Dubai is on everyone’s lips. One side of social media salivates over its curated opulence. The other sneers at a city that has become a byword for excess. Barely a week goes by without the British press telling the story of somebody moving to Dubai for lower taxes or, conversely, that the “Dubai dream is dead”.
The city-state benefits from this discourse-fuelled soft power. It strikes both the haves and have-notes. Dubai fever is democratic. The city is an El Dorado of the east for remittance-sending strivers, sun-seeking expats and scammers. For many, it represents an unsettling post-western horizon. A version of the future that is already here. Rows of supercars overlooking glittering marinas. Toothy-grinned influencers, crypto bros and aspiring entrepreneurs crowding the same clubs. Labubus dangling from designer handbags. We’re enamoured of this cliche of Dubai, a historyless slab of a place, where the right price can buy you anything and anyone. But behind this binary view is another way of looking at Dubai – a place that is much more interesting and unusual than is often understood.
The city’s past and present is often reduced to the 2 sq km of downtown Dubai, where visitors congregate. This is the centre of luxury, where records are made to be broken. It is a panorama of lavish hotels and flashy restaurants, with the Burj Khalifa, the world’s tallest building, providing an apt backdrop. This image may be a defining one, but it says very little about the mundane joys and pains of life in Dubai.
I remember visiting an industrial district to attend a poetryreading organised by a collective of young Dubai-based Filipinos. Their work grappled with the oddities of second-generation life. What does belonging mean when it isn’t enshrined by citizenship? How do you build a foundation on shifting sands? These locals spoke from within an intensely stratified society in which identities are both fixed and surprisingly porous. Dubai is the natural habitat of the “third culture kid”. Everywhere, you overhear the chameleonic lilt of international school accents. As a Londoner, I speak to Dubai-raised Somalis and recognise the bruised tenderness with which they describe their city. You don’t get to choose your home town. The heart is ungovernable.
People at the Global Village shopping complex in Dubai, 2 November 2024. Photograph: Fadel Senna/AFP/Getty Images
Today expats make up 85% of Dubai’s population. Through their businesses, schools, cultural centres and social clubs, various diasporas assert their presence. The city hosts the largest Malayali community outside India. Iranian art dealers rub shoulders with Afghan handymen. A Lebanese property developer shares little more than a language with the underpaid north African waiter taking their order. A decade-deep, Sudanese middle class thrives in the very country that is inflaming Sudan’s continuing civil war. Dubai is home to generations of immigrants who have sought shelter and opportunity. Their children face the challenge of reclamation.
It has also long been a transit hub, connecting travellers to motherlands that weren’t properly served by European or North American airlines. (Emirates, the flag-carrier airline, savvily capitalised on this, furiouslyexpanding throughout the 1990s and 2000s.) For many, Dubai came to represent hazy layovers and family reunions. Sheer necessity introduced outsiders to the city. Others, including me, visited extended family members who resided in the emirate. The Dubai we encountered was one of polyglot haggling, stuffed suitcases and relentless change. Each layover, each summer, revealed a dramatically transformed city, with towering additions to its skyline. This was the city as pure id, a glittering “urban spectacle” as the scholar Yasser Elsheshtawy put it. Coining the term “Dubaization”, Elsheshtawy named the hyperreal extravagance of the city’s urban landscape, an aggressive, cash-flush development model that has become a global blueprint. Dubai leads, often to where we would rather not follow.
Later, as an adult, my trips to the city were defined by work. For a brief spell I lived in Al Raffa, a bustling old neighbourhood. The Dubai I found this time embraced its jostling contradictions. In the Deira district, I shared a platter of Tamil food with a Nigerian film-maker, who recommended a local Ethiopian hairdresser. At a rooftop bar crammed with rowdy South Africans, I met a Somali-American flight attendant recovering from a nervous breakdown. We laughed at the absurdity of seeking stability in a place as transient as Dubai.On another trip, an Ethiopian millennial detailed the humiliations she endured when renewing her residency visa. She had lived in Dubai for most of her life, and had no intention of leaving. I had been aware of the other Dubai, the metropolis behind the myth, but these conversations still disarmed me. The city is attracting a different class of newcomers, those who had never expected to settle there.
