Luxury retail in the UAE had shown signs of a rebound over summer after the pandemic struck, but has flattened since the start of October.
That's according to the CEO of Chalhoub Group, Patrick Chalhoub, who was speaking at the 'Back to Business' webinar hosted by Dubai Eye.
He's expecting sales to stay soft till the end of the year.
But Chalhoub says the increase in online shopping has been dramatic.
EU floats Black Sea model to unblock Strait of Hormuz
EU foreign policy chief Kaja Kallas said on Monday she had discussed with the United Nations the idea of freeing up transport of oil and gas through the Strait of Hormuz by replicating a deal that gets grain out of Ukraine during wartime.
US, China economic chiefs meet in Paris to clear path to Trump-Xi summit
Top US and Chinese economic officials launched a new round of talks in Paris on Sunday to iron out kinks in their trade truce and clear a smooth path for US President Donald Trump's trip to Beijing to meet with Chinese President Xi Jinping at the end of March.
US says oil from strategic reserve to start reaching market next week
The Trump administration said on Friday it expects early deliveries of oil from the US strategic petroleum reserve to reach the market by the end of next week as part of an effort to combat the energy price spike since the start of the Iran war.
Standard Chartered issues clarification on local operations
Standard Chartered Bank has clarified that reports of staff being evacuated from its Dubai offices are inaccurate.
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