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

  Bangalore / Bloomberg Uber Technologies Inc. and its competitor in India, Ola, have had cars seized this week in the country’s technology capital of Bangalore for allegedly overcharging customers, a city transport official said. More than 30 Uber and Ola vehicles have been impounded, said Rame Gowda, the Bangalore-based commissioner of transport and road safety. He said operations against ...

  New Delhi / AFP India’s biggest IT outsourcing firm Tata Consultancy Services (TCS) says it will challenge $940 million in damages imposed by a US court in an intellectual property theft case. A federal grand jury in the US state of Wisconsin found TCS and its American unit guilty of using data from a US medical software firm without ...

  New Delhi / Bloomberg As Bharti Airtel Ltd. prepares for more competition from the nation’s richest man, the government may be bracing for collateral damage. That’s because India’s largest mobile-phone carrier has bought enough airwaves in the past month to be able to provide 4G services everywhere in the country, reducing Bharti’s need to bid for spectrum in an ...

Bloomberg Global finance ministers and central bankers pledged to step up their efforts to support growth, as chances rise of a broader slowdown and risks including refugee crises and a potential U.K. exit from the European Union threaten the world economy. “Downside risks to the global economic outlook have increased since October, raising the possibility of a more generalized slowdown ...

  AP U.S. factory output dropped in March for the second straight month as manufacturers churned out fewer cars, metal parts and machinery. Yet other recent data suggests that the sector’s long-running malaise could brighten in the coming months. Factory production fell 0.3 percent last month, following a 0.1 percent drop in February, the Federal Reserve said. Those figures suggest ...

Bloomberg Two big firms, JPMorgan Chase & Co. and Goldman Sachs Group Inc., have two pretty divergent opinions about what you should own in the U.S. stock market right now. So far, the dollar is making the difference in who’s right. Custom indexes maintained by both banks give the advantage to Dubravko Lakos-Bujas, the JPMorgan chief U.S. equity strategist who ...

  AP A group representing Amazon indigenous people has urged Brazil’s National Development Bank to stop financing projects that cause environmental damage. After meeting with bank representatives, leaders of the Ecuador-based group known as the Coordinator of Indigenous Organizations of the Amazon Basin said in a statement that they also asked the bank to adopt policies that safeguard the rights ...

  Bloomberg Struggling Brazilian telephone company Oi SA is arguing that its Dutch unit is free to use borrowed funds to lend to the parent company, according to a person with knowledge of the matter. In a response to a creditor lawsuit, Oi said that individual lenders don’t have the right to question the uses of the money they lent ...

  Bloomberg Argentina seeks to end 15 years of financial isolation on Monday when it sets out to borrow cash on international credit markets for the first time since a 2001 default. The country is looking to boost its struggling economy and settle a 15-year lawsuit by US investment funds which its ex-president Cristina Kirchner branded “vultures.” This week’s debt ...

GENEVA / AP Two figures from the main Syrian opposition team to the peace talks in Geneva said that they have rejected a suggestion that was put forward by the UN special envoy to Syria in which President Bashar Assad would stay in power during a transitional period and the opposition would choose three vice presidents. The UN envoy to ...