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

  Bloomberg Shipping companies are threatening to scrap their Pakistan services after the South Asian country increased tariffs at its largest port in a blow to an industry that is already grappling with global overcapacity and low freight rates. Hyundai Merchant Marine Co. is “seriously considering” dropping deployment of larger vessels in Pakistan, the South Korean company wrote in a ...

  Bloomberg The Philippines is training its sight on billions of dollars of investment from the Middle East. The Philippine Economic Zone Authority, which oversees hundreds of industrial parks offering tax perks, is identifying sites that can stock Qatar’s oil reserves and land that can be planted with crops for export to the United Arab Emirates after receiving proposals, Director ...

  Bloomberg A South Korean shipping company that filed for bankruptcy protection five years ago emerged as the surprise winning bidder for some assets of the collapsed Hanjin Shipping Co., pipping a bigger rival that is undergoing a creditor-led debt revamp. Korea Line Corp., the nation’s second-largest bulk carrier, beat Hyundai Merchant Marine Co. to be the preferred bidder for ...

  Bloomberg Volkswagen AG has reached an agreement with U.S. environmental regulators to fix or buy back around 80,000 Audi, VW and Porsche vehicles with tainted 3-liter diesel engines, nearing a resolution on a key aspect of the emissions-cheating scandal, people familiar with the discussions said. Under an accord with the Environmental Protection Agency and California’s Air Resources Board, Volkswagen ...

  Bloomberg The Obama administration has yet again delayed a decision on the controversial Dakota Access crude pipeline, even as President-elect Donald Trump vows to speed up reviews of such projects. The US Army Corps of Engineers said that it’ll hold more talks with a Native American tribe potentially affected by the pipeline before deciding on a permit that’s key ...

  Bloomberg Diesel pollution cheating allegations hit a US carmaker as Dodge truck owners sued Chrysler, claiming some engines were rigged to hide emissions as much as 14 times higher that the law permits. The Michigan-based unit of Fiat Chrysler Automobiles NV is the first US carmaker to be sued by consumers. Similar claims were made against German carmakers. Volkswagen ...

  Frankfurt am Main / AFP German economic growth slowed more sharply than expected in the third quarter, official data showed on Tuesday, but analysts said they saw Europe’s largest economy bouncing back at year’s end. German investors were equally upbeat, with a closely-watched survey showing a sharp jump in morale in November, although respondents questioned after Donald Trump’s shock ...

  Bloomberg Britain may borrow 100 billion pounds ($125 billion) more than previously forecast over the next five years as Brexit hits the economy, according to PricewaterhouseCoopers. The budget deficit is on course to reach 67 billion pounds in the current fiscal year, almost 12 billion pounds more than officials estimated in March, it said in a report published on ...

  Bloomberg Apple Inc. is weighing an expansion into digital glasses, a risky but potentially lucrative area of wearable computing, according to people familiar with the matter. While still in an exploration phase, the device would connect wirelessly to iPhones, show images and other information in the wearer’s field of vision, and may use augmented reality, the people said. They ...

  Relaxnews Facebook had a tool to weed out fake news circulating on the social network this year but declined to deploy it for fear of offending conservatives, a report said. The report by the online news site Gizmodo comes with Facebook under fire for allowing hoaxes and misinformation to go viral and — according to some critics — boost ...