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

Bloomberg Barclays Plc might struggle to reach its profitability target for the year and could cut discretionary awards as the coronavirus pandemic disrupts its business, joining a string of global lenders. “It’s going to be a tough year for earnings,” Tushar Morzaria, finance director, said on Tuesday at the Morgan Stanley European Financials Conference, held virtually this year. Barclays might …

Bloomberg HSBC Holdings Plc’s search for a new chief ended where it began: with its caretaker CEO Noel Quinn. The bank said Quinn would become its permanent boss, after seven months as interim leader. The board had struggled to secure an external candidate while trying to respond to an increasingly treacherous global economy that’s been rocked by the impact of …

Bloomberg Iceland’s central bank made a second emergency cut to its benchmark interest rate inside a week as the number of confirmed cases of coronavirus rose to 247 in the tiny north Atlantic nation. The seven-day term deposits rate was reduced by 0.5 percentage points to 1.75%, its lowest level ever. Sedlabanki also reduced countercyclical capital buffer on financial institutions …

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 …