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

  Dubai / WAM Emirates Central Cooling Systems Corporation (Empower) on Tuesday announced that the number of its customers has increased to reach 65,000 by the end of 2016. Empower underscored that the number of its clients continues to rise in 2017. According to Empower, the main reason behind this increase is the customers’ growing trust in the district cooling service, ...

  Bloomberg India is likely to give Bangladesh a credit line of at least $3.5 billion for infrastructure projects during Prime Minister Sheikh Hasina’s state visit in April, as Beijing and New Delhi jostle for geopolitical influence in South Asia. The credit line, which would be India’s third to its neighbour, would go toward a variety of projects ranging from ...

  Bloomberg India’s wheat imports are likely to remain near the highest in a decade as the world’s second-biggest producer seeks to replenish stockpiles slashed by El Nino-induced drought, according to one of the nation’s largest buyers. Imports may reach 3 million metric tons in 2017-18, S. Sivakumar, the chief executive officer of ITC Ltd.’s agriculture business division, said in ...

  Bloomberg US stocks rose for just the second time in nine sessions, as financial shares rebounded from a six-week low after a spike in consumer confidence rekindled optimism in the strength of the American economy. Treasuries slipped and the dollar edged higher. Banks slammed by concern Donald Trump would have trouble getting regulatory roll-backs through Congress rallied on Tuesday ...

  Reuters Most Gulf stock markets edged up on Tuesday although trading volumes were generally low, while Emaar Malls jumped in Dubai after the company appeared to lose a contest with Amazon.com to acquire Middle Eastern online retailer Souq.com. Emaar Malls added 3.6 percent, outperforming Dubai’s stock index, which dropped 0.2 percent. The company’s shares had dropped 2.8 percent in ...

  AP Asian stock markets rose Tuesday after Wall Street sank on worries the Trump administration might not do as much for businesses as once thought. Tokyo’s Nikkei 225 gained 1 percent to 19,175.48 and Hong Kong’s Hang Seng advanced 0.5 percent to 24,308.32. The Shanghai Composite Index declined 0.4 percent to 3,252.81 while Sydney’s S&P-ASX 200 added 0.2 percent ...

  LONDON / AP It’s a resonant moment of European cultural harmony: a Swedish soprano and a pan-European orchestra rehearsing a Bach cantata in a medieval English church. With Britain about to leave the European Union, it’s also a poignant one. The ensemble rehearsing in a York church is the European Union Baroque Orchestra, founded 32 years ago to use classical ...

  Bloomberg Qatar’s sovereign wealth fund plans to expand in the UK and the US, as top officials said long-term commercial opportunities would outweigh political uncertainty roiling the two countries. The gas-rich Gulf emirate will add 5 billion pounds ($6.3 billion) to its UK portfolio in the next three to five years, and will set up an office soon in ...

  Reuters Light crude surged in Canada and the northern US after an oil-sands upgrader shut for maintenance because of a fire and Energy Transfer Partners LP said it was preparing to place the Dakota Access pipeline into service. Synthetic crude’s premium to West Texas Intermediate futures jumped $1.45 to $4.70 a barrel Monday, the strongest in more than a ...

  Bloomberg Oil advanced as OPEC member Libya halted the pipeline from its biggest field, tempering concerns that a surplus in the US continues to expand. West Texas Intermediate futures rose as much as 1.1 percent. Libya’s output has dropped to 560,000 barrels a day following the shutdown of the pipe from the Sharara field, according to a person with ...