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Retail Q1 sales in Beirut down 14.4%
According to the Beirut Traders Association-Fransabank Retail Index, retail sales in the Lebanese capital fell 14.4% in the first quarter of 2013, The Daily Star has reported. "While the nominal figure for the first quarter of this year posts a decrease of about 3.7% in comparison with the first quarter of 2012, the real figure shows an acute fall that stands at minus 14.4%," the report said. The country’s strained politics remain the major reason behind the decline in retail activity, it said.
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McDonald's Mideast sales grew 0.9% last month
McDonald's Corp has said its sales in May at restaurants open at least 13 months rose 2.6% globally despite ongoing economic uncertainty, the Associated Press has reported. The world's largest fast-food chain said sales in the region encompassing Asia, the Middle East and Africa climbed 0.9%.
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Géant launches first online hypermarket in UAE
Fucom, the master franchisee for French hypermarket chain Géant in the region has rolled out the UAE’s first online hypermarket. Géant Online offers customers the opportunity to buy grocery items and consumer electronics from the comfort of their homes or mobile devices, said group business head at Fucom, Mohammad Ashfaq. “Géant Online has been designed to meet a growing need by online shoppers and also to tap into the huge market for online shopping in the UAE, which boasts of the highest Internet penetration rates in the region,” Ashfaq said.
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Bahrain's Durrat Marina to launch new retail development
Bahrain's Durrat Marina is preparing for the first phase of a retail development that will run alongside the marina, spanning 200 metres in length, Gulf Daily News has reported. The retail strip is being designed by Spanish design consultants HCP and will have 44 outlets with a total built-up area of around 5,200 sq m.
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DMCC holds UAE's first local pearl auction
Dubai Multi Commodities Centre (DMCC) has held a silent auction for UAE harvested pearls at the Dubai Pearl Exchange (DPE), Gulf Today has reported. The pearls have been provided by RAK Pearls, the UAE’s only commercial pearl farm, and marks the first time UAE cultivated pearls have ever been available for tender. According to DPE estimates, Dubai's pearl trade has grown tenfold in monetary terms over the past ten years, with re-exports to countries such as Bahrain, Lebanon, Japan, Hong Kong and Switzerland.
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