The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

Bloomberg Toys ‘R’ Us Inc.’s creditors are pushing for a better deal for the Asian business. The unprofitable company, currently aiming to wind down its US operations, has asked for non-binding bids for its growing Asian unit by early April, according to people familiar with the matter. Toys ‘R’ Us is working with Lazard Ltd. on the sale process, seeking ...

Bloomberg Swire Properties Ltd. has signed an agreement with WeWork Cos. to lease four floors providing about 55,000 square feet in a commercial tower in Taikoo Shing, the first deal between the co-working space provider and a major listed Hong Kong developer. Swire didn’t disclose the rent to be paid by WeWork, but said it would pay the going market ...

Bloomberg Bangkok’s famed love affair with food is spilling over to meal-delivery apps, a fledgling sector that Delivery Hero AG’s Foodpanda projects will surge in 2018 as competition intensifies. Foodpanda, Line Corp.’s Line Man and Uber Technologies Inc.’s Uber Eats are using promotions, such as free delivery or discounts, to woo customers in a sector they see as underdeveloped compared ...

Bloomberg Billionaire Quek Leng Chan’s GuocoLand Ltd. and its joint venture partners are buying Pacific Mansion near Singapore’s business district for S$980 million ($743 million), the biggest purchase of a residential site for redevelopment in more than a decade. The price is also the highest in the current so-called en-bloc cycle, and only surpassed by the S$1.3 billion sale of ...

Bloomberg Government officials in the US and Europe are demanding answers from Facebook Inc. after reports that Cambridge Analytica, the advertising-data firm that helped Donald Trump win the US presidency, retained information on tens of millions of Facebook users without their consent. Entreaties for the social-media giant to take responsibility evolved into calls for CEO Mark Zuckerberg to appear in ...

Bloomberg London property asking prices slumped for a seventh straight month as sellers held off putting their homes on the market, according to Rightmove. The March report from the home-listing website shows that asking prices declined 0.6 percent from a year earlier in March, with the number of newly marketed properties falling 3 percent. Prices rose 0.6 percent from February, ...

Bloomberg GKN Plc’s rival suitors offered additional sweeteners to win over the UK aerospace supplier’s shareholders, who are set to decide next week which side to support. Dana Inc. pledged to trade its stock in London following the US company’s planned takeover of GKN’s automotive unit, it said. Melrose said separately that it would bolster GKN’s pension plan, while easing ...

Bloomberg Samsonite International SA, the world’s biggest luggage maker, has its eyes on adding a handbag brand and is open to a deal that could rival its $1.8 billion purchase of Tumi, according to Chairman Timothy Charles Parker. Handbags would help Samsonite fill a gap as the company focuses on boosting sales of office gear and non-travel products to women, ...

Bloomberg HNA Group Co. will be hard-pressed to get anything close to the $2.2 billion it paid for a Manhattan office tower during its real estate binge. In 2017, the Chinese conglomerate bought 245 Park Ave., a late 1960s-era building that’s home to JPMorgan Chase & Co., paying one of the highest prices ever for a New York office property. ...

Bloomberg European Union countries may decide this week whether to impose new political or economic sanctions on Russia after the UK accused Moscow of using a nerve agent on its territory, according to a senior Polish government official. “Poland supports the view that we should show solidarity within the EU and NATO and show Russia that it can’t cross new ...