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

  Voters in Washington state will be asked next month whether they want to adopt the nation’s first carbon tax — a powerful way to curb greenhouse-gas emissions. You’d think environmental groups would be doing everything they can to back that idea. You’d be wrong. THE COST OF CARBON Initiative 732 will be on the ballot on Election Day. It ...

After four months of Brexit, a new chapter unfolds on Monday as British Prime Minister Theresa May meets with the first ministers from Scotland, Wales and Northern Ireland. The meeting would be crucial as the leaders seek to lay out a roadmap for departure from the EU. The meeting of Joint Ministerial Committee (JME) would be the first since December ...

  DUBAI / Reuters Major stock markets in the Gulf rose on Sunday with Saudi Arabia outperforming its peers, continuing to climb on the back of upbeat investor sentiment following the mammoth international bond sale at the end of last week. Egypt’s index slipped on profit taking. Riyadh’s index added a further 1.6 percent, taking its gains since Wednesday to ...

  Bloomberg Canadian stocks extended their rally to a fifth day on Saturday, closing with the biggest weekly gain since March, energy shares continued to ride the rebound in oil and banks advanced on signs that inflation is picking up, making an interest rate hike more likely. The S&P/TSX Composite Index gained 0.6 percent to 14,939.04 at 4 p.m. in ...

  Bloomberg Russia’s energy minister met with counterparts from Saudi Arabia and other Arab Gulf oil-producers to discuss steps to stabilize crude markets amid OPEC’s drive to win cooperation from the biggest supplier outside the group in limiting output to prop up prices. Ministers from Saudi Arabia, Kuwait, Bahrain, Qatar and the United Arab Emirates gathered in Riyadh for oil ...

  Reuters Petrochemicals giant Sabic is scouting for more overseas ventures to ease its dependence on domestic Saudi Arabian natural gas as it pushes ahead with its largest foreign investment with U.S. partner Exxon Mobil. “We do have projects that we evaluate with our existing partners or potential partners… We are a global company, we have the capability to start ...

  Bloomberg Brazil’s state-run oil company Petroleo Brasileiro SA settled four lawsuits brought by investors including Pacific Investment Management Co. after the nation’s biggest-ever corruption case torpedoed the company’s market value. Petrobras’ board approved agreements with Pimco Total Return Fund, Janus Overseas Fund, Dodge & Cox International Stock Fund and Al Shams Investments, according to a statement filed with Brazil’s ...

  Emirates Business Preferred Hotels & Resorts, the world’s largest global provider of sales, marketing and distribution services to independent luxury hotels, continues to expand its Middle East portfolio with the addition of two new five-star hotels in the Kingdom of Saudi Arabia and another five-star hotel in the Kingdom of Bahrain. The three additions consist of a duo of ...

  Jakarta / AFP Apple is battling to gain a foothold in Indonesia after nationalistic regulations hit the US tech giant’s efforts to compete in the booming emerging market against Samsung and other rivals. The iPhone 6S and 7 are yet to be released in Southeast Asia’s top economy as Apple struggles to fulfil requirements that phone makers must have ...

  Beijing / AFP Asian lenders are spending millions of dollars developing applications using blockchain, a technology that promises to slash transaction costs, expedite cross-border payments and reduce the risk of fraud. Banks active in the region from Standard Chartered Plc to National Australia Bank Ltd. have in recent months started developing and testing systems utilizing the distributed-ledger technology in ...