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

Bloomberg Banco Santander SA, Spain’s biggest bank, reported lower first-quarter profit as revenue slumped in its home market and operations aboard were hit by currency effects. Net income fell 5 percent to 1.63 billion euros ($1.84 billion) from 1.72 billion euros a year earlier, the bank said on Wednesday. That beat the 1.5 billion-euro average estimate in a Bloomberg survey …

Beijing / Bloomberg A Chinese bank head signalled confidence that the government will loosen requirements for lenders’ bad-debt provisions, a move that could help them to report larger profits. A reduction in the coverage ratio to about 120 percent to 130 percent of existing non-performing debt would be “reasonable” and “possible,” Wang Hongzhang, the chairman of China Construction Bank Corp., …

  Bloomberg Scandinavia’s biggest bank said profit plunged 28 percent last quarter as revenue sank after negative rates and market selloffs created an inhospitable environment for the industry. Nordea Bank AB reported net income of 782 million euros ($884 million), missing the 792 million-euro estimate of analysts surveyed by Bloomberg. Net interest income slipped 7 percent while total operating income …

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 …