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

  Bloomberg Barclays Plc is preparing to tell 7,000 clients to do more trading with the firm or find another bank, the latest move in an industrywide trend of winnowing down customer lists to the ones that produce significant profits. The British bank launched a new computer system, called Flight Deck, this month that ranks every customer of its trading ...

  Bloomberg China’s capital outflows are accelerating and the central bank is selling larger amounts of foreign exchange, Goldman Sachs Group Inc warned as the yuan headed for its biggest annual decline in more than 20 years. A net $69.2 billion exited the nation in November, compared with a monthly pace of around $50 billion since June, Goldman economists led ...

  Bloomberg Banca Monte dei Paschi di Siena SpA is attempting to sell shares on the market while the government prepares a plan to inject as much as 15 billion euros ($15.7 billion) into Italian banks should the fundraising fail, according to a person with knowledge of the matter. Italy’s Treasury plans to participate in the share sale, which may ...

  Berlin / AFP Better known for its electronic music and street art, Berlin is now also home to a budding graphic novel scene in a country that has treated illustrated stories as children’s literature. Hardly seen in bookstores just a few years ago, German-produced graphic novels now have their dedicated shelves, as not only homegrown artists but also foreign ...

  Ouinhi / AFP Daniel Aboko proudly shows off the 11 hectares (27 acres) of paddy fields he shares with other farmers — a small spread that produces a bounty of food thanks to smart irrigation and a hardy strain of rice. In just four years, small farmers in Ouinhi, southeastern Benin, have seen their rice harvest double from three ...

  Bloomberg The European Union seeks to tackle energy market distortions with policies that will eliminate coal and favour natural gas-fired and renewable power while reducing the cost of lowering emissions. The European Commission plan to limit the use of high-emissions generation to secure supply will hurt coal plants starting in 2020, but not modern gas units, according to the ...

  Bloomberg Oil prices traded below $52 a barrel as investors eye the potential return of crude volumes from Libya amid continuing tension in the OPEC member that’s exempt from output cuts. Futures were down as much as 0.8 percent in New York following a 2 percent gain on Friday. Libyan oil-facility guards backtracked on an agreement to allow supply ...

  Bloomberg Investors are the most optimistic on oil since the slump began two and a half years ago. Money managers boosted bets on rising West Texas Intermediate crude prices to the highest level since July 2014 after the Organization of Petroleum Exporting Countries and producers outside the group agreed to coordinate crude production cuts. Prices advanced to a 17-month ...

  Bloomberg Saudi Aramco plans to commission its wind turbine pilot project, the first in the kingdom, next month, the state oil company said on Sunday, part of nationwide plans to diversify energy supplies and to meet an increase in demand. The wind turbine, supplied by U.S. company General Electric will provide power to Saudi Aramco’s bulk plant in Turaif, ...

  Emirates Business Mongolia will seek approval from the Import-Export Bank of India to build an oil refinery and pipelines with $1 billion in infrastructure funding negotiated last year, a project that could boost the nation’s gross domestic product by 10 percent. The government intends to use $700 million of the loan for an oil refinery and $264 million for ...