dirhams & dollars

A tale of two seasons: Results transition to summer

As business begins to slow down, we look ahead to the last few big events before Ramadan

20:21 May 6, 2018
People shopping during the DSS 2017 at a mall in Dubai.

Dubai: Two weeks before Ramadan, and the business community in the UAE is finally beginning to pump its breaks.

With flat out events and announcements for the past few months, most businesses in the region are slowly beginning to settle in for the long summer.

Nevertheless, it is still results season, and one of the giants has yet to announce their financial performance for 2017: Emirates Airlines.

After suffering a whopping 82 per cent drop in profit in 2016, all eyes will be on whether they have been able to lift back up profits in 2017.

Away from results, this week is a big one for retail, too.

The annual super sale takes place this weekend, with participating shops across Dubai offering up to a 90 per cent discount.

Last year saw traffic chaos around the major malls, with Dubai Mall even closing its doors at one point.

Finally, we look abroad, as the Bank of England meets to discuss an interest rate change, and we await the results of a US delegation’s visit to China to discuss trade, against the backdrop of a looming trade war between the two superpowers.