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

  Bloomberg America Movil SAB, the Latin American wireless carrier controlled by billionaire Carlos Slim, sank to a seven-year low after reporting disappointing profit with its Mexican unit under siege from competitors and regulators. Earnings before interest, taxes, depreciation and amortization fell 11 percent from a year earlier to 61 billion pesos ($3.23 billion), the Mexico City-based company said Thursday ...

  Bloomberg Technology billionaires are making a run for the top of the global wealth rankings as surges for Facebook Inc., Amazon.com Inc. and Google parent Alphabet Inc. added $5.6 billion to their founders’ fortunes this week. Google co-founders Larry Page and Sergey Brin gained a combined $2.7 billion after the search engine’s ad business reported a growing user base ...

  Emirates Business Uber Technologies Inc. can’t require a Connecticut customer accusing the company of price-fixing to resolve the fight in arbitration, a federal judge ruled in one of several cases challenging the ride-hailing company’s efforts to steer disputes of all kinds away from public courtrooms. U.S. District Judge Jed Rakoff in Manhattan said Friday that Uber’s online user agreement ...

  Cologne / AFP Tens of thousands of supporters of Turkish President Recep Tayyip Erdogan rallied in the German city of Cologne on Sunday as tensions over Turkey’s failed coup put authorities on edge. Waving the Turkish flag and chanting “Turkey”, the demonstrators turned the rally site next to the River Rhine into a sea of red as they began ...

  Ankara / AFP Turkey’s government on Sunday dismissed nearly 1,400 military personnel, including a top aide to President Recep Tayyip Erdogan, in the latest round of a sweeping purge following a failed coup. The announcement in the official gazette came as Erdogan sought to tighten his grip over the country by bringing the armed forces and spy agency under his ...

  Ankara / AFP The United States must extradite Islamic preacher Fethullah Gulen to Turkey to remove any suspicion that Washington was involved in the failed July 15 coup, the mayor of Ankara Melih Gokcek said. Gokcek, mayor for over 22 years and one of the most senior figures in the ruling Justice and Development Party (AKP) of President Recep Tayyip ...

  Washington / AFP Washington has warned that those who perpetrate atrocities in South Sudan’s civil war will be held responsible for their crimes. The United States served as a midwife in the creation of the South Sudan, formed in July 2011 by partitioning Sudan. But South Sudan descended into war in December 2013, and a peace deal signed last year ...

  Kuwait City / AFP The Yemeni government said Sunday it has accepted a UN-proposed peace agreement to end more than a year of armed conflict, but there has been no word from the rebels. The announcement by the Saudi-backed government came after a high-level meeting in Kuwait’s capital chaired by Yemen’s President Aberabbo Mansour Hadi. “The meeting approved the draft ...

  Bloomberg Russia’s economy contracted the least since it slipped into recession at the start of last year as industry and farming added to oil’s biggest quarterly gain since 2009 to steady the world’s biggest energy exporter. Gross domestic product shrank 0.6 percent in the second quarter from a year earlier after a decline of 1.2 percent in the previous ...

  DUBAI / Reuters Stock markets in the Gulf were soft in early trade on Sunday, weighed down by weak oil prices and a lacklustre set of second-quarter corporate results. Riyadh’s stock index lost 0.2 percent after 40 minutes of trade as the petrochemical sector dropped 0.4 percent. The September Brent oil contract settled at $42.46 a barrel on Friday, ...