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

Bloomberg RWE AG’s UK unit will reduce its workforce by 21 percent after reporting a full-year loss and a customer exodus amid billing system failures. Germany’s biggest power producer posted its second net loss in three years. Npower’s operating loss was 137 million euros ($151 million) compared with a profit of 227 million euros a year earlier, the Essen, Germany-based …

NEW DELHI / AFP Ikea has announced that it would invest nearly $300 million in a north Indian state as it forges ahead with plans to start selling its low-cost furniture in the giant market next year. The Swedish flat-pack behemoth said it had signed a memorandum of understanding with the state of Haryana, which neighbours the capital New Delhi, with …

MADRID / AP Spanish fashion retailer Inditex, which owns the Zara store chain, said on Wednesday that net profit for its 2015 financial year was up 15 percent thanks to booming sales worldwide in the last few months. Inditex said that profit for February 2015 through January 2016 was a whopping 2.9 billion euros (nearly $3.2 billion) compared with only 2.5 …

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 …