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

  Bloomberg This hardscrabble Wyoming city of about 30,000 people proclaims itself the “Energy Capital of the Nation” on the mayor’s blue blazer and even the parking ticket payment boxes. Nearby are some of the world’s largest open-pit mines, where dump trucks the size of houses haul out more than 40 percent of the coal produced in the US. The ...

  Bloomberg The pound headed for its first quarterly gain versus the dollar since mid-2015 as data showed the currency’s Brexit decline delivered a double boost for the UK economy. A bumper contribution from trade saw the nation’s gross domestic product grow an unrevised 0.7 percent in the fourth quarter, its fastest pace in a year, data showed. In the ...

  DUBAI / Reuters Stock markets in the Gulf moved sideways in thin volumes on Sunday, while shares of the newly-formed lender in Abu Dhabi, First Abu Dhabi Bank, outperformed a day after the legal completion of the merger. Shares of First Abu Dhabi Bank – the new name of the newly merged National Bank of Abu Dhabi and First ...

  Bloomberg Its last day may have been a washout, but the first quarter just took its place among the best of the lengthening bull run for US stocks. Even with a 0.2 percent decline, the S&P 500 Index surged 5.5 percent in the three months ended March 31, the biggest advance since shares jumped 6.5 percent at the end ...

  Bloomberg Puente Hnos SA, the largest local brokerage in Argentina, is weighing selling shares of its UK holding company in Buenos Aires before the end of the year. The company is still considering an initial public offering in New York or London, Federico Tomasevich, Puente’s global chairman, said in an interview. Selling the securities in Argentina is preferred because ...

  It isn’t often that economics raises the most profound questions of human existence, but recent work of economists Anne Case and Angus Deaton (husband and wife, both of Princeton University) comes close. You may recall that a few years ago, Case and Deaton reported the startling finding that the death rates of non-Hispanic whites aged 50 to 54 had ...

  I’m taking you on a nostalgia trip. Remember the olden days (2016), when it seemed outlandish investments in technology startups were a thing of the faraway past (2015)? Snap out of it. Just look at the headlines of the past few weeks. China’s on-demand ride king Didi Chuxing is considering a $6 billion investment backed by SoftBank. Airbnb finalized ...

  Given the usual speed of economic reform in India, it’s remarkable that the biggest change in years might actually start on schedule. “Start,” though, is the operative word. If the country’s new national goods-and-services tax does go into effect in July, which looks more likely now that Parliament has passed the requisite legislation, that will be worth celebrating. The ...

  As the debate over Russian scandal rages, Trump aides are volunteering to testify to Congress without even being asked for. First it was ex-Trump’s national security adviser Michael Flynn, who was fired in January for misleading the White House about his conversation with Russian envoy Sergei Kislyak, offered to testify if granted immunity. Flynn initially lied to Vice President ...

  With the bankruptcy this week of Westinghouse Electric Co., the future of big nuclear power plants in the US isn’t looking good at all. But maybe, just maybe, there is hope for something smaller. Westinghouse, which was acquired by Japan’s Toshiba Corp. in 2006, has been building the only nuclear power plants currently under construction in the US: two ...