INTERNATIONAL. The worldwide luxury goods market, once thought immune to the ebbs and flows of economic fluctuations, has begun to feel the effects of the worldwide economic slowdown and will likely enter a recession in 2009, this according to the results released today of the 7th edition of Bain & Company’s Luxury Goods Worldwide Market Study. But a surge in spending by high net worth individuals on luxury goods over the next five years, ranging between 20% and 35% in emerging markets including Brazil, Russia, China and India, coupled with the strength of several worldw
SAUDI ARABIA. Juicy Couture's shop in shop boutique at Saks Fifth Avenue Riyadh will feature the latest collection of ultra-comfy, stylish and chic clothing, shoes, handbags and accessories.
UAE. Handcrafted 18k yellow, white and rose gold multi-strand necklaces, bracelets, hoop earrings and rings. Accenting the glamour further, are several pieces boasting prong-set diamond brilliants.
INTERNATIONAL. British supermodel Naomi Campbell told the Sierra Leone war crimes court Thursday she had been a given pouch containing a few small diamonds while in South Africa
INTERNATIONAL. The triangle pattern has taken nearly 9 months so far, and a move over US$19.50 could start a multi-month run targeting US$26-US$29 per ounce for starters before a broad pullback.
UAE. Given the recent developments in Saudi Arabia and India, there is now a greater level of hope that the TRA and RIM will reach an agreement about the manner in which BB Messenger services are provided.
UAE. GCC Telecom markets are on the verge of saturation, while prices decline due to increasing competition, resulting in telcos profits being under very high pressure.
INTERNATIONAL. Masood Ahmed, Director of the IMF's Middle East and Central Asia Department, described the flooding as a "human catastrophe that is still evolving." Reconstruction costs expected to run into billions of dollars.
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