The CSI300 blue-chip index is now up nearly 30% from its February trough
Almost 8 million tourists visited the emirate, branded as the City of Gold, last year, many of them lured by the tax-free jewellery. But retailers Reuters spoke to say the have seen far fewer tourists this year due to the economic crisis.
“In June sales were down about 30 percent from last year. Because of the hot weather and economic conditions less tourists are here to shop,” said Sanjay Jity, a shop keeper from Al Khaledyah Jewellery in the old souk, or market.
The higher price of gold has also deterred buyers, another salesman at the souk said. The retail price of 22 karat gold was around 101 dirhams per gramme, 20 per cent higher than last year, he said. “Many people now can’t afford these prices,” the salesman said.
Retailers in Dubai’s gold souk believe the slow sales will continue until the end of September and might pick up by the end of the year as the economy recovers.
The CSI300 blue-chip index is now up nearly 30% from its February trough
The Indian state invites foreign investors and non-resident Indians to avail opportunities in one of the fastest growing economies of the world
Epic will also raise its competition concerns with regulators in the European Union
The Operation Chivalrous Knight 3 team distributed potable water to areas where displaced people have gathered in Khan Yunis
The closure of Ratcliffe-on-Soar marks a symbolic step in the UK's ambition to decarbonise electricity by 2030, and become carbon neutral by 2050
UK's Starmer reiterates region needs to pull back from the brink
GDP expanded by 0.5% in second quarter vs +0.6% in poll
Alexander Permyakov confessed to the crime saying he had acted on instructions from Ukraine's SBU security service and was promised $20,000 to complete the job, says Russian state media