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...
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...
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...
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...
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...
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,...
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...
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...
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,...
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...
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...
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...
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...
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...
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...
The Ministry of Economy (MoE) has confirmed the news that prices of essential commodities, including vegetables will be reduced up to 25% during the Holy month of Ramadan. The list includes food items such as rice, oil, flour, tea,...