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Retail and consumer news from the Middle East. All the important stories, exclusive interviews, plus authoritative opinion and analysis

A shopper at Bahrain duty free. The company’s board has recommended a cash dividend of BD4.9 million for 2024

Bahrain duty free operator’s 2024 earnings rise 17%

Bahrain Duty Free Shop Complex, the operator of duty free shopping at the country’s international airport, said net profit increased 17 percent to BD5 million in 2024 compared to BD4.3 million a year ago. Total income increased to BD3.4 million, rising 44 percent year on year. Profits from investments reached BD6.1 million last year, up […]

Tabby may raise additional cash before its listing after being valued at $1.5bn in its funding round in 2023

Tabby hires three global banks for Saudi listing

Tabby, the buy-now-pay-later startup backed by Abu Dhabi sovereign wealth fund Mubadala, has appointed three global banks to oversee its potential initial public offering (IPO) on the Saudi stock exchange. The company has brought in HSBC Holdings, JPMorgan Chase. and Morgan Stanley to finalise the flotation process, Bloomberg reported, citing informed sources. The plans are still in the early […]

Adnoc Distribution said fuel volumes rose 8.7 percent year-on-year to 15 billion litres in 2024

Adnoc Distribution to spend billions on M&A deals

$2bn to spend Interview with strategy officer Listed in 2017 Adnoc Distribution, the UAE’s largest fuel and convenience retailer, is looking to deploy $2 billion in potential mergers and acquisitions in the Middle East and beyond, a sen... Register now: It’s easy and free This content is available for registered members only. Register for your […]

Lulu said net profit in the fourth quarter fell 57 percent to $65 million due to higher lease expenses in Saudi Arabia and Qatar

Lulu’s 2024 profit strong but fourth quarter takes a hit

Lulu Retail, the largest grocery retailer in the GCC, said 2024 net profit rose 12 percent to $249 million from $222 million in 2023, thanks to new store rollouts and improved margins. Revenue increased 5 percent year on year to $8 billion, driven by strong performance in Oman, the UAE and Saudi Arabia, the company […]

cash withdrawals people shopping Saudi Arabia

Cash withdrawals in Saudi Arabia rise for first time in 5 years

Cash withdrawals in Saudi Arabia in 2024 increased for the first time in five years, helping to underpin a rise in consumer spending, the local advisory company Jadwa Investment has reported. Consumer spending in the largest Arab economy rose by nearly 7.5 percent for the year and the value of point of sale (POS) transactions […]

Men queue for tickets at a lottery stand in Turkey. The UAE Lottery has a weekly jackpot of AED100m

UAE Lottery operator in talks to sell tickets in shops

The UAE Lottery’s operator is in talks to sell tickets in shops across the country. The weekly draw and spin-off games were launched in December, for online play only. Bishop Woosley, director of lottery operations at The Game, which manages the draw, said discussions had been held with retailers to allow ticket sales as early […]

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United Arab Emirates

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United Arab Emirates

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United Arab Emirates

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