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Dubai's economy reaches Dh473bn in first half of 2026 as key sectors expand | The National

Economy shrinks 2.3% despite growth in finance and healthcare

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Business

Western Brands Under Pressure as 'Pre-owned' Luxury Booms in China

With China's economy still struggling to recover from the pandemic, even global fashion icons are beginning to feel the pinch as consumers turn instead to the second-hand market or buy upstart new homegrown brands. Chinese were once massive buyers of luxury Western brands, accounting for around a third of worldwide spending and earning firms such as LVMH and Hermes billions of dollars.

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