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

To Indian eyes, Chinese President Xi Jinping’s big One Belt One Road Belt (OROB) Forum — which attracted 29 heads of government and representatives of 130 countries — looked awfully familiar. It looked, in fact, like an imperial durbar — the sort of grand spectacle that the British in India used to arrange periodically, with princelings from across the subcontinent ...

Economists still get a lot of flak for failing to predict the 2007-2009 recession. These criticisms are often misguided. Nonetheless, there’s an important sense in which forecasting models were badly mistaken — and probably remain so today. Critics of forecasting tend to misunderstand its purpose. Forecasters know perfectly well that, in a random world, the one certainty is that their ...

A blind spider creeping through America’s judicial thicket might be heading to the Supreme Court, which will have to decide if the contentment or even the survival of the Bone Cave Harvestman spider species, which lives only in two central Texas counties, is any of the federal government’s business. If it is, what isn’t? The US Fish and Wildlife Service ...

Reuters Egypt’s stock market tumbled in heavy trade on Monday after the central bank unexpectedly raised key interest rates overnight, while Qatar outperformed in an otherwise quiet Gulf. Cairo’s blue-chip index dropped 2.5 percent after the central bank hiked its overnight deposit rate and overnight lending rate by two percentage points — its first increase since a hike of three ...

Bloomberg US stocks advanced for a third day as crude pushed above $50 a barrel before OPEC meets this week. The euro advanced after Angela Merkel said the “too weak” currency shared the blame for Germany’s trade surplus. The S&P 500 Index’s three-day climb topped 1 percent following its biggest selloff of the year as investors focused on corporate deals. ...

Bloomberg China and Russia teamed up to develop twin-aisle jets that will compete with Airbus SE and Boeing Co., the planemakers who dominate passenger aircraft capable of trans-continental flights. State-owned Commercial Aircraft Corp. of China Ltd. and Russia’s United Aircraft Corp. aim to hand over the plane to customers by 2025-2027, UAC Chairman Yury Slyusar said at a briefing in ...

Bloomberg Peach Aviation Ltd. will become the first Japanese carrier to accept bitcoin as payment for airline tickets as the discount airline aims to attract more tourists from other parts of Asia. The cryptocurrency can be used to book seats starting by the end of the year, Peach said in a statement in Tokyo, adding a change in Japan’s law ...

Bloomberg Boeing Co.’s pursuit of a trade complaint against Canadian rival Bombardier Inc. at a time it’s negotiating with the government on a major sale of military aircraft is “lousy customer relations,” Canada’s ambassador to the US said. Boeing alerted Canada shortly before the company petitioned the US to probe whether Bombardier’s C Series aircraft is being sold at unfairly ...

CAIRO/ Reuters Egypt’s central bank raised its key interest rates by 200 basis points, citing stronger economic growth and falling unemployment, confounding the expectations of economists who forecast rates were unlikely to change. At a meeting of its Monetary Policy Committee, the bank hiked its overnight deposit rate to 16.75 percent from 14.75 percent and its overnight lending rate to ...

Bloomberg Royal Bank of Scotland Group Plc’s (RBS) trial over its 2008 rights issue will be postponed for at least a day as investors suing the bank weigh an improved settlement offer. The bank doubled its offer as Chief Executive Officer Ross McEwan staged a last-minute personal intervention, according to a person with knowledge of the matter, who asked not ...