The Ministry of Health and Prevention (MoHAP) in UAE has intensified efforts to promote health preparedness and preventive care for UAE pilgrims ahead of the Hajj season 2026, stressing the importance of early medical readiness to ensure a safe and comfortable pilgrimage experience.

The ministry said pilgrims should follow approved health guidelines, receive required vaccinations, and adhere to medical advice before and during travel to reduce potential health risks during the annual pilgrimage.

According to a WAM report, the initiative reflects the UAE’s proactive approach to strengthening preventive healthcare and supporting the wellbeing of citizens throughout their Hajj journey. Authorities are also continuing coordination efforts to ensure pilgrims receive accurate health guidance and access to essential medical support.

Read more-Hajj 2026: Saudi announces up to SAR100,000 fine ahead of pilgrimage

Ahmed Ali Al Sayegh, Minister of Health and Prevention, said the UAE is committed to developing an advanced preventive healthcare system that prioritises readiness and public awareness.

“The UAE adopts a proactive vision to build an advanced preventive healthcare model that goes beyond service delivery to strengthening readiness and raising awareness to support informed health decisions,” Al Sayegh said.

Focus on vaccinations and medical preparedness

MoHAP stressed that receiving mandatory vaccinations before travelling is essential, particularly the meningococcal vaccine, alongside other recommended immunisations in line with approved medical guidelines.

Officials said the measures are aimed at reducing the spread of infectious diseases and helping pilgrims complete Hajj rituals safely and comfortably.

The ministry and health authorities also urged pilgrims to visit healthcare centres early to complete medical examinations and confirm their fitness for travel, particularly older adults, pregnant women, and individuals living with chronic illnesses.

Al Sayegh said cooperation between national entities would strengthen response efforts and help deliver the best possible healthcare environment for UAE pilgrims.

“He added that these efforts further reinforce the UAE’s position in developing impactful and forward-looking health programmes based on early planning and sustainable preparedness,” the report said.

Pilgrims advised to follow safety measures during Hajj

Authorities advised pilgrims to maintain preventive practices throughout the Hajj season, including wearing masks in crowded areas, maintaining personal hygiene, staying hydrated, and avoiding prolonged exposure to direct sunlight to minimise the risk of heat exhaustion.

Additional guidance was issued for people with chronic conditions, including carrying enough medication, keeping medical reports accessible, and following prescribed treatment plans during travel.

MoHAP said health awareness updates and guidance will continue to be shared through official communication channels, digital platforms, smart applications, websites, and SMS services during the Hajj season.

The Ministry of Education and the Ministry of Higher Education and Scientific Research in UAE announced on Friday that the approved learning model for the upcoming period will be revealed on Sunday evening, May 10, 2026.

Authorities said the decision on whether classes will continue through in-person or remote learning will follow a full assessment of the current situation in coordination with relevant authorities. Officials stressed that the review is being conducted to ensure the safety of students, teachers and staff while maintaining the continuity of the academic process.

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According to a WAM report, the ministries said educational institutions across the country remain fully prepared to shift between different learning models whenever required.

Exams to continue in-person

The ministries also confirmed that examinations and international assessments will continue in person under the approved plans. In-person learning will also remain in place for higher education programmes and academic disciplines that require practical attendance or clinical training.

“The assessment will be done in a manner that ensures the safety of the educational community and the continuity of the educational process,” the report stated.

Officials added that any further developments or updates will be communicated through the ministries’ official channels.

From beachfront suites and private pools to spa credits and family-friendly perks, Palm Jumeirah hotels are rolling out staycation offers for the Eid Al Adha long weekend

For UAE residents staying local this Eid Al Adha, Palm Jumeirah remains one of Dubai’s easiest options for a quick luxury escape without boarding a flight. From resort-style beachfront stays to rooftop pool experiences and family-friendly packages, hotels across the Palm are introducing special offers aimed at the long weekend crowd.

Here are six staycation deals worth considering.

Anantara The Palm Dubai Resort

Located on the eastern crescent of Palm Jumeirah, Anantara continues to position itself as one of the more secluded resort-style options on the island, known for its lagoon access villas, beachfront setting and slower-paced atmosphere.