Passengers at Dubai international airport, 24 June 2025. Photograph: Reuters
Dubai has always been a cosmopolitan place – Baloch traders have settled there for centuries, seafaring Emiratis spoke Hindi and the Indian rupee was a local currency well into the 1960s. And there’s nothing new about Britons flocking to a part of the world, the Persian Gulf, that was shaped by British imperialism. As a sheikhdom, Dubai was one of the Trucial States, part of Britain’s informal empire in the Persian Gulf from the early 19th century to 1971.No amount of historical amnesia will change that. The British expat is a stock character of the 20th-century oil boom, with British people working as engineers, administrators, technicians and educators. The “Jumeirah Jane” stereotype was born in that era, a term referring to the leisurely wives of expats who spent their afternoons by the pool. Repelled by Britain’s broken social contract, many of today’s young professionals idealise the tax-free plushness of Dubai life. (It’s worth noting that the confectionery craze Dubai chocolate was invented by a British-Egyptian woman based in the city.) In my own circles, Dubai became a refuge for working-class graduates who felt disproportionately victimised by years of austerity. Their careers flourished in the Gulf, and their passports guarded them against the worst forms of exploitation. For once, they had the upper hand.
But the west has a habit of hoarding complexity for itself. The rest of the world is rendered one-dimensional, a vulgar composite of tropes. This lack of curiosity extends even to the migrant labourer, the quintessential symbol of abjection in the Gulf. We live in a time where domestic workers in the United Arab Emirates chronicle their daily lives on TikTok, responding to the comments of interested viewers. For those who are looking, there has never been greater access to the hopes and struggles of low-wage migrants.
Contemporary Gulf literature breathes life into stories often reduced to statistics. The children of the city’s labourers are now writing about their parents’ struggles. Dubai Puzha by Krishnadas, Tania Malik’s Hope You Are Satisfied and Deepak Unnikrishnan’s Temporary People depict the modern Gulf metropolis with humanity and humour. Dubai-set Malayalam dramas and films portray migrants scrimping and saving, finding camaraderie along the way. Cinema continues to take a sweeping view of the migrant experience, with films such as Deira Diaries (2021) tracing four decades in the life of a Keralan expat. Such narratives peel away the person from the occupation. Migrant workers become more than objects of pity. Prickly, lovelorn, shrewd, pragmatic; we are increasingly exposed to their inner lives.
When it comes to the Singapores, Dubais and Shenzhens of the world, a certain kind of inattentiveness plagues those opiningfrom the west. It’s easier to tell half the story, to bat away complexity. Peer into the crush of glass and sweat, dreams and desperation. Dubai is a funhouse mirror. You’ll see what you want to see.
Shares of Chinese electric vehicle maker BYD slid by as much as 8% on Monday after it reported a drop in profit because of a price war in China’s car sector.
The carmaker had on Friday reported that its net profit fell to 6.4bn yuan ($900m; £660m) between April and June, down 30% from a year earlier.
BYD said in its filing that “increased price competition” among China’s EV brands had impacted the industry.
The Shenzhen-based manufacturer is facing an increasingly crowded market, competing against local rivals Nio and XPeng and US carmaker Tesla, which have all slashed prices to draw buyers.
The carmaker’s stock fell at the open in Hong Kong on Mondaybut recovered slightly throughout the day.
Competition in China’s car sector has reached a “fever pitch”, said BYD in its statement.
It said “industry malpractices… [like] excessive marketing” played a part in disrupting the market.
EV makers have subsidised car dealers and offered zero-interest loans to buyers as the industry becomes increasingly cutthroat.
It has prompted warnings from Beijing, which urged automakers to stop the aggressive discounts in order to protect the economy.
Average car prices in China have fallen by around 19% over the past two years, currently standing at around 165,000 yuan ($23,100; £17,100), according to industry estimates.
And despite significant sales abroad, BYD’s earnings fell short of analysts’ estimates for a modest increase.
The company targeted global sales of 5.5 million cars this year, but it has sold just 2.49 million by the end of July.
BYD’s “surprising” performance suggests that even the leader of China’s EV sector won’t necessarily win from a “cut-throat” price war, said industrial policy expert Laura Wu from Singapore.
“[The] drop in stock price trading this morning signals investor’s disappointment,” she said.
Beijing’s push to end the EV price war is tough, as past policies have led to too many players in the sector, said Prof Wu from Nanyang Technological University.
Price cuts may benefit consumers, but they risk creating an oversupply of Chinese EVs in the long run, she added.
BYD has grown to become the world’s largest EV maker, surpassing Tesla in annual revenue in 2024, thanks to the wide appeal of its hybrid vehicles in China, Asia and European markets.
On Friday, Alibaba reported a 2% rise in overall revenue to 247.65 billion Chinese yuan, or $34.6 billion, for the quarter ended June 30 — missing analysts’ forecasts of $252.92 billion yuan in revenue. Operating profit dropped 3% to 35 billion yuan.
