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Saudi shopping slump

  • Saudi Arabia: Saturday, May 20 - 2006 at 08:49

Shopping malls in Saudi Arabia are feeling the pinch of the recent slump in share prices, reported Reuters. The luxury end of the market has suffered a sharp decline in sales as the Saudi bourse's value has fallen. Some shops in Jeddah's malls have reduced prices by 70%, while a number of luxury goods and jewellery retailers have reported a drop of up to 25% in sales in Q1.

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