Gold prices declined on Friday as China mulls suspending tariffs on certain US imports, denting the metal’s safe-haven appeal.

Spot gold fell 0.8 per cent to $3,322.36 an ounce as of 0421 GMT. US gold futures shed 0.5 per cent to $3,332.90.

Read-How Dubai’s Gold Souk is reacting to bullion’s record high

“The partial rollback of tariffs on some imports from China may be perceived as a positive step towards further de-escalation in US-China trade tensions, which exert modest downward pressure on safe-haven assets like gold,” said IG market strategist Yeap Jun Rong.

China may exempt some US imports from its 125 per cent tariffs and is asking businesses to identify goods that could be eligible in the biggest sign yet that Beijing is anxious about the trade war’s economic fallout.

Meanwhile, US President Donald Trump asserted that trade talks with China are underway, pushing back against Chinese claims that no discussions have taken place to ease the ongoing trade war.

A spokesperson for China’s commerce ministry said that if the US “truly” wants to resolve the dispute, it should lift all unilateral tariff measures against China.

Non-yielding bullion, often viewed as a safeguard against global instability and which thrives in low interest rate environments, has surged over $700 this year, scaling multiple record peaks. It reached $3,500.05 on Tuesday.

“Over the longer term, structural tailwind remains intact, with further room for reserve diversification among emerging markets as they gradually align with the reserve composition of advanced economies,” Rong said.

Fed officials indicated they saw no urgency in revising the monetary policy as they sought more information to determine how the Trump administration’s tariffs were affecting the economy.

On the geopolitical front, Trump rebuked Russian President Vladimir Putin after a Russian missile and drone attack on Ukraine’s capital Kyiv, the biggest this year, resulted in at least 12 deaths.

Dubai’s tourism sector recorded a 3 per cent year-on-year growth in Q1 2025, continuing its post-pandemic momentum, according to Issam Kazim, CEO of the Dubai Corporation for Tourism and Commerce Marketing (DCTCM), part of the Dubai Department of Economy and Tourism (DET).

“Whereas we have already come back in 2023 with record numbers, and it was a great year for us, 2024 saw a 9 per cent growth in terms of visitation. We had about 18.72 million (overnight visitors) that came into Dubai. And so far, the first quarter of this year is 3 per cent ahead, which means we keep raising the benchmark,” Kazim said at a press conference held ahead of the Arabian Travel Market (ATM) 2025.

The briefing, organised by RX Global alongside strategic partners Emirates, IHG Hotels & Resorts, Al Rais Travel and DET, outlined plans for the 32nd edition of the event, which will take place from April 28 to May 1 at the Dubai World Trade Centre.

ATM 2025 to host 2,800 companies in Dubai

This year’s ATM will be attended by over 125 stakeholders from the Dubai Department of Economy and Tourism, and will welcome more than 300 hosted buyers from 39 countries through its Hosted Buyers Programme.

“Together, we look forward to engaging with global leaders and industry experts, exchanging insights, exploring transformative trends, and forming new partnerships that will shape the future of travel and tourism,” Kazim said.

ATM 2025 will host over 2,800 exhibiting companies, with 17 per cent from the Middle East and 83 per cent from international markets.

The event is expected to attract 55,000 attendees from 161 countries, marking a nearly 12 per cent increase in exhibitor participation year-on-year. It will span 14 halls, making it the largest edition in its history.

Themed “Global Travel: Developing Tomorrow’s Tourism Through Enhanced Connectivity”, the show will explore how physical, digital, and human connections are shaping the future of tourism.

The theme will be reflected across the ATM Conference, ATM Travel Tech, networking events and exhibitor showcases.

Danielle Curtis, exhibition director ME for ATM, said connectivity has become a defining factor for the travel industry’s evolution. “Tourism evolves as the world connects. Now, more than ever, collaboration among key stakeholders, including governments, airlines, travel agencies, hospitality leaders, and local communities, has become essential,” she said.

Curtis noted a strong increase in regional participation, with Asia leading growth at 20 per cent year-on-year, followed by the Middle East at 15 per cent , Europe at 12per cent, and steady gains across Africa and the Americas.

Archer Aviation has secured design approval from the UAE’s General Civil Aviation Authority (GCAA) to convert the Abu Dhabi Cruise Terminal helipad into the country’s first hybrid heliport, accelerating the move toward launching commercial electric air taxi operations in the capital.

The project, developed in collaboration with infrastructure partner Falcon Aviation Services and in close coordination with the GCAA, will transform the existing helipad into a dual-use facility capable of handling both traditional helicopters and electric vertical takeoff and landing (eVTOL) aircraft.

The heliport is expected to be operational in H2 2025, forming part of Archer’s broader UAE infrastructure rollout in partnership with leading operator Abu Dhabi Aviation (ADA).

