Gold overvalued, new car sales on the rise and price comparison service
Study says gold is overvalued
‘Gold today looks like the ultimate high risk, low reward investment,’ according to Barry Norris co-founder and fund manager of Argonaut Capital Partners. Some 76% of respondents to a survey by the Chartered Financial Analyst Institute (CFA) still expect the precious metal to ‘plummet further in the next 12 months.’ The CFA believe that not enough was done to warn investors about overvalued assets before the crisis and the current overpricing of precious metals should be a matter of importance for CFA members to convey to their clients before they invest. More here…
New car sales will exceed the previous peak of 2008 in the UAE
The Middle East Automotive Council (MEAC) figures suggest that new car sales in the UAE will exceed the previous peak which was in 2008 just before the crisis hit. The projections indicate that sales are on target for 380,000 vehicles this year, up 23% on 2012 and 40,000 more than in 2008. In the high-end market Karl Hamer, managing director of Al Habtoor Motors' Bentley Emirates arm stated that they will sell 450 new Bentley’s this year against 10 sold in 2010. Many of the new car sales will likely be on credit or lease with a high percentage of personal loans going on cars and other consumer goods.
New comparison site for consumer products in the UAE
Initially Launched in Egypt in 2012, bkam.com has announced the launch of its comparison web site in the UAE, http://ae.bkam.com/ the Emirates version provides consumers information on a product, including price, and reviews. It offers a range of products, such as consumer electronics, cosmetics, clothes and accessories sourced from both online fashion brands and e-commerce sites. These include Souq.com, Namshi.com, JadoPado.com, Carrefour, as well as H&M and Zara.Through price comparison, the site aims to help consumers make the best choice in terms of price and quality when shopping for a product.