A growing number of government-sponsored business events in key hubs across the Middle East are being postponed because of the nearly month-long U.S.-Israeli war with Iran, Bloomberg <a href="https://www.bloomberg.com/news/articles/2026-03-27/riyadh-dubai-delay-finance-events-as-iran-war-disrupts-region">noted</a>.

Dubai and Riyadh postpone major business conferences over war with Iran

For the last 10 years, the UAE has been the undisputed financial center of the Middle East and the place where projects from Russia and CIS countries are being developed. Dubai's government policy to attract investors has become a role model - other Gulf countries have actively copied the fintech and crypto-regulation of their tiny but insanely successful neighbor.

What's happening to businesses in Dubai during the war in the Middle East

Macy's, Inc.

The war in the Middle East has sharply reduced the flow of shoppers in Dubai's shopping centers, a key market for the global luxury industry, the Financial Times <a href="https://www.ft.com/content/f88f97cb-adc7-42d1-aae1-e4bf241d4961?syn-25a6b1a6=1">reports</a>. Amid attacks and logistical disruptions, some retailers have recorded a 60% drop in revenue and warned of the risks of a prolonged downturn.

War in the Middle East hits luxury: sales collapse in Dubai malls

An Iranian drone damaged the Dubai International Financial Center where the fund's employees work

Millennium hedge fund prepares to relocate staff from Dubai amid the war

Kering SA

LVMH Moet Hennessy - Louis Vuitton, Societe Europeenne

Prada S.p.A.

The US-Israeli war with Iran has created a crisis for luxury brands in Dubai, according to analysts at Bernstein Research. According to their forecast, sales of luxury goods in the Middle East in March may halve due to a sharp drop in the number of foreign tourists, The New York Times <a href="http://www.nytimes.com/2026/03/19/business/dubai-luxury-shopping-iran-war.html">reports</a>.

Dubai crisis: how the war in the Middle East will affect luxury sales

Hotel occupancy in the emirate fell from 90% in the high season to around 16% by March 17

'Everyone is praying for recovery': hotels in Dubai cut prices due to Iranian shelling 

Emirates airline is operating virtually empty flights to Dubai as passengers avoid flights to Gulf countries because of the war, Bloomberg <a href="https://www.bloomberg.com/news/articles/2026-03-16/emirates-flying-near-empty-planes-back-to-dubai-as-locals-depart">writes</a>. Flights from the U.S. and continental Europe have been hardest hit. According to data collected by the airline from Dubai, planes returning, for example, from Prague or Budapest, are only 5-10% full. At the same time, in the reverse direction, the airplanes are fully loaded.

Emirates planes fly to Dubai nearly empty - Bloomberg

Emaar Properties PJSC

Emaar Development PJSC

Before the war, Dubai's stock market had risen about 300% in nearly six years

Dubai stocks have lost more than 20% since war broke out in the Middle East

Micron Technology, Inc.

Hua Hong Semiconductor Limited

JD.com, Inc.

Amazon.com, Inc.

Dubai has suspended operations at its main international airport after a drone strike caused a fire at a fuel tank near the terminal. US President Donald Trump said he is "demanding" that other countries contribute to the defense of the Strait of Hormuz. China's Hua Hong has developed 7nm chip manufacturing technology with Huawei, becoming the second company in the country after SMIC with such capabilities. These and other topics are in our review of key events on the morning of March 16.

Main by morning: Dubai airport halted operations, Trump awaits help in defending the strait

The Token2049 cryptocurrency conference - one of the world's largest - will not take place in Dubai next month as planned amid Iran's ongoing missile strikes on the UAE and other Middle Eastern countries, Bloomberg <a href="https://www.bloomberg.com/news/articles/2026-03-13/dubai-crypto-event-token2049-postponed-as-iran-war-continues?srnd=homepage-europe&amp;embedded-checkout=true">reports. </a>

Dubai postponed one of the largest cryptocurrency conferences in the world due to Iranian attacks

Meta Platforms, Inc.

NVIDIA Corporation

Apple Inc.

Tesla, Inc.

Alphabet Inc.

Sirens and explosions were heard and smoke from a fire was seen in Dubai on the morning of Friday, March 13. The U.S. has temporarily allowed the purchase of Russian oil already at sea to stabilize energy markets amid a war with Iran. Ma has delayed the launch of its new Avocado AI model until May-June due to weaker performance compared to Google Gemini. About these and other topics - in our review of key events by the morning of March 13.

Main things for the morning: Dubai hit, US brought RF oil back to the market, Mag7 on the verge of correction

The Goldman Sachs Group, Inc.

Citigroup Inc.

Iran has stepped up strikes on Dubai, Bloomberg <a href="https://www.bloomberg.com/news/articles/2026-03-12/iran-escalates-attacks-on-shipping-and-dubai-sending-oil-higher?embedded-checkout=true">reports </a>. On Thursday morning, the emirate's authorities reported incidents with drones: in one case, debris fell on the facade of a building, in another - a drone struck the territory of a new high-rise residential complex.