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

  Bloomberg Oil rebounded from its longest losing streak in two months as uncertainty over an OPEC output deal amid growing US crude stockpiles and the upcoming American election kept markets volatile. US inventories rose by a record last week, and OPEC members claiming exemption from an agreement to limit supplies boosted production in October. While the stockpile gain was ...

  Doha / AFP Qatar’s population has passed the 2.6 million mark as the emirate draws in thousands of workers to build the infrastructure for the 2022 football World Cup, official figures showed Wednesday. The tiny Gulf state has seen a more than four-fold increase in its population since 2000 as oil and gas revenues have fuelled a rapid economic ...

  Reuters Iran’s carpet makers are distancing themselves from their government in promoting their handmade work as they seek to regain valuable US sales and protect jobs following the removal of economic sanctions. “Iranian carpets are produced by female and male weavers who are managed by the private sector, so the government does not have a big influence,” Hamid Kargar, ...

  Bloomberg Global oil majors BP Plc and Rosneft PJSC are eyeing a piece of India’s $117 billion retail market for fossil fuels, threatening to shake up government-owned companies that have faced little competition for a decade. BP has already secured licenses to open as many as 3,500 fuel stations in the world’s second most-populous nation. Rosneft gained access to ...

  Bloomberg China United Network Communications and Baidu Inc. agreed to collaborate on areas ranging from mobile internet to artificial intelligence amid government plans for ownership reform of state-owned enterprises. China United Network, the state-owned parent of Hong Kong-listed China Unicom Hong Kong Ltd., said on Wednesday it will cooperate with Baidu including on big data and basic telecommunication services. ...

  Bloomberg Marriott International Inc., the world’s biggest hotel operator, is betting its future in Asia on the growth of leisure tourism, particularly from China. “We look at the long term and we feel very bullish,” Craig Smith, Marriott’s Asia-Pacific president and managing director, said in an interview in Sydney. The company plans to more than double its number of ...

  Bloomberg Tata Sons Ltd., reversing course after ousting Chairman Cyrus Mistry, plans to seek Indian approval to pay $1.17 billion to estranged partner NTT Docomo Inc. as it looks for an amicable solution to their legal tussle, people with knowledge of the matter said. Ratan Tata, who suddenly returned to the helm of India’s largest conglomerate last week, has ...

  Bloomberg South Korea’s government said it will take steps to ease overheating property markets in Seoul, Sejong, and some areas in Gyeonggi and Busan. Finance Minister Yoo Il-ho said the government will limit resale of rights to buy new apartments and strengthen bidding requirements for new apartments in the regions, while monitoring markets and designating anti-speculation property zones if ...

  Reuters Egypt’s blue chip equities index jumped on Thursday after the central bank floated the currency, a step which could eventually resolve its hard currency shortage, while Saudi Arabia gained for a second straight week. The Egyptian EGX30 index soared as much as 8.4 percent in the first hour of trade after the central bank devalued the pound by ...

  FRANKFURT/ AP Global stock markets were mixed on Thursday, bogged down by concerns over the outcome of next week’s US presidential election. The British pound jumped after a court ruled that parliament must vote before the government can trigger a two-year countdown to Britain’s exit from the European Union. KEEPING SCORE: In Europe, Germany’s DAX rose 0.1 percent to ...