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

Bloomberg Societe Generale SA swung to a surprise $1.5 billion loss because of charges at its trading unit, extending a losing streak that’s set to increase pressure on Chief Executive Officer Frederic Oudea. The French lender posted almost 1.33 billion euros in one-off costs following a review of the global markets and investor services business, including a 684 million-euro writedown. …

Bloomberg Australia’s central bank staff will be working around the clock to factor in the latest data from Victoria state’s spiralling Covid crisis into economic projections ahead of Tuesday’s policy meeting and Friday’s forecasts publication. Reserve Bank Governor Philip Lowe is set to keep interest rates and the three-year yield target unchanged at 0.25%, most economists say, and reiterate a …

Bloomberg Bandhan Bank Ltd.’s main shareholder sold $1.4 billion of its stake in India’s most profitable bank to meet the regulator’s ownership rules. Bandhan Financial Holdings Ltd. sold 337.4 million shares in the Indian lender at 313.1 rupees in a block trade on Monday, according to deal teams seen by Bloomberg News. The company’s shares plunged 11% to 307 rupees …

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 …