zuma is fighting to remain South Africa’s president as the top leadership of the ruling African National Congress resumed its debate of a proposal to recommend his removal from office. The debate started on Saturday in the capital, Pretoria, according to five members of the party’s national executive committee who asked not to be identified because they aren’t ...

Bloomberg Prime Minister Theresa May said her government would set up a commission to combat non-violent extremism and promote “pluralistic” British values and women’s rights, as the fight against terrorism becomes a focus of the election campaign. The proposed Commission for Countering Extremism, introduced in the Conservative manifesto earlier this month, would have legal status and advise the government on ...

Many analysts have argued that the next FBI director shouldn’t be a politician. But try telling that to Rep. C.A. Dutch Ruppersberger (D-Md.), who has been pressing Senate Democratic leaders to consider former GOP congressman Mike Rogers (Mich.) for the post. Ruppersberger told me that in conversations with Democratic leadership, he had endorsed Rogers’s ‘integrity, competence and patriotism.’ Rogers, a ...

A spat is developing at the European Central Bank about how — and how soon — the institution should signal its intention to scale back its monetary stimulus program. Data buried in the central bank’s most recent survey of companies suggests a rebound in inflation may inflame the debate sooner rather than later. Peter Praet, the bank’s chief economist, said ...

President Donald Trump’s first budget is truly remarkable in its unseriousness. To see why, try for a moment to take it seriously. The plan purports to be fiscally responsible, saying that the national debt will fall from 77 percent now to 60 percent in 2027. A worthy goal, to be sure. At the same time, it calls for tax cuts ...

Talk to critics of the European Central Bank’s ultra-loose monetary policy and a common theme emerges: concern about financial stability. Quantitative easing is seen as creating dangerous asset bubbles. Negative interest rates are said to hurt bank profitability, making the financial system more vulnerable to shocks. These concerns are widely misplaced. In fact, the real worry should be the risks ...