Even though the economy is grim, big malls are opening around the world. We recently mentioned the opening of the Westfield Mall in London and now the Dubai Mall has officially opened boasting the largest number of retailers in the world.

As we mentioned earlier this year, the mall boasts a gold souk, a 10-million litre (2.2 million gallon) aquarium and an Olympic-size ice rink in addition to rows and rows of stores.

The mall is situated at the foot of Burj Dubai (Dubai Tower), already the tallest building on earth at around 700 meters (2,300 feet) and still under construction.
The mall is scheduled to house branches of some of the world’s best known retail chains, such as Marks and Spencer, Galeries Lafayette and even Bloomingdales, which has never before had stores outside the United States.

Who wants to be a billionaire? More than 40 impoverished Chinese tycoons who have lost their platinum status thanks to the world’s financial turmoil. As we have recently reported, some russian and Indian billionaires have been losing money since the beginning of the financial crisis, and, according to the Guardian, they are not alone !

There were 66 Chinese billionaires in 2007 but there are just 24 now due to the plunging Chinese stock market. The combined worth of the country’s 400 richest people has plummeted by 40% to a mere $173 billion since last year, new research has shown, and the top 40 lost 57% of their wealth according to Forbes magazine.

« Property magnates dominated 2007’s list, but the sales have slumped this year, wiping out 98% of Cheung Chung Kiu’s fortune. Last year, the boss of developer CC Land, stood at number 26. Now he is outside the top 400. »

Those who lost their money are hopeful that the tide will turn and they will be back up again soon. After all two years ago, there were only 15 Chinese billionaires. Source Luxist / The Guardian

Luxury brands make sure they look after their customers, at least in the high street. Online, it is another story. A recent article in the Financial Times shows that some of the smartest names in retailing struggle to work out how to use the web to interact with their clientele.

On the whole, luxury brands have neglected the potential of the Internet. Many luxury brands still prove poor at offering personalised custom service online, a keystone of what makes their brand high-end instores.

Are these brands underestimating how new technology and social networking tools can help build personal relationships and loyalty between visitors and the brand across global markets?
A missed opportunity for global connectivity or protection of the luxury brand? Therein lies the tension inherent in an online outlet: how do you expand your brand to mass consumers while retaining high-value buyers? For high-end luxury brands known for exclusivity, does an online presence make a brand too accessible?

Touted to be the most expensive cocktail shaker in the world, this one is shaped out of pure silver and 18 carat gold and caked with 480 sparkling diamonds. All set to be unveiled at the Bar Convent Berlin 2008, this bejeweled bar utensil comes packed in an exclusive leathered case.

The BOLS Diamond Shaker retails at a whopping 35,000 euros ($50,000). Hmmm… Wonder if my favorite bartender, Tom Cruise, would care to grab this ornamented cocktail shaker for a sequel to Cocktails…?

Thanks to Gideon Gono, the present Governor of the Reserve Bank and President Robert Mugabe, Zimbabwe now has the highest percentage of Billionaires per capita than any other country in the world.

Once dubbed the “bread basket” of Africa, Zimbabwe has been struggling with the world’s highest rate of inflation – 12,500,000% - and years of economic mismanagement under President Robert Mugabe.

Try looking at the numbers: 1.00 USD = 54,000,000,000 ZWD. (Live rates at 2008.07.29) But remember that Zimbabwe slashed three zeros off the currency in August 2006, so based on the pre-2006 Zimbabawe dollar, the numbers are even worse: : 1.00 USD = 54,000,000,000,000 ZWD

Notes in the millions of dollars are useful only as toilet paper and it’s cheaper to light a fire with low denomination bills than with newspaper. House prices and lottery prizes are quoted in quadrillions - that’s with 15 zeros.
A cup of coffee at a government-owned five-star hotel was 250 billion Zimbabwe dollars, or $US5.30 this week…

Zimbabweans says it’s only a matter of time before big ticket items will be priced in the quintillions, which have 18 zeros … Though, it doesn’t make sense to go to work any more and it could take now 10 years to rebuild the economy…

Well, I think I’ll just wait to go to Zimbabwe until next week, so I can be a Trillionaire. Or maybe next month, so I can be a Zillionaire and then I may be able to grab a giant sack of Zimbabwe dollars and throw it all over the bed before I make love ^_^

Burj Al Arab and the world’s finest producer of crystal, Swarovski, offer you a chance to own a collector’s item beyond compare. Take the exquisite lines of this landmark building home with you in the form of a handcrafted mini Burj Al Arab Swarovski crystal.

Standing 153mm high, only 500 pieces of this exclusive symbol of luxury have been created.
Only these official, limited edition crystals capture the true splendour of Burj Al Arab - make sure you have the authentic masterpiece in your collection.

The crystal model is available at Al Dukan boutiques at Burj Al Arab and Madinat Jumeirah, and all other Jumeirah properties upon request, and is priced at AED 4,250 ($ 1170).