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

  JERUSALEM / AP The mayor of Jerusalem says the Trump administration is “serious” and committed to moving the American Embassy from Tel Aviv to Jerusalem. Nir Barkat says that from conversations he’s had with those in the new US administration, he knows “they are serious about their intentions.” He also told Army Radio on Monday that “an embassy cannot ...

  SANAA / AP A top military official says forces allied with the internationally-recognized government of Yemen have seized control of a strategic Red Sea port, after waging an assault against Shiite rebels. Brig. Gen. Ahmed Seif al-Yafai said in press remarks on Monday that his forces have entered the city of Mokha, where dozens of families were seen fleeing ...

  ADEL / AP A vast storm system that kicked up apparent tornadoes, shredded mobile homes and left other destruction scattered around the Southeast has claimed at least 19 lives during its two-day assault on the region. Authorities said on Monday at least 15 deaths occurred in south Georgia alone, including seven from an apparent winter twister that tore through ...

  SEOUL / AP Fans of a traditional bull-taming ritual in southern India went on a rampage on Monday, attacking a police station with stones and setting dozens of police vehicles on fire on Monday in anger at being forcibly evicted from the beach where they been protesting for the past week in support of the sport. Jallikattu involves releasing ...

  VIENNA / AP Four people have died over the weekend in Austria while skiing, snow-shoeing or sledding — an unusually high toll linked to winter sports in the country. The Austria Press Agency says that two Czech nationals snow-shoeing in Salzburg’s alpine region died Sunday after being buried in an avalanche while two others managed to free themselves. State ...

  BUDAPEST / AP Hungary’s national flag has been raised and then lowered to half-staff on a towering flagpole outside parliament as the country marked a day of mourning for the victims of a fiery bus crash in Italy involving students and teachers from a Budapest high school returning from a ski trip. Prime Minister Viktor Orban, President Janos Ader ...

  DUBAI / Reuters Saudi Arabia outperformed other Gulf stock markets on Monday as several major stocks bounced after poor earnings earlier this week, while a bull run in Kuwait slowed and Egypt rebounded sharply from a slide triggered by tax fears. The Saudi index rose 1.7 percent in the highest trading volume since Jan. 2. Food maker Savola, which ...

  Bloomberg European stocks and bond yields dropped on Monday and the dollar hit a six-week low after U.S. President Donald Trump began his term in office with a protectionist speech that pushed a nervous market into safe-haven assets. World stocks hit multi-year highs earlier this month on expectations Trump would boost growth and inflation with extraordinary fiscal spending measures. ...

  DUBAI / Reuters National Bank of Kuwait (NBK) , the Gulf Arab state’s largest commercial lender, posted a 40 percent rise in fourth-quarter net profit, according to Reuters’ calculations, as the bank continued to benefit from government spending. The bank made a net profit of 75.9 million dinars ($248.9 million) in the three months to Dec. 31, compared with ...

  Bloomberg Equity strategists are yet again predicting that this will finally be the year European profits deliver. This time, it’s Citigroup Inc.’s Jonathan Stubbs forecasting the region’s earnings will jump at least 10 percent to end a three-year dry spell. His bullishness on Europe is reminiscent of early 2015 and 2016, when strategists and investors doubled down on the ...