Its Eid Al Adha offer starts from Dhs850, including up to 30 per cent off rooms and villas, daily breakfast for two adults and two children under 12, a resort credit of up to Dhs500, 10 per cent off dining and 30 per cent off spa treatments. Guests can also access early check-in from 11am and late check-out until 5pm.

The resort is also offering UAE and GCC resident rates from Dhs600 through to September 2026.

For more information, visit Anantara The Palm Dubai Resort.

Kempinski Hotel & Residences Palm Jumeirah

For travellers looking for larger suite-style accommodation and a quieter beachfront setting, Kempinski’s Palm Jumeirah property is offering Eid Al Adha packages with flexible check-in and check-out timings.

Rates start from Dhs1,350 for an Ocean View Suite, Dhs1,500 for a Palm View Suite and Dhs2,000 for a Private Pool Suite.

For more information, visit Kempinski Hotel & Residences Palm Jumeirah.

Marriott Resort Palm Jumeirah

Marriott Resort Palm Jumeirah is targeting families and guests looking for an all-in-one resort experience, combining beach access, dining, wellness facilities and children’s activities.

The Palm Reset Escape package starts from Dhs523, including breakfast, complimentary stays and dining for children under 12, spa access and two-for-one treatments.

A second package, the Palm Escape, starts from Dhs749 and includes Dhs500 in daily resort credit, private beach cabana access and use of the resort’s facilities.

Guests can also access early check-in from 10am and late check-out until 6pm.

For more information, visit Marriott Resort Palm Jumeirah.

NH Collection Dubai The Palm

Positioned on Palm West Beach, NH Collection Dubai The Palm leans into a more social atmosphere, combining rooftop pools, beach access and proximity to restaurants and nightlife.

Its current offer includes a two-nights-for-the-price-of-one package starting from Dhs350 per person. The package includes access to pools, beach facilities, gym and kids club, alongside 25 per cent off restaurants.

Two children under 12 can also stay and dine free, while late check-out is available until 3pm.

For more information, visit NH Collection Dubai The Palm.

Radisson Beach Resort Palm Jumeirah

Located close to Palm West Beach’s restaurants and beach clubs, Radisson Beach Resort is positioned more towards travellers seeking a livelier social atmosphere.

Its Eid offer starts from Dhs349 on weekdays and Dhs499 on weekends, including room upgrades, private beach access and complimentary stays and dining for children under six.

The hotel is also running a Luxury Resident Escape package from Dhs549, which includes breakfast, early check-in and late check-out until 4pm, plus 25 per cent off dining and 50 per cent off spa treatments using the code “RESSOF”.

For more information, visit Radisson Beach Resort Palm Jumeirah.

Taj Exotica Resort & Spa The Palm Dubai

Taj Exotica Resort & Spa The Palm Dubai is offering a more traditional luxury resort stay, with large rooms, beachfront access and family-oriented facilities.

Its Eid Escape package starts from Dhs700 and includes daily breakfast, beach and pool access, as well as access to the kids club and game room.

The hotel is also launching a Summer Escape package from Dhs450 from June onwards.

For more information, visit Taj Exotica Resort & Spa The Palm Dubai

There is a particular kind of silence that falls over trading floors and family offices alike when the news turns genuinely bad. The kind that preceded the Lehman collapse in 2008. The kind that gripped the world on March 12, 2020, when markets posted their worst single-day fall since 1987. The kind that returned on the morning of March 1, 2026, when news broke that US and Israeli forces had struck Iranian military infrastructure overnight, and Brent crude opened 13 per cent higher.

In those moments, every screen turns red, every model fails, and — most dangerously — every instinct screams sell. It is precisely in those moments that the investor’s greatest enemy is not the market. It is themselves.

This is not a new problem. Behavioural finance has documented it exhaustively. Yet crisis after crisis, the pattern repeats with near-perfect fidelity: fundamentals are abandoned, momentum reverses violently, and fear becomes the dominant pricing mechanism — only to be followed, almost without exception, by a return to reason and, with it, to value.

