UAE RETAIL INDUSTRY
A $176 billion reality check for Europe’s luxury brands as Middle East tensions hit shoppers
A distant war is impacting global luxury sales. Europe's top luxury firms have lost billions in market value. The Middle East, a key growth market, is seeing reduced tourist spending due to travel disruptions and uncertainty. This slowdown affects major brands like Hermès, Gucci, and LVMH. Recovery for the luxury sector faces delays as geopolitical risks persist.
ET Prime Special Series: Multibagger or Bankrupt - Part 54: Will manufacturing capability help this firm move into defence space?
The auto ancillary sector is being forced to answer a difficult question: When technology changes, which suppliers remain relevant and which get left behind? This company stands out because it is not built around one narrow-end market. It has automotive at the centre, but also has exposure to engineering, defence, aerospace and other industrial segments. That wider presence offers some support. Still, the main issue remains unresolved. A meaningful part of its current auto-linked basket belongs to the old combustion era, while its manufacturing capability may still travel into newer applications. This is less a collapse story and more a test of adaptation.
India Inc pulls back a bit from Gulf as cracks widen across operations
Indian consumer companies are scaling back West Asian operations due to steep losses and a fivefold surge in container costs amid the US-Israel-Iran war. Expansion plans are on hold as some businesses see up to a 40% decline, with mass consumers leaving the region.
UAE markets surge, firms stay cautious
UAE stock markets saw a significant rally following an overnight Iran-US ceasefire. Investors expressed relief after days of regional tensions. However, businesses are adopting a wait-and-see approach. They need more clarity before making crucial decisions. Retail businesses are experiencing an initial boost. Other sectors remain cautious about future developments.
UAE draws up economic shield plan to counter Iran war fallout
The United Arab Emirates is preparing a contingency economic plan. This plan aims to protect the economy from disruption and boost long-term growth. Measures include liquidity support for businesses and large-scale investments in key sectors. Authorities are assuring investors of support and a strategy to counter capital flight risks. The government is also planning public housing to attract talent.
Iran's Gulf attacks put India’s money flowing engine into one of the toughest tests
India's essential remittance inflows are confronting an extraordinary obstacle. The intensifying turmoil in West Asia is fueling anxiety among millions of Indians working abroad. This turbulence could drastically reduce the money transferred home, potentially weakening India's financial standing. Analysts express concern over a looming decrease in remittances, with potential repercussions for the current account and currency health.
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Iran war puts Middle East Dubai oil benchmark under stress as prices soar
The halting of oil exports through the Strait of Hormuz has left the Dubai Middle East benchmark, the price used to value nearly a fifth of global crude supply, in a perilous position.
UAE shoppers pull back and stash cash as war drags on
UAE households are cutting back on non-essential spending and saving more. This shift comes as the Iran-Israel conflict continues. Fuel prices have also seen a significant increase. Many consumers are now prioritizing essentials. Luxury purchases are particularly affected. This change in behavior reflects growing financial caution among residents.
UAE slows down from Gulf war stress; raises remittance concerns for India amid layoffs, pay cuts
The United Arab Emirates economy faces early stress as the Gulf war continues. Sectors like hospitality, travel, and food & beverage are seeing job cuts and salary reductions. Businesses are prioritizing survival over revenue targets. This economic slowdown could impact remittances to India. Many companies are adopting measures similar to the Covid-19 pandemic to manage the situation.
Gulf crisis drags down gold demand
Chains such as Malabar Gold & Diamonds, Kalyan Jewellers, Joyalukkas and Titan Company's Tanishq, which together command a significant presence in the region, are seeing weak footfall and cautious spending, even as most stores remain open in markets such as the UAE.
UAE retailers tap alternative ways to fill food aisle
Dubai retailers are finding new ways to bring goods to the UAE. A truck is traveling from London to Dubai carrying snacks. This land route bypasses shipping disruptions. Other retailers are flying in food from India. These efforts ensure supermarket shelves remain stocked for consumers. The UAE is actively monitoring food prices.
Petrol, diesel rates to be reviewed every 15 days, government says
Fuel prices will now be reviewed every two weeks. This move comes as global crude oil prices surge due to the West Asia conflict. The government is closely monitoring the situation. Domestic LPG production has increased significantly. Supply decisions are being calibrated to prioritize Indian consumers. Key industries are receiving essential fuel supplies.
How US-Israeli war on Iran is upending global business
The ongoing U.S.-Israeli conflict with Iran has created a ripple effect across the fabric of global trade. Businesses are feeling the pinch of rising energy costs and shortages of fundamental raw materials that fuel their operations. With crucial trade routes in jeopardy, everything from food supplies to auto parts is at stake.
RBI takes stock, asks banks to detail West Asia exposure
The Reserve Bank of India is assessing bank exposure to West Asia. This move follows the Iran war's impact on global bonds and energy supply chains. Banks are asked for details on direct and indirect exposures. This includes companies with regional subsidiaries and retail banking through NRIs. The RBI aims to plan potential relief measures if the situation prolongs.
Brigade Enterprises expands annuity portfolio, explores new asset classes for growth
Brigade Enterprises is expanding its real estate business. The company is focusing on rental income from offices, retail, and hotels. New ventures include industrial parks and senior living. Strategic land purchases in southern India are fueling this growth. Demand for commercial property remains strong, positioning Brigade for future expansion.
