top of page
All Articles
SAUDI ARABIA BREAKING NEWS


Richemont beats forecasts with 13% Q1 sales growth as jewellery surges — but Middle East dips 3% as Iran war keeps tourists away
Olorra high jewelry necklace Courtesy of Cartier ZURICH, May 22 — Cartier owner Richemont reported stronger-than-expected quarterly revenue on Friday, as demand in the United States and Asia offset weaker sales in the Middle East. Sales rose 13% at constant exchange rates to 5.40 billion euros ($6.27 billion) in the first quarter, above analyst forecasts of 5.30 billion euros, according to a Visible Alpha consensus. Jewellery sales rose 14%, supported by demand for Cartier, B
May 221 min read


Luxury sales fall in Dubai and Abu Dhabi as Iran conflict hits Gulf demand
People shop ahead of the holy month of Ramadan at the Mall of the Emirates in Dubai, United Arab Emirates, March 22, 2023. REUTERS RIYADH/DUBAI, April 13 - Sales at Europe's biggest luxury brands have fallen sharply in Dubai and Abu Dhabi as the Iran conflict disrupted what had been one of the industry's fastest-growing markets, in the latest setback for the $400 billion global luxury sector. Sales at the Mall of the Emirates in Dubai fell 30% to 50% in March from a year earl
Apr 141 min read


Ferrari Slides 16% on 2030 Targets; EV Tech Unveiled
📷 A Ferrari worker inspects a car inside the company's factory in Maranello, Italy, October 2, 2025. REUTERS/Remo Casilli Milan, October...
Oct 9, 20252 min read


Porsche Shares Drop 7% as EV Rollout Delays Slash Profit Outlook; Volkswagen Warns of €5.1B Hit
📷 The Porsche logo is displayed on a vehicle at the exhibition pavillion for Porsche, on the day of the IAA auto show in Munich,...
Sep 23, 20252 min read


Sotheby’s to Hold First Luxury Marquee Auctions in Abu Dhabi This December
📷 Life's a beach: the St. Regis Saadiyat Island Resort will form the backdrop of the auctions. Courtesy Sotheby's. Abu Dhabi, August...
Aug 31, 20252 min read
bottom of page