UAE. Classic brands are playing by different rules today to grow in the new markets of the East. But is the “New Look” worth it?
The continued growth of emerging markets like the Middle East and China are “transforming the luxury industry”, said Claudio D’Arpizio, a Bain & Company partner and lead author of its ‘Spring 2011 Update: Luxury Goods Worldwide Market Study’ upon the report’s release in May. “Luxury has made a brilliant return to the retail stage, but the script has been re-written” to suit both the escalating demand and the new consumer.
The Chalhoub Group,
UAE. HBL Irtiqa'a is specifically for SMEs who have been operational for three years or more and want to develop and expand their business; the new offering enables investment in essential growth elements such as new premises, equipment and inventory.
SAUDI ARABIA. Strong demand fundamentals combined with increased public and private sector spending pushed up the average sales price; Momentum expected to continue as Riyadh attracts and promotes investment in industrial and supporting logistics facilities.
SAUDI ARABIA. The Saudi Arabian index is the region's most diverse capital market due to its size and maturity; Jadwa Investment views the opening up of the Tadawul as an overall positive but believes a cautious and considered path to reform is the best way forward, much like the Chinese example.
INTERNATIONAL. "With business operations in both the UK and the GCC, BLME has made significant progress in the first half of the year"; The Group increased its Operating Profit before Impairment charges by 177%.
UAE. Dubai World, the state-owned company at the center of the emirate's 2009 financial crisis, reached a deal with its main creditors to extend the repayment of US$10.3 billion of debt, according to people with knowledge of the matter.