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

  AFP Russia’s largest lender Sberbank on Thursday announced it almost tripled its profits in the second quarter and predicted further stabilisation of the economy this year despite credit growth slowing. The majority state-controlled bank made a net profit of 145.4 billion rubles ($2.23 billion, 1.98 billion euros) in the second quarter, up 166.3 percent on the same period last …

  Sydney / AFP Australian supermarket giant Woolworths on Thursday reported a large annual net loss of Aus$1.23 billion (US$940 million), its first since listing more than two decades ago, following a failed push into hardware and a slump in food sales. Woolworths, Australia’s largest retailer and one of the two dominant supermarket chains in the country, recorded the sharp …

  Bloomberg Deutsche Lufthansa AG flight attendants approved a three-year contract to end one of the airline’s long-running disputes over pay and pensions that have led to strikes. The accord with the cabin-crew union UFO will lead to savings in the mid-double-digit millions of euros in labor costs and reduce pension commitments by a high triple-digit million-euro amount, Lufthansa said …

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 …