An extra day or two off work was the perfect tonic for the hordes of tourists and residents alike who enjoyed the many events and attractions on offer during EidAl Adha this weekend.
A drop in temperatures on Saturday made for a double dose of fortune for those lucky enough to enjoy two days off, either side of the weekend.
On Friday, a reception at Al Mushrif Palace in Abu Dhabi was hosted by Vice President, Prime Minister and Ruler of Dubai, Sheikh Mohammed bin Rashid, and Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
The event marking Eid was attended by Crown Princes and Deputy Rulers from around the UAE.
“The first day of Eid is about traditions and getting together as a family”, said Shoroq Al Kabbi, an Emirati mother of three living in Fujairah.
“Family members from Abu Dhabi and Sharjah came to celebrate Eid with us at our father’s house in Merbeh, we exchanged Eid wishes, shared a meal together and children collected their Eideah ‘Money given to children during Eid’,” said Ms Al Kabbi, 32.
Ms Al Kabbi and her family decided to have lunch at Fujairah city centre before heading to Jumeriah Beach Residence in Dubai on Saturday.
“We brought them here to play and eat before we start our long trip to Dubai to watch the fireworks at the beach," she said.
“We went last year and the kids loved it so they asked to go again this year.”
“We’ll spend the night there and take the kids to Modhesh World on Sunday."
Another family said that they were planning to go to the beach in the evening on the first day of Eid, but humidity levels were a bit higher than they expected in Kalba.
“I went to the abattoir after Eid prayers and brought meat, we distributed some of it and kept the rest to make barbecue on the beach in the evening, but the humid weather made us change our plans,” said Mostafa Youssri, an Egyptian father of two living in Kalba.
“Instead, we took the children to the amusement park in Fujairah but we are thinking of going to Kalba beach today, as the weather seems better and less humid,” said Mr Youssri, 36.
Pakistani Bilal Mohammad, 24, who works for Emirates flight catering has been in the UAE for three years, but was making his first visit to the Abu Dhabi Grand Mosque on his extra day off.
“A three-day weekend is nice – so I’m making the most of it with a day out with my friends,” he said.
“There are a lot of people with the same idea of visiting the Grand Mosque, but it is still not too busy. It’s just nice to spend some time with others.
“We’re going for walk at the Corniche as it’s not too hot, and will then get some food.”
Lydia Sauer, was visiting the UAE from Germany for a week.
“We have been staying in Jumeirah Beach Residence so we’ve had a great location from where to watch the fireworks each night,” she said.
“It is my first visit to the UAE, and it has been a wonderful atmosphere with the street entertainers and market stalls on JBR.
“I thought there would be more crowds as it is Eid, but I guess a lot of people are away on vacation and making the most of the holidays.”
Bijod Chittiappily, 30, who lives in International City in Dubai, was enjoying a day out on the Corniche in Abu Dhabi.
“We all work hard, so an extra day off has been a bit of luck for us,” he said.
“We are making the most of it, as we don’t often get the chance to come to Abu Dhabi, it is a different pace to Dubai so it is making a nice change.”
Another tourist Marie Luca, from a village near Munich in Germany, was impressed with the choice on offer for sightseeing.
“I am only here for a few days, so it is difficult to fit everything in,” she said.
“I wanted to come to Abu Dhabi to see the Grand Mosque, it is an amazing building and feels particularly special during Eid.”
Whilst special prayers were offered in Abu Dhabi to the nation’s fallen servicemen and women, support was offered to those in need further afield.
Emirates Red Crescent continued its charitable work, distributing Eid sacrifices to families of martyrs, injured across the Hadhramaut governorate of Yemen.
Efforts were part of the 'Zayed Legacy to Support Yemeni People' campaign on the occasion of Eid al Adha.
The campaign is providing Eid sacrifices and clothing, as well as gifts and cash, until the third day of Eid in the various Yemeni governates.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Tales of Yusuf Tadros
Adel Esmat (translated by Mandy McClure)
Hoopoe
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
SPECS
Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now
8 traditional Jamaican dishes to try at Kingston 21
- Trench Town Rock: Jamaican-style curry goat served in a pastry basket with a carrot and potato garnish
- Rock Steady Jerk Chicken: chicken marinated for 24 hours and slow-cooked on the grill
- Mento Oxtail: flavoured oxtail stewed for five hours with herbs
- Ackee and salt fish: the national dish of Jamaica makes for a hearty breakfast
- Jamaican porridge: another breakfast favourite, can be made with peanut, cornmeal, banana and plantain
- Jamaican beef patty: a pastry with ground beef filling
- Hellshire Pon di Beach: Fresh fish with pickles
- Out of Many: traditional sweet potato pudding
How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
Company%20Profile
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