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

  DUBAI / WAM Dubai’s master developer Nakheel on Tuesday announced that it has awarded an AED1.5 billion construction contract for its Al Khail Avenue mall, and said it plans to add a 252-room hotel to the retail hub. The contract to build the billion retail, dining and entertainment complex in Dubai’s Jumeirah Village district was awarded to the UAE-based ...

  DUBAI / WAM Officials from the Department of Economic Development (DED) in Dubai have held a meeting with seven major vehicle dealers in Dubai to discuss the establishment of Consumer Protection counters in car showrooms. The dealers were briefed on guidelines regarding the counters and the need for establishing them by the beginning of 2017. The Consumer Protection counter ...

  Like shipwrecked mariners clinging to a floating mast, many Republicans rationalize supporting Donald Trump because of “the court.” This two-word incantation means: Because we care so much for the Constitution, it is supremely important to entrust to Trump the making of Supreme Court nominations. Well. In a Republican candidates debate, Trump complained that Ted Cruz had criticized Trump’s sister, ...

  Citigroup has carved out an an improbable niche, given its history of receiving the most federal aid among banks in the wake of the 2008 financial crisis. The bank, which already has the most derivatives of any of its U.S. rivals, has been buying credit-default swaps from its European rivals, which are under growing pressure to quickly cut holdings ...

  Wall Street threw in the towel on Tesla Motors this week. Sort of, anyway. Analysts’ consensus forecast for Tesla’s earnings per share in 2016 finally slipped into the red this week. A few cuts in the wake of Wednesday’s second-quarter results took the estimate from a profit of about 23 cents to a loss of about 65 cents, according ...

  Turkish President Recep Tayyip Erdogan arrived Russia on Tuesday for his first meeting with counterpart Vladimir Putin since the two strongmen began healing a bitter feud over Ankara’s downing of a Russian warplane last November. The shooting down of a Russian jet saw a furious Putin slap economic sanctions on Turkey and launch a bitter war of words. Putin ...

  Bloomberg Emerging-market stocks and currencies advanced for a fourth day as narrowing Chinese factory deflation signaled the world’s second-largest economy is stabilizing. Indian bonds rallied after the central bank said it’s keeping accommodative policy. Raw-material producers touched a 13-month high paced by South Korean steelmaker Posco, while stocks in the Philippines rose for a second day. Data out of ...

DUBAI / Reuters Qatar’s main stock index outperformed its peers in early trade on Tuesday as emerging market funds continue to hunt for bargains there. Doha’s main index rose 0.7 percent as 11 of the 12 Qatari shares that are members of the MSCI emerging market index advanced. Petrochemical conglomerate Industries Qatar was up 2.2 percent and Qatar National Bank ...

  DUBAI / Reuters Gulf stock markets may have a firm tone as emerging market funds continue to hunt for bargains. Bank of America Merrill Lynch data released at the end of last week noted investors’ search for yield had led to the largest five-week inflow on record to emerging market debt funds and the longest inflow streak to equity ...

  Saint Petersburg / AFP Russian President Vladimir Putin and Turkish counterpart Recep Tayyip Erdogan on Tuesday looked to rebuild ties as they met for the first time since Ankara downed one of Moscow’s warplanes in November. Erdogan’s visit to Putin’s hometown of Saint Petersburg is also his first foreign trip since the failed coup against him last month that ...