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Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules in the bloc, 34 digital organizations complained to the European Commission this week. They include app makers Epic Games and Spotify. "We are very concerned that Apple’s proposed scheme for...
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Google to pay US$700m to US consumers
It is an antitrust settlement made public recently. -
GCC media outlets think outside the box to stay afloat
Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche" content. -
GCC media outlets think outside the box to stay afloat
Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche" content. -
Tech-empowered shoppers drive Saudi consumer behavior: PwC
Riyadh, Saudi Arabia -- Saudi Arabian consumers are navigating the market with heightened awareness, becoming better-informed buyers, according to the PwC's latest Middle East Pulse report, a segment of its comprehensive Global Consumer Insights Survey. Emergence of Informed Buyers The survey underscores a notable shift in consumer behavior as Saudi... -
US retail sales, industrial production post April gains
Retail sales in the United States returned to growth in April fueled by a rebound in motor vehicle sales, data released showed, but not by as much as many expected. The US Federal Reserve has hiked interest rates 10 times in a row since last year in a bid to... -
AI, ML make banks in MENA region smarter and faster
The artificial intelligence is expected to play a significant role in shaping the future of region's financial services, Tarabut Gateway CCO Adnan Erriade tells TRENDS. -
Funding gap, consumer apathy peter out sustainability in Middle East retail
There’s a critical mass of shoppers who talk of making a difference with their purchases. Consumers are willing to pay more for products with a positive environmental impact or health benefits. For younger people millennials in particular, sustainable shopping is a mainstream preoccupation, they add. -
Gulf retail sector turns to metaverse as consumers seek complete and immersive experience of products
Agile brands, especially luxury ones with sizeable marketing budgets, have readily tapped into the metaverse, creating exclusive NFTs and new revenue streams, says an expert. -
Industrial manufacturers need to be proactive amidst rising rates, skilled labor crunch and fewer subsidies
Organizations that decide not to or are unable to act will continue to find themselves patching together reactive solutions to problems. If 2023 is a year of slowdown, instead of battening down the hatches, firms should use the opportunity to move toward smarter manufacturing, he adds. -
Online identity remains key concern as Middle East and Africa rank third in digital trust, data security
Banks come second after governments in terms of digital trust since over 60% believe they keep consumers' data confidential, while only 50% trust retailers in the region. -
Word of mouth eventually makes customers custodians of brands through trust and meaningful connections
People share ideas or content or experiences that reinforce their values or their sense of identity, which is good for their “personal brand”. There’s no better marketing than friends and family recommending products to their peers. Eventually, customers will become custodians of brands, he adds. -
BMW Q3 net profit US$3.1bn
Profit was due to high demand for pricier luxury models. -
UAE consumers hold the purse strings as soaring inflation affects wages, wealth and purchasing power
Consumers in the Gulf country plan to adjust their lifestyle by reducing their household and miscellaneous expenses over the next three months, a latest survey points out. -
Improved real-time payment infrastructure set to boost digital payments across GCC
With an estimated 209 million people making purchases online at the height of the pandemic, e-commerce in the MENA area has grown faster than anywhere else. -
Online spending set to rise as MENA shoppers start looking for products, offers ahead of holiday season
Consumers in the UAE, Saudi Arabia and Egypt are among the most excited to search for Black Friday compared to Brazil, UK, and US, Google’s internal data suggest. -
MENA firms need defense mechanism against inflation
Winning firm can still seize the current moment with bold, decisive actions to address the near term, while building strategies for the medium and long term. Supply chain resilience, operational productivity, design-to-value programs, and revenue growth management (RGM) shouldbe the key focus area, they add. -
AI-based call centers cut costs, ring in better KPIs
Conversational AI contact center deployment saves agents US$80bn in labor expenses by 2026, while global spending on it is expected to hit US$1.99bn by 2022, says a report. -
CBUAE launches new website with various services
The Central Bank of the UAE (CBUAE) has announced the launch of a new corporate website with various interactive digital services in promoting financial stability and meeting the aspirations of the consumers. -
German govt to relook huge gas levy amid outrage
German ministers vowed to reexamine a planned gas surcharge imposed on consumers after it emerged that some energy companies seeking a share of the levy were in fact posting billion-euro earnings. -
What’s next for e-commerce in post-pandemic world?
