Dubai Airport Is Busiest for Global Travel as Virus Persists

Passengers wait before boarding at Dubai International Airport, as Emirates airline resumed limited outbound passenger flights amid outbreak of the coronavirus disease (COVID-19) in Dubai, UAE April 27, 2020. REUTERS/Ahmed Jadallah
Passengers wait before boarding at Dubai International Airport, as Emirates airline resumed limited outbound passenger flights amid outbreak of the coronavirus disease (COVID-19) in Dubai, UAE April 27, 2020. REUTERS/Ahmed Jadallah
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Dubai Airport Is Busiest for Global Travel as Virus Persists

Passengers wait before boarding at Dubai International Airport, as Emirates airline resumed limited outbound passenger flights amid outbreak of the coronavirus disease (COVID-19) in Dubai, UAE April 27, 2020. REUTERS/Ahmed Jadallah
Passengers wait before boarding at Dubai International Airport, as Emirates airline resumed limited outbound passenger flights amid outbreak of the coronavirus disease (COVID-19) in Dubai, UAE April 27, 2020. REUTERS/Ahmed Jadallah

Dubai's main airport said Tuesday it has retained its top place as the world's busiest for international travel with around 29 million passengers shuttling through the global gateway last year.

The 2021 passenger figures are encouraging for the tourism-driven economy of Dubai, regarded as a critical link between East and West.

The numbers are sign that international travel has picked up somewhat since the coronavirus pandemic spawned unprecedented global lockdowns and border closures in 2020. Last year's figure represents a 12% increase in traffic at Dubai International Airport compared to 2020, which had recorded nearly 26 million travelers.

Still, even with 29.1 million passengers crisscrossing last year through Dubai International Airport, or DXB, the figure is nowhere near the pre-pandemic milestone of 86.4 million in annual traffic logged by the airport in 2019, The Associated Press reported.

Just over 70% of Dubai's airport traveler figures last year represent arrivals, with much of that likely residents traveling to and from the emirate. Prior to the pandemic, around half of all passenger figures were transiting through Dubai.

CEO of Dubai Airports, Paul Griffiths, said DXB forecasts 57 million travelers to come through the airport this year, and a full recovery to pre-pandemic figures by 2024.

“Dubai has done such a good job in reassuring travelers. It’s a safe city to visit and to come and holiday and do business. So I think the the actual trends to recovery are very encouraging, indeed,” Griffiths said.

It marks the eighth consecutive year that Dubai International Airport clinches the mantle of the world's busiest for international travel, surpassing London's Heathrow and Atlanta's Hartsfield-Jackson for global travelers, although the latter is among the busiest in terms of overall passenger traffic.

The largest share of traffic to Dubai came from India, with 4.2 million travelers, followed by Pakistan, with 1.8 million travelers last year.

The UAE is home to more than 100,000 British citizens. Dubai's main airport logged 1.2 million passengers from the UK last year, including 77,000 in December alone.

“What we’re now trying to do is campaign globally for the relaxation of travel restrictions and testing,” Griffiths said.

“But we now see the requirement for that is receding. We just need to get governments to recognize that fact and act quickly to remove the remaining travel restrictions.”

Overall, coronavirus infection figures remain relatively low across the UAE. The country has been aggressive in inoculating its population of more than 9 million people against COVID-19, most of whom are foreign residents and all of whom have been able to receive the vaccine free of charge.

While masks in public spaces are still required in Dubai, life in the city-state can otherwise feel unhindered by the pandemic.

“I do expect across the world, the testing regime for travel will start to disappear pretty quickly and we’re hopeful that there will be an announcement over the next few weeks from many different places,” Reuters quoted Griffiths as saying.

“The whole idea of having to have tests for travel will give way to vaccination certificates.”



Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
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Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth

Gold rebounded on Friday and was set for a weekly gain, helped by bargain hunting, a slightly weaker dollar and lingering concerns over US-Iran talks in Oman, while silver recovered from a 1-1/2-month low.

Spot gold rose 3.1% to $4,916.98 per ounce by 09:31 a.m. ET (1431 GMT), recouping losses posted during a volatile Asia session that followed a fall of 3.9% on Thursday. Bullion was headed for a weekly gain of about 1.3%.

US gold futures for April delivery gained 1% to $4,939.70 per ounce.

The US dollar index fell 0.3%, making greenback-priced bullion cheaper for the overseas buyers.

"The gold market is seeing perceived bargain hunting from bullish traders," said Jim Wyckoff, senior analyst at Kitco Metals.

Iran and the US started high-stakes negotiations via Omani mediation on Friday to try to overcome sharp differences over Tehran's nuclear program.

Wyckoff said gold's rebound lacks momentum and the metal is unlikely to break records without a major geopolitical trigger.

Gold, a traditional safe haven, does well in times of geopolitical and economic uncertainty.

