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

  Given the turf wars and interagency rivalries that have long surrounded US special operations forces, President Obama probably didn’t do the commandoes any favor when he delivered his last big military speech at the base in Tampa where they’re headquartered. Obama’s recent visit to MacDill Air Force Base, home of US Special Operations Command, or SOCOM, was in many ...

  Donald Trump’s campaign promise to crack down on visas for skilled foreign technology workers has a cheerleader in China. Robin Li, the head of Baidu, recently told a conference that he hopes talented workers who are no longer welcome in the US will “migrate to China and help China play a more important role on the stage of global ...

  Amid much protest, Japan’s lawmakers are considering a bill this week that would open their doors to opulent gambling houses. Analysts have dubbed it “manna from heaven” and the “holy grail.” Yet as any gambler will tell you, appeals to the divine are a sure sign of a weak hand. Japan’s casino project, like Asia’s gambling binge in general, ...

Oil surged after a landmark deal by Russia and other non-OPEC producers to join the cartel in capping output. They agreed to reduce their production by more than half a million barrels per day. This is a much desired step to stem the global glut that has hammered prices. The agreements, if implemented, would hasten the market’s return to balance ...

  Nobody likes corruption, but when fighting it becomes the focus of politics and policy, voters can quickly tire of this. The Romanian Social Democrats proved it on Sunday by winning a landslide election victory a year after its leaders were seemingly disgraced in a string of corruption scandals. The Social Democratic Party, led by Liviu Dragnea, won some 45 ...

  Stagnant wage growth for the global middle class has been cited for everything from the rise of Donald Trump, the UK vote to leave the European Union and the referendum that prompted the resignation of Italian Prime Minister Matteo Renzi. I’d like to add a business victim to the list: Switzerland’s luxury watch industry. The most basic Rolex Oyster ...

  The outcome of the Italian referendum last week added to the political, economic and financial uncertainty facing Europe, the world’s largest economic region. Nonetheless, global equity markets shrugged off the turbulence even more quickly than they overcame the shock of the Brexit vote in June. As a result, US indexes have surged to new highs, adding to an impressive ...

  Bloomberg Qatar Airways said it’s seeking to renegotiate a $7.8 billion order for Airbus Group SE narrow-body jets and could switch to bigger planes powered by alternative engines as part of a revised agreement. The Gulf carrier wants to keep the deal for 80 A320neos after refusing to take the first four aircraft because of glitches with their Pratt ...

  Mexico City / AFP US retail giant Walmart said it plans a fresh $1.3 billion investment in Mexico, where it was hailed amid US President-elect Donald Trump’s tough line on foreign trade and keeping jobs in America. The American company plans to build new distribution centers and expand existing ones “which will create more than 10,000 new jobs,” said ...

  Washington / AFP Aviation giant Boeing said it was cutting production of its 777 aircraft to five a month from seven due to slackening demand, in a move that will impact jobs. The announcement followed the manufacturer’s clinching of a $17 billion dollar deal on Sunday to sell 80 jetliners, including the 777, to Iran, the first such agreement ...