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

BENGHAZI / Reuters Libya’s giant Sharara oil field has been closed since late on Sunday, shutting off the production of more than 230,000 barrels per day (bpd), an engineer at the field and a Libyan oil source said. Libya’s National Oil Corporation (NOC) said in a statement on Monday that it was “working towards a swift restart of production. At …

Reuters Qatar’s economic growth slowed in the second quarter to its lowest rate since the global financial crisis because of a sagging oil sector, and sanctions by Arab states, reports said. Gross domestic product, adjusted for inflation, expanded just 0.6 percent from a year earlier in the April-June period, the slowest growth since the 2009-2010 crisis. GDP grew 0.5 percent …

Bloomberg Reliance Communications Ltd.’s plan to merge with Aircel Ltd. collapsed in a blow to the Indian mobile phone carriers’ plans to pare debt and gain scale to take on bigger rivals. “Legal uncertainties” and “interventions by vested interests” caused delays in regulatory approvals, Reliance Communications said in an exchange filing. Consequently, the merger has “lapsed with mutual consent,” it …

GULF TIME Vapiano is set to introduce breakfast for the first time in its history across its UAE outlets, marking an exciting new chapter for the international dining brand. The new Vapiano Breakfast Menu has been created to bring a fresh, social, and relaxed international lifestyle experience to the morning dining scene, offering guests a new way to begin their …

NEW WEST ZONE SUPERMARKET LLC, the registered and exclusive owner of the trademark “WEST ZONE” in the United Arab Emirates, hereby declares that  the company has no procurement or marketing branch operating in any of the Emirates in the UAE except “ Dubai”. The public, customers, and suppliers are hereby cautioned not to deal with any entity claiming to represent or belong …

ABU DHABI/WAM The Securities and Commodities Authority (SCA) is calling on investors to collect their dividends through First Abu Dhabi Bank (FAB), the paying agent appointed to handle the process. This comes as a part of its ongoing efforts to protect the rights of shareholders in companies listed on the UAE stock exchanges and ensure they claim any outstanding entitlements …

DUBAI/WAM Capital.com, the high-growth global trading platform and fintech group, has announced it is now offering its customers access to the principal UAE stock markets – becoming one of the first major trading platforms to do so. In a move that reflects the growing interest in the region’s economy, Capital.com is providing full coverage of the Abu Dhabi Securities Exchange …

ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX), the second-largest exchange in the Middle East, on Tuesday welcomed the successful listing of Alpha Data, a leading digital transformation provider and systems integrator in the UAE. This marks the UAE’s first IPO and the exchange’s second offering in 2025, reinforcing the exchange’s commitment to broadening the market and offering …