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

  Bloomberg Egypt has reached a $2.7 billion currency swap agreement with China, moving closer to mustering the outside financing needed to win final approval of a $12 billion International Monetary Fund loan. The agreement is being processed by the Chinese authorities, an Egyptian central bank official said Sunday, speaking on condition of anonymity. The official didn’t provide additional details …

  Reuters Hyundai Engineering and Construction signed a contract to build a project for Saudi Aramco’s Uthmaniyah plant for 833.10 billion won ($727 million), the South Korean company said. Hyundai expects the contract to be completed by Nov. 26 2019, it said in a statement. Sources told Reuters on Thursday that Hyundai had won the deal after offering discounts to …

  Luanda / AFP Angolan state-owned oil company Sonangol rode the commodities boom that drove the country’s extraordinary growth after civil war ended in 2002, but today it symbolises a national economic crisis. The Luanda-based company has increasingly been in focus since Isabel dos Santos, the billionaire daughter of long-time President Jose Eduardo dos Santos, was appointed CEO in June. …

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 …