SAUDI ARABIA. A correction in the stock market failed to have a major impact on Saudi Arabia's economic performance last year. A report by the Kuwait-based Global Investment House (Global) on Saudi Arabia's economic and strategic outlook, said that the Kingdom's economy was in fact exceptionally sound and robust in 2006.
UAE. Consumption of luxury goods up 11% in the GCC, according to Bain & Company; China luxury market shows a shift in consumer preferences and ties to the GCC; In the UAE, Chinese represent about 2.5% of overall tourists, but account for 7% of the mall footfall and even bigger part of the spend.
UAE. "The dark clouds of protectionism" gathering over the air travel industry in Europe and the U.S. pose a significant threat to the millions of travellers who have benefitted from new choice in the market, said James Hogan, in a keynote speech in London.