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BLOOMBERG Bed Bath & Beyond Inc has picked Overstock.com Inc as the lead bidder in an upcoming bankruptcy auction for the right to own the big box store’s brand. Overstock’s $21.5 million cash offer has been selected as the stalking-horse bidder for Bed Bath & Beyond’s intellectual property, according to court papers filed, setting the price floor for the bankrupt ...

BLOOMBERG Retail executives are sounding the alarm on in-store shoplifting as theft burns a multibillion dollar hole in their balance sheets. While most are vowing to fight back, they’re also expressing fears that they may be largely powerless to stop the problem. As if a possible recession and declining consumer sentiment wasn’t enough to worry about, retail executives are struggling ...

SHARJAH / WAM HH Sheikh Sultan bin Ahmed Al Qasimi, Deputy Ruler of Sharjah and President of the University of Sharjah, attended on Sunday, at the University City Hall, the graduation ceremony of undergraduate students at the University of Sharjah, the “Silver Jubilee batch” for spring semester 2022/2023. Sheikh Sultan bin Ahmed confirmed that there are many challenges that students ...

ABU DHABI / WAM The Anwar Gargash Diplomatic Academy (AGDA), the European Union Delegation to the UAE, the Embassy of Sweden in Abu Dhabi and the Swedish Dialogue Institute for the Middle East and North Africa, organised a panel discussion to highlight the vital role of women leaders in advancing the climate agenda and accelerating the green transition ahead of ...

BLOOMBERG Intel Corp said it plans to invest $4.6 billion to build a semiconductor assembly and test facility in western Poland, its latest project in the European Union as the bloc seeks to boost chip production amid rising geopolitical tensions. “With this investment today, and others in the EU, we’re excited to play a critical enabling point to building these ...

BLOOMBERG Nikola Corp is cutting 270 jobs as the maker of electric big rigs seeks to reduce costs and preserve cash. The move will affect 150 employees supporting European operations and another 120 workers based mostly at sites in Arizona and California, the company said in a statement. Nikola expects to save $50 million annually through the staff reduction, while ...

SHARJAH / WAM To leverage the power of ChatGPT and explore its potential for driving innovation within their respective fields, Sharjah Entrepreneurship Centre (Sheraa) organised a one-day hackathon in the UAE. The event brought together a diverse group of 80 individuals from various industries, including artists, educators, developers, entrepreneurs and environmentalists. The hackathon is part of SEF Bytes, a community-driven ...

DUBAI / WAM Delegates from the Dubai Supreme Council of Energy (DSCE), Dubai Electricity and Water Authority (Dewa), and the World Green Economy Organisation (WGEO), at the previous editions of the Conference of the Parties (COP) by the United Nations Framework Convention on Climate Change (UNFCCC) and played a fundamental role in supporting the UAE’s efforts to enhance cooperation with ...

MARYLAND, USA / GULF TIME Human BioSciences, a leading global player in the production of medical-grade collagen wound care, signed a contract in Qatar that will lead to supplying the healthcare needs in the Middle East and GCC countries. Founded in 1991 by renowned biotechnology expert Manoj Jain, Human BioSciences has emerged as an innovative biotech firm driven by solid ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has inaugurated the 900 MW fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world with a planned capacity of 5,000 MW by 2030. The fifth phase of ...