Indian Crude Basket: What it is, why it’s not Brent, and why the $146 number matters more than you think
Are you getting anxious hearing news about Brent crude at $110? What we will tell you could make you even more anxious: India’s official crude basket – comprising mostly Oman/Dubai sour crude – is at a much higher $146.09. Why this $40-per-barrel gap? This gap is not some glitch – it’s a fiscal worry. This story is about the Indian crude basket: What it is, how it’s constructed, why it diverges from Brent, what premium India is really paying, and what it means for your money.
Madhavan makes urgent appeal for Dubai taxi drivers, urges UAE residents and tourists to help out amid Iran-US war
Actor R. Madhavan has urged UAE residents to support taxi drivers struggling with low earnings amid the ongoing Middle East conflict. Sharing an Instagram Story, he highlighted that even small tips through Careem can make a big difference, as the platform currently matches tips to double the benefit for drivers. The appeal comes as Dubai’s tourism sector faces a sharp slowdown, with empty beaches, quiet attractions, and falling hotel occupancy affecting workers who rely on daily income.
Stove Kraft, TTK Prestige shares rocket up to 9% after Iran’s attack on world’s largest LNG plant raises supply fears
Attacks on Middle East energy facilities have disrupted global gas supply. This has led to a surge in demand for induction cooktops in India. Companies like Stove Kraft and TTK Prestige have seen significant stock rallies. Restaurants are facing gas shortages, prompting a shift to alternative cooking methods. The situation highlights India's reliance on imported LPG.
Novus Loyalty IPO: Check price band, GMP, subscription and other details
Novus Loyalty's initial public offering opened for subscription on Tuesday. The company aims to raise Rs 60 crore through its IPO on the BSE SME platform. The issue includes a fresh share issue and an offer for sale by existing shareholders. Investors can subscribe until March 20. Shares are expected to list on March 25.
Rajputana Stainless IPO listing delayed. Check new date & other details
The listing of Rajputana Stainless has been pushed to March 19 after its share allotment was delayed and investors were given extra withdrawal windows. The IPO saw modest 1.12x subscription, driven mainly by QIBs and NIIs, while retail participation stayed weak amid muted grey market signals.
1 strait, 5 transmission channels: The ways in which higher crude oil prices will impact the Indian economy – and your portfolio
If oil prices stay over $100 for an extended period, it will impact everything from the household budget, the government’s fiscal arithmetic, RBI’s policy calculus, and your equity portfolio. It is not that we have not been in such a bind before. We have: In 2008, in 2013, in 2022. And each time, the economy has adjusted. But it has not done so without pain, and not without significant wealth transfers between sectors and asset classes.
Understanding crude oil: From exploration to pricing. It will impact Indian economy and stock markets for at least next 2 decades
Every morning, at over 100,000 petrol pumps across India, millions of people glance at the price board and carry on. A few rupees up or down, and life continues. But behind that number board lies one of the most complex, geopolitically-charged, and financially-consequential supply chains on the planet.
Dubai keeps shelves stocked even as war disrupts food shipments
The Middle East war is straining food supply chains in the UAE, which imports about 90% of its food, as disruptions in the Strait of Hormuz delay shipments of items such as rice, meat and coffee. Some cargo is being rerouted by air or road, while retailers like Lulu have started chartering cargo flights to keep supermarket shelves stocked.
War and travel insurance in times of Iran-Israel conflict: What is covered and what is excluded
Thousands of Indians in the UAE are stranded due to regional conflict and disrupted air travel. While airlines offer rescheduling, travel insurance typically excludes war-related losses, leaving travellers to cover extended stays and evacuations. Insurers are exploring policy adjustments for conflict-linked disruptions.
UAE bolsters food security, stocks shelves
The UAE is bolstering food security by reinforcing supply chains amidst potential regional trade disruptions. Retailers are submitting daily stock reports and securing alternative logistics, with the government absorbing increased freight costs. Chartered cargo planes are being utilized to ensure uninterrupted supplies of essential commodities.
Qatar shuts LNG output; supplies to India hit, city gas sector flags crisis
Qatar has halted liquefied natural gas (LNG) production after its facilities came under attack amid the ongoing West Asia conflict, disrupting supplies to India and squeezing feedstock availability for key domestic sectors.
Qatar halts LNG output after attacks; disruptions to hit Indian supplies, city gas firms flag concerns
Qatar has stopped liquefied natural gas production following attacks. This halts supplies to India, affecting industrial consumers and city gas companies. Petronet LNG cannot send ships through the Strait of Hormuz. This disruption impacts India's energy needs and domestic sectors. Companies are seeking clarity on future gas availability.
Indian fruit, vegetable exporters a worried lot as Iran war upsets all calculations
Iran war: Demand typically rises during Ramzan-Easter. Several exporters even source seeds and cultivate produce specifically for Europe, where January to April is considered a lean cultivation season. However, ongoing disruptions have upended shipment plans in a major way.
Qatar declares force majeure, gas supplies to Indian industry cut amid Iranian strikes
India faces significant energy disruption as Qatar halts liquefied natural gas deliveries. An Iranian drone strike has forced Qatar to declare force majeure. This halt impacts up to 40 percent of India's gas supplies. Industries are seeing cuts, while CNG and piped gas networks are prioritized. Companies are seeking alternative supplies in a firming spot market.
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