At $1,810/ounce, gold drops to lowest price level in 2023, opening up buying for UAE shoppers, tourists.
Vijay Valecha, Chief Investment Officer, Century Financial
The metal slumped the most in a month yesterday and was hovering close to its lowest point this year near $1810 after Chair Powell’s hawkish remarks prompted a shift in expectations toward a larger interest rate hike than previously anticipated. Powell stated that the US central bank is likely to increase interest rates by more than what was previously thought and is prepared to accelerate the pace of these hikes if the economic data justifies it. Consequently, the market is now expecting a 50-bps hike instead of the previously expected 25-bps move at the Fed’s next policy meeting on March 22. This has resulted in a surge in the dollar and treasury yields, which has put pressure on the yellow metal. As the metal doesn’t offer any interest and is denominated in dollars, any rise in interest rates puts downward pressure on the metal, while an increase in the dollar’s value makes the metal more expensive in other currencies. Recent data indicates that total holdings in gold-backed ETFs have declined for seven consecutive days, falling from 92.72 million on February 27, 2023, to 91.84 million on March 7, 2023.
Reflecting the fall in the international markets, 22k gold prices fell to Dh 203 overnight from Dh 205.75 creating an opportunity for domestic and tourist shoppers in the UAE to make a few purchases. Going by the trends in the past, prices around Dh 200 per gram tend to trigger a rush of buyers and should provide a boost to the gold retailers. Additionally, with the wedding season underway and Akshay Tritiya approaching next month, any drop in gold prices is likely to attract shoppers.
Meanwhile, China increased its gold reserves for the fourth consecutive month in February, following the lead of other central banks in raising their holdings. Reopening demand for jewelry and technology in China may provide the necessary support for gold and prevent significant losses. However, investors should monitor critical levels at $1800 and $1778, as they correspond to the 100- and 200-day moving averages, respectively. These levels should act as strong support, however, a break below these levels could trigger further pressure for the non-yielding metal with the next support seen between $1730-$1760.
NAMA Women Advancement launches ‘Jawaher Fund for the Advancement of Women’s Education’
Jawaher Al Qasimi: Granting women fair and equal access to quality education is one of society’s
most essential bids to achieve progress and stability.
For immediate release
Sharjah, March 08, 2023
Her Highness Sheikha Jawaher bint Mohammed AlQasimi, Wife of His Highness the Ruler of Sharjah and
Chairperson of NAMA Women Advancement (NAMA), has stressed that in light of the transforming needs
of modern economies and societies, enabling women worldwide seamless access to scientific and
technical disciplines has become a critical component in fulfilling their right to education.
Granting women fair and equal access to quality education is one of society’s most essential bids to
achieve progress and stability, Her Highness Sheikha Jawaher bint Mohammed Al Qasimi, the
Chairperson of NAMA, has described as the entity launches a global fund, the ‘Jawaher Fund for the
Advancement of Women’s Education’, coinciding with the global observance of International Women’s
Day.
Aligned with the strategic objectives of NAMA, the Fund has two categories. The first category,
“International Scholarships,” focuses on offering women from developing countries the opportunity to
pursue master’s degree.
The second category, ‘Research Grant Awards’, has been instituted to support research work being
pursued by both male and female students as well as faculty at selected universities. These research
projects must have a gender focus across science, technology, engineering and mathematics (STEM),
health, social sciences, business, and finance.
Jawaher Al Qasimi: Countless brilliant minds among us who need the right impetus
“The fund mainly focuses on young women as we believe there are countless brilliant minds amongst us
who require impetus to realise their full potential. These new scholarships have been designed to support
bright women across developing nations in their endeavours to pursue graduate studies. Investing in
women will ultimately serve as an investment in society at large. We must understand that the only way to
achieve real, sustainable and meaningful progress is by empowering women with academic knowledge,
which will enable them to do well professionally and achieve real and meaningful female-male
partnerships around the world,” Her Highness Sheikha Jawaher bint Mohammad Al Qasimi opined.
