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

  Bloomberg Canadian Imperial Bank of Commerce (CIBC) plans to set aside C$850 million ($628 million) to cover damages in a lawsuit with Cerberus Capital Management LP that it’s still fighting. The after-tax provision will reduce the bank’s Common Equity Tier 1 capital ratio by about 30 basis points, the Toronto-based bank said. CIBC reiterated that it plans to appeal …

  Bloomberg Bank of Montreal’s (BMO) capital-markets unit was the top arranger of initial public offerings (IPOs) in Canada in 2022, eking out two significant deals in a year when plunging equity prices all but froze the market for companies seeking to sell shares for the first time. Canadian companies undertook 112 IPOs with a total value of C$1.82 billion …

Bloomberg The strong appetite for Southeast Asia stocks seen over the past year is starting to ebb as the reopening of China draws global funds to cheaper northern markets. An analysis of Asian mutual fund positions in November by HSBC Holdings Plc showed they cut exposure to the biggest overweight markets of Indonesia and Singapore, while increasing allocations to Taiwan …

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 …