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

  Bloomberg Scottish First Minister Nicola Sturgeon said her government started work on legislation for a new referendum on independence after the UK. as a whole decided to quit the European Union while Scotland voted to remain. Speaking after an emergency meeting of her cabinet in Edinburgh on Saturday, Sturgeon said she will also be seeking talks with European leaders ...

  NEW DELHI / AP India expressed disappointment on Sunday with China for raising procedural hurdles to the South Asian country joining the 48-nation group controlling access to sensitive nuclear technology. Its membership application was not approved at the Nuclear Suppliers Group meeting last week in Seoul, South Korea, and External Affairs Ministry spokesman Vikas Swarup said that from India’s ...

  Gaza City / AFP In her modest home in the Gaza Strip, Sahar Sherif’s family watches as she ladles out a broth of meat and vegetables for a rare heart-warming meal. For just a month of the year, a soup kitchen in the Palestinian enclave is offering struggling families like Sherif’s a welcome break from daily worries about where ...

  Ankara / AFP Turkey has condemned as “very unfortunate” Pope Francis’s declaration that the mass killings of Armenians a century ago by Ottoman forces amounted to a genocide, saying it bore traces of “the mentality of the Crusades.” “It is not an objective statement that conforms with reality,” Deputy Prime Minister Nurettin Canlikli said late on Saturday, quoted by ...

  WASHINGTON On June 1, the Organization for Economic Cooperation and Development issued its latest economic forecasts. In 2016, it predicted that the world economy would grow 3 percent, the United Kingdom 1.7 percent and the euro area (the 19 countries using the euro) 1.6 percent. We don’t know how these figures will now be revised, but we do know ...

  Sunday was the day for festivities and pride in Panama as people there marked the inauguration of newly expanded multibillion dollar Panama Canal that will link the Atlantic and the Pacific Oceans and boost the regional and international trade. Currently, some 5 percent of global maritime commercial traffic uses this strategic waterway, which provides a valuable shortcut between North ...

  Mohamed A. El-Erian As global financial markets convulse in response to British citizens voting to leave the European Union, the stunning outcome of the U.K.’s referendum provides more questions than answers. As discussed on Monday, the heightened uncertainty, fueled by sudden institutional instability now compounding long-standing economic fragility and financial fluidity, is likely to cause an unprecedented mix of ...

The United Kingdom’s exit from the European Union is creating a lot of losers: London’s finance industry. British Prime Minister David Cameron. The pound. The grand cause of European integration. But out of all of the market turmoil and uncertainty will emerge at least one big winner: China. In the short term, of course, China’s struggling economy may take a ...

  Emirates Business Increased internet penetration in the Arab World has led to a jump in the GCC region’s online ad spending for this year with internet ads in the GCC set to grow 20 per cent in 2017, according to a market research report recently launched by Orient Planet Research, an Orient Planet Group venture. The report, entitled, ‘GCC ...

  Dubai / Emirates Business Jumeirah Golf Estates, the leading residential golf community, announced that Phase 1 of its Redwood Park development has officially sold out to a mix of local and international buyers. As Jumeirah Golf Estates continues its ambitious growth plans and international sales drive, also reported that buyer confidence in the community of modern townhouses – overlooking ...