The Jawaher Fund for the Advancement of Women’s Education reinforces NAMA’s ongoing commitment
and work to create enabling environments and provide access to vital tools and resources, which come
together to assist women around the world. A significant component of the fund is its focus on promoting
gender-focused research and data collection across many disciplines in order to strengthen the world’s
understanding of how the dynamics of gender have a sizable impact on societies and economies.
Initial fund disbursements allocated to female students in Sharjah and Pakistan
NAMA will communicate and coordinate with educational institutions in the countries where the Fund
programme is offered.
The entity has already mobilised the Fund’s initial disbursements for female researchers in partnership
with the University of Sharjah under the “Women in Research” forum as well as at the National University
of Sciences & Technology (NUST) in Islamabad, Pakistan, in collaboration with NUST’s trust fund. The
grants for NUST’s female students have been allocated following Her Highness Sheikha Jawaher Al
Qasimi’s visit to NUST in 2020 during which she met with the university officials and identified targeted
strategies to fulfil students’ needs.
Under the directives of Her Highness Sheikha Jawaher bint Mohammad Al Qasimi, NAMA prioritises
education as well as vocational and academic training for women across all of its programmes and
initiatives.
Universities interested in the fund are encouraged to contact the NAMA team through
programs@namawomen.ae or visit https://www.namawomen.ae/en/project/jawaher-fund for more
information.
Bologna Children’s Book Fair 2023: PublisHer puts women centre stage in programme during International Women’s Day
PublisHer—the movement started by Emirati entrepreneur Bodour Al Qasimi to level the
publishing playing field and remove career barriers obstructing women—has switched up a gear
by building its first ever stand at a major international book fair.
Bodour started PublisHer in 2019 by hosting networking events on the margins of book fairs,
and it has grown steadily in stature and influence despite two years of virtual-only activity during
the coronavirus pandemic.
This year the founder and CEO of Kalimat Group has vowed to level up her initiative, starting
with a large stand at Bologna Children’s Book Fair (BCBF), made possible with the support of
fair director, Elena Pasoli, who sits on the PublisHer Advisory Board.
The PublisHer stand (Hall 29, B36-C45) has been designed as a forum for debates and
speeches (on 7 March), dealmaking, meetings, and an International Women’s Day networking
breakfast, which took place this morning in partnership with Canadian publisher, Kids Can
Press.
Stand visitors are also invited to answer a digital questionnaire. The data gathered will inform
future PublisHer initiatives, which may include updating the 2020 Diversity and Inclusion
Diagnostic Toolkit, developing mentorship programs, and setting up other industry events.
Opening the International Women’s Day breakfast, Bodour asserted that publishers have a duty
to proactively include women’s voices in their business practices and output.
‘Women (…) still face many obstacles, from gender bias and discrimination to a lack of
representation in leadership positions,’ she said. ‘That’s why as publishers we have a
responsibility to create platforms and opportunities to amplify women’s voices, to make them
heard and, most importantly, to make them understood,’ she said.
To join the PublisHer community of publishers, businesses, donors, and nonprofits, and to
support the work to bring gender equity to world publishing can visit
https://womeninpublishing.org/supporters/.
Sultan bin Ahmed Al Qasimi inaugurates The Big Heart
Secondary School for Girls in Kenya’s Kalobeyei Settlement
His Highness Sheikh Sultan bin Ahmed Al Qasimi, Deputy Ruler of Sharjah and Humanitarian
Envoy of The Big Heart Foundation (TBHF), has inaugurated The Big Heart Secondary School
for Girls in Kalobeyei settlement near Kakuma camp in Kenya. Launched by TBHF with the
funding of Sharjah Charity House and in collaboration with the United Nations High
Commissioner for Refugees (UNHCR), this first-ever boarding secondary school for girls in the
area will annually provide 360 students – both refugees and girls from the surrounding host
community – access to high-quality education and safe boarding facilities.
