2006
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Bahrain gold traders boost
Gold traders in Bahrain have seen a 40% jump in business prior to the Eid festivities, reported the Gulf Daily News. The Bahrain Chamber of Commerce and Industry said the growth in sales has built up during the final week of Ramadan. Business was slack previously and sales are once again expected to decline when the Eid holiday is over.
Download threat to music stores
Music stores in the Middle East could face an uncertain future once Internet penetration levels increase and more people download music according to a media expert cited in Gulf News. Duri Al Ajrami, the MD of Igency, said that downloading was the fifth most popular activity for the region's Internet users. Dubai's Virgin Megastore plans to introduce its own online music sales site next year to broaden its sales base.
Eid shopping boom in Doha
Doha's retailers have been enjoying brisk business over the past week with the early release of salaries by government departments and private companies allowing shoppers to get ready in good time for Eid, reported The Peninsula. Many outlets are offering special holiday discounts, while shops selling textiles, perfume and jewellery have been particularly busy.
RAK price hike anger
Shoppers in Ras Al Khaimah have seen prices jump in the run up to Eid and want the local authorities to step in, reported Gulf News. The prices of clothes, shoes, meat, fish and other items have seen steep hikes and consumers feel that certain public markets are now too expensive for lower income families. The RAK Municipality says, however, that there is no law that can fix prices.
Gold and jewellery sales up
Gold and jewellery sales in the UAE have been surging in the lead up to major holiday festivals Eid Al Fitr and Diwali, Gulf News reported. Dubai-based Damas says sales are up 60% on standard months, and are currently running at 23% higher than at the same time last year. The jewellery retailer expects diamond purchases to make up 30%-40% of sales.
Doha games village row
Several countries are complaining about a shortage of accommodation for their athletes at the Asian Games being held in Doha, Gulf News reported. The $500m athletes' village was built to house 10,000 people, but 13,500 competitors and officials will now need accommodation. Doha officials say some countries have gone over their quotas to take advantage of the free accommodation, and will have to make their own arrangements.
Hard Rock Cafe denies AD deal
Restaurant chain Hard Rock Cafe has denied reports that it had awarded an Abu Dhabi franchise to Planet Group, Gulf News reported. Hard Rock Cafe Middle East says discussions are still open to anyone wanting to open a franchise anywhere in the UAE, except Dubai. But Planet Group says it is close to signing a deal.
Starbucks adds new blends
Starbucks has introduced new coffee flavours into its Saudi outlets, Arab news reports. Arabian Mocha Java Arabian is made up of coffee from Java in Indonesia and Yemen, with flavours such as cranberry, orange, chocolate and blueberry. Other blends include Arabian Mocha Sanani, Gold Coast blend and Caffee Verona.
i2 opens new Dubai store
Mobile phone provider i2 has opened a new retail outlet in City Tower 1 on Dubai's Sheikh Zayed Road. i2's retail network in Dubai now consists of stand-alone stores on Naif Road and Airport Road, at Dubai Internet City, Dubai Media City and the American University of Dubai as well as store-in-store shops at CompuMe Garhoud and Mall of the Emirates.
AD gold trade boost
The upcoming festival season, with Eid and Diwali around the corner, and lower prices have given a boost to Abu Dhabi's gold trade, reported Gulf News. Indians, large consumers of the yellow metal, tend to buy gold jewellery during festivals. The drop in the price of gold to around Dhs66 per gram from over Dhs70 has also provided a stimulus. But retailers fear sales will decline after the festival period.
UAE to shun terror game
A new board game called War on Terror: The Boardgame is to be released in the UK shortly but it may not reach the UAE retail market, reported Gulf News. The British makers of the game have been heavily criticised for exploiting terrorism for their own profit and UAE retailers such as Magrudys and Toys R Us have said that they would not stock anything unpopular or controversial.
Dubai jewellery trade praised
An international expert has praised Dubai's jewellery retail trade and claims it should be the model for other markets in the region, reported Gulf News. Roland Lorie, the CEO of the International Gemmological Institute, said that Dubai's traders had developed a clear process of certification whereby the quality of diamonds and stones was clearly indicated to customers. He called for countries like Saudi Arabia and Kuwait to follow Dubai's lead.
Games torch relay begins
The 15th Asian Games Torch Relay began in the streets of New Delhi last week, the first stop on its 50,000 km route around Asia. The relay will be the longest in the history of the games, travelling to 15 countries and regions in 55 days, before returning to Doha seven days prior to the opening ceremony of the event on December 1.
Saudi retailer, 90 new stores
Saudi-based retailer Fawaz Abdulaziz Alhokair & Company says it will open 90 new stores in the kingdom by the end of Ramadan. It will have 54 new stores in four new malls - the Hayat and Venicia malls in Riyadh, Abraj Al Bait Mall in Makkah and City Mall in Al Shifa'a. Existing malls will get 36 new stores.
Carrefour opens at AlKhobar
Carrefour opened a hypermarket in AlKhobar, the French retail chain's first in Saudi Arabia's Eastern Province, according to Arab News. Three more are planned for the province. It has 20 stores in total across the UAE, Qatar, Oman, Egypt and Saudi Arabia.
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