Bloomberg Pier 1 Imports Inc is planning to dismiss about 40% of its headquarters staff and shut about 450 stores in an attempt to overhaul the troubled home furnishings business. The retailer has drafted a bankruptcy plan and last month made a presentation to creditors that envisioned a smaller company with about $900 million in annual sales, according to people …

Bloomberg Oil extended its gains, briefly surpassing $70 a barrel in London for the first time since September, as Middle East tensions flared after the US assassinated one of Iran’s most powerful generals. Futures rose as much as 3.1% on Monday as the US State Department warned of a “heightened risk” of missile attacks near energy facilities in Saudi Arabia. …

DUBAI / WAM A recent report has noted that the value of the Internet of Medical Things (IoMT), for the Mena region is expected to increase to $9 billion by 2022. The report was released in the run-up to Arab Health, the Mena region’s largest exhibition for healthcare and trade professionals. The exhibition will showcase the role technology has on …