HH Sheikh Sultan bin Ahmed Al Qasimi led the delegation from Sharjah to the Republic of
Kenya for the official field visit, during which they toured the school facilities. The delegation
included H.E Hassan Yacoub Al Mansoori, Director of the office of HH Sheikh Sultan bin Ahmed
Al Qasimi; H.E Mariam Al Hammadi, TBHF Director; H.E Ali Mohammed Al Khayyal, Vice
President of the Board of Trustees of Sharjah Charity House; H.E Rashid Abdullah Al Obeid,
Director of Sharjah Broadcasting Authority; H.E Adel Abdulla Mohamed, Board Member and
Group CEO Air Arabia; H.E Saeed Ghanim Al Suwaidi, CEO Al Ghanem Investments and
Developments; and H.E Abdelghani Hassan Mohamed, IFFCO Group Corporate Affairs and
Business Development Director.
HH emphasised the importance of humanitarian education projects and its long-term impact on
young generations who will be able to build a better future for refugee communities.
The school fills a major gap in secondary education requirements of girls in the target
communities in Kenya, where only 5 percent girls had access to secondary education. The new
school premises, spread across six buildings comprising classrooms, dormitories, a library, a
theatre, a laboratory, and a management building will offer a holistic opportunity for growth and
development.
The newly inaugurated school offers a safe and secure learning environment that caters to the
educational needs of girls. It provides boarding facilities and a library to girls from the refugee
and hosting communities who face various social challenges such as early or forced marriage,
child labour, unaccompanied minors, separated children, and disabled girls. Moreover, the
school addresses the high demand for education as Kakuma camp and Kalobeyei Integrated
Settlement have a population of over 196,666 registered refugees and asylum-seekers.
During the visit, HH Sheikh Sultan bin Ahmed Al Qasimi and TBHF Humanitarian Envoy and the
accompanying delegation were briefed on the school’s significance and its impact on the lives of
girls. Settlement officials praised TBHF’s vision and firm belief that education is the strongest
tool for girl empowerment, particularly for refugee girls, as it improves the livelihood and quality
of life of all communities. The management highlighted that girl students in the Turkana County
region, where Kakuma camp and Kalobeyei settlement are located, account for almost 25% of
the overall enrollment. They emphasised that the school would provide these girls with the
opportunity to access education, overcome the challenges they face and improve their livelihood
and quality of life.
“The advancement of the education system and investment in knowledge infrastructure is one of
the key pillars of the UAE’s vision. It is a key factor of Sharjah’s identity and cultural project. This
is why the focus on educational humanitarian projects has been a top priority in Sharjah’s efforts
at the regional and global levels, in line with the vision of His Highness Sheikh Dr. Sultan bin
Mohammed AlQasimi, Member of the Supreme Council and Ruler of Sharjah, who believes that
making positive change in society starts with enhancing the foundations and methods of
education. Well-educated human capital is capable of making an essential difference and
shaping the future of society and the nation,” said His Highness the Deputy Ruler of Sharjah.
“Investing in education is a credible path to achieve a significant transformation in the lives of
refugees and displaced persons worldwide. That is why sustainable education is a central
strategic pillar in TBHF’s humanitarian projects, and this is what we are witnessing today at the
inauguration of The Big Heart Secondary School for Girls in Kalobeyei Settlement. With the
unwavering support and under the directives of Her Highness Sheikha Jawaher bint Mohammed
Al Qasimi, wife of His Highness the Ruler of Sharjah, Chairperson of The Big Heart Foundation
and UNHCR Eminent Advocate for Refugee Children, the Foundation’s aspiration has provided
long-term solutions for less fortunate communities in Kenya. The implementation of this
approach strikes a balance between providing immediate relief aid on the one hand, and
assistance that targets the underlying infrastructure and focuses on sustainable sectors on the
other,” His Highness the Deputy Ruler of Sharjah added.
