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

Both Hillary Clinton and Donald Trump have propelled their campaigns in part by appealing to globalization’s losers. The blue-collar American workers who have seen wages shrink and jobs disappear offshore have responded strongly to Trump’s China-bashing and Clinton’s newfound suspicions about free trade. Free Trade Feud The reality, though, is that neither candidate is going to bring manufacturing jobs back ...

  BLOOMBERG The dollar and stocks worldwide climbed, as investors awaited additional clues on the health of the global economy amid speculation higher interest rates in the U.S. may come as soon as July. The pound and oil gained. The U.S. currency touched its strongest level since March against the euro, while Australia’s dollar and South Korea’s won posted the ...

  Bloomberg Insurers have had about enough of hedge funds. Stung by market-trailing returns, the industry in the U.S. is reversing course after more than doubling its hedge fund allocation over five years, to $17.7 billion as of Dec. 31, according to data from the National Association of Insurance Commissioners. Just this month, American International Group Inc. said it submitted ...

  Dubai / Reuters Most Gulf stock markets rose on Tuesday but trading volumes were small as some investors stayed away because of the approach of the holy month of Ramadan and summer holidays, when activity tends to decrease in some bourses. Dubai’s index spent most of the day little changed but closed 1.0 percent higher after a surge in ...

  Singapore / Bloomberg Empty storefronts in Singapore’s prime shopping district may become a more common sight. Vacancies in the city’s main Orchard Road area, a magnet for tourists lured by malls and Japanese department stores such as Takashimaya, have risen to a five-year high and across the island, they’ve soared to the highest since 2009. As economies around the ...

  Shanghai / Bloomberg Xiaomi Corp., the Chinese smartphone maker that challenged Apple Inc. with sleek designs and low prices, is planning to introduce its first drone at a price more than 20 percent below a comparable product from market leader SZ DJI Technology Co., according to a person with direct knowledge of the matter. The drone, made by FIMI ...

  New Delhi / Bloomberg India’s Foreign Investment Promotion Board has ruled Apple Inc. must comply with local sourcing rules to sell products through its own retail stores, according to people with direct knowledge of matter, a setback to the iPhone maker’s plans to open retail outlets in the country. The FIPB has cleared Apple’s application to open retail stores ...

  Washington / AFP A solar-powered plane set to fly from Ohio to Pennsylvania on Tuesday delayed its departure to inspect possible damage due to a mishap, organizers said. The Solar Impulse 2, set to be piloted by Swiss national Bertrand Piccard, was scheduled to fly out of Dayton International Airport and head to Lehigh Valley International Airport near the city ...

  Mumbai / Bloomberg The Indian operators of Domino’s Pizza Inc. and McDonald’s Corp. dropped after a local research agency said that burger and pizza bread sold at the fast-food outlets contained cancer-causing chemicals. Jubilant Foodworks Ltd., a licensee of Domino’s, headed for a three-month low, while WestLife Development Ltd., which runs McDonald’s restaurants in western and southern India, slid ...

  ALKESH SHARMA / Emirates Business Middle East corporate sector needs to overhaul its in-house strategic planning activities and adopt the best practices to float smoothly even during crisis situation. Moreover, a stout strategic planning in place could capably address the recurring resilience concerns among the enterprises. Survey reports say that over 73 percent of the Middle East enterprises put ...