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

  Bloomberg French growth rebounded in the third quarter as part of a start-stop expansion that leaves Europe’s second-largest economy lagging its neighbors such as Spain. Gross domestic product in France expanded 0.2 percent in the three months through September after shrinking 0.1 percent in the previous period, national statistics office Insee said. That compares with a 0.3 percent increase ...

  Bloomberg General Electric Co. has no intention of letting its 3-D printing ambitions die. A day after shareholder resistance derailed an acquisition in that market, GE said it would buy a 75 percent stake in closely held Concept Laser GmbH for $599 million. At the same time, GE bumped up the offer for Swedish 3D printing company Arcam AB ...

  Bloomberg Saudi Arabian stocks rose the most among Gulf equities, extending their longest winning streak in more than two years on investor optimism the outlook for the kingdom’s banks is improving. Three of the five biggest contributors to an increase in the Tadawul All Share Index were lenders, as the main gauge added 0.7 percent at the close in ...

  Bloomberg OPEC’s internal disagreements over how to implement oil-supply cuts agreed to last month prevented a deal to secure the cooperation of other major suppliers. More than 18 hours of talks over two days in Vienna yielded little more than a promise that the world’s largest oil producers would keep on talking. Discussions will continue in late November, just ...

  Reuters Container shipping firm Islamic Republic of Iran Shipping Lines (IRISL) expects to have regained by the middle of next year the business lost while Iran was subject to international sanctions, its chairman said. International sanctions were lifted in January following an agreement with world powers on Tehran’s disputed nuclear programme. “Step by step the problems have been resolved ...

  Bloomberg Egypt has reached a $2.7 billion currency swap agreement with China, moving closer to mustering the outside financing needed to win final approval of a $12 billion International Monetary Fund loan. The agreement is being processed by the Chinese authorities, an Egyptian central bank official said Sunday, speaking on condition of anonymity. The official didn’t provide additional details ...

  Reuters Hyundai Engineering and Construction signed a contract to build a project for Saudi Aramco’s Uthmaniyah plant for 833.10 billion won ($727 million), the South Korean company said. Hyundai expects the contract to be completed by Nov. 26 2019, it said in a statement. Sources told Reuters on Thursday that Hyundai had won the deal after offering discounts to ...

  Luanda / AFP Angolan state-owned oil company Sonangol rode the commodities boom that drove the country’s extraordinary growth after civil war ended in 2002, but today it symbolises a national economic crisis. The Luanda-based company has increasingly been in focus since Isabel dos Santos, the billionaire daughter of long-time President Jose Eduardo dos Santos, was appointed CEO in June. ...

  Qayyarah / AFP Iraqi paramilitary forces battled the IS group southwest of Mosul on Sunday, the second day of an operation to cut extremist supply lines between the city and neighbouring Syria. Tens of thousands of Iraqi troops and Kurdish peshmerga fighters have been advancing on Mosul from the north, east and south after the launch on October 17 of ...

  Istanbul / AFP Turkish authorities have fired over 10,000 additional civil servants as the government presses a crackdown over the failed July coup, the official gazette said. A total of 10,131 government employees were removed, mainly from the education, justice and health ministries, according to announcements published late on Saturday. The government also announced the closure of 15 pro-Kurdish and ...