Spot silver rose 5.3% to $74.98 an ounce after dipping below $65 earlier, but was still headed for its biggest weekly drop since 2011, down over 10.6%, following steep losses last week as well.

"What we're seeing in silver is huge speculation on the long side," said Wyckoff, adding that after years in a boom cycle, gold and silver now appear to be entering a typical commodity bust phase.

CME Group raised margin requirements for gold and silver futures for a third time in two weeks on Thursday to curb risks from heightened market volatility.

Spot platinum added 3.2% to $2,052 per ounce, while palladium gained 4.9% to $1,695.18. Both were down for the week.


Europe, Türkiye Agree to Work Toward Updating Customs Union

European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal
European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal
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Europe, Türkiye Agree to Work Toward Updating Customs Union

European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal
European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal

The European enlargement chief and the Turkish foreign minister said on Friday they had agreed to continue work toward modernizing the EU-Türkiye customs union and to improve its implementation, Reuters reported.

European Commissioner for Enlargement Marta Kos met Turkish Foreign Minister Hakan Fidan in the capital Ankara on Friday.

"They shared a willingness to work for paving the way for the modernization of the Customs Union and to achieve its full potential in order to support competitiveness, and economic security and resilience for both sides," they said in a joint statement afterward.

The sides also welcomed the gradual resumption of European Investment Bank (EIB) operations in Türkiye and said they intended to support projects across the country and neighbouring regions in cooperation with the bank.


Bitcoin Falls 8% and Asian Shares Mostly Slip after Wall Street is Hit by Tech Stock Losses

FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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Bitcoin Falls 8% and Asian Shares Mostly Slip after Wall Street is Hit by Tech Stock Losses

FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

US futures and Asian shares traded mostly lower on Friday, tracking Wall Street’s losses as technology stocks again dragged on markets.

Bitcoin sank to roughly half its record price, giving back all it gained since US President Donald Trump won the White House for his second term.

Tokyo’s Nikkei 225 was up 0.8% to 54,253.68, recovering from losses earlier this week, with technology-related stocks leading gains. SoftBank Group rose 2.2% and chipmaker Tokyo Electron rose 2.6%. Japan will also be holding its general election on Sunday, in which Prime Minister Sanae Takaichi expects to win a stronger public mandate for her policies.

Shares of Toyota Motor were up 2%. The carmaker said Friday its CEO Koji Sato will be stepping down in April, and is to be replaced by Chief Financial Officer Kenta Kon, The Associated Press said.

South Korea’s Kospi lost 1.4% to 5,089.14, weighed down by tech shares. Samsung Electronics, the country’s biggest listed company, fell 0.4%. Chipmaker SK Hynix was also down 0.4%.

Hong Kong’s Hang Seng fell 1.4% to 26,519.60. The Shanghai Composite index was down 0.3% to 4,065.58.

In Australia, the S&P/ASX 200 shed 2% to 8,708.80.

Taiwan’s Taiex was mostly flat. India's Sensex traded 0.1% lower.

Against the backdrop of the technology sell-off this week, bitcoin, the world’s largest cryptocurrency, saw dimming enthusiasm and was trading about 8% lower at just under $65,000 early Friday, after it briefly sank over 12% to below $64,000 on Thursday. That’s down from a record of above $124,000 in October.

The future for the S&P 500 was 0.2% lower, while that for the Dow Jones Industrial Average fell 0.1%.

On Thursday, the S&P 500 fell 1.2% to 6,798.40, its sixth loss in the seven days. The Dow Jones Industrial Average fell 1.2% to 48,908.72. The Nasdaq composite dropped 1.6% to 22,540.59.

Technology stocks were among the worst hit as concerns persist over whether massive AI investments by many of the Big Tech firms will pay off.

Chipmaker Qualcomm sank 8.5% despite better-than-expected quarterly revenues. Alphabet lost 0.5% as investors were focused on its huge spendings on AI.

Amazon fell 11% in after hours trading Thursday after it announced plans to boost capital spending by more than 50% to $200 billion in AI and other areas.

American artificial intelligence startup Anthropic ’s new AI tools also fueled the sell-off of software stocks on Wall Street this week, as its sophistication means many traditional software development services and products could be disrupted or replaced.

Gold and silver prices have been volatile this week following a monthslong rally as investors moved into safe haven assets prompted by factors including elevated geopolitical tensions. Gold prices fell 0.6% on Friday to $4,858.60 per ounce, after nearing $5,600 last week.

Silver prices dropped 5.5% to $72.52 per ounce after rising earlier this week. It lost more than 31% last Friday.

In other dealings early Friday, US benchmark crude oil gained 35 cents to $63.64 a barrel. Brent crude, the international standard, rose 36 cents to $67.91 a barrel.

The US dollar fell to 156.74 Japanese yen from 157.03 yen. The euro was trading at $1.1789, up from $1.1777.