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

  ABU DHABI / WAM The National Bank of Abu Dhabi (NBAD) closed the syndication of its US$2 billion club loan facility with a large oversubscription. Commitments of nearly $3 billion were received in syndication from 14 major international banks across Europe, Asia and the United States. However, due to its excellent liquidity position, NBAD will not be increasing the ...

  ABU DAHBI / WAM The Central Bank of the UAE (CBUAE) announced that, as of December 15, it has raised interest rates applied to its Certificates of Deposits in line with increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase Federal Funds Rate by 25 basis points. Certificates of Deposit, which CBUAE issues ...

  MUSCAT / WAM The UAE participated in the meeting held on Thursday by Arab tourism ministers in Muscat, Oman to discuss efforts in developing the tourism industry in the Arab region. The UAE delegation at the 19th Arab Ministerial Tourism Council, an affiliate of the Arab League, is headed by Mohammed Khamis Al Muhairi, Under-secretary at the Ministry of ...

  VIENNA / WAM In 2017, world oil demand growth is forecast at 1.15 mb/d to average 95.56 mb/d, according to OPEC Monthly Oil Market Report. ‘‘World oil demand growth is estimated at 1.24 mb/d in 2016 supported by the transportation sector, reflecting low retail prices and better-than-anticipated vehicle sales. In the non-OECD, other Asia and China saw solid-to-steady oil ...

  During his campaign and even since becoming president-elect, Donald Trump has said a lot of things and cited a lot of figures that appear to be completely made up. When he has talked about the economy, though, Trump has often relied on actual government statistics. For example, there was Trump’s charge that Barack Obama has been “the first president ...

  Here’s a maxim for life as a famous economist: If your theory wins a Nobel Prize, look out — it might already be running into big problems. When the Black-Scholes-Merton option-pricing model won the prize in 1997, it had already required some major tweaks to fit new data; a decade later, it was being blamed for the financial crisis. ...

  A month after it ended, the 2016 US presidential election is only getting stranger. Intelligence agencies and private researchers now largely agree that Russia conducted a pervasive online campaign — through hacking, theft and propaganda — to disrupt the electoral process. The question is what to do about it. The first priority should be conducting a formal investigation. Yet ...

  Taiwanese President Tsai Ing-wen’s telephone call to US president-elect lasted only for 10 minutes. But it has upended the decades-old One China policy. And this was the closest a Taiwanese president came to getting a formal recognition by United States. Tsai telephone call stirred the hornets’ nest. And it led to a barrage of blunt criticism both from China ...

  Americans enjoy an unusual kind of security — their big, domestically focused economy isn’t very vulnerable to external shocks. But most people around the world don’t have that luxury: Their jobs, businesses and livelihoods are very sensitive to events in far-off lands, and the choices of leaders they don’t elect. Right now, much of the world is in danger ...

  Don’t tell Tiny Tim, but even if Brexit hasn’t put a damper on Christmas 2016, next year might be a different story. Come January, Britons will pay 5 percent more for their Lego sets, as the Danish company raises prices in response to the pound’s decline in the wake of the UK decision to leave the European Union. And ...