The conference circuit will give way to the Iftar and Suhoor circuits in the Gulf as Ramadan is expected to begin next Monday or Tuesday.

The Holy Month brings about one of the quietest times for deal activity and events in the region as hours are shortened for workers across sectors to make room for daylong fasting and more time spent with family. 

Working hours are reduced by government mandate, typically to five hours a day in the public sector in the GCC countries, and private companies tend to follow suit.

Last year, venture capital activity dropped 41% in funding and 64% in the number of deals compared to the same period in 2022. The plunge in activity was partly attributed by data platform Magnitt to the timing of Ramadan – which had occurred later in 2022. 

The official start date of the Holy Month is typically announced when countries’ respective moon-sighting committees, made up of religious leaders and astronomers, spot the crescent moon, which marks the beginning.

This means the official announcement for the start of Ramadan 2024 isn’t expected to be revealed until tomorrow or Sunday. 

Many companies with a Gulf presence will host an Iftar or Suhoor meal during Ramadan for employees and clients.

Tiktok’s Dubai office hosted a flower-draped Suhoor last year, bringing together content creators and employees, as well as Arabic calligraphers and sand art.