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1836 Sprungli choc opens in Dubai
Confiserie Sprungli, a 170-year old Swiss chocolatier has opened an office in Dubai to cater to growing demand in the Middle East. The company adheres to a tradition of artisan-produced chocolates and cakes and joined with international courier services so that their products can be delivered from Switzerland to any destination globally within 48 hours.
United Arab Emirates: Monday, May 05 - 2008 at 09:26

Savola expands in Egypt
Savola group has announced that it plans to up its sugar refining capacity in Egypt by over 50% over a two-year period. The Saudi Arabian company will invest $150m on a new refinery that will produce over 200,000 tonnes per year while also expanding capacity at its existing plant to 950,000 tonnes per year.
Egypt: Sunday, May 04 - 2008 at 08:33

Christie's Dubai sells $20m
Christie’s third auction in Dubai realised a total of $20m. The auction sold 68% by lot and 78% by value. Christie's noted 48% of buyers were from the Middle East and 33% from Europe, including the UK.
United Arab Emirates: Saturday, May 03 - 2008 at 10:19

Iranian sculpture breaks record at auction
Iranian Parviz Tanavoli's 'The Wall' was sold for $2.84m at a Dubai art sale, setting an auction record for a Middle Eastern artist. London-based Christie's said it sold more than $20m of art in the auction, its fourth in the city. Six works by Iranian artists were among the seven priciest lots sold.
United Arab Emirates: Thursday, May 01 - 2008 at 13:47

Carrefour freezes prices
The Carrefour supermarket chain in Qatar has frozen prices on 50 items until the end of 2008. The chain, which has three outlets in Qatar, says that the move is to help counter rising inflation, which grew to a record high of 13.74% in December 2007.
Qatar: Thursday, May 01 - 2008 at 11:33

Mars seeks $1bn in sales in ME
Mars GCC, a wholly owned subsidiary of Mars, Inc, one of the world's leading food manufacturers, is seeking to grab a larger share of the region's $2bn snack food market by tripling its business to $1bn in sales by 2015. The company also said it plans to invest about Dhs400m ($109m) to expand its Jebel Ali factory in the UAE over the next few years. The company has been growing by more than 20% on average annually over the last five years in the region.
Thursday, May 01 - 2008 at 07:38

Rare necklace sold for $1.2m at Dubai auction
A 19th Century antique pearl necklace given to Egyptian singer Umm Kulthum by the late Sheikh Zayed, founder and ruler of the UAEH, has sold for $1.2m at a Christie's auction held in Dubai on Tuesday, reported Gulf News. The necklace, as well as 178 other rare jewellery pieces and watches, were up for sale at the acution. Christie’s said it expected to raise more than $20m from the sale.
United Arab Emirates: Wednesday, April 30 - 2008 at 09:34

UAE loves Big Macs
The fast-food chain McDonald's is cashing in on the region's booming growth, selling an average of 24 million sandwiches a year to the UAE population of 5.1 million residents plus tourists, reported Gulf News. The company has seen 10-20% annual growth in 2007, and plans to open 10 new outlets in the UAE this year, said Rafic Fakih, managing director of Emirates Fast Food Company, the franchisee of McDonald's Emirates. The average cost of a McDonald's restaurant is Dhs1.5-Dhs2.5 million ($409k-$681k) and the investment in the 10 new branches will be Dhs20-Dhs25 million.
United Arab Emirates: Wednesday, April 30 - 2008 at 07:10