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Majid Al Futtaim net profit is $735m
The Group reported a 12% increase in EBITDA to $1.25 billion.
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Pacts boost presence of Saudi-made products on market shelves
Saudi authorities have signed agreements with big retail stores in the kingdom to promote the ‘Made in Saudi Arabia’ program, which has resulted in some retail stores fill 70 percent of their stocks with locally manufactured products. Under the agreements, signed by Saudi Exports Development Authority, large stores allocate platforms... -
Retail sector in Gulf region stares at slump in business
Market experts predict a hard summer for the GCC retail industry as rising costs keep shoppers away from malls and stores amid soaring inflation and high cost of fuel. -
AI, cloud tech revolutionizing Middle East retail sector
Real-time shopping platforms accessible via multiple channels and featuring high-definition live streaming as well as personalized services are boosting client engagements. -
Aldar Properties profit up 44 percent
Net Profit of Aldar in Q2 2022 amounted to $229 million. -
US stocks rise on strong retail sales, positive Citigroup results
Wall Street stocks rose early Friday as markets cheered unexpectedly strong US retail sales and better-than-expected results from Citigroup. After a pair of grim readings on US consumer price and wholesale inflation the last two days that pressured stocks, markets were pleased by data showing US retail sales jumped one... -
Luxury brands in GCC look to metaverse for expansion
Virtual fashion and technologies will enable us to reduce our carbon footprints and the strain on the planet. Fashion firms can now design a new digital fashion collection for the audience, which they can show and launch in the virtual domain on virtual models without producing additional waste and clothes,... -
Dubai’s luxury retail on the rebound
The government initiatives make the emirate a safe refuge for both inhabitants and tourists which has fuelled consumer activity. Expat-friendly laws have brighten up the prospects for growth in luxury retail sector. -
Blue-chip shares surge as Wall Street stocks bounces back
Investors remain cautious as to whether China will ease its zero-Covid policy, which has added to the disruption of the world's supply chains. -
Regional economies look up as Ramadan boosts retail
How does Ramadan, a time for spiritual reflection, impact economies of the region as markets open after an ease in COVID-19 curbs? Here are indepth reports from TRENDS. -
DFF to support tech startups in luxury retail challenge
Dubai Future Foundation (DFF) has announced the launch of a new, first-of-its-kind initiative in the region to encourage and support tech start-ups to participate in a special challenge. The challenge is to utilize the latest technologies and innovations and contribute to the development of a quality and innovative experience for... -
Jordan saw its GDP grow 2.2% in 2021 as compared to 2020
The numbers come from a quarterly statistical report released on Sunday by the Department of Statistics. -
DEWA to increase shares for retail investors to 760 million
DEWA has decided to increase number of shares from 260 million to 760 million to be offered to retail investors in its Initial Public Offering (IPO). -
Smartphones, net speed fuel Saudi ecommerce boom
Pablo Martinez, Managing Director and Senior Partner at the Boston Consulting Group, sheds light on what lies ahead for the sector in the kingdom. -
GCC retail electronics set for boost as buyers return
The retail electronics sector has proliferated in GCC countries, with demand rising not only due to the urge to own the latest technologies but also because more and more people are working and learning from home, he adds. Dubai Chamber, meanwhile, has claimed ecommerce businesses might generate up to $8... -
Post-Covid retail outlook bright in GCC
Saudi Arabia and UAE, two biggest economies in the Gulf Cooperation Council region, rely heavily on retail industry. -
Amazon closing bookstores, pop-up shops to focus on grocery chain
E-commerce titan Amazon on Wednesday confirmed plans to close its bricks-and-mortar bookstores and pop-up shops in order to focus on the Whole Foods grocery chain and retail outlets featuring its latest auto-checkout technology. According to a spokesperson, the company will shutter its Amazon 4-star, Books, and Pop Up stores. Amazon... -
Arada awards two contracts
The $32.13m contracts are aimed at development in Masaar. -
Emirates opens office in Fujairah
The office is located in Al Ghilaila Building, overlooking the Fujairah corniche. -
Tibbiyah closes IPO at $22 million
Fully owned by Al Faisaliah Group, Tibbiyah is a leading healthcare provider in Saudi Arabia and the region. -
Al-Dawaa of Saudi Arabia to launch IPO at $17.3 per share
Al-Dawaa, a pharmaceutical retail firm in Saudi Arabia, has set the price range for its initial public offering at SR65 ($17.3) to SR73 per share. -
Policy reforms help Saudi FDI inflow rise 326%
The Kingdom seeks to increase its net FDI inflow by 1,816 percent between 2021 and 2030, raising it to $103.5 billion annually by 2030, up from $5.4 billion in 2020. -
Moody’s ranks QIIB ‘stable’
It has also has assigned the Qatari bank an A2 rating. -
Ecommerce changes GCC buyers, sellers forever
As ecommerce expands, companies are becoming more aware of the region's shifting consumer behavior and needs, say experts. -
Growing Islamophobia hits Islamic banking in Europe
The $2.2-trillion Islamic finance industry is set to take off in a big way across the world as it recovers from the Covid-19 pandemic. But it may not be the case in the Europe. -
Tourism, retail to fuel Dubai economy growth in 2022
The insights from the Dubai Chamber study were released during a business seminar titled The Road Ahead: UAE and Dubai Economic Outlook and Opportunities in Dubai Exports. They pointed to a positive and robust recovery for the UAE economy over the next five years. -
Emirates Stallions acquires stake in WFC
Acquisition aimed at diversifying Emirates Stallions' business. -
India police charge Amazon executives over online drug sales
Indian police have charged executives from Amazon's local arm over claims the US retail behemoth's online portal was used to smuggle and sell marijuana. -
Tabreed ups cooling-scheme stake
The exclusive scheme supplies Al Maryah Island in Abu Dhabi. -
Emaar Malls net profit leaps to $169m in H1
The owner of Dubai Mall attributes 80 percent jump in net to recovery in retail sector. -
French firm to turn grain from Lebanon blast into compost
A French firm aims to turn tonnes of rotting grain at Beirut's devastated port into compost, the company said , nearly a year after Lebanon's worst peacetime disaster ravaged its silos. -
Saudi economy picks up pace as spending drives growth
The macro-economic conditions in Saudi economy are improving Encouraged by spending in many sectors, the overall health of the economy is positive Spurred by spending in the local market such as retail, transport, health, and food and beverages sectors, the overall health of the Saudi economy has shown improvement in... -
Fifth edition of arab luxury world draws to a successful close
The fifth edition of arab luxury world, the Middle East’s leading conference on the business of luxury, has drawn to a successful close. This year, regional and global experts from the world of luxury converged at the JW Marriott Marquis Dubai, to discuss ‘The New Consumer, Consumption, and Change.' The...