Dubai Government To Launch Supermarket Chain

The government of the emirate of Dubai in the UAE has announced its plans to establish a chain of supermarkets. The government has given few details, apart from saying that the name of the new chain will be Aswaaq and that it will raise a part of the capital for this new project by selling shares in an initial public offering in which it will sell the equivalent of 55% of the new company. With food prices skyrocketing and the government working to keep prices stable, these government-run supermarkets will likely target the lower end of the market, specialising in

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