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

  Bloomberg The rupee’s surge and a banking system awash with funds will shift focus to a little-used tool in the Indian central bank’s arsenal before next month’s policy review. The Reserve Bank of India may consider raising the cash reserve ratio for the first time since 2010 if deposits accumulated due to November’s cash ban don’t flee over the ...

  Reuters Stock markets in the Middle East were mixed on Monday with petrochemicals and the insurance sector weighing on Saudi Arabia while Qatar rose as it completed its upgrade by index compiler FTSE Russell to secondary emerging market status. The Saudi index fell 0.5 percent with the main drag coming from the petrochemical sector as Brent oil futures fell ...

  Bloomberg Prime Minister Narendra Modi’s election-win magic looks to be casting a spell on the Indian stock market. The S&P BSE Sensex index will climb to 32,000 by the end of December, up more than 8 percent from its close of 29,518.74 on Monday, according to a median estimate of eight traders and investors surveyed by Bloomberg News on ...

  LONDON / AP Global stock markets were trading lower on Monday after finance ministers from the world’s major economies dropped a pledge to oppose trade protectionism from a weekend statement due to resistance by the Trump administration. In Europe, France’s CAC-40 fell 0.3 percent to 5,015 while Britain’s FTSE 100 declined 0.1 percent to 7,417. Germany’s DAX declined 0.3 ...

  Tesla Inc. clearly understands the best appetizers leave you hungry for more. After months of playing coy about whether or not it would raise more money, Elon Musk’s electric-vehicle-cum-renewable-energy company announced it was seeking up to $1.15 billion in new money, three quarters of it from a convertible bond and the rest from selling new stock. Bit of a ...

  Private equity in India is beset by a trinity of predicaments. The first is what managers get paid for: finding businesses that can deliver 20% returns in an economy where asset valuations, at least in public markets, are already the most expensive in Asia. A bigger problem is the frustration of knowing where the winners are hidden in the ...

  It’s a sad state of affairs when European unity is splintering before the UK has even officially triggered the process of leaving the EU. It’s worse for the City of London that banks and insurers can’t easily exploit that to their advantage. Regulators, officials and ministers across Europe have spent the past week throwing rocks at each other about ...

  Bloomberg Vodafone Group Plc agreed to merge its Indian unit with Idea Cellular Ltd., joining forces with a local partner to confront a raging price war in the world’s second-largest mobile-phone market. The European carrier will own 45.1 percent after selling a 4.9 percent stake to billionaire Kumar Mangalam Birla’s holding companies, according to a stock exchange filing on ...

  Bloomberg Flipkart Online Services Pvt has completed a $1 billion fundraising and aims to raise as much as $1 billion more over the next few months, according to people familiar with the matter, giving India’s largest e-commerce company capital to battle back against rising competition. Flipkart secured its latest funding at a valuation of about $10 billion, said the ...

  CANBERRA / AP Five Regional Express Airlines passenger planes had been grounded as a precaution after a near disaster in which a propeller fell off an airliner as it approached Sydney Airport, the Australian airline said on Monday. A Saab 340 carrying 19 passengers and crew landed safely in Sydney on Friday after one its two propellers fell off ...