uae
Affluent conversation, Part II
UAE may be one of the biggest luxury markets in the world, but it is certainly not immune to the current economic slowdown. Particularly vulnerable is Dubai, a city fueled towards boomtown status thanks in part to a debt-riddled real estate explosion. A Financial Times analysis explains that “as oil prices, the main driver of [...]
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Affluent conversation, Part I
“We hold these truths to be self-evident, that all men are created equal.”
Thomas Jefferson forgot about luxury consumers.
This elusive class exists above and beyond the proverbial “invisible hand” of the market that guides consumers and producers to mutual prosperity or demise, to a large extent shielded from market turmoil and the mood swings of the [...]
The UAE can’t afford to turn shoppers into savers
In the US, with the economy stalling, the government earlier this year handed households a $1,200 tax rebate with the instruction to ‘go out and spend’. It’s hoped this stimulus will get the economy moving.
In the UAE, the government now decides consumers are shopping a little too much. Taking out loans to buy sparkly handbags, [...]
UAE MoE meets retailers and traders for the Holy month of Ramadan
The UAE Ministry of Economy (MoE) met with federal and local government bodies; cooperative societies; and UAE-based local and foreign retail companies to discuss domestic market conditions and coordinate plans for the Holy month of Ramadan.
The religious occasion is set to begin sometime in September.
Participants discussed plans and actions to ensure the availability of goods [...]
A tribe without a sheikh
In ancient Arabia tribes often lived in complete isolation, answerable to no one but themselves. To ensure security and safety, each tribe would elect a sheikh – a head or chieftain – responsible for policing the members of the tribe, administering justice and acting as a watchdog over all tribal activities.
The days of tribes wandering [...]
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