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

  The issue of hindsight bias and fooling ourselves about what we think knew a priori haunts investors constantly. We are reminded of this by those who claim they saw the financial meltdown coming. Despite the lack of proof, they remain convinced they knew what was about to happen all along. These folks are fooling themselves. Due to several cognitive ...

  Matthew Winkler There’s been nothing but trouble for much of Africa as the price of oil plummeted 55 percent during the past two and a half years. But there’s a brighter side to the sub-Saharan continent. Unlike Nigeria, where oil accounts for more than 90 percent of exports, or South Africa, which never recovered from the 2008 financial crisis ...

  Reuters Egypt’s stock market gained for a 12th straight session on Sunday after the International Monetary Fund approved a $12 billion loan for the country, while Saudi Arabia rose, bucking a downtrend in the rest of the Gulf. The IMF loan approval had been widely expected, but it added fresh fuel to a rally caused by Egypt’s decision to ...

  New York / AFP Donald Trump’s shock win of the US presidency sparked a surprising rally on Wall Street this week that some believe could be a prelude to further gains. The response, which sent the Dow Jones Industrial record to all-time highs on Thursday and Friday, reflected expectations that pro-business policies and ramped-up public works spending would spur ...

  DUBAI / Emirates Business Qantas launched a new virtual reality app – Qantas VR – giving customers an interactive new way to discover and explore destinations before physically travelling there. Available for iPhone, Android, Samsung Gear VR, Oculus Rift, and HTC Vive devices, the app showcases Australia’s distinctive landscape through a series of immersive videos, including never before seen ...

  Abu Dhabi / Emirates Business The International Council of Shopping Centers (ICSC) announced the winners of the 2016 Middle East and North Africa (MENA) Shopping Centre and Retailer Awards, recognizing the region’s most innovative shopping centers for outstanding achievement in retail, retail store design, design and development, and marketing. ICSC has named Al Wahda Mall, Abu Dhabi an Iconic ...

  DUBAI / Emirates Business Top British brand Liberty London has created an exclusive range of washbags for customers flying in First with British Airways. The sleek, slim and stylish washbags feature a contemporary look using a range of carefully chosen prints from Liberty London’s vast textiles archive, updated for today’s modern traveller. The new Liberty London First washbags appear ...

  Emirates Business Pioneering Swiss watchmaker Rado is beefing up its collection with the HyperChrome 1616, an oversized hypermasculine ode to the spirit of discovery. A reinterpretation of Rado’s vintage Cape Horn collection, the HyperChrome 1616 pays tribute to the 400-year anniversary of the brave discovery of this South American headland. In 1616, two Dutch merchants pushed the limits of ...

  Bloomberg Indian banks received 2 trillion rupees ($29.8 billion) of cash after the government’s November 8 surprise move to abolish high-denomination banknotes, as customers queued for hours to deposit or exchange the old bills and ATMs ran dry. With the banned bills accounting for 86 percent of money out of circulation, there is tremendous pressure on the nation’s banking ...

  Bloomberg MetLife Inc., the largest US life insurer, said third-quarter profit tumbled 52 percent on derivative losses and costs tied to the spinoff of a US retail business as Chief Executive Officer Steve Kandarian reorganizes the company. Net income slipped to $571 million from $1.2 billion a year earlier, New York-based MetLife said in a statement. Profit excluding some ...