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

  Wall Street is split on the value of having a Chinese joint venture. Morgan Stanley and UBS Group AG are planning to raise their stakes in their securities operations in the country to the maximum 49 percent allowed, just weeks after JP Morgan Chase & Co. severed ties with its local partner amid frustration over a lack of control. ...

  People who want less immigration have been underrepresented in the U.S. Congress. Gallup found that 38 percent of Americans fall into this category, while 21 percent want increased immigration. But in 2013, a Senate committee voted 17-1 against capping legal immigration at 33 million people over the next decade. The one senator who voted for a cap — the ...

  The British people chose to vote in June 2016 to disentangle their country from the EU. They did not simply vote to withdraw from the European Union but to change the way their country works. But even after more than six months of that historic referendum, people are not sure about what the future holds for them. The most ...

  The Internet of Things is one of the gadget industry’s brightest hopes in a world that’s saturated with smartphones. Sensors are cheap, and digital giants such as Amazon and Google are aggressively pushing their voice-command technology. The resulting hype, however, spawns inventions that should only exist in the corny worlds of science fiction. At this point, the IoT market ...

  The Dow Jones Industrial Average came tantalizing close to 20,000 on January 6, a record level that is being closely watched (and hyped) by the financial media. At one point during the trading session, it was within 0.37 points, or 0.0002 percent. Most agree that it is just a matter of time before this milestone is attained. The longer-term ...

  As millennials slowly age into family life, they’re faced with two daunting financial challenges: the rising cost of housing and the high cost of child care. One way to deal with these challenges is to use technology-enabled remote work so parents can live and work in cheaper small towns like their elders did generations ago. Annual growth in home ...

  Bloomberg Prime Minister Narendra Modi is set to inaugurate an international exchange in Gujarat state’s new finance zone, seeking to grab some of India’s $48 billion in offshore banking activities from Singapore, Dubai and Hong Kong. The India International Exchange, at the bottom of a 16-storey building that dominates the finance zone, will start trading single stock and equity ...

  Bloomberg China’s foreign currency holdings fell for a sixth month in December, bringing last year’s drop to $320 billion as the yuan posted its steepest annual slide in more than two decades. Reserves decreased $41.1 billion to a fresh five-year low of $3.01 trillion, the People’s Bank of China said. That was in line with estimates in Bloomberg’s survey ...

  Bloomberg Jason Katz, a former Barclays Plc currency trader, admitted conspiring to fix prices in the foreign-exchange market, the third individual to be charged and the first to plead guilty in a long-running US criminal investigation into the rigging of currency rates. Katz appeared in Manhattan federal court, where he admitted to participating in a conspiracy with other bankers ...

  Bloomberg One of Goldman Sachs Group Inc.’s out-of-consensus calls for 2017 is already bearing fruit. While big investors are positioned for Turkey to do well, analysts led by Caesar Maasry recommended greater caution in a report — shortly before the lira plunged to a fresh lows against both the US dollar and the euro. The bank’s analysis of actively-managed ...