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

  Bloomberg The money manager behind a Russia-focused ETF that collapsed after the country invaded Ukraine is warning that bank fees are “significantly eroding” what little of the fund’s value remains. VanEck said Citigroup Inc, JPMorgan Chase & Co. and Bank of New York Mellon are charging fees on Russian depository receipts that its Russia ETF (ticker RSX) primarily holds, …

  Bloomberg JPMorgan Chase & Co reported credit costs of $1.1 billion, with Chief Executive Officer Jamie Dimon describing mounting economic uncertainty even as he emphasized the bank is prepared for “whatever happens.” The $1.1 billion in provisions for credit losses included a $428 million build in reserves for loans that go sour and $657 million in net charge-offs, the …

  Bloomberg Liquidity in China’s interbank market is more than “reasonably ample,” a senior central bank official said, an indication that further interest rate cuts are unlikely. The 7-day reverse repurchase rate is around 1.6%, lower than the cost of short-term policy loans the People’s Bank of China (PBOC) provides via its daily open market operations, Zou Lan, the head …

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 …