Countries and companies maintaining economic links with Iran could face sweeping US penalties after President Donald Trump threatened what he called an “Economic D-Day” aimed at further isolating Tehran.

Trump said the United States would launch an unprecedented economic campaign against Iran, warning that countries allowing their financial institutions, businesses, airports or government entities to support Tehran would themselves face “tremendous economic consequences”.

The US president did not specify what new measures Washington would introduce or name individual countries that could be targeted, leaving uncertainty over the scope and enforcement of the threatened action.

Trump described the campaign as the “most crushing economic operation ever taken against any country”, with Washington expected to step up pressure on areas including Iranian oil exports, financial transfers, exchange houses, ship registries and companies accused of helping Tehran circumvent existing restrictions.

The move could significantly raise the stakes for Iran’s remaining trading partners. China represents the biggest potential test for Washington: it purchased more than 80 per cent of Iran’s shipped oil based on 2025 data from analytics firm Kpler, according to Reuters.

Iran hits back at Trump

Tehran rejected Trump’s announcement on Thursday morning.

Iranian Foreign Minister Abbas Araqchi said the US “Economic D-Day” campaign was a diversion from America’s own economic problems and warned that further pressure on Iran would fail, Reuters reported.

The response came as the nearly six-month conflict continues to disrupt regional trade and energy markets, with no clear breakthrough towards restoring normal shipping through the Strait of Hormuz.

Before the war began in February, shipments equivalent to about a fifth of global oil consumption moved through the waterway. Current flows remain far below pre-war levels.

UAE halts transactions with Iran

Trump’s announcement also follows the UAE’s decision this week to halt all trade activities, commercial exchanges and financial transactions with Iran until further notice.

The UAE Ministry of Foreign Affairs said the move came amid regional escalation, while stressing the country’s commitment to protecting the integrity of the international financial system and adhering to international law and global standards. This came after the UAE issue missile alerts from the first time in weeks on Tuesday this week amid the country detecting two ballistic missile threats.

Meanwhile, oil markets remained on edge on Thursday as investors assessed the prospect of a prolonged conflict and further disruption to regional supplies.

Brent crude futures for October rose 0.28 per cent to $91.87 a barrel, while September US West Texas Intermediate futures gained to $86 a barrel. Both benchmarks were heading for a fifth consecutive session of gains.

Emirates Delivers, the e-commerce delivery solution powered by Emirates SkyCargo, has partnered with Bicester Village, the flagship destination of The Bicester Collection, to give UAE customers a seamless way to shop for luxury goods in the UK and have their purchases delivered directly to their doorstep.

The new service is designed for international luxury travellers, combining Bicester Village’s shopping and hospitality experience with the convenience of Emirates Delivers. UAE customers can shop at the Village during a UK trip or remotely through its Personal Shopping team, without having to worry about luggage space or arranging international shipping themselves, an Emirates media report said.

From Bicester Village to the UAE

Bicester Village is part of The Bicester Collection, a family of 12 luxury shopping destinations across Europe, China and the US. The destination features more than 150 boutiques from some of the world’s leading fashion and lifestyle brands, alongside dining, personalised services and hospitality.

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The Village has long been popular with visitors from the GCC and is a key stop for many UAE travellers visiting the UK. Its appeal includes luxury brands, exclusive savings and a high-end shopping experience.

Under the new partnership, customers can use their dedicated Emirates Delivers UK suite address when purchasing items at Bicester Village. The Village’s Personal Shopping team prepares each order before handing it over to Emirates Delivers for the journey from the UK to the UAE.

Emirates Delivers manages the process from shipment consolidation and customs clearance through to final doorstep delivery, offering customers a fully managed service.

Tracking, storage and flexible delivery

Through the My Suite platform, customers can track their shipments at every stage. The service also includes up to 30 days of complimentary storage, package consolidation and the flexibility to decide when purchases should be shipped.

Customers using the service can also:

• Shop without worrying about luggage limitations or excess baggage.
• Benefit from door-to-door delivery from the UK to the UAE through Emirates Delivers.
• Access Bicester Village’s Personal Shopping service for virtual shopping.
• Take advantage of competitive shipping rates and package consolidation.
• Receive transparent handling of customs, duties and delivery requirements.
• Track shipments end to end through the Emirates Delivers platform.

