Retail sector buoyant & healthy after first quarter

Retail industry had a sluggish last year but the first quarter of this year observes recovery with positive approach from consumers. Retail players are now moving ahead in confidence with reasonable growth compared to last year. Sales figures are soaring, giving the retail sector the much needed boost.
"The first quarter of 2010 was very healthy for us compared to 2009, and we had an increase in sales by over 22 per cent compared to the same period last year," Jimmy Patel, General Manager, Jacky's Electronics told. "We, as retailers, feel confident moving forward now compared to 2009. I believe that the UAE is now slowly but surely recovering from the global financial turmoil and it is critical that retailers, together with the mall developers, work more closely to create opportunities and continue with their offerings to the consumers who is now more in a 'will buy' mindset than the earlier one of 'no buy' where the emphasis was on saving than spending," he said.

Dubai Investment

Heavy rains lead to 50 people death in Saudi

Past four days of heavy rains has claimed the life of fifty people and injuring 385 in Saudi Arabia. Heavy rains and flooding have created havoc in Saudi. Around 250 people were rescued following flash flood in Bisha, Asir, on Saturday. Director of the Traffic General Administration, Major General Sulaiman Bin Abdul Rahman Al-Ajlan, have warned motorists to drive carefully after 4,596 traffic accidents were recorded due to the wet weather.
The air wing of the Civil Defense had received 2,100 distress calls from stranded people. Since Wednesday, heavy rains have disrupted normal like in Riyagh, Hail and Najran causing heavy flooding.

Light rains to greet UAE this weekend

Meteorological department predicts that conditions at sea could be rough on Friday due to light moderate showers this weekend. Similar shower was witnessed on different parts of the UAE on Wednesday. Weather forecast predicts rain in Qatar, the Arabian Gulf and along its edge with clouds moving over UAE, the western and coastal areas of the country. The meteorological department recorded partly cloudy to cloudy conditions for the entire country on Wednesday.

Light, sporadic rain was felt in different area in Al Ain, along with the Western region and UAE islands in the Arabian Gulf. Winds blowing at up to 50 kilometers per hour generated five- to six-feet-high waves off the Gulf coast and the conditions are expected to prevail through the weekend. According to the National Centre of Meteorology and Seismology, partly cloudy to cloudy weather will continue today and tomorrow, with chances of light rain. Wind speeds are expected to be moderate. But some open areas may see dusty conditions. This could reduce visibility, particularly in the interior areas. Conditions at sea will be moderate to rough tomorrow.

Coastal areas yesterday saw a low of 22 degree celsius and high of 33°C; interior areas a low of 20°C and high of 41°C; and mountainous areas a low of 16°C and high of 30°C.

Dubai Investment

Dubai International Financial Centre (D.I.F.C)

The Dubai International Financial Centre was conceived by the Government of Dubai for the benefit of the UAE and the wider region as a whole. Its remit is to create a regional capital market, offering investors and issuers of capital world class regulations and standards.

About Dubai Property

• Investment in real estate & assets in UAE
• Minimum investment starting from USD 50,000
• Capital growth between 12-15% pa
• An investment term of 3 years
• Participate in the profits & receive dividends
• Investing in diversified portfolio of properties
• Access to transactions not available to public at bottom prices