Good grief. Forgive me for a stupid question, but isn't EID their new year celebration? Reminds me a little of the Running With The Bulls. Idiots.
Eid is a celebration of the sparing of Ismail (Jacob) from sacrifice. So they slaughter a bunch of animals:
Eid ul-Adha - Wikipedia, the free encyclopedia
http://en.wikipedia.org/wiki/Eid_ul-Adha
There is another Eid, the Eid ul-Fitr, which marks the end of Ramadan:
Eid ul-Fitr - Wikipedia, the free encyclopedia
http://en.wikipedia.org/wiki/Eid_ul-Fitr