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

CAIRO / EMIRATES BUSINESS Egypt’s real estate developer SODIC signed sales contracts worth 4.4 billion Egyptian pounds (US$ 495.5million) during the financial year ended in December 2015, according to a source. SODIC , or Sixth of October Development and Investment Company revenues for the period reached 1.47 billion Egyptian pounds, while its net profit registered 321.331 million Egyptian pounds from …

Bloomberg When Ethiopian farmer Mulugeta Mezemir ceded his land three years ago to property developers on the fringes of the expanding capital, Addis Ababa, he felt he had no choice. A gated community with white picket fences and mock Roman pillars built by Country Club Developers now occupies the fields he tilled in Legetafo, Oromia region, after the 60-year-old said …

Bloomberg Casino Guichard-Perrachon was cut to junk by Standard and Poor’s, increasing the French grocer’s debt costs as short seller Carson Block attacks its accounting. The long-term debt rating was lowered by one step to BB+, the highest non-investment grade, Standard & Poor’s said in a statement on Monday. The outlook is stable. S&P had said it may lower 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 …