At Habib Bank AG Zurich, we have accompanied clients through each of these episodes — the dot-com collapse, the Global Financial Crisis, the COVID crash, and now the 2026 Iran conflict. What we have observed, consistently, is that the clients who weathered these periods with the least damage were not those with the best market-timing instincts. They were those with the clearest investment framework and the discipline — supported by their advisors — to hold to it when the world around them was doing otherwise.

“The stock market is a device for transferring money from the impatient to the patient.” — Warren Buffett

The architecture of panic

To understand why investors behave so irrationally during crises, it helps to understand how the brain is wired. Humans are loss-averse by a ratio of roughly 2:1 — the psychological pain of a loss is felt twice as intensely as the pleasure of an equivalent gain. Nobel laureate Daniel Kahneman called this prospect theory, and it was formulated in the 1970s. Decades later, it plays out in every crisis drawdown with the precision of a recurring theme.

During normal market conditions, rational actors assess earnings trajectories, discount rates, geopolitical risk premia, and cash flow multiples. These are the fundamentals — the gravitational force of markets. But when an exogenous shock strikes — a pandemic, a war, a banking collapse — the cognitive architecture shifts. The prefrontal cortex, seat of rational planning, effectively cedes control to the amygdala, the brain’s fear centre. The result is momentum-driven selling that has nothing to do with underlying business value and everything to do with the hardwired human terror of being the last one out.

In asset markets, this manifests as a peculiar decoupling: the price of a stock falls not because its earnings have changed, but because its shareholders have become afraid. The asset has not deteriorated — the perception of it has. And crucially, the US Dollar Index (DXY) — a proxy for global risk appetite — tells us the precise moment when this fear has peaked.

HBZ ADVISORY PERSPECTIVE

The private banking relationship exists precisely for moments like these. A trusted advisor’s primary role during a crisis is not to predict markets — it is to prevent clients from becoming their own worst enemy. At HBZ, our advisory conversations in times of volatility are anchored in three questions: Has your investment objective changed? Has the fundamental quality of your portfolio changed? Has your time horizon changed? If the answer to all three is no, then the only thing that has changed is the headline. And headlines are not a portfolio strategy.

The historical record: What actually happened

History is the most powerful antidote to panic, and the data from major crisis periods is unambiguous. In every significant drawdown over the past three decades, markets have not only recovered — they have surpassed prior highs by substantial margins. The table below includes the most recent episode — the 2026 Iran conflict — alongside prior crises.

The pattern is consistent across each event: the S&P 500 suffers a sharp, sentiment-driven decline that overshoots fundamental value, the DXY rallies as capital seeks the safety of the world’s reserve currency, and then — once the peak of uncertainty passes — equities recover, the dollar softens, and patient capital is rewarded.

The 2026 Iran War: A live case study in crisis investing

On February 28, 2026, the United States and Israel launched coordinated strikes on Iranian military infrastructure in what the US designated Operation Epic Fury. The Strait of Hormuz — through which approximately 20 per cent of the world’s oil supply transits daily — was closed by Iran within days. Brent crude, which had been trading near $72 per barrel on the eve of the conflict, surged past $112 by late March, a rise of over 55 per cent in less than four weeks. The International Energy Agency characterised it as the greatest global energy security challenge in its history.

For investors in the Gulf and globally, the immediate instinct was familiar: sell equities, buy oil, hoard dollars. And in the first five weeks of the conflict, that trade appeared to be working. The S&P 500 fell approximately 8 per cent from pre-war levels, recording five consecutive weeks of declines — a streak that had occurred only twice in the prior 15 years. The MSCI All World ex-US Index fell more than 10 per cent over the same period. European gas benchmarks nearly doubled. Airlines, logistics companies, and consumer-facing businesses repriced sharply lower as energy cost projections spiralled.

GULF CONTEXT — A REGIONAL DISRUPTION WITH GLOBAL CONSEQUENCES

For GCC-based investors, this crisis carries particular weight. Tourism suffered as airspace closures disrupted travel. Gulf aluminium producers declared force majeure on some contracts following disruption to their operations. Qatar declared force majeure on LNG export contracts. The collective oil production from the GCC declined by an estimated 10 million barrels per day by mid-March. The region’s economic model — built on open straits, stable energy flows, and international connectivity — faced its most acute stress test in a generation.

