Gold Prices in Dubai Reach New Heights as 22K Hits Dh304 per Gram

Gold prices in Dubai surged to an all-time high on Friday, driven by a global increase that saw gold surpass $2,700 per ounce. According to the Dubai Jewellery Group, 24K gold rose by Dh2.50, now priced at Dh328.25 per gram. Meanwhile, 22K gold hit Dh304 per gram, with 21K and 18K priced at Dh294.25 and Dh252.25 per gram, respectively.

Chris Weston, head of research at Pepperstone, noted that gold bulls are closing the week with renewed confidence after major price milestones were broken. The breakthrough above the $2,700 mark has left sellers absent from the market, further driving prices up.

Weston acknowledged the rapid rise in gold’s value, commenting on the steady demand for this safe asset amid market volatility. While gold’s price movement lacks the volatility seen in cryptocurrencies, its stability appeals to risk-averse investors.

Deenar’s co-founder, Maruf Yusupov, highlighted gold’s strong performance in recent months, achieving multiple record highs. He credited this growth to central bank policies and regional conflicts, which have boosted investor sentiment towards gold as a reliable safe haven.

As of Friday, the global price of gold stood at $2,708.44 per ounce, marking a 0.55% increase.

UAE Pioneers Palm ID Technology for Payments: Goodbye Cards and Apps

In a groundbreaking move, the UAE is set to become the first country in the Middle East to introduce ‘Palm ID’ technology for payments and cash withdrawals. Soon, residents won’t need credit cards, mobile apps, or traditional payment methods. Instead, a simple palm scan will complete transactions.

This cutting-edge technology is being developed by the Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) and is currently in the final stages of development. It aims to link residents’ palm vein biometrics to their personal profiles, offering a faster, more secure, and seamless experience for accessing services and making payments.

Unveiled at Gitex Global 2024, Palm ID is part of the UAE Vision 2031 initiative. The technology will be available in public and private sectors, allowing residents to pay bills, withdraw cash from ATMs, and even access metro stations by scanning their palms instead of using cards.

Palm ID offers a less intrusive alternative to facial recognition technology, as the unique patterns of each person’s palm veins ensure security and privacy. Registration will be simple—residents can link their biometrics to their Emirates ID or other official documents through the ICP platform.

The UAE is expected to roll out Palm ID once the regulatory framework is completed, marking a new era in smart living and digital innovation.

UAE’s GDP Expected to Grow by 4.1% in 2025, Says World Bank

The World Bank has announced that the UAE’s economy is projected to grow by 3.3% in 2024 and then increase to 4.1% in 2025. This information comes from their latest semi-annual report on the Middle East and North Africa (MENA) region.

The report highlights that the UAE will see the highest growth in real GDP per capita, estimated at 2.5% in 2024 and 3.4% in 2025, mainly due to strong performance in the non-oil sector.

However, the UAE’s current account surplus, which reflects the country’s earnings from exports versus its spending on imports, is expected to decrease from 9.2% of GDP in 2023 to 7.5% in 2024. Despite this, the UAE is predicted to maintain healthy fiscal surpluses of 4.9% of GDP in 2024 and 4.7% in 2025.

In terms of regional growth, the overall GDP for MENA is anticipated to rise to 2.2% in 2024, up from 1.8% in 2023. The Gulf Cooperation Council (GCC) countries, including the UAE, are expected to see stronger growth, increasing from 0.5% in 2023 to 1.9% in 2024 and further to 4.2% in 2025.

While oil-importing countries in the region may experience slower growth, oil-exporting countries are forecasted to see a decline in their growth rates as well.

Overall, the UAE is set to continue its path toward economic expansion, driven by its diversification efforts and robust non-oil sector performance.

 

Abu Dhabi Announces Plans for Second Sphere Entertainment Venue in Partnership with Sphere Entertainment Co

Abu Dhabi is set to host the world’s next Sphere entertainment venue, following in the footsteps of Las Vegas. The announcement was made by Sphere Entertainment Co. and Abu Dhabi’s Department of Culture and Tourism on Tuesday, positioning the UAE capital as the next destination for cutting-edge multimedia entertainment housed in a giant, glowing spherical structure.

The new Sphere will play a key role in Abu Dhabi’s Tourism Strategy 2030, which seeks to enhance the city’s reputation as a global hub for culture and innovation. H.E. Mohamed Khalifa Al Mubarak, chairman of the Department of Culture and Tourism Abu Dhabi, emphasized that the project aligns with the emirate’s commitment to pioneering new standards in immersive entertainment.

