Story thread · 2 reports / 2 sources

Gulf residents return to a new normal

economictimes.indiatimes.com · 1dShare

Every year, a summer lull in the United Arab Emirates gives way to a September rush. Offices fill up, school buses ferry children through city streets once again, hotels prepare for tourists chasing winter sun while professionals swarm to conferences across the country.This year, the ritual will test the resilience of the UAE’s post-pandemic boom and whether low taxes and an attractive lifestyle can keep drawing people and capital amid a war that’s showing few signs of resolution. For now, its business as usual in parts of the economy.Abu Dhabi’s wealth funds are still putting billions to work, encouraging Wall Street banks to add more Gulf staff, while the rush of hedge funds continues. Malls across Dubai and Abu Dhabi are packed with residents chasing “back to school” offers, and restaurants have remained busy.Still, challenges remain as the regional conflict stretches into its seventh month. Continuing disruption in the Strait of Hormuz has raised import costs and fuel prices, while

First report: ‘Neither War, Nor Peace:’ UAE Residents Return to a New Normal — livemint.com, 1d