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

  Bloomberg Johnson & Johnson agreed to buy Actelion Ltd. for $30 billion and spin off the Swiss drugmaker’s research and development operations, clinching its largest deal ever to become a leader in medicines for a rare type of high blood pressure. J&J, already the world’s biggest maker of health-care products, is fulfilling its goal of gaining a new drug ...

  Bloomberg To convince investors to finance a pan-European war against Uber Technologies Inc., a French ride-hailing app 50 times smaller has a one-word pitch: profit. Chauffeur-Prive is near closing a 50-million-euro ($53 million) fundraising round to expand out of Paris into the rest of Europe, with the promise it can extend a five-year streak of growth while turning a ...

  Bloomberg Fiat Chrysler Automobiles NV expects debt to fall by at least 45 percent this year as the Italian-American carmaker enters the final stretch of a plan to turn liabilities into cash by selling more expensive autos. The stock jumped. Net industrial debt will narrow to less than 2.5 billion euros ($2.7 billion) this year from 4.6 billion euros ...

  Bloomberg Apple Inc. results next week will likely show iPhone sales growing again, bucking a year of declines. That’s the good news. The bad news: The average selling price of the handsets in the key holiday quarter ending in late December may show customers settling for older iPhone 6S models, rather than the iPhone 7, introduced in September, according ...

  Bloomberg India’s biggest solar power project has stalled as the state which sought bids from generators says it can’t buy the energy at prices it had agreed upon. Winning developers in India’s Jharkhand state are still waiting to sign power purchase agreements almost a year after the tender. In March, Jharkhand awarded contracts to build 1.2 gigawatts of solar. ...

  Bloomberg Libya is pumping 715,000 barrels a day of oil, the most since 2014, and is on track to keep boosting output this year as the country restores much of the production lost amid political chaos and conflict, the state oil company’s chairman said. Blockades at the North African state’s main oil ports have ended, and output may reach ...

  Reuters Saudi Arabian construction firm Abdullah Abdul Mohsin al-Khodari and Sons said that the total value of its delayed work as of Dec. 31 last year was 312.7 million riyals ($83.4 million), a slight improvement from the previous quarter. As builders in the kingdom rely on the government for most of their contracts they’ve suffered as the pace of ...

  Bloomberg Global oil demand will keep growing into the 2040s due to higher consumption of plastic goods even as the electric vehicle fleet expands rapidly and technology revolutionises transport, BP said in its annual Energy Outlook on Wednesday. The forecast of sustained demand growth for the fossil fuel comes as other oil companies such as Royal Dutch Shell brace ...

  Bloomberg Yes, you heard it right — Singapore’s home prices are set to make a comeback after a three-year losing streak. And analysts think property developer stocks are the best way to play that rebound. Amid a restructuring push to boost a slowing economy, the government could signal its intention to reconsider property cooling measures as early as the ...

  Bloomberg After years of relying on American consumers, Vietnam is turning to its Asian neighbors after US President Donald Trump dashed hopes for a Pacific trade deal that stood to benefit the export-reliant nation the most. The end of the Trans-Pacific Partnership “will push us to expand in other markets,” Nguyen Duc Kien, deputy head of the National Assembly ...