How UAE customers can get started

Customers can register for a complimentary Emirates Delivers account and receive a dedicated UK delivery address. The address can then be used when shopping at Bicester Village, whether customers are visiting in person or using the destination’s Personal Shopping service.

Launched in the UAE in 2019, Emirates Delivers uses Emirates’ global network, flight frequency and cargo expertise to connect customers with premium shopping destinations in major international markets, including the UK and US.

The partnership brings together Emirates Delivers’ global logistics network and Bicester Village’s established luxury shopping and hospitality offering, creating a more convenient way for UAE customers to discover and purchase products in the UK and have them delivered directly to their homes.

Christina Aguilera’s Abu Dhabi concert has been cancelled, becoming the second major music event in the capital to be called off this week.

The US pop star had been due to perform at Etihad Arena on September 25, but Ticketmaster confirmed on Tuesday that the show would no longer go ahead.

Ticket holders were told they will receive a full refund, which will be automatically returned through the original payment method.

The cancellation comes after Aguilera’s Abu Dhabi appearance had already been rescheduled once this year.

The singer, known for hits including Hurt, Candyman and Beautiful, had initially been due to perform at Etihad Arena in April before the concert was moved to September 25.

No new date has been announced.

The news came on the same day that organisers of Abu Dhabi’s Offlimits music festival confirmed its 2026 edition would not go ahead.

That event had been scheduled for November 21 at Etihad Park on Yas Island, with Colombian superstar Shakira set to headline.

Its line-up also included Jonas Brothers, NE-YO, Biffy Clyro, KALEO, Myles Smith, Scouting for Girls and Toploader, alongside regional artists Bayou, Yara Mustafa and YAZ.

Offlimits organisers said all ticket holders would also receive automatic refunds through the platforms used to make their purchases.

No reason was given for the decision, although organisers said the festival would return in 2027.

Offlimits had itself already been moved once in 2026. The festival was originally scheduled for April 4 before being pushed back to November amid heightened regional tensions.

Its inaugural edition took place in Abu Dhabi in April 2025, with Ed Sheeran headlining a bill that also featured OneRepublic, Faithless, Kaiser Chiefs and Artbat.

America’s emergency oil stockpile has fallen to its lowest level in nearly 44 years, leaving Washington with a sharply thinner buffer as the Iran conflict and disruption in the Strait of Hormuz keep oil prices elevated.

Stocks in the US Strategic Petroleum Reserve (SPR) dropped by about 5.3mn barrels in the week ending August 14 to 293.4mn barrels, according to Department of Energy data, the lowest level since December 1982.

The 293.4mn-barrel level remained the latest official reading available on Wednesday, August 19, ahead of the US Energy Information Administration’s latest weekly petroleum report due later in the day.

The decline marks a dramatic reversal from earlier this year. The reserve held 415.4mn barrels on March 20, meaning stocks have fallen by roughly 122mn barrels, or about 29 per cent, since then.

Washington authorised the release of 172mn barrels from the SPR in March as part of a wider International Energy Agency (IEA) initiative to make 400mn barrels of oil and refined products available from emergency reserves following severe disruption to global energy supplies.

The 122mn-barrel reduction in SPR holdings since March 20 is equivalent to around 71 per cent of the volume authorised for release, although the change in overall inventories should not be read as a direct measure of how much of the programme has been delivered.

At its latest level, the SPR holds the equivalent of about 41 per cent of its 714mn-barrel authorised storage capacity.

Much of the emergency programme has been structured through exchanges, under which energy companies borrow crude from the reserve and return barrels at a later date, along with additional oil as a premium.

‘Oil market remains gripped by geopolitics’

The depletion of the US emergency reserve comes as geopolitical tensions continue to put upward pressure on crude.

Benchmark Brent crude futures climbed to $91.47 a barrel by 0754 GMT on Wednesday, while US West Texas Intermediate rose to $85.39 a barrel, with both benchmarks reaching their highest levels since late July.

