Footfall traffic to Dubai’s major malls started to build up on Thursday and is expected to swell this weekend as the Super Sale kicked off, with at least 1,500 retailers across Dubai cutting their prices by up to 90 per cent. Latest news from the UAE and around the world brought to you by Gulf News. See more at: http://gulfnews.com/videos
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00:00Across Dubai today, retailers are slashing their prices by up to 90% on the first day
00:07of the Dubai Super Sale. The Super Sale, which is an initiative created by the Dubai Festivals
00:13and Retail Establishment, is an initiative aimed at driving footfall to the malls and
00:17stimulating the retail sector. Over 1,500 retailers will be participating in the sale
00:23from malls like Dubai Mall, Berjiman, Deira City Centre and Mall of the Emirates. Product
00:28categories include make-up, jewellery and other kinds of clothing and the sale will
00:33run until Saturday, the end of Saturday in particular. In other news, the S&P 500 notched
00:39a new high on Thursday, gaining points after Apple released better-than-expected results
00:45for its Q2 earnings. The iPhone maker saw its share price jump by 6.37%, leading a technology
00:53rally in the index that saw the entire bourse lifted. And lastly, on Wednesday night, the
00:58US Federal Reserve voted unanimously to leave its benchmark interest rate alone, voting
01:03neither to raise it or to decrease it, despite calls from President Trump to cut the rate.
01:09The US Federal Reserve, led by Jerome Powell, took a wait-and-see approach, saying that
01:13they were not sure of any reason to move the rate up or the rate down and instead, unsure
01:19of where the US economy was headed, they would leave the rate alone until the next policy
01:23meeting. That's all from us today. You can find the latest headlines on gulfnews.com.
01:27Thanks very much for watching. We'll be back on Sunday.