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    FTA launches world’s first tax refund system for e-commerce retail purchases for tourists

    FTA launches world’s first tax refund system for e-commerce retail purchases for tourists

    16 Dec 2024

    The Federal Tax Authority (FTA) announced the launch of a new VAT refund system for E-Commerce Retail Purchases for tourists during their stay in the UAE, which is considered...

    Retail sales in S.Korea see record decline

    Retail sales in S.Korea see record decline

    03 Nov 2024

    South Korea’s retail sales continued to decrease fortwo and half years, led by weak demand across durable and non-durable goods, government data showed Sunday. The index for retail sales reached...

    Sharaf Group announces expansion plans

    Sharaf Group announces expansion plans

    27 Sep 2024

    Gulf Network Residents and tourists flocked at the latest location of a UAE-homegrown retail brand on Friday, south of Dubai. Even before the regular 10 a.m. operation hours, a...

    UAE, S.Arabia to drive expansion of GCC retail industry

    UAE, S.Arabia to drive expansion of GCC retail industry

    27 Sep 2024

    Alpen Capital’s latest retail sector report for the GCC projects the industry to witness growth at a compounded annual growth rate (CAGR) of 4.6 per cent between 2023 – 2028,...

    Weak China factory output, retail sales add to urgency for stimulus

    Weak China factory output, retail sales add to urgency for stimulus

    14 Sep 2024

    China’s industrial output growth slowed to a five-month low in August, while retail sales and new home prices weakened further, bolstering the case for aggressive stimulus to shore up the...

    Eleven of UAE’s leading e-commerce retailers sign new Compliance Pledge

    Eleven of UAE’s leading e-commerce retailers sign new Compliance Pledge

    19 Aug 2024

    Eleven of the UAE’s leading e-commerce retailers and platforms have joined forces with the Ministry of Industry and Advanced Technology by signing the Compliance Pledge. This significant step is aimed...

    RBI signs pact with 4 ASEAN countries for instant cross-border retail payments

    RBI signs pact with 4 ASEAN countries for instant cross-border retail payments

    01 Jul 2024

    India has joined Project Nexus, a multilateral international initiative that aims to enable instant cross-border retail payments through interlinking payment systems of various countries. Nexus was conceptualised by the Innovation...

    Middle East beauty industry set to reach $47b by 2027

    Middle East beauty industry set to reach $47b by 2027

    21 May 2024

    Inayat-ur-Rahman, Business Editor DUBAI: The Middle East beauty industry is estimated to be worth $47 billion by 2027, and new players are seeking to tap the booming market. Avanta...

    India’s retail inflation eases to five-month low in March

    India’s retail inflation eases to five-month low in March

    14 Apr 2024

    India’s annual retail inflation rate eased in March to a five-month low helped by a drop in fuel prices, government data showed on Friday, but economists say a rate cut...

    Olayan and Lunate buy a 49% stake in ICD Brookfield Place

    Olayan and Lunate buy a 49% stake in ICD Brookfield Place

    08 Apr 2024

    Gulf Today, Staff Reporter Investment Corporation of Dubai (ICD) and Brookfield Corporation (Brookfield) announced an agreement with Olayan Financing Company and Lunate for the sale of a 49% stake...

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