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

  DUBAI / WAM Dubai’s non-oil foreign trade reached AED952 billion in first nine months of 2016. Imports had the lion’s share at AED 594 billion, while exports and re-exports accounted for AED109 billion and AED 249 billion, respectively, according to official figures. Dubai saw a 11 percent surge in the total volume of traded goods in the first nine ...

  ABU DHABI / WAM Abu Dhabi General Services Company, Musanada, said that it will complete and hand over 4 schools in Al Ain city to Abu Dhabi Education Council (ADEC) by next April, well ahead of the start of the new academic year 2017-2018. This forms part of Musanada’s efforts to realise the vision of Abu Dhabi plan, and ...

  Far from jolting the US into a protectionist lurch, might President-elect Donald Trump unwittingly help buoy global trade next year? Here’s one scenario to mull over: A strong dollar and a tight US labour market, combined with Trump’s proposed fiscal plans, may fuel a rise in net US imports in 2017, a boon for commodity exporters and goods manufacturers ...

  A new year is just around the corner, and pressure on the yuan means Beijing can look forward to a host of fresh outflows into Hong Kong insurance, curbs or no. The annual $50,000 cap on foreign-exchange conversions resets on Jan. 1, and it’s a safe bet sales of dollar-denominated premiums in the city will spike. Before October’s ban ...

  There’s no good place to start a nuclear arms race — and Twitter is an especially bad venue. So it’s unfortunate that President-elect Donald Trump on Thursday tweeted his desire for the US to “greatly strengthen and expand its nuclear capability,” then followed up on Friday morning by saying, “Let it be an arms race.” It’s hard to know ...

  The Obama administration abstained from voting on a United Nations Security Council resolution condemning Israel’s West Bank expansion. Israel reacted fiercely. Tel Aviv accused Washington of abandoning its closest Middle East ally. The resolution called Israeli settlements illegal and demanded that country immediately stop construction in West bank and other territories seized in 1967 Middle East war. Some 430,000 ...

  This year’s news about what artificial intelligence can do in the arts has been both exciting and scary. Neural networks have learned to paint like masters and compose sophisticated music. Those of us in creative endeavours might be as endangered by technological advances as blue-collar workers are often said to be — though we are protected by certain limitations ...

  It’s a Christmas fairy tale. After a 30-year sleep, during which costs have run out of control, investment banks have suddenly woken up to the fact that thousands of their customers don’t make them money. Cursing the ogres of Basel, they find a magic marker pen and cross the freeloaders off their client lists. It all ends happily ever ...

  It’s not looking pretty for department stores. Other than electronics retailers and gas stations, department stores are the only major retail category in the US in which sales fell in the 11 months through November from a year earlier, according to US Census data released this week. And while most of the conversation about dying department stores centers on ...

  Berlin / AFP Germany was hunting for possible accomplices of the suspected Berlin truck attacker on Saturday, a day after he was killed in a shoot-out with Italian police in Milan. As most of the country readied to celebrate Christmas Eve, Germany’s under-pressure authorities said hundreds of investigators would be working on the probe throughout the holiday season. Tunisian ...