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.
Dubai-based Telegram app to hit 1 billion users 'within a year'
The Telegram messaging app, one of the most popular social media platforms, will likely cross one billion active monthly users within a year as it is spreading like "forest fire", its billionaire founder Pavel Durov said on Tuesday.
Microsoft invests $1.5 billion in Abu Dhabi AI company G42
G42, the leading UAE-based artificial intelligence (AI) technology holding company, has announced a $1.5 billion investment from Microsoft to strengthen it's expansion into new markets across the globe.
Spinneys announces intention to float on Dubai Financial Market
Spinneys Holding has announced its intention to proceed with an initial public offering (IPO) and to list its ordinary shares for trading on the Dubai Financial Market.
DXB remains world's busiest international airport
Dubai International Airport (DXB) has been ranked the world's busiest hub for international passengers for a tenth consecutive year.
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