The World Gold Council (WGC) will shutdown its office in the UAE next week due to a strategic review of their operations, it said on Wednesday. "We recently carried out a strategic review of our operations and whilst there are significant opportunities in the UAE, we do not currently have the appropriate critical mass there to maximise them, nor can we deploy the necessary resource," said the statement.
"As such, we have decided to reallocate our resource in the UAE," it added. The office will close on 31 March. The WGC took part in promoting the retail sector through the Dubai Shopping Festival and said it would continue to honour such initiatives, the statement said.