And yet. By April 7, a two-week US-Iran ceasefire was announced. Markets responded with what analysts at JPMorgan described as euphoria returning to equities. The S&P 500 surged 2.5 per cent in a single session. The Dow recorded its largest one-day percentage gain since April 2025. By April 15, the S&P 500 closed above 7,000 for the first time in its history — having erased all war-related losses and then some. The rebound from trough to new all-time high was faster than the post-Covid recovery.

The investors who had sold in panic between late February and late March locked in real losses at precisely the wrong moment. Those who held — or added to positions at the late-March lows — participated in one of the sharpest recovery rallies in modern market history.

“The stock market is always trying to price what the world is going to look like six to twelve months from now.” — Joe Seydl, J.P. Morgan Private Bank, April 2026

Several dynamics underpinned this resilience that are worth understanding. First, the conflict — for all its severity on an energy and geopolitical level — did not fundamentally impair the earnings power of the US equity market’s largest constituents. Technology companies, which now account for nearly half of the S&P 500’s market capitalisation, were largely insulated from direct energy cost exposure. Second, investors had been conditioned by a decade of policy pivots: the so-called TACO trade — a sardonic market acronym for the observed tendency of the Trump administration to de-escalate when economic pain becomes politically costly — led many institutional players to hold positions or even add exposure during the drawdown. Third, the DXY, while firm during the conflict, did not spike dramatically as it had during Covid — suggesting that this was a regional energy shock being absorbed by a resilient domestic US economy, rather than a systemic financial panic.

HBZ CLIENT EXPERIENCE — PRUDENCE AS A COMPETITIVE ADVANTAGE

During the five weeks of maximum Iran war uncertainty, HBZ’s private banking teams across DIFC and Zurich maintained proactive communication with clients — not to offer predictions, but to provide structured context. Our advisors reviewed portfolio stress scenarios, reconfirmed risk tolerance profiles, and where appropriate, identified selective opportunities in quality assets that had been indiscriminately sold down. This is the HBZ philosophy made practical: in volatility, we do not step back from the conversation. We step forward into it. Prudence, in our experience, is not caution for its own sake — it is the discipline that preserves the optionality to act when others cannot.

Momentum versus fundamentals: A tale of two forces

It is worth being precise about what we mean by momentum and fundamentals, because the tension between the two is the engine of crisis investing.

Momentum is the tendency of assets that have been falling to continue falling — driven not by valuation but by the behaviour of other market participants. In a crisis, the feedback loop is self-reinforcing: prices fall, margin calls are triggered, forced sellers appear, prices fall further, and the headlines worsen. Technical levels that once provided support give way, and the narrative shifts from attractive buying opportunity to value trap.

Fundamentals, by contrast, are the slow-moving gravitational force of intrinsic value — the present value of a business’s future cash flows, its competitive position, its balance sheet. These do not change overnight because a virus emerged in Wuhan, a bank failed in Manhattan, or strikes were launched on Iranian nuclear facilities. Yet in crisis conditions, they are temporarily overwhelmed by the louder signal of fear. The 2026 episode illustrated this with unusual clarity: the underlying earnings power of US listed companies had not deteriorated materially, yet momentum sellers drove prices 8 per cent below pre-war levels in five weeks. Fundamentals then reasserted, violently, once the ceasefire catalyst arrived.

The investor’s task is not to be indifferent to crisis — real crises cause real economic damage, and distinguishing between temporary sentiment-driven dislocations and structural value impairment is genuinely difficult. The 2026 energy shock will leave lasting scars on European industrial capacity, on GCC economic confidence, and on global inflation trajectories. But the discipline of investing requires holding that distinction clearly in mind even when the world around you has abandoned it. This is the work that a private banking advisor, at their best, helps their client perform.

The dollar as a fear gauge

For investors in the GCC and wider emerging market universe, the US Dollar Index (DXY) carries particular relevance. A rising DXY is not simply a currency phenomenon — it is a barometer of global fear. When investors flee to safety, they buy US Treasuries, which requires buying US Dollars, which drives the DXY higher. Conversely, when risk appetite returns, the dollar softens, emerging market assets rally, and the carry trade revives.

