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

  Bloomberg Wells Fargo & Co. missed analysts’ earnings estimates as the Federal Reserve’s rate hikes started to cool the once-hot housing market, hurting the company’s mortgage-lendingbusiness. Mortgage-banking income falls 79% to $287 million in the quarter, according to a statement. That missed analysts’ $392.4 million estimate and helped bring second-quarter net income down to $3.12 billion, below the $3.19 …

  Bloomberg Chile’s central bank announced plans to support the nation’s currency after it plummeted to a record low, fuelling inflation that’s already almost quadruple target rate. Policy makers announced a $25 billion currency intervention, adding it will last from July 18 to September 30. The program includes spot dollar sales of as much as $10 billion and foreign-exchange hedge …

  Bloomberg Hyundai Motor Co unveiled a sedan version of its cult electric vehicle, with an interior that can beam different colours depending on the speed of the car, as the automaker continues its ambitious EV push with an eye on challenging rivals such as Tesla Inc. and General Motors Co. The Ioniq 6 can travel up to 610 kilometers …

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 …