Why Dubai has become a city of retail traders

Welcome to this week’s Fortune Gulf Brief. Regular readers might notice a different author byline today, that’s because Melissa is taking a well-earned break, hopefully on a sun lounger in Portugal—although, knowing journalists, probably with one eye on her phone and what’s happening in the Gulf. Ordinary service resumes next week. Until then, I’m Inzamam Rashid, international journalist and broadcaster based in Dubai, and I’ll be your guide to the region for this week. There’s no shortage of things to talk about. Donald Trump’s pronouncements are increasingly becoming trading signals for investors in the UAE, while Washington’s new economic offensive against Iran comes as Tehran’s currency hits a record low and one of its most important trading partners slams the door shut. We’ll also be