In every major crisis episode in the table above, the DXY moved inversely to equities at the moment of peak distress. What was notable about the 2026 Iran conflict is that the DXY’s response was relatively muted compared to, say, the COVID-era strengthening of 3 per cent within a month — an anomaly for DXY. This suggested that institutional capital read the conflict as a geopolitical and energy shock — severe, but not systemic in the way that a credit freeze or pandemic is systemic. That reading proved correct. When oil began retreating after the ceasefire, the dollar softened, and the equity recovery was swift and broad.

For regional investors, this creates an actionable framework: when the DXY is spiking alongside falling equity markets, the conditions that historically precede a recovery are often assembling themselves quietly beneath the surface of the headlines. At HBZ, monitoring this relationship between the dollar, oil, and equity risk premium sits at the core of how we advise clients on portfolio positioning during periods of elevated geopolitical uncertainty — a skill that has particular resonance for investors whose wealth is anchored in the Gulf.

A framework for the disciplined investor

The lessons of history do not resolve to a simple buy-the-dip instruction. Not every drawdown is a buying opportunity; some reflect genuine structural deterioration. The discipline lies in a framework that distinguishes between the two — and in having an advisor who holds that framework steady on your behalf when emotion threatens to override it:

1. Distinguish noise from signal. Ask whether the crisis has changed the earnings power or competitive position of the underlying businesses you own, or whether it has simply changed how others feel about them.
2. Watch the DXY, not just the SPX. A DXY peak concurrent with an equity trough has historically marked the moment of maximum fear — and the inflection point of maximum opportunity.
3. Maintain liquidity deliberately. Crisis-period opportunities are only accessible to investors who have not been forced to sell. Holding a pre-established cash allocation is not timidity — it is strategic optionality.
4. Anchor to time horizon. The investor with a five-year horizon should be far less afraid of a six-week drawdown than the investor who has conflated their investment account with their emergency fund.
5. Resist the narrative. Every crisis generates a dominant narrative that explains why this time is different. In 2026, it was the Strait of Hormuz — surely, the closure of the world’s most critical oil chokepoint would cascade into a permanent repricing of equities. It did not. Engage with it critically. The narrative is usually partially correct — and largely irrelevant to long-term returns.

The case for long-term patience

The data is not ambiguous. Since 1950, the S&P 500 has experienced 38 corrections of 10 per cent or more. Every single one has eventually been followed by a recovery to new highs. Morgan Stanley analysis found that over the past 75 years, the S&P 500 has risen an average of 8.4 per cent in the twelve months following a sudden external shock — whether war, pandemic, or energy crisis. The average recovery time for full bear markets has been approximately 27 months; for shallower shocks like the 2026 Iran episode, recovery was measured in weeks.

Fear is not irrational — it is a rational response to genuine uncertainty. What is irrational is allowing fear to masquerade as investment analysis. The investor who mistakes their anxiety for a market view, and acts upon it by selling quality assets at distressed prices, has done more damage to their long-term financial position than any market crisis ever could.

The history of markets is ultimately a history of human resilience. Companies adapt, economies recover, and capital — when allocated with discipline and patience — compounds. The Strait of Hormuz has been closed before. The oil price has surged before. The headlines have screamed unprecedented before. Each time, they were right about the severity of the immediate shock. Each time, they were wrong about its permanence.

“In the 20th century, the United States endured two World Wars, the Great Depression, a dozen recessions, the oil shocks, and the Cuban Missile Crisis. The Dow rose from 66 to 11,497.” — Warren Buffett

The crises change. The pattern does not.

A NOTE FROM HABIB BANK AG ZURICH

For over six decades, Habib Bank AG Zurich has served clients across the Middle East, South Asia, and beyond with a philosophy rooted in prudence, long-term stewardship, and deep personal relationship. Our Swiss heritage instils in us a particular discipline: the conviction that preserving and growing wealth across generations requires not bravado in good times, but steadiness in difficult ones. If this article has resonated with you — as an investor navigating today’s uncertainties — we would welcome the opportunity to speak with you. Our Private Banking teams in Dubai and across our global network are available to review your portfolio, stress-test your positioning, and ensure your investment framework remains aligned with your goals, not with the day’s headlines.

