Tokyo / Bloomberg Bank of Japan (BOJ) Deputy Governor Hiroshi Nakaso indicated the central bank is prepared to take its benchmark rate deeper into negative territory, though not immediately. “We have designed a policy that technically allows us to cut the level further,” Nakaso told reporters in Okinawa on Thursday, referring to a minus 0.1 percent interest rate policy the ...

SINGAPORE / Bloomberg Singapore Airlines Ltd., facing competition from Middle Eastern carriers and a rash of budget airlines, is trying to revive its fortunes the way it knows best: wooing flyers with new aircraft. The carrier received its first Airbus Group SE A350 in Singapore on Thursday. While the new aircraft with its extra-wide cabins and a new entertainment system will ...

LAS VEGAS / Bloomberg MGM Resorts International has reached an agreement to sell its Shops at Crystals mall in Las Vegas to a Simon Property Group Inc. partnership for $1.13 billion, according to a person with knowledge of the transaction. The deal may be completed soon, said the person, who asked not to be identified because the terms have not been ...

Bloomberg McKesson Corp. agreed to acquire Rexall Health, Canada’s No. 2 drugstore chain, from its private owner for C$3 billion ($2.23 billion), as the US distributor of medical products expands its presence in Canada. Rexall operates about 470 retail pharmacies, and McKesson said it will maintain the brand in Canada. The acquisition of Rexall from Katz Group is being funded ...

Washington / Bloomberg Costco Wholesale Corp. posted second-quarter earnings that trailed analysts’ estimates as higher-income shoppers show signs of curtailing spending. Net income fell 8.7 percent to $546 million, or $1.24 a share, the Issaquah, Washington-based company said in a statement. Analysts estimated $1.28 a share, on average. Same-store sales in the US, a closely watched measure by investors, increased ...

NEW YORK / AP US airlines are looking to serve Cuba primarily from their large hub cities, with Havana being the most popular destination. At least eight carriers submitted applications to the US Department of Transportation (DOT) outlining what routes they would like to fly. The government will spend the next few months reviewing the requests and is expected to ...

Sunaina Rana / EMIRATES BUSINESS Mama Fu’s Asian House, the USA-based restaurant concept specialising in fresh and innovative Asian cuisine, launches its first international location in the UAE this November. Mama Fu’s promises a new gastronomic experience offering an inventive menu inspired by the cuisines of Vietnam, Korea, China, Japan, and Thailand. The brand is all set to launch a ...

Our Correspondent / EMIRATES BUSINESS Fashion conscious women seeking style in the 14+ range now have three new outlets dedicated to catering to their fashion requirements in the UAE. City Chic, the leading global plus size brand, is opening a trio of new stores in the country, making its popular range of plus size clothing available to customers in the ...

Abu Dhabi / WAM The United Arab Emirates, under the wise leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has strongly believed in the importance of its human resources in all fields, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said on Wednesday. ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, on Wednesday visited the 41st Middle East Electricity Exhibition, which is being held at the Dubai World Trade Centre. His Highness Sheikh Mohammed toured the exhibition, in which nearly 1,500 companies from 56 countries, including the UAE, are participating, to ...