Post pandemic, the logistics sector is best placed to support e-commerce businesses in tapping the unlocked potential of the large and still untapped market. The Middle East, which is continuing to experience rapid growth in e-commerce, may get an additional push from the logistics sector, she adds. -
Clean beauty sector grows, so are greenwashing risks
In a positive development, the cosmetic industry at large is becoming greener. Approaches, however, are not always uniform or holistic across the board, say experts. -
Challenger banks struggle for market share in GCC
Net sentiment for traditional banks is higher than those for challenger banks as the former have a long history in the market and have proved to be trustworthy and reliable. -
Retaining customers rattles retailers as sales drop
From optimizing the purchasing ecosystem to driving personalization and developing schemes that help consumers with finance management, retailers must work harder. -
COVID-19 helps GCC grow its appetite for digital banking
Banks in the Gulf region were already on the path towards digitization, but the pandemic became the catalyst for accelerated change. As consumers got used to superior online shopping, health, and governmental services, they have increasingly been demanding that banks follow suit with their digital processes and offerings. -
Stocks gain as US report indicates fear of recession easing
Stocks rose Monday following a rally on Wall Street in response to data indicating US consumers remained resilient to surging inflation and higher interest rates, easing concerns about a possible recession. Market analysts widely expect the central bank to announce a 75 basis-point lift. -
Equities climb up on back of high US consumer spending
Stocks soared Friday after retail sales data showed that US consumers continue to spend more in the latest signal of the economy's resilience despite high inflation and rising interest rates. Wall Street pushed higher on a better-than-expected 1.0 percent rise in retail sales in June. -
Eid: Sharjah Economic Development Department to intensify market campaigns
Sharjah Economic Development Department (SEDD) said it is ready for Eid al-Adha to ensure the safety of markets through the intensified campaigns. This falls within SEDD’s concerns to protect consumers and ensure the safety of markets. SEDD explained that joint inspection campaigns are organized with Sharjah City Municipality and Sharjah... -
Yiwu Market of Dubai ready to welcome consumers
Yiwu Market of Dubai, the first smart free zone market in the region, will open tomorrow, aiming to revolutionize the trading experience for both traders and consumers. -
Fuel prices hit record highs in Morocco
Petrol prices rose to record highs in Morocco on Thursday, fuelling anger among unions who demanded the government of energy tycoon Aziz Akhannouch act to protect consumers. Drivers in Morocco, which relies heavily on imported oil products whose prices have soared since Russia's invasion of Ukraine, must now pay 18... -
Why few brands lag behind in sustainability game?
The best brands take a cross-functional approach, embedding sustainability within divisions and business units while linking incentives to sustainability targets. These companies treat sustainability as if it were any other business process, Fabre adds. -
Demand surges as Ramadan returns
The shopping behavior has changed a lot in the region in past two years as consumers are looking for promotions and offers especially in food, perishables, groceries and home appliances. Studies suggest that consumers are spending more on cross-border goods, particularly consumer packaged products, during Ramadan this year. -
SEWA links up Al-Arqoub with its power grid
The Sharjah Electricity Water and Gas Authority (SEWA) will start to provide electricity to the Al-Arqoub area, aiming to meet the needs of consumers. -
Inflation pinches GCC consumers’ pockets
The wave of inflation continues to put pressure on consumers not just in the United States, Europe, and the Arab world, but also in the Gulf region. Economies in the Middle East are exposed to the global price fluctuations because of heavy import dependence. Localized factors like rental deflation and... -
CBD signs a debt financing deal with Postpay
Commercial Bank of Dubai (CBD) has approved a debt financing deal with Postpay, a leading omni-channel Buy Now, Pay Later (BPNL) provider in the Middle East. -
Most UAE consumers believe natural is healthier, says a survey
UAE consumers show a growing interest in natural foods, backed by the understanding that natural produce is the healthier choice, a survey has said. Nearly 60 percent of the participants agreed that the naturalness of the product influences their grocery choices, the highest of all markets, according to the survey... -
Lebanon telecom ministry’s budget to be based on two figures: Minister
Lebanon telecommunications ministry's budget would be based on two figures instead of one within the framework of the new state budget, said telecoms minister Johnny Corm. Corm said the first figure took into consideration the possibility of continuing to charge consumers the same current tariff, which is based on the... -
QFZA and Aspiration to bring sustainability services to MENA
Qatar Free Zones Authority (QFZA) and Doha Venture Capital (DVC) have signed an agreement with Aspiration to expand access to sustainability services in the region. -
Top oil producers to assess output amid pressure to open up the taps
The powerful producers led by Saudi Arabia and Russia in the so-called OPEC+ grouping are expected to re-affirm a decision in July to modestly step up production after slashing it steeply last year as the pandemic hit global markets. -
Dubai Economy, Golden Radiant help DED licensed traders to widen reach
Traders holding Dubai Economy's DED Trader license can digitalize their businesses by using SingleCart App and a complete line-up of the app's features to reach a larger number of consumers. Helping the traders in this is Dubai Economy's Business Registration & Licensing (BRL) sector, which has partnered with Golden Radiant... -
Dubai’s consumer confidence index jumps to 10-year high
Dubai’s consumer confidence index rose to its highest level in a decade during the third quarter of 2021, the Dubai Economy reported on Sunday. -
46% UAE consumers expect effects of pandemic to last another year
Increased vaccinations, protective measures, contactless in-store experience key to rebuilding UAE consumers' confidence 73% of consumers admit to have changed their shopping habits to adapt to the 'new normal' About 46 percent of UAE consumers expect the effects of the Covid-19 pandemic to last at least another year, according to...