“By embracing groundbreaking entertainment projects like Sphere, we are not only elevating Abu Dhabi’s global profile but also setting new benchmarks for immersive experiences and cultural offerings,” Al Mubarak said in a news release.

James L. Dolan, executive chairman and CEO of Sphere Entertainment, shared that this new location will expand the company’s vision of establishing a global network of venues. While details about the Abu Dhabi Sphere’s exact location remain undisclosed, the new venue will mirror the impressive scale of the Las Vegas Sphere, which boasts a capacity of 20,000 and has redefined entertainment experiences since opening in September 2023 with performances by rock legends U2.

The Las Vegas Sphere, standing 366 feet tall and 516 feet wide, is recognized as the world’s largest spherical structure. Inside, it features the world’s highest-resolution wraparound LED screen, offering an immersive visual spectacle. The exterior, fitted with 1.2 million LED lights, allows dynamic imagery to be displayed on a massive scale, making it a visual landmark in its own right. The Las Vegas venue cost a staggering $2.3 billion to construct.

The Abu Dhabi project is part of a franchise agreement between the city’s tourism authorities and Sphere Entertainment, subject to the finalization of definitive agreements. While details about the construction timeline and cost remain unavailable, funding for the venue will come from Abu Dhabi’s Department of Culture and Tourism, with a franchise initiation fee payable to Sphere Entertainment for the right to develop the venue.

As plans move forward, Abu Dhabi is set to further cement its status as a leader in innovative entertainment and cultural experiences, building on the success of the Sphere in Las Vegas and aiming to provide audiences with an unforgettable new venue.

Range Developments Launches The Beach Vista at Al Marjan Island, Offering Prime Beachfront Living Opposite Wynn Resort

On October 15th, Range Developments successfully launched The Beach Vista at Al Marjan Island, Ras Al Khaimah, during an exclusive event held at the Bluewaters Forum, Banyan Tree Dubai. The prestigious launch drew significant interest from brokers, providing a first look at the last beachfront residential project directly opposite the Wynn Al Marjan Resort—MENA’s first iconic gaming destination.

The event, hosted by Range Developments’ Managing Directors Mohammed Asaria and Riaz Shariff, showcased The Beach Vista as an unparalleled opportunity for luxurious beachfront living. Brokers were introduced to the development’s standout features through detailed presentations, a 3D model, and insights from the Range Developments team. Known for its global expertise, Range Developments has earned a reputation for creating world-class luxury resorts and residential properties.

The Beach Vista will feature 151 units, ranging from 14 studios, 120 one-bedroom residences, and 17 two-bedroom apartments, many of which offer breathtaking views of both the beach and the Wynn Al Marjan Resort. The development promises a premium lifestyle with exclusive access to resort-style amenities such as a swimming pool, gym, and residents’ club, all just minutes away from Al Marjan Island’s vibrant entertainment and dining options.

Range Developments’ portfolio includes highly acclaimed projects like The Beach House and The Beach Residences, both also located on Al Marjan Island. The Beach Vista marks their third project on the island, further solidifying their reputation for delivering spectacular beachfront properties.

Globally, Range Developments has completed projects such as the Park Hyatt St. Kitts and the InterContinental Dominica Cabrits Resort & Spa, and they are currently finalizing the InterContinental Grenada Resort, set to open in 2026.

The exclusive Beach Vista launch signals strong demand for beachfront living in Ras Al Khaimah, where the real estate market continues to flourish. With the Wynn Al Marjan Resort set to elevate the region’s tourism and economy, The Beach Vista offers an exceptional investment opportunity, combining luxury living with high potential returns. Prices for the units start at AED 1,140,000, with a 70/30 payment plan.

“Ras Al Khaimah is rapidly emerging as a top destination, and The Beach Vista, being the last beachfront development opposite the Wynn Resort, represents an exclusive investment in this dynamic market,” said Mohammed Asaria. With limited units available and strong demand, The Beach Vista offers an unparalleled opportunity for those seeking beachside luxury in one of the UAE’s most sought-after locations.

UAE Tourism Sector Set for Major Growth, Aiming to Contribute $100 Billion to Economy

The UAE’s tourism sector is expected to witness a significant surge, with predictions showing that the industry could contribute a remarkable $100 billion to the national economy in the near future. This growth comes as a direct result of the country’s strategic visa reforms and eased entry requirements, which are making it increasingly easier for tourists from a wide range of countries to visit.

Recent reforms include the introduction of long-term tourist visas and the expansion of the visa-on-arrival program, which has made spontaneous travel to the UAE much more accessible. These changes have also played a key role in attracting both short-term visitors and long-term expatriates, boosting the overall appeal of the country as a top global tourist destination.

