BLOOMBERG The opening of Costco Wholesale Corp’s first store in southern China has drawn massive crowds, with customers queuing for hours as the country’s economic slowdown fuels a budget shopping boom. Tens of thousands of people lined up outside the warehouse club’s latest outlet in Shenzhen, a tech hub neighboring Hong Kong, before its doors opened on January 12, …

BLOOMBERG Burberry Group Plc slumped after the UK trenchcoat maker slashed its profit forecast, a fresh sign that demand for luxury goods, particularly in the US, is waning. The British retailer wiped nearly £100 million ($128 million) off its profit outlook in the starkest sign yet that after an unprecedented surge in luxury sales during the pandemic, the bubble has …

DUBAI / WAM Brand Dubai, the creative arm of the Government of Dubai Media Office (GDMO), has partnered with the Dubai Culture and Arts Authority (Dubai Culture), to showcase the unique culinary creations of homegrown businesses from the ‘Proudly from Dubai’ network at the ‘Al Marmoom: Film in the Desert’ festival. The third edition of the festival, organised by Dubai …