Retail Turkish consumer confidence rebounds in July from record low Turkey’s consumer confidence index rose by 7.4 percent to 68.0 points in July, official data showed on Wednesday, after hitting a record low of 63.4 points in June as surging inflation and a beleaguered lira weighed further on sentiment. The biggest improvement was seen in the general economic situation over the coming 12 months, with […] July 22, 2022
Retail Online shopping spikes demand for Dubai warehouse space The growth of the online retail sector during the pandemic has resulted in a surge in demand for warehouse facilities in Dubai, according to new data. The UAE online retail sector will be valued at $8 billion by 2025, up from $5 billion in 2021 and $2.7 billion in 2020, according to a report published […] July 22, 2022
Analysis Retail Luxury retail rebounds from Covid in the GCC The GCC’s luxury retail market has made a quicker than anticipated recovery following the coronavirus pandemic. An increase in local spending has been a major factor driving the upturn, together with the expansion of the personal luxury market in Saudi Arabia. Figures from Bain & Company show that the GCC luxury goods market shrank by […] July 21, 2022
Food & Drink UAE restaurants call for rent cap as inflation bites UAE restaurant operators have called on the government to introduce a cap on how much landlords can increase rents. A survey carried out last month by the UAE Restaurant Group (URG), a trade body which represents around 15,000 outlets, found that 63 percent of respondents said rent renegotiations was their biggest focus for 2022, followed […] July 21, 2022
Tourism Qatar Airways could revive order for 25 737 MAX airplanes Qatar Airways could revive an order for 25 Boeing 737 MAX airplanes at the Farnborough Airshow, sources told Reuters. On Monday, Qatar CEO Akbar Al Baker confirmed that a provisional deal to buy at least 25 of the Boeing planes had lapsed. Boeing and Qatar Airways declined to comment Wednesday but two sources said the […] July 21, 2022
Exclusive Retail Vision giant Magrabi eyes IPO and global expansion Magrabi Retail could be set for international expansion and an upcoming IPO, according to Amin Magrabi, CEO of the Middle Eastern ocular powerhouse. With 142 stores, an estimated market share of 40 percent, 1,350 employees and revenue of $220 million a year, Riyadh-headquartered Magrabi Retail plans to double in size by 2025. “International expansion is […] July 20, 2022
Tourism Saudi Arabia plans lifestyle hotels in new $400m deal Lifestyle hotel brands such as Mama Shelter, The Hoxton and 25hours are set to debut in Saudi Arabia as part of a new $400 million deal. The kingdom’s Tourism Development Fund (TDF) today announced the signing of a tripartite deal with Ennismore, the world’s largest and fastest-growing lifestyle hospitality company, and Saudi-based asset manager Al […] July 20, 2022
People & Lifestyle 20 MENA innovators to watch Meet the young game changers who have set their sights on transforming the Middle East and North Africa July 20, 2022
Tourism UAE’s Rotana expands further into Egypt with Luxor property Rotana, the Abu Dhabi-headquartered hotel management company, has signed a new agreement to operate a property in Luxor, as Egypt continues to be the dominant player in Africa’s hotel sector. The five-star Luxor Rotana in Egypt’s historic city is set to open in the fourth quarter of 2023. The UAE hotelier operates around 100 properties […] July 20, 2022
Analysis Economy Sheikh Mohamed underlines ties with France on first foreign trip The Louvre Abu Dhabi is perhaps the most visible symbol of the flourishing relationship between the UAE and France. The museum on Saadiyat Island, which opened in 2017 under an agreement between the two governments, is said to be France’s largest cultural project abroad. Given this backdrop of cultural and commercial ties, France was a […] July 19, 2022
Retail Factfile: Companies that have sold their businesses in Russia Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they scramble to comply with sanctions over the Ukraine conflict and deal with threats from the Kremlin that foreign-owned assets may be seized. The moves, part of a broader corporate exodus from the country, are likely to […] July 19, 2022
