Bloomberg Steinhoff International Holdings NV raised $332 million by selling its remaining shares in KAP Industrial Holdings Ltd as the embattled retailer looks to shore up its balance sheet. The owner of Conforama in France and Mattress Firm in the US sold its 26 percent stake in the South African industrial company at a 9.4 percent discount, Steinhoff said. The ...

Bloomberg Bed Bath & Beyond Inc soared as much as 30 percent — the most intraday in 19 years — on news that activist investors plan to challenge the home-goods retailer’s directors in a proxy fight. The company responded by saying the investors have ignored its requests for feedback and only appear interested in gaining ammunition for an activist battle. ...

Dubai / WAM The UAE’s GDP is set to expand 3.5 percent this year against 2.8 percent in 2018, thanks to a stimulus package worth AED 50 billion announced last year along with a host of other mea-sures for ease of doing business in all emirates, said Director of Dubai Customs, Ahmed Mahboob Musabih, while chairing the first quarterly Consultative ...