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

  DUBAI / Reuters Oman’s central bank signed a memorandum of understanding with the Iranian central bank to strengthen financial and economic cooperation between the two countries, the Omani institution said. It did not give details of the cooperation, but said the agreement would boost bilateral trade and include training for Iranian central bankers. Worried by the threat of U.S. ...

  Bloomberg Central banks did their best to fight deflation. Now a Polish policy maker wants his government to step up as prices are making a comeback. As the National Bank of Poland comes under pressure to act in response to a rebound in price growth, Jerzy Osiatynski counters that it “has no monopoly on fighting inflation.” Higher wages raise ...

  Bloomberg Chinese ride-sharing giant Didi Chuxing is weighing whether to take a $6 billion investment backed by SoftBank Group Corp. that could dilute existing backers such as Apple Inc., people familiar with the matter say. If the deal goes through, the funding would be the single largest for a Chinese technology startup on record. But the Beijing-based company that ...

  Bloomberg Ericsson AB will book as much as 15 billion kronor ($1.7 billion) in extra costs in the first quarter as new Chief Executive Officer Borje Ekholm cuts back the wireless network maker after four straight quarters of declining revenue. Ekholm, who took over in January, is cutting costs and narrowing the company’s focus as he contends with contract ...

  Bloomberg Uber Technologies Inc. says Alphabet Inc.’s own ground rules require accusations that the ride-hailing giant stole trade secrets for driverless cars be resolved in private arbitration and not a public court. It’s a bold gambit by the world’s most valuable startup to shift the lines of battle for a showdown that may decide who controls key technology in ...

  Bloomberg The United Arab Emirates forecasts that savings generated by switching half its power needs to clean energy by mid century will outstrip the investment costs. The Gulf state plans to invest $150 billion in renewable power by 2050, weening the country from dependency on subsidized natural gas power in stages, Minister of Energy Suhail Al-Mazrouei said at a ...

  Bloomberg National Bank of Abu Dhabi PJSC is selling $587 million in a class of debt used to fund environmental projects, the first issue of green bonds from a region where governments are looking to curb dependence on oil as an energy source. The state-owned lender is offering the five-year securities at 98 basis points over the mid-swap rate, ...

  SANAA / AP Yemeni security officials say a suicide bomber likely from al-Qaida has attacked a government building in the southern Lahj province, killing five soldiers and wounding ten, including civilians. They say the Monday attack in the provincial capital, al-Houta, could have been worse, but that guards managed to shoot the attacker before he drove his explosives-laden vehicle ...

  Bloomberg The worst cyclone in six years is set to smash into the coast of Queensland on Tuesday morning, forcing thousands of Australians to evacuate or seek emergency shelter and prompting some of the world’s biggest miners to halt coal operations. Cyclone Debbie is forecast to intensify before it makes landfall north of the city of Mackay with winds ...

  GENEVA / AP Swiss and Turkish prosecutors announced separate investigations on Monday after protesters hoisted a banner in Switzerland’s capital showing a gun pointed at an image of Turkish President Recep Tayyip Erdogan next to the words, “Kill Erdogan.” Bern regional prosecutors opened a probe for alleged “public provocation of crimes or violence,” Bern police spokesman Dominik Jaeggi said. ...