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

  Bloomberg China’s largest state-owned banks reported profit growth of at least 5% in the first quarter, fuelled by increased lending and improved asset quality before a Covid-19 outbreak triggered broad lockdowns and pummeled the economy. Industrial & Commercial Bank of China Ltd (ICBC) said net income rose 5.7% to 90.63 billion yuan ($13.8 billion) in three months ended March …

  Bloomberg The US consumer watchdog is ordering Bank of America Corp (BofA) to pay a $10 million penalty and repay fees that the lender charged customers when garnishing wages. The Consumer Financial Protection Bureau (CFB) said that the Charlotte, North Carolina-based lender incorrectly froze accounts and garnished customer funds based on out-of-state court orders. The lender should have ensured …

  Bloomberg Brazil’s central bank raised its benchmark interest rate by a full percentage point and opened the door to a longer monetary tightening campaign, with another likely increase of smaller size in June to battle rampant inflation. Policy makers lifted the Selic to 12.75%, extending total hikes to borrowing costs since last year to a whopping 10.75 percentage points. …

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 …