Norbert Rücker, head of economics and next generation research at Julius Baer, said the political stand-off between Washington and Tehran continued to underpin prices.

“The oil market remains gripped by geopolitics,” he said.

“The diplomatic gridlock and the power games between the United States and Iran create some uncertainty, which manifests itself in a risk premium embedded in oil prices.”

Shipping through the Strait of Hormuz remains well below pre-war levels, while uncertainty persists over how and when normal traffic through the strategic waterway will resume.

Before the conflict, Hormuz carried about one-fifth of global oil and liquefied natural gas supplies.

Yet Rücker said the underlying physical oil market was showing signs of greater resilience than many had expected.

“Global and US inventories are holding up much better than many had feared only a short time ago,” he said.

Softer demand could be one explanation, he added, while significant quantities of crude also appear to be continuing to move through Hormuz despite the risks.

“The supply shock looks more benign, and pragmatism will very likely support oil flows out of the Middle East going forward,” Rücker said.

‘Hormuz is leaking lots of oil’

One of the biggest uncertainties remains the amount of crude actually moving through the strait.

Rücker said conventional vessel-tracking data could be understating flows because smaller ships are moving through the waterway without transmitting normal tracking signals.

“The shuttling of oil in smaller vessels through Hormuz in dark mode challenges the established ship tracking methods using transponder signals or satellite images,” he said.

His assessment was succinct: “Hormuz is leaking lots of oil.”

Asian buyers, particularly China and India, also appeared more willing to continue sourcing Middle Eastern crude despite the increased shipping risks, he said.

“Pragmatism and opportunism prevail against the shipping risks,” Rücker said.

The apparent resilience of oil flows helps explain why global inventories have not deteriorated as dramatically as some market participants initially feared.

US commercial crude inventories, which exclude the SPR, surged by 17.4mn barrels to 424.4mn barrels in the week ending August 7, their largest weekly increase since January 2023.

Preliminary American Petroleum Institute data released on Tuesday showed crude stocks falling by just 328,000 barrels in the week ending August 14.

Official EIA inventory figures are due later on Wednesday, with analysts expecting commercial crude stocks to have fallen by about 600,000 barrels.

Strategic releases running behind pledges

Rücker also pointed to the pace at which countries have deployed emergency reserves.

“Releases from strategic storage are roughly half the levels to date from the initially pledged volumes back in March,” he said.

That potentially leaves governments with additional barrels still available if supply conditions worsen.

“Amidst this fog, the stability of global inventory levels and the recent uptrend in US petroleum inventories offer some comfort,” Rücker said.

Julius Baer remains cautious on the outlook for crude prices despite the geopolitical risk premium.

“With the supply shock looking more benign and pragmatism likely supporting oil flows out of the Middle East going forward, we stick to our cautious view and short position,” Rücker said.

The bank expects oil prices to fall into the $70s later this year and into the $60s next year.

Could WTI fall back to $80?

Vijay Valecha, chief investment officer at Century Financial, said on Tuesday that crude prices were continuing to receive support from signs that the confrontation between Washington and Tehran could persist.

“From a fundamental standpoint, WTI has been grinding their way higher in recent sessions, as the US signals that the showdown with Iran is set to run,” Valecha said.

“The two sides remain far apart on a host of issues, including Hormuz.”

However, Valecha said WTI was approaching an important technical resistance level around $87 a barrel.

“On the 4-hour timeframe, a clear bearish RSI divergence is also visible,” he said.

Valecha said a failure to break through $87 could open the way for WTI to retreat towards $80, while a sustained move above that level could push the benchmark towards $90.

“However, a break above $87 can target $90,” he said.

The EIA, meanwhile, expects Brent to average around $85 a barrel during the third quarter, before easing to approximately $78 in the fourth quarter as traffic through Hormuz increases and disrupted production starts returning.

It forecasts Brent averaging $69 a barrel in 2027.

The agency nevertheless expects global oil inventories to decline by an average of 3.8mn barrels per day in the third quarter, highlighting the continuing uncertainty surrounding Middle East supplies.

