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

  Bloomberg A European proposal for a tax on financial transactions is trapped in limbo: financial realities won’t let it come to life while political opportunism is preventing a quick death. The tax initiative is being kept alive largely for domestic political reasons as German Chancellor Angela Merkel bids for a fourth term and France prepares for presidential elections this ...

  CHICAGO / AP Shoppers in Chicago will soon have to pay a checkout tax of 7 cents per bag at all retailers in the city unless they bring their own bags to stores. The tax, which starts Wednesday, is the city’s latest attempt to cut down on the use of disposable bags, which are usually given for free at ...

  Bloomberg It’s a good time to be Elon Musk. Shares of the billionaire’s Tesla Motors Inc. have surged 40 percent since December 1, putting the stock within reach of a 52-week high. The acquisition of SolarCity is complete. Musk’s sprawling Gigafactory is now producing battery cells. And the clean-energy evangelist has the ear of a surprising fellow in Washington: ...

  Bloomberg President Donald Trump and Russian President Vladimir Putin pledged cooperation in fighting the IS, the two sides said, as they seek to ease tension after Russia’s invasion of Ukraine, its support for Syria, and allegations that Russian hackers sought to sway the US election. “The positive call was a significant start to improving the relationship between the United ...

  SANAA / AP The US military said on Sunday that one service member was killed and three others wounded in a raid in Yemen targeting its local al-Qaida branch, marking the first-known combat death of a U.S. soldier under President Donald Trump’s new administration. U.S. Central Command said in a statement that a fourth service member was injured in ...

  KUALA LUMPUR / AP Twenty-five, mostly Chinese tourists, were rescued on Sunday after spending more than a day drifting in Malaysian waters after their boat sank, officials said. Six of the 31 people on board were still missing Sunday evening, Shahidan Kassim, a minister in the prime minister’s department, told reporters in Sabah state. The boat’s captain and a ...

  JERUSALEM / AP Israeli Prime Minister Benjamin Netanyahu said on Sunday that the American embassy in Israel should be moved from Tel Aviv to Jerusalem, injecting himself once again into a charged campaign trail promise of US President Donald Trump. Netanyahu’s comments at his weekly Cabinet meeting appeared aimed at countering reports that Israel was concerned about the fallout ...

  WASHINGTON / AP Missing from President Donald Trump’s blitz of immigration orders was any mention of the fate of hundreds of thousands of young immigrants protected from deportation by former President Barack Obama. That omission has left immigration advocates hopeful Trump has softened his opposition to what he once derided as “illegal amnesty,” while others say he has quickly abandoned ...

  Bloomberg UK Prime Minister Theresa May announced a defense deal between BAE Systems Plc and Turkish Aerospace Industries to develop Turkey’s first home-built fighter jet, calling it a step to expand trade with the nation. “It marks the start of a new and deeper trading relationship with Turkey, and will potentially secure British and Turkish jobs and prosperity for ...

  MANILA / AP A suspected Indonesian militant was killed and one of Southeast Asia’s top terror suspects was seriously wounded as the Philippines launched airstrikes using South Korean-made fighter jets for the first time in combat, the military chief said on Sunday. Military Chief of Staff Gen. Eduardo Ano said the body of the suspected Indonesian militant, known by ...