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

Bloomberg Credit Suisse Group AG is setting aside more than $1 billion to cover writedowns and provisions for bad loans, the biggest such hit in more than a decade as the coronavirus pummels economic activity across the globe. The bank is holding back 568 million Swiss francs ($585 million) for credit losses, almost triple what analysts had been expecting, and …

Bloomberg Standard Bank Group Ltd. said first-quarter net income declined 27% after Africa’s largest lender prepared for a surge in loan defaults as measures to contain the coronavirus batter business and personal incomes alike. Credit-impairment charges for the three months through March were “significantly higher” than in the prior year, the Johannesburg-based company said in a statement. “The increase was …

Bloomberg A former Deutsche Bank AG veteran’s Japanese cryptocurrency exchange is poised to start trading services just as Bitcoin shows signs of a recovery from coronavirus-fuelled turmoil. More than two years after its foundation, FXcoin Ltd. plans to offer Bitcoin transactions on its platform from May, it said in a statement on Thursday. The firm has recently begun accepting applications …

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 …