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

  Financial markets have been optimistic since the election of Donald J. Trump in the U.S., in part because investors assume that the incoming administration will pass some sort of business-friendly tax reform. But some of those reforms could hit investors in unexpected ways. One plank of Trump’s business-friendly tax reform, which Hillary Clinton proposed as well, entails giving multinational ...

  Jean-Michel Paul When they were opposition figures, populists could content themselves with provocative slogans. Once in office they must produce concrete policies. The challenge for them — and for those incumbents trying to hold onto office — is to preserve the real gains of globalization while addressing the concerns of the new radical majority. Here are some policy directions ...

  DUBAI / Reuters Saudi Arabia’s index firmed on Wednesday as blue chips resumed their climb and the positive mood flowed into other Gulf bourses, carrying them higher. Egypt’s market edged up, holding near an 8-year peak as foreign funds remained aggressive buyers. Riyadh’s index bounced 3.0 percent to 6,796 points, closing 93 points over technical resistance at the July ...

  London / AFP A sharp slowdown in British growth due to Brexit and a rebounding dollar teamed up to jolt London stocks on Wednesday. While London stock market rose modestly ahead of the presentation Britain’s first budget update since the Brexit vote, those gains disappeared after finance minister Philip Hammond told parliament Wednesday that gross domestic product was expected ...

  Bloomberg Deutsche Lufthansa AG’s long-running pilot dispute reached new levels of bitterness as a failed bid to have a day-long strike declared illegal led a union to retaliate by extending the walkout by 24 hours. Lufthansa canceled 876 flights on Wednesday, disrupting travel for 100,000 people, and could lose a similar number of services on Thursday after the Vereinigung ...

  Paris / AFP The United States has approved a second export licence for Airbus to sell jetliners worth billions of dollars to Iran’s flag carrier, the European aviation giant said. “We confirm that we have received our second licence from the US Office of Foreign Control Assets following the agreement (with Iran Air) signed in January 2016 in Paris,” ...

  Bloomberg Boeing Co.’s aging Super Hornet fighter is getting a lift after Canada said it planned to purchase 18 as a stopgap measure while the government begins a five-year bidding process for new jets to modernize its fleet. The country will enter negotiations with Boeing to “immediately explore” the acquisition of the jets, and a separate competition will be ...

  Bloomberg ABX Air, which flies packages for Amazon.com Inc. and DHL Worldwide Express, asked a federal judge to force striking pilots back to work and thwart a threat to disrupt deliveries during the holiday shopping season. About 250 pilots employed by ABX Air, a subsidiary of Air Transport Services Group Inc., are striking to protest alleged staffing shortages at ...

  Suva / AFP Fiji Airways announced on Wednesday it had ordered five new Boeing 737s — reportedly worth $470 million — as part of a fleet upgrade programme at the Pacific nation’s flag carrier. The airline said it would take delivery of two Boeing 737 MAX 8 aircraft next year and three more in 2018 to replace five earlier-model ...

  Bloomberg India’s war on cash has at least two likely victors: Visa Inc. and Mastercard Inc. The world’s largest payment networks will see a surge in transactions and cardholders after the Indian government’s decision this month to remove high-denomination bills from circulation, according to analysts who cover the companies. The two networks have been pushing for this kind of ...