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

  AFP Kuwait will issue billions of dollars worth of bonds in international markets to finance a budget deficit resulting from low oil prices, a report said Saturday. Finance Minister Anas al-Saleh said Kuwait will issue US dollar-denominated sovereign bonds of up to $9.6 billion during the 2016/2017 fiscal year which ends March 31, Al-Qabas newspaper reported. This comes on ...

  Bloomberg The Libyan Investment Authority tried to resurrect its lawsuit against Goldman Sachs Group Inc. by adding new accusations of bribery, less than a month after a crushing courtroom defeat in London. But Judge Vivien Rose said at a hearing that the appeal had no chance of success and ordered the sovereign wealth fund to pay Goldman at least ...

  Bloomberg After emerging this week from one of the largest-ever energy-industry debt restructurings, Pacific Exploration & Production Corp. has a new ticker on the Toronto stock exchange and a new mantra: discipline. The oil and gas producer will target profit rather than growing production at all costs, and limit its geographic focus to Colombia and Peru after divesting assets ...

  Bloomberg Oil capped the biggest weekly loss in almost 10 months as hopes faded that OPEC will be able to implement a promised deal to cut production and ease global oversupplies. Futures dropped 1.3 percent in New York, bringing the six-session decline to 11 percent. Prices closed Thursday at the lowest level since OPEC reached a preliminary accord in ...

  Bloomberg India has backed a multi-tier national tax regime that even in its not-so-perfect form will be a game-changer for Prime Minister Narendra Modi, who is trying to revive manufacturing and boost foreign investment in the world’s fastest growing major economy. Moving away from the ‘one market, one rate’ tax model, the Goods and Services Tax Council decided on ...

  Bloomberg China’s drive to reduce overcapacity and streamline its coal industry has sent prices of the bulk commodity soaring. Efforts initially aimed at reversing a four-year collapse and help miners repay debts have pushed coal higher and faster than anyone anticipated. The fuel burned in power stations has doubled, while the coal used in steel making has more than ...

  AFP Ousted Thai PM Yingluck Shinawatra doled out sacks of rice to hundreds of star-struck shoppers on Saturday, in her latest move to outshine junta efforts to support farmers hit by a price plunge. Tumbling rice prices have spread anguish across Thailand’s rural heartlands and sent the junta scrambling to roll out rescue packages and head off potential unrest. ...

  AP Even for a city considered one of the world’s most polluted, the Indian capital hit a new low this past week. Air so dirty you can taste and smell it; a gray haze that makes a gentle stroll a serious health hazard. According to one advocacy group, government data shows that the smog that enveloped New Delhi was ...

  Bloomberg NetSuite Inc. shareholders endorsed Oracle Corp.’s bid for the software provider, clearing the path for the $9 billion acquisition after weeks of conflict between a large investor and executives over the price tag. The deal received approval from 53 percent, or 21.78 million shares, of NetSuite stockholders that were eligible to endorse the bid, Oracle said in a ...

  Bloomberg Nestle SA’s health unit is investing $145 million for a 15 percent stake in Aimmune Therapeutics Inc., a California maker of food-allergy therapies. Nestle Health Science, a subsidiary of the Swiss food giant, will pay $19.20 a share for about 7.55 million newly issued shares of Aimmune, and the unit’s Chief Executive Officer Greg Behar will join the ...