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

  Bloomberg China’s natural gas production surged to a record last month and coal output rebounded as economic growth accelerated power use in the world’s largest energy user. Natural gas production in March rose 8.2 percent from the average of the first two months of the year to a record 13.6 billion cubic meters, according to data Monday from the ...

  Reuters Iraq plans to build three new plants to process natural gas currently being flared at southern oil fields, and use the fuel for power generation and to increase the nation’s income from energy exports, Oil Minister Jabar al-Luaibi said on Monday. Iraq is forced to flare some of the gas produced alongside crude oil as it lacks the ...

  Bloomberg South Korea’s National Pension Service agreed to restructure 1.55 trillion won ($1.4 billion) of bonds issued by Daewoo Shipbuilding & Marine Engineering Co., helping the world’s largest shipbuilder tide over a payment crisis that had threatened to almost shut the company. An agreement came after Daewoo, the Korea Development Bank and Export-Import Bank of Korea took steps to ...

  Bloomberg Singapore home sales surged to the highest monthly total for nearly four years in March, a month in which the government rolled back some property curbs following a three-year slide in prices. Developers sold 1,780 units in March, the most in a month since June 2013 and more than double the 843 sold in the same period last ...

  Bloomberg Tokyo’s skyline is set to welcome 45 new skyscrapers by the time city hosts the Olympics in 2020, as a surge of buildings planned in the early years of Abenomics near completion. Japan’s capital will see nearly 50 percent more new high-rise space in the next three years than it did in the preceding three, Toyokazu Imazeki, chief ...

  Bloomberg Ant Financial raised its agreed offer for MoneyGram International Inc. by 36 percent as the financial-services company controlled by Chinese billionaire Jack Ma tries to top a competing offer and overcome security concerns. The revised bid is worth $18 a share in cash, up from a previous offer of $13.25, the companies said in a joint statement. The ...

  Bloomberg India, the world’s second-biggest consumer of urea, is boosting production of the crop nutrient seeking to end imports in the next five years. The South Asian nation, where agriculture makes up about 14 percent of the economy, produced 24.5 million tons of urea in the year ended March 2016, compared with consumption of around 32 million tons during ...

  Bloomberg Bain Capital agreed to invest about $816 million in Hugel Inc. to gain control of the South Korea-based maker of beauty products, including botox. Hugel shares rose by the most this year, pacing gains by a rival maker of the anti-wrinkle treatment. Bain will pay 354.7 billion won ($312 million) for 985,217 new shares in Hugel and 100 ...

  Bloomberg Chemical companies are preparing for a potentially disruptive Brexit as the UK withdrawal from the European Union threatens an integrated market underpinning more than 40 billion euros ($42 billion) a year in two-way trade. Marco Mensink, director general of the European Chemical Industry Council representing manufacturers such as BASF SE, Akzo Nobel NV and Dupont Co., said the ...

  Bloomberg Fiat Chrysler Chief Executive Officer Sergio Marchionne is putting his search for a merger on the back burner as he focuses on reaching the Italian-American carmaker’s goal of eliminating debt before he retires in 2019. “We need to be very careful that we don’t start unrealistic dreams about consolidation as we are on our way to achieve historically ...