Gulf stock markets pulled back with oil prices on Wednesday while a negative sales forecast by a major Saudi retailing chain hurt the bourse in that country. A couple of blue chips favoured by foreign investors boosted Egypt's market.
British retail sales unexpectedly rose in December as shoppers flocked to supermarkets and bought more fuel as oil prices fell, providing a boost for the country's economic recovery that has shown signs of softening.
The number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly a month, a hopeful sign for the labor market, while holiday retail sales rose in November and December.
Bahrain's retail sales nearly doubled during the last weekend, powered by a record number of visitors from Saudi Arabia, said a top official.
According to Credimax senior manager and head of merchant services and sales Amira I
The pace of the euro zone's economic contraction slowed quarter-on-quarter in the first three months of this year, EU statistics showed on Wednesday, but retail sales in April pointed to continued weakness in household demand.
Retail sales in the GCC are expected to grow at a CAGR of 7.7 per cent between 2011 and 2016 to reach $270.3 billion by the end of the forecast period, a report said.
Food retail sales are anticipated to expand at a CAGR of 8.8 pe
Smartphones will represent 19 per cent of annual retail store sales by 2016, amounting to $689 billion from the current 5.1 per cent translating into $159 billion in forecasted sales for 2012, a report said.
By comparison, direct mobile
Retail sales in GCC will grow at a compound annual growth rate (CAGR) of 8.3 per cent between 2010 and 2015, reaching $240.3 billion by the end of the period, said a report.
Growing per capita GDP and disposable income, expanding populatio
Sony Corp sees little cheer in the normally robust year-end shopping season amid global consumer gloom and has few options to cope with the euro's tumble against the yen, a senior official said.
"Looking at Europe and North America overall
Retail sales have recorded a remarkable increase in the first half of Dubai Summer Surprises (DSS) 2011, and according to industry officials, the influx of GCC visitors is expected to further drive sales in the coming weeks.
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