In the region where The Big Heart Secondary School for Girls has been established, there
currently exist 26 primary schools and seven secondary schools, which collectively cater to the
educational needs of 13,000 students. The secondary schools include a boarding school for
girls in Kakuma camp and another non-boarding school for girls in Kalobeyei Settlement. In
2019, over 400 girls submitted applications for admission to the school, but due to spatial
constraints, only 90 students could be accommodated. The newly established school is
expected to increase the capacity and facilitate greater accessibility to secondary education,
thereby creating more opportunities for young girls to acquire knowledge, skills and improve
their life prospects.
SBA brings Hindi translations of 70 Emirati titles to New Delhi World Book Fair 2023
During its participation at the 31st edition of the New Delhi World Book Fair
(NDWBF), the Sharjah Book Authority (SBA) showcased more than 70 publications
by Emirati writers translated to Hindi by SBA. This cultural initiative by SBA has
shined light on Sharjah’s leading efforts to support the global publishing industry as
well as readers who want to discover narratives from different cultures.
On the first day of the event, which was inaugurated by HE Dr. Rajkumar Ranjan
Singh, India’s Minister of State for External Affairs and Education, HE Ahmed bin
Rakkad Al Ameri, Chairman of SBA presented a collection of books written by His
Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme
Council and Ruler of Sharjah, translated into Hindi. HE Singh received the gift on
behalf of His Excellency Subrahmanyam Jaishankar, Minister of External Affairs, and
His Excellency Dharmendra Pradhan, Union Minister of Education and Skill
Development and Entrepreneurship.
“Sharjah’s presence at the NDWBF furthers our mission to turn the spotlight on the
emirate’s cultural achievements, which have positioned it as a gateway to Arab
culture and civilisation, under the guidance of His Highness Sheikh Dr. Sultan bin
Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah,” said
HE Ahmed Al Ameri.
“Our goal is to bolster Sharjah’s presence at such international events, through
which we can promote the emirate’s influential role in the global publishing industry,
while contributing to the promotion of Arab culture in India. We also seek to develop
translation projects from Arabic into Hindi, boost cross-cultural communication, and
enhance cooperation between Arab and Indian cultures, in line with Sharjah’s vision
as one of the region’s leading cultural centers,” Al Ameri added.
During the event, SBA’s delegates met with National Book Trust (NBT)
representatives and a group of Indian publishers, exploring prospects for developing
the publishing industry collaboratively.
The SBA educated leading publishers on the plethora of opportunities Sharjah offers
to the publishing sector community, through its year-long initiatives and events that
have become vibrant platforms for supporting creative industries and bringing
together authors and publishers. Those include the Sharjah International Book Fair
(SIBF), Sharjah Children’s Reading Festival (SCRF), Publishers Conference (PC),
and National Libraries Summit (NLS), to name a few.
Furthermore, the SBA highlighted the opportunities that the Sharjah Publishing City
Free Zone (SPCFZ) offers to investors in the publishing sector and creative
industries. Moreover, it provided participants in the exhibition with insights into the
Translation Grant, Sharjah International Literary Agency (SILA), and Arab Children’s
Book Publisher Forum (ACBPF), along with other opportunities that enhance cultural
exchange, encourage translation, and support quality publishing initiatives.
INTERCONTINENTAL HOTELS AT DUBAI FESTIVAL CITY BRINGS EXCLUSIVE RAMADAN FLAVOURS, STAYCATIONS AND EXPERIENCES
Dubai, UAE, 6 March 2023 – Ramadan is around the corner, and InterContinental Hotels at Dubai
Festival City is all set to offer guests a renewed focus on spending time with friends and family, in
addition to embracing the spirit of the holy month. While guests will have the opportunity to indulge
in Iftar and Suhoor offerings specially curated by world-class chefs in four distinct venues, they will
also have access to stunning staycation offers.
“Ramadan is a special occasion to connect, bond and make memories. This Ramadan, we want
guests to experience family-time and luxury at the same time. Our offerings have been curated and
designed in a way to enable our visitors to enjoy unique experiences, lavish Iftar and Suhoor
spreads, as well as feel pampered all the way through. That’s not all, those with a penchant for
opulence, will be able to get a taste of the finest staycation deals at best prices. We are optimistic
that guests this year will be able to experience exclusivity like never before,” said Thomas
Schmelter, Area General Manager InterContinental Hotels at Dubai Festival City.
