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Two years ahead of it’s scheduled opening, a FIFA World Cup-themed shopping mall in Doha has attracted tremendous interest from some of the world’s biggest retailers. Covering an area equivalent to 50 football pitches, the Mall of Qatar is being developed next to the 2022 World Cup venue. Being built...
Europe’s largest retailer, Carrefour, agrees to sell it’s 25 percent stake in a joint Middle East venture with Majid Al Futtaim (MAF). MAF reports the deal is worth an estimated USD 683 million, saying in a press release; “Majid Al Futtaim will keep and strengthen the strategic partnership with Carrefour in...
A report by global payment solutions provider VISA Inc. says the MENA region (Middle East and North Africa) recorded the fastest e-commerce growth in the world. The data was compiled by the UK body for e-retail, the Interactive Media in Retail Group (IMRG). The study based on 2012 data, says...
A new report by leading global property adviser CBRE shows that Dubai has retained its position as the 2nd most important retail destination in the world. Findings of the 2013 edition of How Global is the Business of Retail? were disclosed at the headquarters of Dubai Chamber of Commerce and...
The Arab Spring did not only have long-lasting political repercussions for Middle East and North Africa, but it has also altered the region’s retail landscape and shaped the future for businesses and consumers. A new report by the Euromonitor International, titled ‘Retail in the Middle East and North Africa: A...
Carrefour, the French global retailer, is aiming to achieve rapid expansion in the UAE to fuel its future growth. Sales revenues of the world’s second largest retailer have come under tremendous pressure in its home market. In Europe, weak economic growth and poor weather have resulted in a sharp decline...
Abu Dhabi Airports Company (ADAC), the operator of Abu Dhabi’s five airports, revealed that Abu Dhabi Duty Free retail revenue reached Dhs809.5m in 2012, an increase of 24% over 2011, setting a new record for the company. The announcement was made today at the opening of Trinity Forum 2013, hosted...
More than 276 hotels and hotel apartments are located within 2km of one of five mega shopping malls in Dubai, a Market research conducted by Reed Travel Exhibitions the organiser of Arabian Travel Market 2013 (ATM) which takes place at Dubai World Trade Centre on 6-9 May 2013, has shown....
As Qatar steps up its preparation for the 2022 FIFA World Cup, small firms are likely to miss out on their share of the pie and not benefit from the billions of dollars dedicated for new infrastructure projects. Qatar plans to invite tenders for an estimated USD 100 billion worth...
A recent study by Booz & Company indicates that four important trends will significantly reshape the grocery retailing industry in the near future A recent study centering on American grocery retailing and led by management consulting firm Booz & Company in collaboration with the Food Marketing Institute, uncovered notable findings...
Summit Partners, a US-based growth equity firm, has decided to invest in Dubai-based e-commerce site Namshi.com. The total value of investment remains undisclosed and follows a recent investment of USD 20 million by JP Morgan Asset Management and Blakeney Management. The investment by JP Morgan Asset Management and Blakeney Management...
Dubai Duty Free’s has announced that its year-end sales figures hit a record Dhs5.9 billion (US$1.6 billion), representing a 10% increase over  2011. The announcement came on the same day Dubai International airport announced the first Emirates inaugural A380 flight from the new and world’s only dedicated and purpose-built A380 Concourse...
With annual sales now exceeding AED 30 billion (US$8.2 billion), the market of luxury goods continued to witness impressive growth in Middle East. According to a new study, the luxury goods market recorded a growth of 10 to 15 per cent from 2011 to 2012. The Middle East market climbed...
GCC’s retail sales are expected to grow at a CAGR of 7.7% to reach US$ 270.3 billion by the end of 2016. According to the latest report on GCC retail industry published by Alpen Capital, GCC’s retailers have benefited from the government initiatives and progressive policy agenda and have a...
Harrods, the world-famous London department store, recorded an 11% sales increase to £651.7m ($1bn) in the year to 28 January, with pre-tax profit rising 15% to £125.3m ($196.6m). Qatar Holding, owners of Harrods, bought the retailer from Mohamed Al Fayed for £1.5bn ($2.35bn) in 2010, earlier this month revealed plans to...
Gulf nations, particularly Saudi Arabia and the UAE, are home to the world’s highest consumption rates of cosmetics, according to a study conducted by Epoc Messe Frankfurt and published by the London-based newspaper Asharq al-Awsat. Saudi Arabia ranks first among Gulf nations, followed by the UAE, in consumption of skin and...
Retailers in Ras Al Khaimah (RAK) are hoping for a period of sustained growth, thanks to an increase in the number of tourists, more foreign direct investment and a growing economy, a report published by a British publication said. The UAE’s emirate witnessed a massive boom in retail sector, with...
United Nations Environment Programme (UNEP), in its shocking report titled ‘Avoiding Future Famines,’ revealed one-third of food produced globally is wasted and fails to reach the consumers’ plate. The amount of wastage exceeds 1.3 billion tonnes every year, the damning report added. A similar report was also released by the...
A study released by a global management consultancy firm said four Gulf countries feature among top global emerging markets for retail expansion. The Global Retail Development Index (GRDI) ranks 30 countries on market attractiveness, market saturation, country risk and time pressure on an annual basis. Martin Fabel, partner at A. T....
MasterCard announced it is restructuring its Middle East and Africa business. The announcement comes at a time when the global credit firm is trying to cash in on steady population growth, continuous economic development and a huge chunk of young consumers entering workplace every year. The Middle East and Africa (MEA) business...
