Thursday 30 October 2014
 
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Emaar Malls Q3 net profit surges 55pc

Dubai's Emaar Malls Group (EMG), a unit of Emaar Properties, made a net profit of Dh321.18 million ($87.5 million) in the third quarter of the year, up 55.2 per cent from Dh206.97 million ($56.3 million) in the corresponding period of 2013. The retail and malls unit of Dubai&

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Zilzar, a Muslim lifestyle marketplace is unveiled

Zilzar.com, the leading global Muslim lifestyle marketplace platform for information, content, community and trade to target the massive $2.5 trillion Muslim consumer market, was launched during the 10th World Islamic Economic Forum in Dubai recently. Zilzar is a business-to

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Smartphone woes drag Samsung profit to 3-year low

Samsung Electronics saw its July-September quarterly profit fall to the lowest level in more than three years, as a decline in earnings from its smartphone business set the South Korean giant on track for its worst year since 2011. The global smartphone leader has lost market sha

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NREC signs deal with UPAC to develop Reem Mall 


National Real Estate Company (NREC), a leading real estate developer in the Middle East and North Africa (Mena) region, has signed a new partnership with United Projects for Aviation Services Company (UPAC) to develop Reem Mall, a retail destination in Abu Dhabi. Under the deal,

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Gitex Shopper records over $70m in sales

The Gitex Shopper 2014, a leading bi-annual consumer IT and electronics show in the Middle East, generated an estimated Dh259 million ($70.5 million) in sales. The participating retailers and world brands delivered the latest tech products to the market, and welcomed more than 21

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Van Cleef & Arpels reopens Dubai boutique

Van Cleef & Arpels has  reopened its boutique in Dubai, UAE, following an “enchanting” redesign. The newly transformed boutique at the Dubai Mall was inaugurated in the presence of Alban Belloir, Van Cleef & Arpels Managing Director of Middle East and India, as

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China sourcing show draws 1,000 firms

China Homelife Dubai, which has grown to be the biggest Chinese products sourcing platform in the Mena region, returns to Dubai, UAE, next month. The expo will run between November 25 and 27 at the Dubai World Trade Centre. With a steady 16 per cent annual trade gr

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Panasonic to sell Sanyo TV unit in US

Panasonic Corp plans to sell its Sanyo television unit in the US, which supplies sets to Wal-Mart Stores , to Funai Electric as it steps back from unprofitable businesses, the Nihon Keizai newspaper reported. The sale of the unit, which ships about 1 million set to the US retaile

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Majid Al Futtaim to open $683m Mall of Egypt

Majid Al Futtaim is set to invest 4.9 billion Egyptian pounds ($683.4 million) in the construction of the Mall of Egypt. Top government officials including Ibrahim Matlab, Egyptian Prime Minister along with Ashraf Salman, Ministry of Investment and Dr Mostafa Madbouli, Minister o

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Tesco chief to quit over finance blow

The chairman of Britain's biggest grocery chain, Tesco, resigned after the company reported a bigger than expected hole in its finances and said accounting transgressions went back further than initially thought. Tesco, Britain's biggest private employer and once the jugg

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