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

WASHINGTON How many times have you heard that Americans’ wages have stagnated? Countless commentators (including me) have repeated this complaint. Naturally, politicians of both parties — Hillary Clinton and Donald Trump — deplore it. It’s conventional wisdom that wage stagnation has contributed to the sluggish recovery and the downcast attitudes of millions. But what if it’s not true? A new ...

  The same tragic drowning scenario at the Mediterranean Sea keeps recurring as the illegal migrant flow continues unabated from sub-Saharan Africa to Libya, where they take perilous journeys using dilapidated dinghies to get into Europe but at a price. On Wednesday, the Italian navy captured the chilling images of a heavily overcrowded boat overturning off Libya, leaving at least ...

  Narayana Kocherlakota The Federal Reserve’s track record of economic forecasting is a lot better than many observers recognize. It might also offer some insight into the central bank’s approach to managing the recovery. Criticism of the Fed’s forecasting has focused largely on its failure to recognize, as late as mid-2008, the depth and persistence of the recession that the ...

  The share of Germany’s electricity generated from renewable sources has tripled during the past decade, to 30.1 percent. That’s impressive, especially when compared with what has happened in the U.S. On the other hand, the percentage of Germany’s electricity generated by burning coal isn’t all that much lower than it was a decade ago, and is higher than it ...

  The International Monetary Fund and European finance ministers hailed their new agreement on Greece as a “major breakthrough.” In reality, it’s the beginning of a permanent fudge designed to make the intractable Greek problem a political non-issue for Greece’s EU partners and reduce the financial and reputational risk for the IMF. It’s the equivalent of canceling visitation hours for ...

  The existing world order, led by the United States, is one whose aims include collective security, the protection of human rights, promoting negotiation and diplomacy, and improving global welfare. These ideals have been consistent from the League of Nations to goals of the United Nations (UN). Keeping consistent with these aims, we should take a humanist approach when viewing ...

  BLOOMBERG Crude surpassed $50 a barrel for the first time in six months amid signs the global supply glut is coming to an end, buoying currencies where oil is produced. U.S. stocks fluctuated after a two-day rally. A drop in U.S. stockpiles and shrinking output in Nigeria and Venezuela contributed to the gains in Brent, which is up more ...

  DUBAI / Reuters Thursday, but helped carry Dubai’s index higher for a fourth session. Other markets were mixed. The Riyadh index failed to hold on to earlier gains as investors booked profits, snapping two days of gains. Although petrochemical shares remained resilient, with the sub-index advancing 0.3%, it closed 49 points below its intra-day high, a sign that investors ...

  Kuala Lumpur / Bloomberg AirAsia Bhd., Southeast Asia’s biggest budget carrier, reported an almost sixfold jump in quarterly profit amid plans to expand its fleet in a region projected to surpass the US as the world’s biggest air-travel market in two decades, led by China. The Sepang, Malaysia-based company said net income in the quarter through March climbed to ...

  Washington / AFP The sun-powered Solar Impulse 2 aircraft landed in the US state of Pennsylvania, completing the latest leg of a record-breaking flight around the world to promote renewable energy. After taking off from Dayton, Ohio early Wednesday, the plane piloted by Swiss explorer Bertrand Piccard arrived at 8:49 pm (0049 GMT Thursday) at Lehigh Valley International Airport after ...