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Playstation Store opens in Riyadh
Al Faisaliah Group Holding, Saudi Arabia's sole distributor of Sony products, has announced the opening of the first PlayStation Store in the Middle East in the Saudi capital, Riyadh. With over 75% market share in the gaming sector across the kingdom, the new store will offer the entire range of PlayStation Network content for PSP and PlayStation 3, along with gaming accessories and solutions.
Nokia N900 to hit UAE stores
Nokia has said that its Nokia N900, the company's latest mobile computer based on open source Maemo 5 software, will be available in retail stores in the UAE next week. The new handset features the ARM Cortex-A8 processor with up to 1GB of total application memory, 5Mpx Carl Zeiss camera, and an expandable built-in 32GB storage capable of storing up to 7,000 songs or 40 hours of DVD-quality video.
UAE consumer confidence rises
According to Nielsen's Global Consumer Confidence Index, consumer confidence in the UAE has increased by 13 points from 89 to 102, ranking it the 8th most optimistic nation amongst 54 countries surveyed. UAE consumers are still spending cautiously by cutting down on buying new clothes and switching to cheaper grocery brands, the report said.
Gap opens new store in Dubai Mall
A new GAP store has been launched by Al Tayer Group at the Dubai Mall. The new store is the thirteenth of 29 Gap stores scheduled to open across the Middle East, following a franchise agreement between Al Tayer Group and US-based Gap Inc.
Lulu expands into Saudi Arabia
Lulu Hypermarket, the retail arm of UAE-based Lulu Group, has announced it will open its first hypermarket in Saudi Arabia tomorrow, Arab News has reported. Located in Alkhobar, the firm's 76th hypermarket in the Gulf will feature an extensive supermarket section, as well as a number of other outlets including jewellery shops, optical centre, coffee shop and a food court, an antique shop, pharmacy, money exchange centre and several other branded outlets.
Danube opens new retail complex in UAE
Danube Building Materials has opened its new Dhs20m 'Danube Buildmart' retail complex in UAE emirate of Fujairah. The 35,000 square feet facility is the fifth branch of Danube's retail complex concept in UAE.
Dubai Shopping Festival to begin January 28
The 15th Dubai Shopping Festival will commence on January 28, organizers have announced. The dates of Dubai Shopping Festival 2010 and Dubai Summer Surprises, which will be held from June 17 to August 7, were announced at the World Travel Market 2009 in London.
S T Dupont opens in Kuwait
Kuwait-based luxury goods retailer, Habchi & Chalhoub Group has opened Kuwait's first S. T. Dupont store at the Avenues Mall, Al-Watan Daily has reported. With stores in Qatar, Dubai, Bahrain and Saudi Arabia, the group has announced it will open two more S. T. Dupont stores in Beirut and Cairo by the end of this year.
Valleydez opens in Wafi
Valleydez, the 'Valley of Designers', has announced the opening of its first boutique in Dubai at the Wafi Shopping Mall. The new store will showcase a selection from leading and emerging international designers, as well as a range of fashion accessories including jewellery, clutch bags, footwear, eyewear and hair ornaments.
Abu Dhabi to ban plastic bags
Abu Dhabi's Centre of Waste Management has drafted a resolution banning the use of plastic bags at shopping centres in the emirate, WAM has reported. The resolution has been submitted to the Executive Council for approval. Plastic bags will be replaced with paper or cloth ones. The proposal imposes a fine of not less than Dhs10,000 against offenders.
Damas agrees $165m repayment plan
The Board of Damas International has said that the three Abdullah brothers have given a formal commitment to repay $165m to the company over the next 18 months. As part of the settlement agreement, the Abdullah brothers have pledged to pay an amount of $55m within six months; an aggregate of $110m within 12 months; and an aggregate of $165m within 18 months. The Abdullah brothers have also pledged 350 million of their shares in the firm that would be transferred in whole or in part back to the company in the event that the terms of the settlement agreement are breached.
MAF Shopping Malls to spend $4bn on Mideast expansion
Majid Al-Futtaim Group plans to spend about $4bn on as many as 10 new malls in the Middle East, Shahram Shamsaee, senior vice president of retail for MAF Shopping Malls, told Bloomberg. "It's about $4 billion," Shahram Shamsaee, senior vice president of retail for the group's MAF Shopping Malls, told Bloomberg. MAF Shopping Malls plans to enter Syria by building two new centers in Damascus, as well as one in Beirut, Lebanon. The company will also announce a new project in Saudi Arabia, Shamsaee said, declining to provide further details to the news service.
Pinkberry opens in the Mall of the Emirates
M.H. Alshaya Co. has launched the first Pinkberry shop in the UAE at The Mall of Emirates, offering healthy non-fat frozen yogurt in three flavours of original, green tea and pomegranate. Rich in calcium, vitamins and minerals, Pinkberry yogurt has been certified by the National Yogurt Association of the US, the company said. Alshaya plans to expand the Pinkberry network throughout the gulf region, with an opening in Bahrain in the works.
Gold sales in Dubai recover
Dubai's retail gold traders expect a faster recovery for the sector than in other Gulf countries, as an increased number of tourists and slightly more stable gold prices in October have boosted demand. 'After the Indian festival of Diwali we feel that demand has picked up again because the price of gold has gone down, and I think it is going to be stable,' M P Changappa, sales manager at Chammaur Jewellers told Reuters. Retail gold volume in the UAE had dropped 18% in the second quarter compared with the same period last year.
Liali launches interest offer to attract customers
Dubai-based jewellery retailer, Liali Jewellery has launched a promotion to offer customers fixed-period zero percent interest payments. The promotion is in partnership with several banks and credit card companies in the UAE. Citibank, Emirates NBD, Barclays, RBS and Najm will offer six months at 0% interest, while ADCB has three, six and 12 months of interest-free instalments.
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