DUBAI: Dubai’s state airport operator expects a “surge” in passenger traffic over the coming weeks and months, its chief executive said on Wednesday, after the United Arab Emirates announced an easing of travel restrictions from African and Asian countries.
The Gulf state, a major international travel hub, on Tuesday said it would scrap on Aug. 5 a transit flight ban which Emirates airline later said applied to passengers traveling from 12 countries, including major market India.
The UAE will also lift this week an entry ban on those who had visited India, Pakistan, Sri Lanka, Nepal, Nigeria or Uganda over the past 14 days for those with valid residencies and who are certified by Emirati authorities as fully vaccinated.
Dubai Airports Chief Executive Paul Griffiths said Dubai International was “ready to accommodate the anticipated surge in the coming weeks and months” once restrictions ease.
The Indian subcontinent is traditionally the largest source market for Dubai International, which is one of the world’s busiest airports and the hub for state airline Emirates.
Griffiths said the easing of entry restrictions on inbound travelers from South Asia as well as Nigeria and Uganda would allow for thousands of UAE residents to return.
“It’s a great development from both a social and economic standpoint,” he said.
Those traveling to the UAE or transiting through its airports need to meet various conditions including presenting a negative polymerase chain reaction (PCR) coronavirus test prior to departure.
Dubai International Airport is targeting 8 percent growth in passenger traffic this year to 28 million. It handled 86.4 million in 2019, the year before the pandemic struck.
Dubai airport expects passenger surge as UAE eases travel curbs
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Dubai airport expects passenger surge as UAE eases travel curbs
- UAE said it would scrap on Aug. 5 a transit flight ban
Silver crosses $77 mark while gold, platinum stretch record highs
- Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
- Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years
Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.
Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation as a US critical mineral, and strong investment inflows.
Spot gold was up 1.2% at $4,531.41 per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.
“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Markets are anticipating two rate cuts in 2026, with the first likely around mid-year amid speculation that US President Donald Trump could name a dovish Fed chair, reinforcing expectations for a more accommodative monetary stance.
The US dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.
On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.
“$80 in silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next year,” Grant added.
Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.
On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.
Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.
All precious metals logged weekly gains, with platinum recording its strongest weekly rise on record.
