A toy story set in Dubai is top read
Online readers like to mix business with pleasure, if the clicking habits of visitors to our website are any measure.
Our interview with Nabil Daud, CEO and MD of Retail Arabia, the company that owns the local Hamleys franchise, was the best-read story at www.emirates247.com last week.
But hot on its heels was a breaking news story about further slides at the region's stock markets.
Fashion, banking and further interest in a story about investment in Somalia also caught the eye as readers looked for stories to help them switch off from the busy working week. Hamleys remained a hot topic as shoppers flock to the vast store in The Dubai Mall, no doubt with their children in tow demanding the latest toys, games and gadgets for Eid or Christmas.
Undoubtedly, Hamleys – a sister store to the famous London shop – is a breath of fresh air for the toy market in the UAE.
As soon as people walk through the red and white balloon-covered entrance, it offers a true interactive experience, with marching bands and magicians sure to keep children hooked for hours (if only their parents had that time to spend there). It is testament to the dedication of Hamleys' staff that they remain enthusiastic throughout the day – but getting paid to play with toys is not a bad way to earn a living.
Hamleys' second franchise in the UAE will open next year at Mirdif City Centre, so Dubai is set for more fun and games in the retail industry.
However, The Dubai Mall faced some teething troubles initially, with some complaining of lengthy delays to get into the car park, too few shops being open, and a lack of printed guides to help navigate the huge centre, but it still hasn't put people off.
And being a business newpaper, it is unsurprising that movements on the stock markets drew in a large number of online readers last weekend. Dubai Financial Market and Abu Dhabi Securities Exchange continued to fall.
Overall, it fell for seven consecutive sessions between November 6 and November 16, but by the close of play last Thursday it had fallen 25 per cent in a week.
Du was the worst hit with shares plunging 9.9 per cent, with Dubai Islamic Bank and Emaar falling 8.7 and 5.63 per cent respectfully.
Some people believe the hydrocarbons industry makes the country immune from the worldwide crisis. Only time will tell. We are yet to see just how bad the problem will be, but along with a downturn in real estate it implies there are worrying times ahead.
Having said that, there appears to be a silver lining for local banks who have the opportunity to capitalise on the downfall of international banks such as Merrill Lynch and Citigroup, which have not only suffered financially but sustained damage to their reputation. As we reported It's Out with the Old…, local analysts believe now is the time for local financial institutions to seize the opportunity to make gains – financial and otherwise – and raise their profile on the international stage.
Elsewhere, designers are increasingly seeing the UAE's menswear market as a growing possibility. Duchamp London has become the latest high-end brand to open a stand-alone boutique in the country, following Cole Haan, while Oscar de la Renta is on the horizon.
Yet again they have all chosen The Dubai Mall as the place to do it, proving all the big names want to be in the country's biggest mall.