Iftar at Anise – Taste the world this Ramadan with vistas of Dubai Creek and the iconic
IMAGINE show
If you are looking to embark on a culinary journey around the world and experience first-hand the
abundance of authentic flavours, look no further than InterContinental Dubai Festival City’s opulent
Iftar at Anise. Serving delectable Arabian delicacies from Levantine and North Africa, Anise will host
eight interactive live cooking stations offering Thai, Indian, Japanese, Levantine, and Arabic cuisine
cooked à la minute with locally sourced ingredients putting high emphasis on organic produce.
This year, guests will have the opportunity to experience Ouzi, a braised whole lamb, authentic Saj
bread by ‘Mama Jamal’ which goes back to 48 years of experience with bread making based on
inherited traditional methods passed on to generations from mother and grandmother. Guests will
also have an exclusive treat of the famous homemade Arabic pastries by Chef Chadi Abou Fakher,
and Arabic flavoured ice cream. What makes this Iftar special, is the spectacular outdoor terrace
with views across the Dubai Creek in addition to entertainment by the iconic IMAGINE show, an
ever-changing immersive laser, light, water multi-sensory extravaganza on Festival Bay at Dubai
Festival City Mall every night after sunset.
Time: After Sunset, Shisha will be served after 7pm
Price: AED 289 per person, AED 125 for kids aged 6-12 and kids under 6 years dine
complimentary
Location: InterContinental Dubai Festival City
Iftar at Karam Al Bahr – Enjoy a bountiful Iftar with loved ones
Karam Al Bahr takes on the legacy of Karam Beirut, the family’s restaurant that was present in
‘Hayy el Zeitunay’ over 60 years ago. This year, guests will enjoy a bountiful Iftar menu with
authentic Lebanese offerings, which comprise of Ramadan favourites including soup, a variety of
hot and cold Mezzeh, mixed grill and Lebanese sweets with refreshing Ramadan drinks. The
traditional restaurant also stocks a wide range of fresh fish and exquisite Lebanese dishes that are
perfect for lunch or dinner. A family-friendly venue, Karam Al Bahr is the place to be if you’re a sea
food lover. Dine in style with a great view at the outdoor terrace with shisha or enjoy the warm
Mediterranean ambiance when indoors.
Time: After sunset to 8.00 PM
Price: AED 175 per person, Shisha will be served after 7pm
Location: InterContinental Dubai Festival City
Iftar at Zaytoun – Break your fast under the stars with astonishing views of the Dubai Skyline
Head to Zaytoun to experience a lavish Iftar! Overlooking Dubai Creek and the Burj Khalifa, Zaytoun
serves up the best of culinary delicacies. Its alluring terrace hosts a sumptuous Iftar spread of
authentic Arabian delicacies featuring Levantine favourites, and international flavours with weekly
culinary highlights! If you enjoy outdoors, don’t miss the Mashawi Station that offers a sumptuous
selection of freshly grilled meats and seafood prepared à la minute.
Time: Iftar is offered from 6.30 to 8.30pm, Shisha will be served after 7pm
Price: AED 195 per person, AED 85 for kids aged 6-12 and kids under 6 years dine complimentary
Location: Crowne Plaza Dubai Festival City
Iftar at Sirocco– The ultimate destination for families
Sirocco at Holiday Inn & Suites Dubai Festival City, known for its Iftar especially for families, will
help guests feel the true spirit of Ramadan with their lavish Iftar buffet. Adults and kids can embrace
an abundance of delicacies with a selection of international dishes and authentic Arabian flavours
featuring Levantine favourites.