For Dubai residents looking to make the most of the final weeks of summer without letting household spending spiral, the city is offering savings across two of the season’s biggest expenses: leisure and back-to-school shopping.

From Palm Jumeirah hotels offering complimentary nights, resort credits and discounts on dining and spa treatments to Dubai Summer Surprises promotions giving shoppers instant savings, loyalty rewards and the chance to win scholarships, there are plenty of ways for families to stretch their dirhams this August.

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The timing is particularly relevant as families begin preparing for the new school year, when spending can quickly add up across laptops, tablets, clothing, school essentials and family activities. At the same time, residents looking for a final summer escape can find hotel packages designed to add value through complimentary breakfasts, dining credits, room upgrades and discounted stays.

For consumers willing to compare the offers, the savings are not necessarily about spending less on everything. Instead, the biggest value can come from choosing packages that bundle several expenses together, or from taking advantage of promotions that reward spending already planned.

Palm Jumeirah hotels are offering more for a summer stay

For residents seeking a break without leaving Dubai, Palm Jumeirah hotels are positioning their summer offers around the idea of staying longer while getting more value from the same trip.

At Anantara The Palm Dubai Resort, the “UAE & GCC Staycation Special” offers up to 30 per cent savings on accommodation across rooms and villas. The package also includes daily breakfast for two adults and up to two children under 12, resort credit of up to Dhs500 per stay, 10 percent savings at the resort’s restaurants and 30 per cent savings at Anantara Spa.

Guests can also check in from 11am and check out as late as 5:00pm, excluding Friday to Sunday, giving families additional time to use the resort’s facilities.

For families considering a two-night stay, NH Collection Dubai The Palm and Dukes The Palm Dubai Hotel are offering an especially direct incentive: a complimentary second night under the “Twice the Night, Twice the Hotel” offer.

The package also provides access to facilities across both neighbouring properties, including two private beaches, private pools and kids’ clubs. Guests can receive 25 per cent savings on dining, while late check-out until 3pm is available subject to availability.

That makes the offer particularly relevant to families looking to turn a short break into a longer summer escape without paying for an additional night.

More value for families on the Palm

At Sofitel Dubai The Palm, the “Luxurious Palm Jumeirah Escape” combines accommodation with several extras. Guests receive daily breakfast, a complimentary room upgrade subject to availability, 50 per cent savings on spa treatments of 60 minutes or longer and 25 per cent savings across the resort’s restaurants and lounges. Early check-in and late check-out are also available where possible.

Meanwhile, Waldorf Astoria Dubai Palm Jumeirah is focusing on family value through its Family Staycation package. The offer includes breakfast for children under 12, daily access to Coco Kids Club and exclusive savings at the spa and restaurants, alongside spacious accommodation aimed at families.

At Taj Exotica Resort & Spa, The Palm, Dubai, residents have several options depending on how they want to spend their summer break. The Saturday Brunch Escape combines an overnight stay with breakfast, while the Art of Staycation package includes daily breakfast, Dhs500 in daily dining credit and spa savings.

For those who do not want to stay overnight, the hotel’s Daycation option provides pool and beach access, with the package fully redeemable on food and beverages.

voco Dubai The Palm is also offering a Limitless All-Inclusive experience, covering leisurely breakfasts, lunches and dinners at Maison Mathis, time at Frenia Rooftop and access to the private beach. Rates start from Dhs 900 net.

For a lower entry point, Radisson Beach Resort, Palm Jumeirah is advertising UAE resident rates starting from Dhs349 per night. The offer includes complimentary breakfast for two as well as family-friendly dining benefits for children.

Hilton Dubai Palm Jumeirah, meanwhile, is offering its Flex Stay Offer with up to 25 per cent savings on Half Board stays. Children aged 11 and under can stay and dine free on the same meal plan as adults, potentially making the package particularly attractive to families planning a longer break.

For households already budgeting for a school restart, such bundled benefits could make a difference: breakfast, dining credits, children’s meals and complimentary nights can reduce the need for separate spending during a stay.