Despite that drag, investors piled in.
Alibaba’s New York-listed shares closed 12.9% higher on Friday to $135 apiece, while its Hong Kong-listed stock gained as much as 18% Monday morning.
The rally was fueled by a triple-digit percentage gain in AI-related product revenue and Alibaba Cloud’s 26% year-over-year revenue surge to 33.4 billion yuan — beating analyst expectations for an 18% rise.
That performance underscores how investors are zeroing in on AI as Alibaba’s next growth engine.
“Our investments in AI have begun to yield tangible results,” said Alibaba Group CEO Eddie Wu on Friday’s earnings call.
“We’re seeing an increasingly clear path for AI to drive Alibaba’s robust growth,” Wu said.
Analysts are upbeat too.
“For Cloud, it maintains accelerating growth on rising AI adoption with enhanced modeling capabilities and strong inference/training demands,” wrote equity analysts at Jefferies on Friday.
That long-term upside explains why investors are looking past the bruising economics of food delivery.
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Quick commerce drags on profits
The cloud boom stands in sharp contrast to Alibaba’s costly delivery battles.
Alibaba’s China e-commerce business — which includes its traditional e-commerce and food delivery businesses — managed a 10% revenue growth from last year, to 140 billion yuan.
But, earnings before interest, taxes, and amortization fell 21% from a year ago amid heavy subsidies for food delivery and instant shopping.
That weakness reflected the heavy toll of Alibaba’s quick commerce push. It has been burning billions of yuan to compete with rivals Meituan — the market leader — and new entrant JD.com in food delivery and instant shopping.
Jiang Fan, Alibaba’s e-commerce chief, acknowledged on Friday’s call that the company has spent heavily to build up the quick commerce business, but said the losses will shrink as repeat customers drive efficiency.
Nomura analysts wrote on Monday that Alibaba’s quick commerce sector has scaled up enough for the company to “shift emphasis from land grabs to optimizing efficiency.”
Chelsey Tam, a senior equity analyst at Morningstar, struck a similar note, arguing Alibaba is better positioned in the current food delivery battle.
“We believe Alibaba has leveraged its ecosystem resources far more effectively than in previous food delivery competitions, increasing its chances of gaining market share and achieving profitability in the medium term,” wrote Tam on Friday.
Alibaba’s stock is 59% higher in New York this year. Its Hong Kong-listed stock is up 65% over the same period.
Work efficiency and creative attempts to secure sustainable competitiveness
Hedges The site of global orders for the spring and summer season of 2026. [Picture = LF]
LF announced on the 1st that it held the first “2025 Generative AI Business Innovation Challenge” for executives and employees across the company to discover practical improvement ideas using generative artificial intelligence (AI) technology and expand them into pilot projects applicable to actual work.
This contest was an important opportunity to internalize the company-wide AI utilization capabilities and establish an innovative culture.
The contest was held in a way that freely suggested ideas using Generative AI in various jobs such as planning, design, production, sales, marketing, VMD, and CRM.
A total of 18 teams participated during the reception period, and various ideas specific to the fashion industry were submitted, such as deriving AI-based designs, generating virtual fitting images for models, and optimizing demand forecasts.
After document screening and concept verification steps, a total of 10 teams advanced to the finals and conducted pilot tests by applying actual AI tools.
At the final presentation held on the 28th, the best ideas were selected by comprehensively evaluating implementation completion, quantitative work effectiveness verification, technology and tool suitability, sustainability and scalability. Excellent ideas will be tested in actual work through a technology verification process.
At the awards ceremony held on the 28th of last month, three cases were selected as “best ideas,” including the development of an in-house data search system based on images and keywords, the advancement of video content production using AI, and the development of LF mall size error value filters.
“Development of an in-house data search system,” which won the grand prize (first place), is an idea that can check similar styles, past sales insights, and customer reviews in one click using images and keywords. Through this, it was highly evaluated for being able to speed up strategy establishment and maximize work efficiency when planning new products.
“Digital transformation is essential for brands to have sustainable competitiveness in a rapidly changing market environment,” said Kim Sang-kyun, CEO of LF. “Through this challenge, we will discover cases of creative digital innovation centered on the field and actively incorporate them into strengthening AI competitiveness and leading the fashion business.”
Meanwhile, LF is leading various digital innovations using Generative AI at the brand level as well. LF’s flagship brand Hedges is evolving its communication method with customers in three dimensions through innovative attempts such as releasing AI content and using AI models.