“This milestone is not just about infrastructure — it reflects the UAE’s unwavering commitment to innovation and global leadership in Advanced Air Mobility,” said Saif Mohammed Al Suwaidi, director general of the GCAA. “This approval represents a new era for civil aviation, driven by partnership and vision.”

Setting new benchmarks for hybrid heliports

The GCAA has become the first aviation authority worldwide to draft regulatory standards for hybrid heliports, a framework that will allow the safe, efficient integration of helicopters and eVTOL aircraft.

The final standards are expected to be published by July 2025 following an industry consultation process.

“This framework ensures that our air mobility infrastructure is safe, efficient, and adaptable—laying the foundation for a unified operational environment,” added Aqeel Al Zarouni, assistant director general of the GCAA’s Aviation Safety Affairs Sector.

Located at a cruise terminal that receives over 650,000 visitors annually, the site offers strategic access to key cultural and tourism destinations such as the Louvre Abu Dhabi, Zayed Port, Saadiyat Island, and the Corniche.

“Leveraging existing aviation assets is a cornerstone of our launch strategy. It allows us to move both quickly and safely — getting critical infrastructure ready ahead of our planned commercial launch,” said Archer Aviation CEO and co-founder Adam Goldstein. “This achievement has only been possible through strong partnerships with the GCAA, ADIO, and our local operating partners.”

Captain Ramandeep Oberoi, CEO of Falcon Aviation Services, noted the significance of repurposing an established heliport: “Its transformation into a hybrid heliport marks an exciting new chapter. We are proud to support the UAE’s vision by introducing future-ready infrastructure.”

The apron and airspace design work for the project was supported by Air Synapsis, a Dubai-based heliport and vertiport design and consultancy firm.

The Ministry of Interior in Saudi Arabia announced on April 23 a fine of up to SR50,000 and six months of imprisonment for any sponsors who fail to report the departure of expatriate workers under their sponsorship after the expiry of their entry visas.

According to a report in the Saudi Gazette, the sponsor (a foreigner) will be deported from the country after serving the jail term and paying the fine.

Read-Travelling for Hajj? Here’s what you need to know

The ministry also announced a similar penalty on Tuesday, April 22, for overstaying expatriates. Those who fail to leave Saudi Arabia after their entry visas expire may face a fine of up to SR50,000, imprisonment for up to six months, and deportation.

Previously, the ministry had announced a maximum fine of SR100,000 for Hajj and Umrah service providers and establishments that fail to report any pilgrim who overstays their visa.

Makkah Permit Rule for Expats

In another announcement, the Directorate of Public Security in Saudi Arabia stated that expatriates without an official permit are banned from entering Makkah. This rule came into effect on Wednesday, April 23.

Residents who hold a work permit or a residency permit (iqama) issued in Makkah, or a Hajj permit, are exempt from the ban. Expatriates without the required permits will be turned back at security checkpoints at Makkah’s entry points.

Purpose of the Regulation

The ban aims to regulate access to Makkah during the Hajj season and ensure the smooth movement and security of pilgrims.

Permits for entering Makkah during the Hajj season are issued electronically through the ‘Absher Individuals’ platform and the ‘Muqeem’ portal, in coordination with the unified digital platform for Hajj permits, ‘Tasreeh’.

The Ministry of Interior also reiterated its warning that it is prohibited to enter or remain in Makkah for holders of all visa types—except those arriving with a Hajj visa—starting April 29.

Dubai Holding Asset Management has announced the official opening of Nad Al Sheba Mall, a 500,000 square feet mixed-use lifestyle destination in the heart of the Nad Al Sheba community, further expanding its extensive retail portfolio in the emirate.

The mall features more than 100 outlets across categories including fitness, retail, food and beverage, entertainment, healthcare, and supermarkets.

Nad Al Sheba Mall tenants

Early tenants include high-profile names such as Home Bakery, Joud Coffee, PDL Café, Parka, Homer Lobster, % Arabica, Fun City, Spinneys, GO Sport, and SALT.

Fitness-focused brands FitnGlam and Fitcode, along with Union Coop, are scheduled to open in May 2025, with additional brands set to launch in the coming months.

Dubai Holding Asset Management expands retail offering

Dubai Holding Asset Management, which operates 10 malls, 15 lifestyle destinations, and 18 retail centres across the city, said the new mall underscores its strategy of delivering community-centric destinations that promote convenience and an enhanced quality of life.

Nad Al Sheba Mall joins a portfolio that includes Nakheel Mall, Ibn Battuta Mall, Dragon Mart, and The Outlet Village, as well as major destinations such as Bluewaters, JBR, and West Beach.

The mall is open daily from 10am to 10pm on weekdays and until midnight on weekends.

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