Disclaimer: The views expressed in this article are those of Habib Bank AG Zurich’s advisory team and are intended for informational and educational purposes only. Market data referenced reflects publicly available sources including Bloomberg, Morgan Stanley Research, Charles Schwab, J.P. Morgan, and the Wikipedia Economic Impact of the 2026 Iran War. Nothing herein constitutes a solicitation to buy or sell any securities or financial instrument. Past performance of indices does not guarantee future results. Investors should seek independent financial counsel before making investment decisions. Habib Bank AG Zurich is regulated in the relevant jurisdictions in which it operates.

Mubadala Investment Company, the Abu Dhabi-based global investment firm, announced on May 7 that it has acquired a significant minority stake in Power Factors, a leading renewable energy management suite (REMS) provider.

The deal was completed alongside existing investor Vista Equity Partners, marking a continued partnership in scaling digital infrastructure for the energy transition.

The investment is aimed at accelerating Power Factors’ global expansion, supporting product innovation, and strengthening its position as a key software provider in the rapidly growing renewable energy sector. Financial terms of the transaction were not disclosed.

Read more-Mubadala invests $300m alongside Stonepeak in container leasing platform

Power Factors’ flagship Unity platform offers renewable energy operators a unified suite for monitoring, analytics, technical asset management, and commercial asset management. According to a WAM report, the system is designed to consolidate operational data across large and complex energy portfolios, improving efficiency and performance tracking.

The company currently supports 70 per cent of the world’s top 50 renewable energy producers. It serves more than 600 customers across 18,000 sites in over 70 countries, managing a total installed capacity of 310 gigawatts spanning wind, solar, and energy storage assets.

Strategic backing for global growth

Abdulla Mohamed Shadid, head of Energy and Sustainability, Private Equity at Mubadala, said the investment reflects the company’s long-standing commitment to clean energy.

“Mubadala’s commitment to renewables spans more than two decades, beginning with establishing Masdar, and today’s investment in Power Factors reinforces our conviction in this increasingly vital sector,” he said. “As renewables portfolios scale globally, software-driven monitoring, analytics, and intelligent control become critical for optimising performance, value and yield. We are pleased to be joining Vista in supporting Power Factors’ next phase of growth and cementing their position as the world’s leading such platform.”

The partnership is expected to support the continued development of Unity REMI (Renewable Energy Management Intelligence), which integrates artificial intelligence across Power Factors’ product suite.

REMI is designed to transform how operators interpret and act on operational data, using AI to improve decision-making, reduce downtime, and increase asset performance. The new investment will also accelerate advancements in energy storage monitoring and control capabilities.

This includes supporting the development of hybrid energy systems that combine wind, solar, and storage technologies, enabling more reliable grid services and improved energy flexibility.

Industry transformation at scale

“Renewable energy portfolios are becoming larger, more integrated, and more challenging to manage at scale, and our customers need a unified, intelligent platform that can support that reality,” said Julieann Esper Rainville, CEO of Power Factors. “This investment helps us fulfill the next step in our mission to create the world’s leading AI-driven suite of renewable energy management solutions, giving our customers what they need to succeed as their portfolios grow. Mubadala will be an excellent partner to support us as we build the future of renewable energy operations.”

Patrick Severson, senior managing director and co-head of the Foundation Fund at Vista Equity Partners, said the company has become central to how operators manage renewable assets.

“Since our initial investment, we’ve seen Power Factors become central to how renewable energy operators run and manage their portfolios,” he said. “Mubadala brings deep experience working with global technology and infrastructure businesses. We are excited to partner with them to support continued innovation at Power Factors and advance the company’s leadership in renewable energy management.”

Growing importance of energy software

The renewable energy sector continues to expand rapidly as wind, solar, and storage assets are integrated across increasingly complex global grids. As portfolios scale, software-enabled platforms like Power Factors are becoming critical infrastructure for operators seeking to maximise performance, reduce costs, and improve system reliability.

The company’s integrated software, services, and hardware ecosystem positions it among the most widely deployed solutions in the sector, reflecting the growing role of digital tools in the global energy transition.