For the last few years the Qatar Masters has been a big event this time of year, but for 2016 it has been replaced with the FIDE World rapid and Blitz Championship. 120 players in the Open and 36 in the Womens event are playing a 3 day 15 round Rapid, and a 2 day 21 round Blitz. Magnus Carlsen is the top seed, but plenty of the worlds top players are also taking part.
After the first day Anton Korabov is the only player on 5/5. Lev Aronian is on 4.5, with a number of players on 4. Carlsen had a very shaky start, drawing with SS Ganguly (with Ganguly missing a forced mate), and losing to Pantsulaia in the 2nd round. 3 straight wins kept him in touch with the leaders, but he now has some work too do.
The official website is here, while you can follow the games at Chess24