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

  BUFFALO, NY / DPA They don’t mean to sound ungrateful, but … New York public college students who would stand to gain from the nation’s most ambitious free-tuition proposal are quick to point out a sobering reality from their own meager finances: Free tuition doesn’t mean free college. Take Brooklyn College senior Florencia Salinas, who despite having her tuition ...

  Bloomberg Donald Trump and global crude producers are set to take prices on a bumpy ride this year, according to the world’s biggest independent oil trader. As investors are kept on tenterhooks over US policies and whether OPEC and other nations will curb output as pledged, global benchmark Brent crude may vacillate between $52 and $62 a barrel, according ...

  Bloomberg Oil’s advance to near $54 a barrel amid increased tensions between Iran and the US eased after American drillers expanded the rig count to the highest level since October 2015. Futures rose 0.4 percent in New York after last week capping a third weekly gain. Prices climbed as much as 1.3 percent on Friday after Donald Trump’s administration ...

  LONDON / Reuters Swiss-based commodities giant Glencore has extended a deal with Libya’s state oil firm to be the sole marketer of one third of the country’s current crude oil production, sources familiar with the matter said. It was not clear for how long Glencore would continue to have exclusivity over the output and whether some parts of the ...

  Reuters Turkey has transferred government stakes worth billions of dollars in Turkish Airlines, major banks and fixed-line operator Turk Telekom to a sovereign wealth fund set up last year to help finance big-ticket infrastructure projects. Ankara has ambitious plans for the fund, established last August with initial capital of 50 million lira ($13.6 million). It wants the fund to ...

  TEHRAN/ AP Iran’s nuclear chief says it will have 60 percent more stockpiled uranium than it did prior to the landmark 2015 agreement with world powers after a shipment expected later this week. Ali Akbar Salehi was quoted by the semi-official Fars news agency on Sunday as saying that Iran will receive a final batch of 149 tons of ...

  CAIRO / AP Egypt’s Central Bank says that the country’s foreign reserves have reached $26.4 billion in January, up from $23 billion in November. The bank announced the increase in a brief statement posted online Monday. The rise comes after the government secured a $12 billion loan from the International Monetary Fund. In order to qualify for that loan, ...

  Bloomberg Singapore is considering a range of measures to lure a listing from energy giant Saudi Arabian Oil Co., according to people familiar with the matter, as global exchanges compete for a slice of what could be the world’s largest-ever initial public offering. The island nation is studying proposals including inviting one of its state investment companies to become ...

  Bloomberg Chinese dealmaker Fang Fenglei won backing from Global Logistic Properties Ltd.’s chief executive officer as he pursues a take- over of the $9.1 billion warehouse owner, which could become the biggest Asian buyout deal, people with knowledge of the matter said. Fang’s Beijing-based private equity firm, Hopu Investment Management, submitted an offer for the Singapore company together with ...

  Bloomberg Australia has ordered the sale of 15 properties illegally acquired by overseas buyers as part of the government’s crackdown on breaches of its foreign investment laws. The properties are located in Victoria and Queensland and have a combined purchase price of more than A$14 million ($11 million), Treasurer Scott Morrison said in a statement on Monday. They range ...