Tourism Emirates boss says travel sector must ‘tough it out’ until 2023 The president of Dubai’s Emirates, which has clashed with London’s Heathrow over its cap on capacity, said on Monday that the air travel industry would return to equilibrium in 2023 and must “tough it out” until then. Speaking at an event at the Farnborough airshow, Tim Clark criticised Heathrow managers for failing to anticipate the […] July 19, 2022
Tourism Qatar Air chief says home-working ‘epidemic’ fuels travel chaos The head of Qatar Airways has said an “epidemic” of home working has contributed to staff shortages that are being widely blamed for travel disruption in Europe this summer. The aviation sector is struggling to secure the staff needed to cope with a post-pandemic surge in air travel, prompting London Heathrow airport to impose curbs […] July 19, 2022
Tourism London-Dubai ticket sales spike despite chaos at Heathrow Ticket sales for London-Dubai flights in July and August have surged above pre-pandemic levels, even as Emirates has agreed to cap bookings from Heathrow in a bid to help the airport cope with its capacity crisis. “Current bookings, as of July 9, for July and August have climbed to 8 percent above pre-pandemic levels,” Olivier […] July 19, 2022
Tech Emirates-US joint venture opens world’s largest vertical farm Emirates Flight Catering (EKFC) and US-based Crop One have announced the opening of Bustanica, the world’s largest hydroponic farm, backed by an investment of $40 million. The facility is the first vertical farm for Emirates Crop One, the joint venture between the two companies, and is located near Al Maktoum airport at Dubai World Central. […] July 18, 2022
Tourism Airbus loses bid to use French blocking law in $1.4bn Qatar row A UK judge on Friday rejected an attempt by Airbus to invoke a De Gaulle-era law restricting the way it responds to foreign courts, as a high-profile dispute with Qatar Airways became mired in a growing debate over cross-border legal powers. Qatar Airways is suing France-based Airbus for $1.4 billion over damage to the painted […] July 18, 2022
Tourism Israel to boost Asia flights when Saudi Arabia opens airspace Israeli airlines plan to expand and open new routes to India and other Asian destinations after Saudi Arabia announced it would allow unfettered access to its airspace, a move that would save fuel costs and reduce flight times. In the absence of open relations between the countries, however, and given talks on including Oman in […] July 18, 2022
Analysis Food & Drink UAE restaurants bite back against Covid Most restaurants in the UAE are in a better financial position this year than they were before the pandemic, according to new data. Local eateries have bounced back with aplomb despite rising inflationary costs, a survey from the UAE Restaurant Group (URG) has revealed. URG, a trade body which represents around 15,000 outlets, said 69 percent […] July 18, 2022
Tourism Israeli minister foresees direct pilgrim flights to Saudi An Israeli official said on Saturday he expected members of the country’s Muslim minority to be able to fly directly to Saudi Arabia for pilgrimage by next year after the kingdom signalled new openness as it hosted US President Joe Biden. On Friday Riyadh said its airspace would be open to all carriers – a […] July 17, 2022
Analysis Food & Drink Gulf firms tap thirst for no-alcohol drinks On St Patrick’s Day this year Irish drinks brand Guinness seized the opportunity to promote one of its biggest innovations since its launch in 1759. Four years in the making, Guinness 0.0, a non-alcoholic version of the famous stout brew – first launched in the UK and Ireland in 2020 – has now gone global. […] July 16, 2022
How I got to the top Retail Nidhima Kohli, CEO, Beauty Tribe What does your company do? Beauty Tribe is the first regional beauty pure play e-commerce site offering customers a curated shopping experience provided by beauty professionals – with a unique three-hour delivery time. It improves on the experiences shoppers are having elsewhere online: struggling with many counterfeit products, long delivery times, or lacking information on […] July 15, 2022
Tourism Saudi Arabia to open airspace to all airlines, including from Israel Saudi Arabia said it would open its airspace to all air carriers, paving the way for more overflights to and from Israel, in a decision welcomed by US President Joe Biden who is due to visit the kingdom on Friday. The Saudi General Authority of Civil Aviation (GACA) said the country’s airspace was now open […] July 15, 2022
