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

Bloomberg The creation of central bank digital currencies to address economic inequality with new retail loan and payments channels must be designed so they don’t “cannibalise” a country’s commercial financial system, according to JPMorgan Chase & Co. If set up hastily, retail CBDCs could risk “disintermediating commercial banks” and lead to the exodus of 20% to 30% of their funding …

Bloomberg Westpac Banking Corp has agreed to sell its life insurance unit to Dai-ichi Life Holdings Inc’s Australian subsidiary TAL for $660 million as Australia’s second-largest lender continues to jettison non-core assets to focus on lending. The completion of the transaction, confirming an earlier Bloomberg report, is expected to happen in the second half of next year, Westpac said. Under …

Bloomberg Citigroup Inc has sold the first of 13 markets Chief Executive Officer Jane Fraser put on the block, agreeing a deal to offload its Australian consumer unit to National Australia Bank Ltd. The Australian lender will pay the US bank cash for the net assets of the Citigroup Consumer Business plus a premium of A$250 million ($184 million), according …

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 …