Back-to-school shopping comes with rewards, and a chance to win

As families move from holiday mode to school preparation, Dubai Summer Surprises (DSS) is adding another layer of incentives to back-to-school shopping.

The campaign is offering promotions, retail discounts and prizes throughout August, with some offers rewarding shoppers for purchases they are already making for the new academic year.

One of the headline initiatives is the Modesh Scholarship, which runs until August 29. Shoppers who spend Dhs200 or more at 13 participating malls receive a digital coupon and are entered into a draw for a chance to win one of the Dhs20,000 scholarships available.

The participating Dubai malls are Al Ghurair Centre, Silicon Central, Bay Avenue, Al Khail Gate Community Centre, Shorooq Community Centre, Serena Community Centre, Villanova Community Centre, Mudon Community Centre, New West Zone Al Khail Gate, New West Zone Mizhar 1, New West Zone – Mizhar 2, Arabian Center and Dubai Festival Plaza.

The first five scholarship winners will be recognised at Modesh World at Dubai World Trade Centre on August 23, while the final five winners will be honoured at Arabian Centre on August 30.

Electronics shoppers can stack up the savings

For families buying technology for the new school year, the EMAX x SHUKRAN Back-to-School Promotion runs until August 30 across EMAX’s 10 Dubai stores.

SHUKRAN members spending Dhs2,000 or more can receive an instant Dhs100 discount voucher, 10X SHUKRAN points and premium gifts worth up to Dhs 1,000. The promotion also offers up to Dhs1,000 off laptop and tablet exchanges.

The participating locations include City Centre Deira, Dubai Mall, Ibn Battuta, Mall of the Emirates, Palm Jumeirah Mall, Oasis Mall, Al Ghurair Centre, BurJuman, City Centre Mirdif and Dubai Festival City Mall.

For shoppers already planning a major technology purchase, the exchange incentive could offer another avenue for reducing the overall cost.

Loyalty programmes and wider retail discounts add to the mix

Shoppers who are members of Aura can also participate in the AURA Millionaire promotion until August 30. Members can scan their Aura ID when shopping or dining for a chance to win one million points, equivalent to Dhs20,000. Both in-store and online transactions qualify, with more transactions increasing the chances of winning.

Aura includes more than 50 brands, including H&M, Bath & Body Works, American Eagle and Shake Shack, meaning the promotion extends beyond traditional school shopping.

There are also savings for shoppers looking at watches. Beat The Clock with Rivoli Group, which ran from August 14 to 16, offered deals on Swiss and fashion watches at Rivoli Outlet stores at Dubai Outlet Mall and The Outlet Village, as well as online at Rivolishop.com. The promotion also offered a share of Dhs60,000 in Rivoli Group gift vouchers, with 30 winners receiving prizes between Dhs1,000 and Dhs5,000.

More broadly, the Back-to-School season features more than 500 brands offering promotions ranging from 25 per cent to 75 per cent off, alongside Buy One Get One Free offers on selected products.

The bottom line for Dubai families

The combination of hotel and retail promotions means August shoppers have several ways to approach summer spending strategically.

For families needing a final break, complimentary hotel nights, resort credits, free children’s meals and discounted dining can increase the value of a stay without necessarily increasing the headline accommodation budget. For those preparing for school, meanwhile, discounts on electronics, fashion and other essentials can help reduce the cost of purchases already on the list.

The key is to look beyond the headline discount and compare what each package actually includes. A lower room rate may not necessarily deliver the same value as a slightly higher rate that includes breakfast, dining credit and children’s benefits. Similarly, a retail discount can become more valuable when combined with loyalty points, exchange offers or other rewards.

With Dubai Summer Surprises supported by Key Sponsor Commercial Bank of Dubai and strategic partners including Al Futtaim Malls, Al Zarooni Group, AW Rostamani Group, DHAM, Emirates Airline, ENOC, e&, Majid Al Futtaim and talabat, the city’s summer promotions span accommodation, retail, dining and entertainment.

For Dubai residents, then, the final weeks of summer offer more than one way to save. Whether the priority is squeezing another night out of a family staycation or getting the school shopping list sorted for less, comparing the available offers could help households make their summer dirhams go further.