Carrefour in talks over Saudi curfew challenges

The coronavirus outbreak has led to a big increase in sales at Carrefour stores in Saudi Arabia. (Supplied)
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Updated 25 March 2020
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Carrefour in talks over Saudi curfew challenges

  • MAF CEO Alain Bejjani: We are engaging with the (Saudi) government to try to get some special process for delivery to people during curfew hours
  • MAF said that there had been a 50 percent rise in online sales this month, sales of liquid cleaners and soaps were up by about 1,000 percent, while there was also big demand for freezers

DUBAI: The company that runs one of the biggest supermarket chains in Saudi Arabia, Carrefour, is in talks with the government to try to ease some of the Kingdom’s curfew restrictions amid an unprecedented boom in home grocery deliveries during the coronavirus COVID-19 outbreak.

Alain Bejjani, chief executive of Dubai-based Majid Al Futtaim Group (MAF), told Arab News that delivery orders had soared more than 50 percent across the region. Saudi Arabia recently extended curfew hours to slow the spread of the disease.

“Restrictons on travel are making things difficult everywhere and Saudi Arabia is no exception. We are engaging with the government to try to get some special process for delivery to people during curfew hours,” Bejjani said.

“We fully support the measures that have been taken, but even if there is a curfew, there is a need to make it as comfortable as possible for people. The government has been very understanding,” he added. 

One suggestion is for a special license to enable delivery workers to be on the streets during curfew hours.

Saudi Arabia is to lengthen the curfew hours from 3 p.m. to 6 a.m. on Thursday, and has also announced curbs on travel between different cities and provinces in a move to prevent transmission of the COVID-19 virus. Longer curfew hours also impact the Carrefour workforce which has to travel to stores or delivery depots.

Bejjani said that increased travel restrictions would have an impact on its regional delivery systems. A lot of the produce its sells in the UAE and other regional markets is manufactured in Saudi Arabia. “Saudi Arabia is very important as a consumer market, but it is also a big production center for us,” he said.

But he was confident that the region would not see the kind of panic buying witnessed in European supermarkets, where shelves have been stripped of goods by worried shoppers. He said that MAF has a strategic stock of goods for three months supply to its outlets, in contrast to roughly 40 days reserve in Europe.

“People in Europe thought they might run out, but we have more in reserve. There has been no panic buying in our stores,” Bejjani said.

But the virus outbreak has led to a big increase in sales at Carrefour stores in Saudi Arabia and elsewhere. MAF said that there had been a 50 percent rise in online sales in the first three weeks of this month, and that it was redeploying workers from elsewhere in the business to help cope with the demand.

Sales of liquid cleaners and soaps were up by about 1,000 percent, while there was also big demand for freezers in which to store perishable food, Bejjani said.

Some 1,015 workers in MAF’s leisure and cinema business had been retrained and redeployed in an ongoing program to re-skill them for supermarket work, either in-store or in fulfillment centers and other delivery roles. “It is heartwarming to see how agile and adaptable people can be,” Bejjani said. 
Around 7 new fulfillment centers have been opened in the region since the outbreak began.

MAF, which also owns the Vox cinema chain, has put its ambitious program of cinema construction on hold since the government ordered film theaters to be closed earlier this month. “Saudi Arabia is a great cinema market and we are looking forward to coming back as soon as possible, but right now it is impossible,” Bejjani said.

He added: “In times of uncertainty, our commitment to our community of customers, employees, tenants and suppliers only becomes stronger. While we are ensuring that our customers get what they need when they need it, we are working with all stakeholder groups to ensure that we come through these challenging times together.”


Silver crosses $77 mark while gold, platinum stretch record highs

Updated 27 December 2025
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Silver crosses $77 mark while gold, platinum stretch record highs

  • Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
  • Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years

Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.

Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation ‌as a US ‌critical mineral, and strong investment inflows.

Spot gold ‌was ⁠up ​1.2% at $4,531.41 ‌per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.

“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist ⁠at Zaner Metals.

Markets are anticipating two rate cuts in 2026, with the first likely ‌around mid-year amid speculation that US President Donald ‍Trump could name a dovish ‍Fed chair, reinforcing expectations for a more accommodative monetary stance.

The US ‍dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.

On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.

“$80 in ​silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next ⁠year,” Grant added.

Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.

On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.

Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.

All precious ‌metals logged weekly gains, with platinum recording its strongest weekly rise on record.