Bloomberg Sycamore Partners is betting on the ailing retail sector at a time when other investors are shying away. The buyout firm, which bought Staples Inc. last month, is trying to raise $4 billion for its biggest fund yet, two people with knowledge of the matter said. It’s planning to finish raising the money in January, one of the people ...

Bloomberg South African Airways has agreed to hire a restructuring expert to help turn around the state-owned airline and meet conditions laid down by lenders to roll over debt, according to two people familiar with the matter. Incoming Chief Executive Officer Vuyani Jarana met with British industry veteran Peter Davies last month and he agreed to help try return SAA ...

Bloomberg US online retailers like Amazon.com Inc. stand to gain from the Trump administration’s push to throw open the doors for Canadians and Mexicans to buy American goods duty-free. The US is demanding Canada and Mexico raise the threshold at which duties are applied to purchases crossing the border, according to two people with knowledge of a proposal put forward ...

Bloomberg Ryanair Holdings Plc Chief Operating Officer (COO) Michael Hickey will step down from Europe’s biggest discount carrier after a management misstep resulted in the cancellation of more than 20,000 flights into next summer. Hickey will step down at the end of October, the airline said. A search to identify and recruit a successor is underway. Ryanair’s botched rosters has ...

Bloomberg Oman pledged to create 25,000 public sector jobs by December, a move that risks adding to a budget gap that was the Gulf’s widest last year. The government will follow up with additional measures to address the lack of jobs in the sultanate, the state-run Oman News Agency reported on Wednesday, citing the cabinet’s decision a day earlier. Unemployment ...

Dubai / WAM In line with its mandate to position Dubai as the global capital of the Islamic Economy, the Dubai Islamic Economy Development Centre (DIEDC), in partnership with Dubai Exports, the export promotion agency of Dubai Economy, recently led a multi-sector trade mission to Australia. The aim of the high level and diverse group was to capitalise on the ...

Bloomberg President Vladimir Putin said Russia may agree to extend a deal with OPEC to curb oil supplies beyond March to the end of 2018, though he’ll wait to make a decision until nearer the end of the existing pact. “Based on the realities in March 2018, we will make our decision, but I do not rule out that we ...

NEW YORK / WAM The United Arab Emirates has highlighted the importance of involving the youth in international efforts to address various global challenges, as well as enabling and involving them in the decision-making process. This came in a statement made on behalf of the UAE by its delegation at a general discussion on social development issues, organised by the ...

SHARJAH / WAM Sharjah Economic Development Department (SEDD), released the sixth edition of the 2016 annual report which highlights its reports throughout the year. The report included the services, activities, initiatives and policies implemented by the department within the framework of its vision to achieve economic well-being in the emirate. It also included the objectives the department seeks to achieve ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees at the Dubai Future Foundation (DFF), visited the foundation’s headquarters, accompanied by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai. During the visit, they viewed some of the foundation’s top ...