The UAE’s diverse offerings, from its luxurious city experiences in Dubai and Abu Dhabi to the cultural heritage of Sharjah and natural beauty of Fujairah, are also drawing attention from international tourists. As the country continues to innovate and enhance its tourism infrastructure, industry experts predict an even greater influx of visitors.

Furthermore, major upcoming events such as Expo 2025 and global conferences continue to attract international attention, further driving tourism demand. The UAE government has committed to ongoing investments in the tourism sector, ensuring that the infrastructure can support the anticipated growth in both visitor numbers and economic contribution.

With the combination of visa reforms, diverse attractions, and world-class events, the UAE is positioning itself as a leading hub for global tourism, with the potential to significantly boost its economy and cement its status as a premier travel destination.

Amir Fotoohi: The Rise of N&A Productions in Dubai’s Digital Landscape

Amir Fotoohi, popularly known as N&A Productions, has emerged as a significant figure in the world of online content creation, particularly within the vibrant landscape of Dubai’s social media scene. Since launching his YouTube channel in 2016, Amir has captivated millions with his engaging content, which primarily features pranks, challenges, vlogs, and gaming. His channel’s rapid growth, boasting over 2.9 million subscribers and more than 480 million views, is a testament to his creativity, charisma, and ability to connect with a diverse audience.

Early Life and Career Beginnings

Amir was born in Iran but moved to Dubai, where he discovered his passion for content creation. Growing up, he was fascinated by video games and digital media, which laid the foundation for his future career. His early videos primarily showcased gaming content, but Amir soon realized that his real strength lay in entertaining a broader audience through humor and relatable experiences.

 

The Transformation to N&A Productions

As his subscriber base began to grow, Amir decided to rebrand his channel as N&A Productions, reflecting his focus on producing high-quality content. This shift marked the beginning of a new era for Amir, as he delved into pranks and challenges that garnered widespread attention. His unique style often involves surprising unsuspecting strangers with outrageous and comedic setups, which not only entertains but also evokes genuine reactions that resonate with viewers.

 

Notable Achievements and Content

Over the years, N&A Productions has amassed a loyal fan base, with some of Amir’s most popular video series including the 3AM series, a sketch-based comedy that keeps viewers on the edge of their seats. He often collaborates with other influencers and friends, enhancing the entertainment value and broadening his reach within the online community.

Despite the light-hearted nature of his content, Amir’s journey has not been without challenges. He has publicly shared the impact of his father’s passing, using his platform to advocate for mental health awareness and resilience. His openness about personal struggles has endeared him to fans, who appreciate his authenticity and vulnerability.

Boxing Journey and Transformation

Amir Fotoohi also began his boxing journey through Social Knockout, where he faced off against megastar Slim Albaher, who is set to headline the Misfits Qatar card. Although the match didn’t go his way, Amir showcased remarkable resilience and determination, returning to the ring just three months later to secure a victory. His physical transformation from being skinny and underweight to becoming a fitness enthusiast with an impressive physique highlights his dedication to personal growth and health. Rumors are circulating that Amir may appear on the upcoming Misfits Supercard in Qatar, further exciting his fan base.

Impact on the Influencer Landscape

Amir’s influence extends beyond entertainment; he represents a new generation of creators who leverage their platforms for positive impact. His ability to cultivate a loyal fan base while staying true to his roots highlights the evolving landscape of social media, where authenticity and connection are paramount.

 

Conclusion

Amir Fotoohi’s story is one of determination, creativity, and resilience. As N&A Productions continues to grow, Amir’s journey serves as an inspiration for aspiring content creators navigating the complexities of the digital age. His ability to adapt, innovate, and connect with his audience solidifies his position as a key player in Dubai’s influencer scene, proving that success comes from staying true to oneself while embracing new opportunities.

For those looking to follow Amir’s journey, you can find him on N&A Productions and witness the evolution of a talented creator who is redefining the landscape of content creation in the MENA region.

 

UAE on Track to Surpass 2030 Renewable Energy Goals, IEA Reports

UAE Set to Exceed 2030 Renewable Energy Targets as IEA Highlights Key Industry Challenges

The United Arab Emirates (UAE) is on track to surpass its renewable energy capacity goals for 2030, according to the latest report by the International Energy Agency (IEA), titled Renewables 2024. This comes as part of the broader regional goal set by the Middle East and North Africa (MENA) to achieve a combined capacity of 201 gigawatts (GW) of renewable energy by the end of the decade.

While the UAE is making significant progress, the report highlights potential shortfalls in the overall MENA region, forecasting that the target may be missed by 26%. Countries such as Saudi Arabia, Egypt, and Algeria, which collectively represent nearly 60% of the region’s total ambition, are expected to face challenges in meeting their 2030 renewable energy targets despite a more optimistic outlook than last year.

