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

  Bloomberg London Mayor Sadiq Khan will urge business leaders to warn their governments of the threat posed to Europe by the “hard Brexit” advocated by UK Prime Minister Theresa May in her speech. Speaking at the World Economic Forum in Davos, Khan, who is a member of the opposition Labour Party, was expected to say that securing “privileged” access ...

  Bloomberg Oil companies and UK retailers are the sectors most likely to come under financial stress in Europe this year, even as central bank stimulus keeps borrowing costs near historic lows, according to S&P Global Ratings and Fitch Ratings. With the European Central Bank committing to an asset-purchase program until at least December, leveraged companies can refinance their debt ...

  Bloomberg With US railroads forecast to report their first earnings growth since 2015, a stock rally that began in anticipation of the profit rebound is looking overdone. An index of major carriers has jumped more than 55 percent since sinking to a three-year low Jan. 25, more than doubling the S&P 500 Index’s return. The surge pushed railroad stock ...

  BAGHDAD / AP US-backed Iraqi government troops announced on Wednesday they were in “full control” of eastern Mosul after routing IS militants from that part of the northern city, three months since the major operation started. The achievement was a “big victory,” said Iraqi Army Lt. Gen. Talib Shaghati, who commands the counter-terrorism forces, describing the success of the Iraqi ...

  GAO / AP A suicide bomber in an explosives-laden vehicle attacked a camp in northern Mali on Wednesday, killing at least 50 people and wounding dozens of soldiers and former fighters now trying to stabilize the region. While there was no immediate claim of responsibility, suspicion quickly fell on the extremist groups operating in the area which oppose the 2015 ...

  DAVOS / AP Lawrence Summers, the former US Treasury Secretary, has warned that Donald Trump’s threats to firms using Mexico as a manufacturing base will be counterproductive and could lead to the loss of hundreds of thousands of American jobs. Summers told a panel at the World Economic Forum on Wednesday that the president-elect’s “rhetoric and announced policies” over Mexico ...

  JERUSALEM / AP An Israeli Arab rammed his vehicle into a group of police officers on Wednesday, killing one of them before he was shot dead during clashes in southern Israel over a court-ordered operation to demolish illegally built homes, police said, while local residents accused the police of using excessive force against demonstrators. The conflicting accounts, and ensuing confrontations ...

  BANJUL / AP Gambia’s Parliament has voted to extend President Yahya Jammeh’s term in office for three months, even as his mandate was set to end Thursday, state television said on Wednesday. The extension takes effect immediately. The announcement came a day after Jammeh declared a three-month state of emergency as he seeks to stay in power despite losing elections ...

  BEIJING / AP China on Wednesday called on the US to bar a Taiwanese delegation from attending Donald Trump’s inauguration on Friday, underscoring concerns that the incoming president could seek to redefine relations between Beijing, Taipei and Washington. Foreign Ministry spokeswoman Hua Chunying said the request had been passed to Trump’s transition team and to the current administration of Barack ...

  In the first week of 2017, the offshore yuan surged by a record amount against the U.S. dollar over two days, interbank borrowing costs soared and volatility intensified. The following week, pretty much everything reversed. It’s a familiar pattern that exemplifies the contradictions bedeviling China’s currency. Policy makers have expended much effort trying to internationalize the yuan, notably by ...