Bloomberg Toys “R” Us Inc. is making preparations for a liquidation of its bankrupt US operations after so far failing to find a buyer or reach a debt restructuring deal with lenders, according to people familiar with the matter. While the situation is still fluid, a shutdown of the US division has become increasingly likely in recent days, said the ...

SHARJAH / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation (FDF), has announced that the theme of this year’s Emirati Women’s Day 2018, which will take place on August 28, will be, “Women on the Course of Zayed.” ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced its intention to move further downstream, as the company pivots to take full advantage of the rising demand for higher value refined and petrochemical products, particularly in the growth economies of China and Asia. Speaking at CERAWeek, a leading gathering of the energy industry, Dr. Sultan ...

TOKYO / WAM The growth on non-oil trade between the UAE and Japan to AED53.5 billion, or $14.6 billion, is a tangible proof of the privileged relations established by the two nations across the past decades, according to Sultan bin Saeed Al Mansouri, Minister of Economy. The minister made the remarks during UAE-Japan Strategic Business Forum, in presence of Japan’s ...

FUJAIRAH / WAM Total oil product stocks in the Port of Fujairah were 16.712 million barrels, up 4.6 percent on the week, after heavy distillates rebounded from last week’s record lows, according to latest data from the Fujairah Energy Data Committee, or FEDCom. Stocks of heavy distillates and residues jumped 34.3 percent on the week to 6.5 million barrels. This ...

LONDON / WAM UAE-based NMC Healthcare announced results for the year 2017, with total revenues rising from $1,220.8 million in 2016 to $1,603.4 million, up by 31.3 percent, and total net profit rising from $151.4 million in 2016 to $209.2 million last year, an increase of 38.2 percent. Adjusted net profit rose 43 per- cent from $165.2 million to $236.6 ...

LUXEMBOURG / Reuters Europe and the IMF urged Donald Trump on Wednesday to step back from the brink of a trade war, after the resignation of his economic adviser emboldened those encouraging him to push ahead with tariffs on imported steel and aluminium. The departure of Gary Cohn, seen as a bulwark against Trump’s economic nationalism, hit shares, oil and ...

Mumbai / Emirates Business In a bid to strengthen ties with overseas clients, Ras Al Khaimah Economic Zone (RAKEZ) has launched its new office in India at the strategically important Bandra Kurla Complex in Mumbai. The opening of the office, which was witnessed by His Highness Sheikh Ahmed bin Saqr Al Qasimi, RAKEZ Chairman, VIP government representatives and senior industry ...

Dubai / Emirates Business Deyaar Development PJSC, one of Dubai’s leading property developers and real estate service providers, adopts Microsoft’s cloud solutions, cyber security products, and business intelligence capabilities to optimise costs and spearhead innovation across operations and processes. Both companies will work together to redefine Deyaar’s customer experience with a virtual-tour application using Microsoft’s mixed-reality HoloLens device, create a ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai on Wednesday inspected the progress of the Shindagha Heritage District project, which is part of a major renovation development aimed at rejuvenating some of the oldest parts of Dubai. His Highness was accompanied by HH Sheikh Maktoum ...