Luxury retail in the UAE had shown signs of a rebound over summer after the pandemic struck, but has flattened since the start of October.
That's according to the CEO of Chalhoub Group, Patrick Chalhoub, who was speaking at the 'Back to Business' webinar hosted by Dubai Eye.
He's expecting sales to stay soft till the end of the year.
But Chalhoub says the increase in online shopping has been dramatic.
Mubadala announces $600M investment in Nord Anglia Education
Abu Dhabi-based Mubadala Investment Company has signed an agreement to acquire a $600 million (around AED 2.203 billion) minority stake in private school operator Nord Anglia Education.
Shein, Temu to hike prices under pressure from Trump's trade policies
Chinese online marketplace Temu and fast-fashion retailer Shein will raise prices on their products next week as US President Donald Trump's crackdown on low-value imports and sweeping tariffs increase expenses for the companies known for their low-priced offerings.
US issues new sanctions targeting Chinese importers of Iranian oil
The United States on Wednesday issued new sanctions targeting Iran's oil exports, including against a China-based "teapot" oil refinery, as President Donald Trump's administration seeks to ramp up pressure on Tehran.
IATA: Aviation sector contributes $92 billion to UAE economy
A new study from the International Air Transport Association (IATA) has revealed that aviation and related tourism contributed $92 billion (AED 337.9 billion) to the UAE’s economy in 2023, making up 18.2 per cent of the country’s GDP.
Nvidia faces $5.5 billion charge as US restricts chip sales to China
Nvidia said it would take $5.5 billion (AED 20 billion) in charges after the US government limited exports of its H20 artificial intelligence chip to China, a key market for one of its most popular chips.
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UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
Apple Inc. shares fell Monday after a closely followed analyst warned that demand for the firm’s new iPhone 16 Pro model has been lower than expected. Is this a sign that the AI software just isn’t ready?
Does working from home kill productivity or can it benefit staff by giving them more flexibility and a better work/life balance?
Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?
Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!
