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

  Bloomberg MuleSoft Inc., the San Francisco-based maker of cloud software, soared in its trading debut after pricing its initial public offering above the marketed share price range. The stock jumped 46 percent to $24.75 at the close in New York, valuing the company at about $3.1 billion. Mulesoft raised $221 million, according to a statement, pricing its shares at ...

  Bloomberg German drugmaker Stada Arzneimittel AG’s biggest problem — its insipid profitability — is making it one of the most hotly coveted assets in a bidding war that’s driven the price to 3.61 billion euros ($3.87 billion). Consortiums of private equity firms including Advent International Corp. and Permira, as well as Cinven Ltd. and Bain Capital, have made offers ...

  Bloomberg British Columbia will exempt some immigrants from a 15 percent home buyers tax in a bid to ensure the Canadian province attracts skilled workers and entrepreneurs. Foreign workers entering the country through a so-called Provincial Nominee Program won’t have to pay the real estate tax. The break will only apply to residents in the Vancouver area. “Our growing ...

  Bloomberg For most of the mining industry, 2017 is turning out to be another good year. The big exception is Lonmin Plc. Investors are losing confidence in the world’s third-largest platinum producer as it burns through cash to stay afloat, just 15 months after raising about $400 million from shareholders. Platinum prices aren’t far from a seven-year low and ...

  Bloomberg Plans to install turbines on platforms that float in the sea are gathering pace as renewable energy developers seek new areas to harvest wind power. Scotland has granted planning permission for as much as 92 megawatts of floating offshore wind capacity, including two separate projects in the past two weeks. In Ireland, the developer Gaelectric Holdings Plc and ...

  Bloomberg State-owned Qatargas has agreed to double volumes of liquefied natural gas (LNG) it supplies to Poland’s gas firm PGNiG to 2 million tonnes per year at a price that may have positive impact on PGNiG’s bottom line, the companies said. The agreement comes as Poland is struggling to reduce its reliance on supplies of Russian gas, while a ...

  Bloomberg Lukoil PJSC returned to profit in the fourth quarter after crude prices rallied. Russia’s No. 2 oil producer reported net income of 46.6 billion rubles ($786 million), compared with a loss of 65 billion rubles a year earlier. That beat the 45 billion-ruble average estimate of seven analysts surveyed by Bloomberg. Revenue held steady at 1.4 trillion rubles. ...

  Bloomberg China home prices rose last month in more cities despite increased restrictions on property transactions by local authorities. New home prices, excluding subsidized housing, gained in February in 56 out of 70 cities tracked by the government, compared with 45 in January, the National Bureau of Statistics said Saturday. Prices climbed in 67 out of 70 cities from ...

  Bloomberg Singapore’s non-oil domestic exports increased at the fastest pace in five years in February, adding to signs of a recovery in the trade-dependent economy. Non-oil domestic exports rose 21.5 percent in February from a year ago, International Enterprise Singapore said in a report. The median estimate of 18 economists surveyed by Bloomberg was a 12.5 percent increase. Electronics ...

  Bloomberg European Union officials are ruling out any discussions with UK Prime Minister Theresa May over a post-Brexit trade deal until she agrees to settle Britain’s financial commitments to the bloc. In a sign the EU is toughening its stance as Britain prepares to trigger two years of negotiations, two European officials familiar with the plan said in the ...