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

New York / AFP Citigroup joined the growing list of banks to boost reserves for bad energy loans, but said it saw no signs the energy bust was spreading to the broader economy. The US banking giant lifted its reserves for loan losses by $233 million due to energy-related loans as company officials signaled they expect further hits to results …

  Bloomberg Kenya’s central bank is evaluating more than five offers from potential local and foreign suitors for Chase Bank Kenya Ltd., which was placed into receivership last week, Governor Patrick Njoroge said. The nation’s regulators were forced to step in with emergency support to stem depositor panic after the collapse last week of Chase Bank, the third lender to …

  BLOOMBERG The People’s Bank of China (PBOC) weakened the daily yuan reference rate by the most in three months after the dollar strengthened. The central bank set the daily fixing of the local currency at 6.4891 to the dollar on Thursday, the lowest level in more than two weeks. The yuan in Shanghai fell 0.1 percent in a third …

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 …