Facebook e-commerce is becoming the new trend over social media, as more and more consumers are looking forward to have social shopping and also companies are jumping over this F-commerce market. Some e-commerce start ups, backed by some tech financiers, are betting confidently that Facebook Inc can be the future...
Double A paper is manufactured by Double A (1991) Public Company Limited, one of the most advanced fully-integrated pulp and paper manufacturers in the world. Double A paper is produced from fast growing farmed trees grown by contract farmers in Thailand, providing local farming families extra income. Double A launched...
Dubai Duty Free is expecting to double its sales to more than Dh10 billion ($2.72 bn) by 2018, compared to last year’s 15 percent rise. Colm McLoughlin, Executive Vice President of Dubai Duty Free, has said this year’s sales would touch Dh 16bn. On its 28th anniversary, the retailer offered...
Sources inside Indian government insist plans to open up the retail industry have been put on hold, days after giving a formal nod to global retail giants. Opposition parties and senior figures within the government openly criticised the move which will allow retail big-wigs such as Wal-Mart, Tesco and Carrefour...
India’s chief economist has warned suffering of country’s millions of poor people will continue if global supermarket chains are not let into Indian retail industry. Speaking to the Times newspaper, Kaushik Basu, one of Prime Minister Manmohan Singh’s influential advisers, asserted India’s poorest people will have to pay more for...
It was a perfect Thanksgiving gift to the global retailers by India. On Friday, India announced that it will open up its US$451 bn retail sector to foreign companies. Global multi-brand companies like Carrefour, Tesco, Wal-mart and others have got the nod from Indian government to hold a majority stake...
The trade exchange between Dubai and Peru registered a doubled growth rate in 2010 exceeding Dh 62 million from Dh 29 million in 2009. GROWING TRADE Ahmed Butti, Executive Chairman of Ports, Customs and Free Zone Corporation, said: “Imports had the biggest share of the trade exchange between the two...
Carrefour is contemplating whether it should drop its annual earnings forecast as the retail giant’s reorganisation in France did not boost sales growth as fast as expected. Up until July 13, Carrefour forecasted a “progression in sales and current operating income” this year. The company also issued restated earnings on...
This year Wal-Mart Stores Inc. has been struggling to keep its image as the store that offers the lowest prices. THE STORY It has managed to show profits over the second quarter but its low-income customers worried about job security, rising costs and their finances and this has been reflected...
Using robots and building additional warehouse centers, online retailers are copying the online distribution tactics of Amazon.com Inc. Bloomberg reports retailers such as Walgreen Co. and Toys “R” Us Inc. are beefing up their online sales efforts in anticipation of the holiday season and to win back customers from Amazon. Brick-and-mortar retailers are...
Kraft Foods Inc. recently released a statement in Thursday saying that it was splitting in two. The world’s largest global-food company has decided to divide its snack and grocery businesses. The statement came as a surprise, especially since Irene Rosenfeld, the company’s chief executive told investor’s 18 months ago that,...
After two years, Unilever has been able to celebrate the highest price growth. Shares rose by 5.1% in the second quarter, soaring well above the 2.6% median estimate of 9 analysts surveyed by Bloomberg News. Product Promotion The high price growth may be attributed to the introduction of products such...
Place: Saudi Arabia Story: Retail sales in Saudi to cross $37b by 2015 New data from Business Monitor International noted that retail sales in Saudi Arabia are expected to grow from just under $27bn this year to more than $37bn in 2015 on the back of strong economic growth in the...
Though shoppers in the Middle East are not aware of the company, Unilever; products coming from this global giant is used on a daily basis. The Anglo- Dutch conglomerate sells fast moving consumer goods such as personal care, cleaning, food, and hygiene and nutrition products. “Today, we have more than...
Superbrands, the independent authority and arbiter of branding, announced that they are set to honour UAE’s best brand on 11th July this year at their Tribute event to be held at I ntercontinental Hotel in Dubai Festival city. Speaking about the event, Mr. Mike English, Director, Superbrands Middle East, said,...
Dubai Duty Free retained its position as the largest single airport retail operation in the world in terms of turnover, which in 2010 was Dhs4.66 billion (US$1.27 billion). Dubai Duty Free has recorded a 16.6 per cent increase in sales to Dh2.54 billion ($698 million) sale during the first half...
Expat run illegal businesses face axe in Saudi Arabia as the Ministry of Labour takes measures to combat tasattur or “cover-up businesses”, according to a latest report in the Saudi Gazette newspaper. According to the Ministry, the move would affect over 1, 20,000 commercial businesses in Jeddah alone. Businesses will...
The UAE based Royal Star International has confirmed news of the completion of an $850 million shopping mall in Iran. This will be the world’s biggest mall in terms of the number of shops in one complex. The mall located in Shiraz will have 2,500 shops for lease. The Fars...
The Australian brewer’s Group, Foster’s Group Ltd has confirmed news that the company has rejected the offer from beer maker SABMiller PLC. It is learnt that the bid is undervalued for the beer company. “The board of Foster’s believes that the proposal significantly undervalues the company in the context of...
Ron Johnson, the top retail executive for Apple is set to resign from his present post in Apple. The shift which is expected to happen by November this year is to fill the role vacated by Myron E Ullman III, chief executive of JC Penney. Johnson will be the second...
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