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

  Reuters Aktif Bank, Turkey’s largest privately-owned investment bank, received regulatory approval to sell up to $120 million via Islamic bonds, or sukuk, in what could be a rare deal in the international sukuk market. Turkey has seen steady issuance of sukuk from the government and the country’s Islamic banks, known domestically as participation banks, but corporate issuance remains rare ...

  Bloomberg UniCredit SpA, Italy’s biggest bank, expects an 11.8 billion-euro ($12.6 billion) net loss for 2016 after setting aside more money for bad loans and booking one-time charges related to its turnaround plan. UniCredit took an additional charge of 1 billion euros, on top of the 12.2 billion euros announced December 13, as it booked a higher writedown of ...

  TOKYO / AP Japan’s central bank upgraded its outlook for growth in the coming year on Tuesday but hedged its bets by keeping its lavish monetary easing unchanged. The Bank of Japan (BOJ) cited easy lending conditions, rising exports and stronger government and corporate spending, in part linked to the 2020 Tokyo Olympics, as reasons to expect more robust ...

  Oberhausen / AP Artist and professor Guenter Fruhtrunk later apologized to his students for designing the logo for Aldi, the discount German supermarket chain that now has 7,000 stores on three continents. Back then, as it is now, it was regarded as unseemly for artists to be serving the interests of capitalism or to make art into bulk commodities ...

  Paris / DPA The plans that Airbus has for a factory in Florida are nothing short of revolutionary for the European aviation giant‘s satellite business. “In a good year up till now we haven’t built more than 10 satellites,” says Nicolas Chamussy, who was appointed as Airbus’ space chief last year. “We’re going to produce two satellites a day ...

  In 2013, a college student assigned to research a deadly substance sought help via Twitter: “I can’t find the chemical and physical properties of sarin gas someone please help me.” An expert at a security consulting firm tried to be helpful, telling her that sarin is not gas. She replied, “yes the [expletive] it is a gas you ignorant ...

  You break it, you fix it. That’s the sentiment ahead of India’s annual budget this week. Amid signs that New Delhi’s 8 November ban on 86% of the country’s currency has disrupted demand, snapped supply chains and cratered credit growth, investors expect a fiscal lollipop from Prime Minister Narendra Modi and finance minister Arun Jaitley. Bigger tax rebates for ...

  Hostility to supposedly bad trade deals was a main theme of President Donald Trump’s campaign, and he seems to mean business: Not only has he withdrawn the US from the Trans-Pacific Partnership, but he also confirmed his intention to renegotiate the North American Free Trade Agreement (Nafta). His exact plans for Nafta, however, aren’t clear. Nafta could stand some ...

  Six people killed in an assault on a Quebec City mosque in one of the worst terrorist attacks in the Canada’s history. All the victims are male, ranging in age from 39 to 60 years old, and had gathered for prayers at the mosque. Alexandre Bissonnette, 27, a political science student at nearby Laval University, has been charged with ...

  The Chinese New Year holiday is traditionally a time of gift-giving and celebration in the Middle Kingdom. This year, no one celebrates more than China’s President Xi Jinping. On Monday, Xi’s US counterpart signed an order withdrawing American support for the Trans-Pacific Partnership. The move fulfilled one of President Donald Trump’s central campaign pledges. Since the 12-nation free-trade pact ...