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

  Bloomberg Malaysia’s new central bank governor Muhammad Ibrahim unexpectedly cut interest rates for the first time in seven years, joining Asian counterparts from Indonesia to Taiwan in easing policy as global risks mount. In his second rate-setting meeting since taking office two months ago, Muhammad lowered the overnight policy rate by 25 basis points to 3 percent, a decision ...

  BLOOMBERG Google’s ambitious plan to build a new Silicon Valley headquarters, with soaring glass canopies, crane-like robots and movable walls, was given new life after a big land swap with neighbouring technology giant LinkedIn Corp. However, Google’s designs may not survive in their original form because the local government has new goals for the area that include more residential ...

  BATH / AP A historic general store and tourist attraction in New Hampshire that closed earlier this year is up for auction. The Brick Store in Bath was built in the late 1700s or early 1800s. It closed after several years of financial hardship, and is up for auction on Wednesday. The store is believed to be one of ...

  VIENNA / AP Austria’s Interior Ministry says the government has drawn up a draft law that would dispossess the owner of the house where Adolf Hitler was born. This move follows steadfast refusal by house owner Gerlinde Pommer to sell the empty building in the town of Braunau am Inn on the German border. The government has sought ownership ...

  Bloomberg That China Vanke, along with some undisclosed parties, is considering buying a mystery commercial-property asset from Blackstone may seem cause for concern. Here is a real estate company attempting to fend off a hostile takeover with the help of a state-owned subway operator. Free market proponents may argue that shows just how backward, or opaque, the country’s corporate ...

Bloomberg Two New York City Council committees approved a zoning change that would clear the way for what developers say will be the first primarily office project to be built in Brooklyn in more than a generation. Toby Moskovits’s 25 Kent Ave. won approval from the New York City Council Subcommittee on Zoning and Franchises as well as the Committee ...

  Bloomberg Jorge Perez, the billionaire who helped turn South Florida’s skyline into a beacon for Latin America’s wealthiest, is preparing to hand over his empire. The 66-year-old developer, known as Miami’s “Condo King,” said he hopes his sons Jon Paul and Nicholas will take the reins of the Related Group soon so he can focus more on travel, philanthropy ...

  Bloomberg Steinhoff International Holdings NV agreed to buy UK discount chain Poundland Group Plc for £597 million ($794 million) as the South African company looks beyond Britain’s Brexit vote to further expand its European retail interests. Steinhoff’s cash offer is worth 222 pence a share, about 40 percent more than where the stock was trading before bid speculation sent ...

  Reuters Jarir Marketing, one of Saudi Arabia’s largest retailers by market value, missed analysts’ estimates as it posted a 17 percent fall in second-quarter net profit amid a decrease in sales of computers and office supplies. It made a net profit of 128.5 million riyals ($34.3 million) in the three months to June 30, down from 154.9 million riyals ...

  AFP Indian low-cost airline Go Air signalled its intention to buy 72 AirbusA320neos worth $7.7 billion at list prices, in a major announcement at the Farnborough airshow. The order, worth the equivalent of 6.9 billion euros, takes Go Air’s total order to 144 of the single-aisle fuel-efficient airplanes, Airbus said in a statement. “The new A320neo provide us the ...