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

Bloomberg Wall Street’s worst fears about the fallout from Covid-19 are receding. Three of the biggest US lenders — JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. — cut their combined reserves for losses on loans by more than $5 billion, helping fourth-quarter profit top estimates even as they faced headwinds from low interest rates. While posting …

Bloomberg Hong Kong police have arrested seven current and former bank staff in the city in an alleged money laundering case involving HK$6.3 billion ($810 million) in dirty money flows over the past four years. Five men and two women, between the ages of 30 and 37, were arrested, the police said in a statement on Wednesday after making raids …

Bloomberg Bank of America Corp. (BofA) said it plans to repurchase $2.9 billion worth of stock this quarter, the most it can under new Federal Reserve guidelines. The buybacks come on top of its 18-cent dividend and $300 million in repurchases that offset stock awards, the bank said in a statement that came ahead of its fourth-quarter results. Bank of …

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 …