In a fresh development, the central bank of United Arab Emirates has agreed to conditionally remove a UAE loan transfer ban on personal loan transfers between the various UAE banks.The central bank imposed a three month ban on the...
Barclays is carefully assessing its UAE retail banking operations and may consider options that could lead to a sale of the business.Sources familiar with the matter have disclosed that the British bank, fourth-largest by market value in its home...
A new global survey, covering shopping trends all over the world, reveals the MENA region is home to some of the most impulsive and brand-conscious shoppers in the world.The latest edition of the Nielsen Global Survey of Consumer Shopping...
GCC countries continue to attract high investment in the retail sector and perform strongly compared to other emerging markets.The 13th edition of AT Kearney’s Global Retail Development Index (GRDI) highlights that four GCC countries have retained their position in...
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...
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...
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...
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...
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,...
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...
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...
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...
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...
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...
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....
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...
With annual sales now exceeding AED 30 billion (US$8.2 billion), the market of luxury goods continued to witness impressive growth in Middle East. According to a new study, the luxury goods market recorded a growth of 10 to 15...
GCC’s retail sales are expected to grow at a CAGR of 7.7% to reach US$ 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...
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...
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...
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...
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...
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...
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...
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,...
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...
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...
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...
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,...
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...
This year Wal-Mart Stores Inc. has been struggling to keep its image as the store that offers the lowest prices.THE STORYIt has managed to show profits over the second quarter but its low-income customers worried about job security, rising...
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 PromotionThe high price growth...
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,...
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...