Gap Inc says it is shutting 230 of its stores.
The fashion firm also said splitting off its Old Navy brand, which will be a standalone company.
They say it's part of restructuring efforts aimed at "revitalising" the company.
According to latest figures, sales at Gap are continuing to fall while Old Navy's revenues are on the rise.
UAE becomes top 10 global exporter, WTO figures show
The UAE has become one of the world’s top 10 exporting countries for the first time, according to the latest figures from the World Trade Organisation’s (WTO) “World Trade Prospects and Statistics” report.
ADNOC Gas says domestic demand still being met after Habshan attack
ADNOC Gas said on Sunday that demand in the UAE was being met through its other facilities after the Habshan complex in Abu Dhabi was hit by debris from an intercepted attack on Friday.
OPEC+ adjusts output by 206,000 bpd from May
The eight OPEC+ countries, namely the United Arab Emirates, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and the Sultanate of Oman, announced an adjustment to oil production levels on Sunday, reaffirming their joint commitment to supporting stability in global oil markets.
More than 2,700 firms join Dubai Chamber of Commerce in March
Dubai Chambers said on Sunday 2,709 firms registered at Dubai Chamber of Commerce during March, with the largest share coming from the real estate, renting and business services sector, accounting for just over 41 per cent of new members.
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