The IEA identifies three critical factors that could drive a 60% increase in renewable capacity across the region, potentially adding an additional 152 GW of energy to help bridge the gap.

Faster Auction Processes: A key recommendation from the IEA is to accelerate the auction timelines for renewable energy projects. Current processes, which involve opening tenders, selecting winners, and signing Power Purchase Agreements (PPAs), can stretch beyond a year. Streamlining these steps would help bring projects to market more efficiently, boosting installed capacity sooner.

Enhanced Regulatory Environment: The report also calls for improvements in the policy and regulatory frameworks governing distributed solar photovoltaic (PV) systems. Although some MENA countries have established legal structures for self-consumption and net metering, the commercial and residential deployment of such systems remains low. The UAE is one of the few countries in the region that has successfully implemented these frameworks.

Greater Market Participation: Finally, the IEA underscores the importance of encouraging more industrial electrification and removing entry barriers for new players in the renewable energy market. Expanding access to corporate PPAs could significantly increase renewable energy adoption by businesses and industries.

With these measures in place, the MENA region, including major players like Saudi Arabia and Egypt, could see accelerated growth in renewable energy, bringing them closer to their ambitious 2030 goals. However, the UAE stands out as a regional leader, already exceeding expectations and setting a strong example for others to follow.

$LVLY Token Now Listed on Gate, MEXC, and Uniswap; New Roadmap Unveiled

$LVLY Token Debuts on Major Exchanges with Exciting Roadmap for Future Growth

The $LVLY token has officially launched on Gate, MEXC, and Uniswap, offering greater accessibility to a growing number of investors and enthusiasts. These strategic listings mark a significant step forward for the platform, with more exchange listings planned in the near future as part of its broader expansion goals.

In addition to these listings, the platform has also revealed an updated roadmap that outlines major developments slated for the upcoming months. Among the key highlights is the release of a dedicated mobile app, expected to launch in Q4 2024. This app will serve as a cornerstone of the platform’s growth strategy, offering users an enhanced experience and new functionalities designed to drive engagement and attract a larger global audience.

The roadmap also teases several new features, aimed at expanding the platform’s reach and building a stronger community worldwide. With these developments, $LVLY continues to position itself as a dynamic player in the DeFi space, combining innovative technology with a user-focused approach to growth.

As $LVLY continues to evolve, investors can look forward to additional exchange listings and a range of exciting product releases that will enhance the platform’s utility and adoption across the globe.

Union Properties Unveils $544M ‘Takaya’ Project in Dubai Motor City

Union Properties has officially launched its latest and highly anticipated project, ‘Takaya,’ marking a key milestone in the evolution of Dubai’s real estate landscape. The unveiling took place at a prestigious event hosted at the Ritz Carlton in Dubai International Financial Centre (DIFC), where Eng. Amer Khansaheb, the CEO and Board Member of Union Properties, highlighted the company’s dedication to shaping the future of Dubai’s real estate market.

Designed to elevate the offerings within Dubai Motor City, the ‘Takaya’ project is a mixed-use development with a projected value of AED 2 billion ($544 million). The project covers an expansive plot of 436,175 square feet and includes three residential towers overlooking the iconic Dubai Autodrome. The development will feature 744 residential units, ranging from studios to spacious penthouses, townhouses, villas, and commercial spaces, providing luxurious living at accessible price points.

Eng. Khansaheb emphasized the innovative and sustainable approach of the project, which aims to enhance the master community while catering to a diverse customer base. “With Takaya, we are committed to delivering unparalleled amenities that not only attract investors but also meet the evolving needs of our residents,” he remarked. The development is set to include a 500-metre retail boulevard and a variety of upscale facilities, such as outdoor sports courts, leisure pools, jogging paths, and children’s play areas.

Takaya will also incorporate cutting-edge smart building management systems, designed to optimize energy use and reduce operational expenses. Each tower’s ground floor will host an array of retail, dining, and essential service outlets, creating a vibrant community environment. Additionally, the project will provide 150 parking spaces, all equipped with electric vehicle (EV) charging stations.

As part of its broader vision, Union Properties plans to launch projects valued at AED 6 billion ($1.63 billion) over the next 18 months. “Our extensive market expertise allows us to seize new opportunities, and we are committed to creating future-ready environments that offer residents an exceptional quality of life,” Khansaheb added.

Takaya is slated for completion in Q4 2027, further contributing to Union Properties’ goal of delivering innovative, sustainable, and vibrant communities across Dubai.