Time: Iftar is offered from 6.30pm to 8.30pm
Price: AED 169 per person, AED 75 for kids aged 6-12 years and kids under 6 years dine
complimentary
Location: Holiday Inn & Suites Dubai Festival City
Suhoor at Zaytoun – A vibrant start to the morning
A master of regional cuisine, Zaytoun will offer guests an incredible ambience with uninterrupted
views of Dubai Creek and the Burj Khalifa. Guests can choose their favourite picks, which is certain
to take them on a culinary voyage through some of the region’s most cherished creations. A wide
selection of delicious cold and warm Mezzeh with homemade bread, delicacies from the grill such
as lamb skewers and mixed seafood platters can be ordered à la carte. Guests will be amazed by
the authentic Ramadan dessert station with homemade Baklawa, Kunafa, Umm Ali and much more.
To make the experience special, there is a traditional Oud player stationed in-house.
Time: Suhoor is offered from 9.00pm to 2.00am
Price: À la carte
Location: Crowne Plaza Dubai Festival City
Staycation at InterContinental Dubai Festival City
Delve into the spirit of relaxation and comfort at InterContinental Dubai Festival City. Book one night
and enjoy scenic views, stylish rooms and palm tree fringed pools, including a gravity-defying
transparent pool suspended mid-air over the fourth floor. Guests can also enjoy breakfast at Anise
or Suhoor at Zaytoun, in addition to a lavish Iftar spread at Anise. There’s also a packed
entertainment schedule at Planet Trekkers kids club for little ones.
Price Per night: AED 850, excluding taxes and fees
Staycation at Crowne Plaza Dubai Festival City
To make your Ramadan a memorable one, consider a stay at the family-friendly Crowne Plaza
Dubai Festival City. With astonishing views of Dubai Creek and Burj Khalifa, and an array of
activities for kids, the hotel is offering special room rates this year. Book for one night and avail a
breakfast or a suhoor at Zaytoun. The lavish Iftar on Zaytoun’s alluring terrace will transport you to a
land of mesmerising culinary flavours!
Price per night: AED 600 per room per night, excluding taxes and fees
Staycation at Holiday Inn & Suites Dubai Festival City
Check in to Holiday Inn & Suites at Dubai Festival City for an all-inclusive stay. For a booking of one
night, guests get special Ramadan room rates that come with complimentary breakfast/ Suhoor at
Sirocco. When the sun sets, get ready to enjoy a delicious Iftar buffet from Sirocco’s appetizing
menu.
Price per night: AED 450 per room per night, excluding taxes and fees
Corporate Iftar and Suhoor at InterContinental Dubai Festival City – Grand and elegant
settings
InterContinental Dubai Festival City presents a distinctive opportunity for corporate Iftar and Suhoor
gatherings in the elegant Al Ras and Al Baraha ballrooms, which offer a lavish spread of Arabic and
International cuisine matching the occasion.
The Al Ras Ballroom, occupying a vast space of 1,373 sq. m, can accommodate 800 guests with
round table setup and features the option of three flexible dividers. The first-floor pre-function area
of this splendid ballroom provides an escape from the bustling city, boasting floor-to-ceiling windows
that overlook Dubai Creek.
The Al Baraha ballroom, covering an area of 1,102 sq. m, is an awe-inspiring venue that can host
up to 600 guests. The ballroom’s pre-function area features floor-to-ceiling windows, which offer
stunning views of the waterfront promenade.
The in-house premier planning team, acclaimed partners, and signature concierge service will
provide personalized attention to ensure no detail is overlooked. Corporate Iftar menus range from
AED 150 to AED 250 per person for parties of 80 guests and above.
Holiday Inn & Suites Dubai Festival City’s Al Badia ballroom offers a contemporary space and a
variety of Iftar and Suhoor menus, featuring Arabic and International delicacies perfect for a
corporate gathering during the holy month, starting from only AED 120 per person for parties of 100
guests and above.
For reservations, call +971 (0)4 701 11 27/28 or e-mail reservation.dfc@ihg.com. For more
information, visit www.dubaifestivalcityhotels.com/ramadan