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

  Bloomberg At a garbage dump about 80 miles west of London, Adrian Griffiths is testing an invention he’s confident will save the world’s oceans from choking in plastic waste. And earn him millions. His machine, about the size of a tennis court, churns all sorts of petroleum-based products — cling wrap, polyester clothing, carpets, electronics — back into oil. ...

  Bloomberg Telia AB sold about $500 million worth of stock in Turkcell Iletisim Hizmetleri AS, making progress on a vow to focus on its home region as it reduces its holding in an investment tied up in a decade-long ownership feud. Stockholm-based Telia agreed to sell 155 million shares in Turkcell to institutional investors in an accelerated offering, the ...

  Bloomberg Competitors to BlackRock Inc. are trying to loosen the investing giant’s stranglehold on Europe’s $153 billion bond exchange-traded fund market. They’re struggling to make much headway. The company’s market share has increased in recent years to 67 percent, data from Morningstar Inc. show, even as competitors add new funds and offer low fees. Rivals are being stymied because ...

  Bloomberg It’s a Canadian stock market, but the TSX Venture Exchange wants Americans to help fuel its growth. Traditionally known as a place where Canadians can buy shares of local junior miners, the exchange is branching out to other industries including technology. That’s an obvious fit for the head of the business, Brady Fletcher, who ran a tech startup ...

    The global economy is picking up steam, but that’s deceptive. The foundations of expansion are soft, marked by weak productivity growth and inequality. The two are related. The productivity problem confronting the world’s advanced economies predates the financial crisis more than a decade ago. When we look beyond the headline statistics, patterns emerge. Advanced economies have become less ...

  Warren Buffett’s war chest is ready for his next deal — maybe even his biggest one yet. The company’s cash swelled to $86.4 billion at the end of 2016, and at this rate it means even takeovers in the $100 billion ballpark are conceivable, as my colleague Noah Buhayar wrote for Bloomberg News this week. He flagged Costco Wholesale ...

  Malls are fighting for shoppers with one thing their web rivals can’t offer: parking lots. With customer traffic sagging, US retail landlords are using their sprawling concrete lots to host events such as carnivals, concerts and food-truck festivals. They’re aiming to lure visitors with experiences that can’t be replicated online — and then get them inside the properties to ...

  DUBAI / Reuters Shares of Dubai builder Drake & Scull (DSI) slumped to a 14-month low in heavy trade on Sunday as investors reacted to the company’s revised capital restructuring plan, while last week’s fall in oil prices knocked down oil-sensitive shares. Dubai’s stock index fell 1.0 percent as DSI plummeted 9.9 percent to 0.399 dirham after a shareholder ...

  Bloomberg Pearson Plc Chief Executive Officer John Fallon suffered the largest shareholder rebellion so far this year in the UK, with about 61 percent of votes cast against the education company’s pay report at the annual general meeting. The vote on the report, which covers pay for 2016 and includes share awards, isn’t binding and doesn’t require the company ...

  Bloomberg Societe Generale SA agreed to pay 963 million euros ($1.05 billion) to settle a legal dispute with the Libyan Investment Authority (LIA) over alleged bribery, averting a trial and prompting a surprise drop in profit. The French bank and LIA reached a deal to resolve “all matters between both parties” related to five transactions between 2007 and 2009, ...