The Jebel Ali Hindu Mandir in Dubai experienced a significant increase in devotees on the first day of the New Year, with 40,000 worshippers attending, marking a rise of 12,000 compared to the previous year.
The General Manager, Mohan Narasimhamurthy, emphasized successful crowd management efforts, including separate queues for different groups.
The relocation of the temple from Bur Dubai to Jebel Ali was welcomed by many due to improved parking and crowd control. The temple has become a popular attraction for tour operators, with an average of seven to eight tour buses daily and visitors from over 40 different nationalities.
The UAE President, Sheikh Mohamed bin Zayed Al Nahyan, has established the International Humanitarian and Philanthropic Council to oversee international humanitarian projects and philanthropic initiatives.
The council, chaired by Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, will have roles including overseeing the sector, reviewing and approving policy agendas, managing project preparation and implementation, developing future visions and frameworks, and forming subcommittees.
The council integrates various committees, including the Joint Strategic Committee for African Cooperation, UAE Humanitarian Committee, Higher Committee for Foreign Aid, and International Health Advisory Committee.
Rents in prime Dubai residential areas are expected to surge up to 20% in 2024, following a remarkable upswing of 23-30% in the previous year.
Property experts attribute this sustained buoyancy to factors such as increased investor interest, a rising influx of professionals, population growth, and Dubai’s growing appeal to the wealthy.
Net migration continuing to surpass the rate of new home deliveries is anticipated to exert upward pressure on rental prices.
The trajectory of rents in 2024 will be influenced by factors like residents choosing to buy rather than rent, and the attractiveness of property as an investment opportunity.
Dubai has introduced the ambitious AED208 billion “Dubai Social Agenda 33,” aiming to elevate the emirate’s standard of living and turn it into one of the world’s top three cities over the next decade.
Announced by Sheikh Mohammed bin Rashid Al Maktoum, the plan emphasizes empowering families, with goals such as doubling the number of Emirati families and providing world-class living standards.
The five main objectives include fostering happy and productive families, enhancing healthcare, improving education, developing a proactive social system, and creating suitable housing. The budget, over ten years, is more than double the previous decade’s support.
Dubai-based Emirates has revealed plans to enhance its operations to Seoul, South Korea, by introducing three extra flights per week.
Starting from February 19, 2024, the new flights will operate on Mondays, Wednesdays, and Fridays. The schedule for EK324, managed by a Boeing 777-300ER, involves departure from Dubai at 4:45 am and arrival at Seoul Incheon International Airport at 6:05 pm.
The return flight, EK325, is scheduled to depart Seoul at 10 pm and land in Dubai at 1:35 am the following day. These additional services will contribute over 1,000 extra seats weekly, addressing the growing demand for international travel to this prominent East Asian destination and supporting both inbound and outbound tourism for Korea.
Emirates has been serving Seoul since 2005, initially launching a daily Airbus A380 service, and with these additions, the airline will operate 10 weekly flights to Seoul.
India secured a seven-wicket victory against South Africa in the second Test, leveling the two-match series.
The match concluded in just two days with challenging batting conditions. South Africa, starting their second innings at 62-3 with a 36-run deficit, displayed an improved performance, particularly with a remarkable hundred from opener Aiden Markram (106 runs). However, the Proteas couldn’t withstand the Indian pace attack, getting all out for 176.
Jasprit Bumrah’s exceptional bowling (6/61) limited India’s target to 79 runs in the fourth innings. Despite losing a few wickets, India successfully chased the target, with skipper Rohit Sharma (17 not out) and Shreyas Iyer (4 not out) securing the win.
The series is now leveled, as South Africa had won the first Test at Centurion.
In 2023, Burj Khalifa apartments witnessed a surge in sales, surpassing AED 1 billion, with a 22% increase in total deals to 117.
The iconic tower outperformed the city with a 17% higher average price, reflecting the growing number of long-term investors and end-users. Data from real estate consultancy Knight Frank revealed a 52% decrease in available homes for sale, indicating a shift towards a longer-term residency mindset.
The tower accounted for 7% of Downtown sales, amounting to AED 14.6 billion. The most expensive unit sold for AED 15 million, signaling sustained price growth in the Burj Khalifa.
On Thursday morning, UAE gold prices maintained stability following a dip of AED2.75 per gram, which marked a two-week low on the previous Wednesday evening. According to data from the Dubai Jewellery Group, 24K gold was traded at AED247.5 on Thursday morning, in contrast to the AED250 at the market’s opening on Wednesday. Additionally, other gold variants such as 22K, 21K, and 18K were trading at AED229.25, AED221.75, and AED190.0 per gram, respectively.
The decline in gold prices on Wednesday was attributed to the strengthening of the US dollar, with spot gold slightly down at $2,042.99 per ounce on Thursday morning. Analysts, including Rania Gule, a market analyst at XS.com, noted that gold turned bearish amid a cautious market environment and faced selling pressure as investors reassessed their expectations for a Federal Reserve interest rate cut in March.
Gule highlighted that the lack of crucial information about interest rate cuts from Federal Reserve officials in the FOMC meeting minutes weakened gold’s attractiveness in the short term, supporting the strength of the US dollar and Treasury yields. She further stated that the reduced likelihood of a short-term interest rate cut might weaken gold’s attractiveness in the near term, particularly after Federal Reserve Chair Jerome Powell mentioned in the recent monetary policy statement that interest rate cuts would be a topic for future discussion, causing market mood swings and high volatility.
Vijay Valecha, Chief Investment Officer at Century Financial, added from a technical perspective, the recent setback near the all-time high closing, approximately in the $2,077-2,078 range, and the subsequent decline should alert cautiousness among bullish traders.
Ukraine and Russia recently completed their first prisoner exchange in nearly five months, with over 200 individuals released by each side. Moscow attributes the success of this “complex negotiation” to the mediation efforts of the UAE.
Russia’s defense ministry reported the handover of 248 military personnel by Ukraine, while Kyiv brought home 230 individuals, marking one of the largest documented troop swaps. The POW coordination center in Ukraine acknowledged the UAE’s role in the exchange without providing specific details.
Despite ongoing conflict, both nations have engaged in numerous prisoner swaps since Russia’s invasion in February 2022, although the frequency has decreased in 2023, with the last exchange occurring in August.
Dubai’s Global Village has set a record with the introduction of an eight-meter giant falcon sculpture at its Mini World, surrounded by 25 miniature replicas of renowned global landmarks.
Certified by Guinness, the illuminated steel falcon pays homage to the UAE’s national bird, boasting a wingspan exceeding 22 meters and adorned with 50,000 lights, creating a captivating Instagrammable spot.
As part of the Mini World attraction, the sculpture joins iconic landmarks like the Eiffel Tower, Taj Mahal, Sheikh Zayed Grand Mosque, Burj Khalifa, and the Statue of Liberty. Global Village, in its 28th season, aims to captivate visitors until April 28, following its recognition as the region’s most visited attraction in 2023.
