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

  Bloomberg Wells Fargo & Co. charged some homebuyers fees to extend promised interest rates when the bank failed to process their mortgage applications on time, ProPublica reported, citing four former employees from the Los Angeles area. The practice, apparently limited to that region, broke with the company’s policy of eating the fees when it was at fault for delays, ...

  Bloomberg BlackRock Inc. yanked custody services from State Street Corp. on more than $1 trillion in client assets as the asset manager seeks to cut costs by putting pressure on vendors. The move of assets to JPMorgan Chase & Co. is part of BlackRock’s strategy to exact lower fees, according to a person familiar with the matter. The bank ...

  DUBAI / Reuters Gulf stock markets were mixed on Thursday, supported by strong global equities and oil prices, while Egypt surged on the back of the success of Cairo’s international sovereign bond issue. The Saudi index edged up 0.1 percent though losing stocks outnumbered gainers by 99 to 52. Petrochemical blue chip Saudi Basic Industries added 1.0 percent, while ...

Bloomberg The rally in US stocks stalled on Thursday as investors sorted through a raft of corporate results that delivered a mixed picture on the state of the American economy. The dollar rebounded and Treasuries slipped with gold. The Dow Jones Industrial Average held above 20,000 after topping the round-number milestone for the first time Wednesday. Caterpillar Inc. edged higher ...

  It is still early days, but a picture of the economic policy approach favored by President Donald Trump is gradually coming into focus. Here are some of its key features as signaled by the words and actions of the administration in its first week in office: It is targeting higher growth and greater job creation using what can be ...

  Bitcoin investors can thank China for popping a bubble in the digital currency. The 10-day volatility of bitcoin dropped 50 percent in a matter of days after authorities stopped leveraged bets and, on Monday, nudged exchanges to start charging transaction fees. The squeeze began in the first two weeks of January when a spike that took the currency’s price ...

  Even as he puts a stake through Barack Obama’s ambitious, 12-nation trade pact with Asia, President Donald Trump has signaled he’s willing to strike narrower bilateral deals in the region. His first one should be with Japan. To be clear, any bilateral deal would be far inferior to the Trans-Pacific Partnership, which would have not only lowered barriers to ...

  With a stroke of a pen, US president Donald Trump withdrew America from the Trans Pacific Partnership (TPP). Trump argues it will benefit US companies and workers. In fact, the decision will have adverse effect. And he made is clear that he is not going to deviate from his protectionists promises. Trump pat his back after signing an executive ...

  Dubai / Emirates Business As the UAE gears up for a boom in the In-Vitro Diagnostics (IVD) market, expected to reach US$380 million by the end of 2020, the medical community has turned its focus towards exciting new products and technologies to keep up with the demand for new diagnostic capabilities that can have a real impact on improving ...

  Sharjah / WAM His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, issued an administrative resolution No. 2 of 2017, pertaining to preparing Sharjah to join the Global Network for Age-Friendly Cities and Communities. The administrative resolution states the importance of environment in determining healthy ageing and encouraging the creation of age-friendly environments. ...