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

Bloomberg Oil traded near $50 a barrel in New York as U.S. producers increased drilling and OPEC nations added supply, threatening to compound a global surplus. Futures were little changed after slipping 0.2 percent Friday. Output from OPEC member Libya expanded to 560,000 barrels a day, according to National Oil Corp., up from 540,000 last week, while Iran repeated plans ...

  Reuters Kuwait National Petroleum Co (KNPC) expects to finalise a loan of well over $5 billion to finance its Clean Fuels project by the end of the first quarter of next year, sources involved in the project said. The state-owned refiner had originally said it planned to complete the fundraising, one of the world’s largest-ever loans backed by export ...

  Reuters Saudi Oger has begun talks with potential buyers for its 20.93 percent stake in Arab Bank in a deal that could raise about $1 billion for the embattled construction giant, sources aware of the matter said. Oger was one of two large Saudi contractors charged with implementing the kingdom’s grand infrastructure plans before the fall in oil prices ...

  Bloomberg The UK dropped out of businesses’ top five locations for investments for the first time in seven years as fears about the country’s plans to exit the European Union added complexity to international deals, consultants Ernst & Young LLP said in a survey of executives. British businesses rank behind investments in the US, China, Germany, Canada and France, ...

  TOKYO / AP US electric car maker Tesla says it plans to start working with Japanese electronics company Panasonic Corp. on solar energy. Tesla’s said on its corporate blog Monday that the companies have signed a non-binding letter of intent to begin collaborating on Panasonic’s production of photovoltaic cells and modules at a facility under construction by San Mateo, ...

  Bloomberg Manhattan rents decreased in September, marking only the second time since February 2014 that median rents for the borough fell from a year earlier. That’s great if you’re single and earning $100,000 a year, or part of a household that spends $100,000 a year on rent. For everybody else in New York, the new rental market data, published ...

  Bloomberg Rebiotix Inc., a closely held biotechnology company, said its drug that restores beneficial gut bacteria was better than a placebo at keeping life-threatening intestinal infections from recurring in a human trial. Recurrences of infections with Clostridium difficile, a potentially deadly microbe that often attacks sick, hospitalized patients, were prevented in 63.9 percent of people who took the drug, ...

  Frankfurt / AFP There will still be more books than you could ever read, but visitors to this week’s Frankfurt Book Fair will also be invited to don virtual reality goggles, visit an interactive classroom and discover 3D-printed art as publishers plug into new technology. Organisers of the world’s largest publishing event say the focus on art and technology ...

  Bloomberg Britain’s heating season has started with a bang, as natural gas contracts reverse a two-year slump. Gas for next-day delivery in the UK is on its longest rising streak since at least 2007, when records of broker data compiled by Bloomberg began. The contract has added 23 percent this month, after rising 52 percent in September in the ...

Many of the prominent Conservative Party politicians who led the “leave” campaign in Britain’s referendum on the European Union did so with good intentions. They argued that leaving the EU would allow Britain to escape growth-shackling European policies, freeing markets both internally and externally. It is on this basis that “Economists for Brexit” predicted a Brexit boost of up to ...