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

  With the U.K. set to vote on European Union membership in less than a month, economists, politicians and pundits are endlessly debating how an EU exit would affect the country’s economy. However, for many families, the types of figures being thrown about — which can run to the billions of pounds — may seem abstract and remote from their ...

  Anthony Kleven SPECIAL TO EMIRATES BUSINESS As the United States hosted the 7th Clean Energy Ministerial in San Francisco on June 1-2, the Obama administration sought to demonstrate global leadership on green energy and climate change. Those efforts, however, are being undercut by GOP presidential nominee Donald Trump and Republicans in Congress. Just a few days before the meetings ...

  Bloomberg The European Union will push back the completion of collateral rules for the multi-trillion-dollar swap market to the end of the year, breaking with US authorities who have set a September deadline for the biggest banks to comply. The European Commission, the EU’s executive arm, won’t be able to meet the deadline adopted by the US — and ...

  Bloomberg Peru kept borrowing costs unchanged after four increases in the past year as slowing inflation and a stronger sol give policy makers room to bolster growth. The central bank board, led by bank President Julio Velarde, held the key rate at 4.25 percent for a fourth consecutive month, matching the forecast of 11 of 12 economists surveyed. One ...

  Bloomberg Deutsche Bank AG and Credit Suisse Group AG may have to raise more capital because of the need to resolve US claims over the sale of mortgage-backed securities before the financial crisis, Barclays said as it downgraded the two banks. Deutsche Bank may face settlement payments of as much as US$4.5 billion, while Credit Suisse may have to ...

  Bloomberg Even in Asia’s cutthroat world of wealth management, the news of a mass defection at RBS Coutts, venerable bankers to the British royals, came as a shock. Lenders battered by the financial crisis were fighting for Asia veterans who could bring the lucrative accounts of the region’s growing ranks of millionaires, and Coutts rainmaker, Hanspeter Brunner, had jumped ...

  Our Correspondent / Emirates Business 2XL Furniture & Home Decor is a retailer of luxury home furnishings in the UAE since 2000. The retailer currently has 6 showrooms across Abu Dhabi, Dubai, Sharjah and Al Ain, with plans of opening two more stores in the near future (one in the Mushrif residential area in Abu Dhabi, and the other ...

  Our Correspondent EMIRATES BUSINESS With over 60 years of High Street fashion retailing experience, River Island is renowned for stylish and affordable fashion. River Island brand manifesto is to be fun, fresh, confident, stylish and distinctive, and the unique touches the brand brings collections that allow it to stand out from the rest of the British High Street. With ...

  Beijing / Bloomberg The International Monetary Fund’s No. 2 official urged China to take immediate steps to tackle rising corporate debt or risk “dangerous detours” during the country’s transition to a consumption-oriented economy. “Corporate debt remains a serious — and growing — problem that must be addressed immediately and with a commitment to serious reforms,” David Lipton, the IMF’s ...

  New Delhi / Bloomberg India’s Home Ministry has rejected Google’s plan to include photography of the country’s roads, tourist attractions, rivers and mountains in its free Street View mapping service. A panel consisting of security agencies and defense forces concluded Alphabet Inc.’s Google could not offer the 360-degree imagery to users due to security concerns, said a government official ...