• Emirati artist Mohamed Ahmed Ibrahim’s installation of 128 sculptures, Between Sunrise and Sunset, at the Venice Biennale's National Pavilion UAE, drew a record number of visitors. All photos: Ismail Noor / National Pavilion UAE
    Emirati artist Mohamed Ahmed Ibrahim’s installation of 128 sculptures, Between Sunrise and Sunset, at the Venice Biennale's National Pavilion UAE, drew a record number of visitors. All photos: Ismail Noor / National Pavilion UAE
  • Arranged in a thick column in the cavernous Arsenale room, the tree-like sculptures were inspired by Ibrahim's hometown of Khorfakkan
    Arranged in a thick column in the cavernous Arsenale room, the tree-like sculptures were inspired by Ibrahim's hometown of Khorfakkan
  • The exhibition featured clusters of tree-like forms, which tranisitioned from bright colours at one end of the room to monochromatic sculptures on the other
    The exhibition featured clusters of tree-like forms, which tranisitioned from bright colours at one end of the room to monochromatic sculptures on the other
  • Made of papier-mache, the objects seemed painted but actually gained their colour from the paper used to create them
    Made of papier-mache, the objects seemed painted but actually gained their colour from the paper used to create them
  • Ibrahim mixed coloured sheaves of paper as a painter mixes paint, and also incorporated everyday, organic material from around him — leaves from trees in his garden in Khorfakkan, tobacco, tea, coffee, and even the cardboard packaging from toys which his grandchildren would save for him
    Ibrahim mixed coloured sheaves of paper as a painter mixes paint, and also incorporated everyday, organic material from around him — leaves from trees in his garden in Khorfakkan, tobacco, tea, coffee, and even the cardboard packaging from toys which his grandchildren would save for him
  • Curated by Maya Allison, executive director and chief curator of NYU Abu Dhabi Art Gallery, the exhibition presented a major new work by a pioneering Emirati artist
    Curated by Maya Allison, executive director and chief curator of NYU Abu Dhabi Art Gallery, the exhibition presented a major new work by a pioneering Emirati artist
  • Bright colours changed into a more desolate landscape of blacks and whites, mirroring the movement of the sun setting over the mountains of Khorfakkan
    Bright colours changed into a more desolate landscape of blacks and whites, mirroring the movement of the sun setting over the mountains of Khorfakkan
  • The work, and the performative walk around it, affected the transition from day to night, as seen by the eye
    The work, and the performative walk around it, affected the transition from day to night, as seen by the eye
  • In some ways, the sculptures resembled trees and animals, but the artist said they represented neither
    In some ways, the sculptures resembled trees and animals, but the artist said they represented neither
  • Mohamed Ahmed Ibrahim: Between Sunrise and Sunset was the UAE's take on the biennale's theme – The Milk of Dreams – exploring the representation of bodies and their metamorphoses, and the connection between bodies and Earth
    Mohamed Ahmed Ibrahim: Between Sunrise and Sunset was the UAE's take on the biennale's theme – The Milk of Dreams – exploring the representation of bodies and their metamorphoses, and the connection between bodies and Earth

National Pavilion UAE director reflects on record-breaking showing at Venice Art Biennale


Hareth Al Bustani
  • English
  • Arabic

With more than 800,000 tickets sold, Venice's most recent Biennale Arte shattered its previous records, with attendance up by 35 per cent compared with pre-pandemic levels. The National Pavilion UAE, which included an exhibition by Emirati artist Mohamed Ahmed Ibrahim, Between Sunrise and Sunset, drew in more than a third of these guests — setting its own record of 277,203 visitors.

Reflecting the biennale's theme, The Milk of Dreams — questioning the representation of bodies and their metamorphoses, and the connection between bodies and earth — Ibrahim's exhibition included 128 sculptures, exploring the way sunlight traverses over the mountains of his home, Khorfakkan. Together, they form a single work, with biomorphic sculptures clustering together in undulating colour and movement.

Laila Binbrek, director of National Pavilion UAE — La Biennale di Venezia, says the narrative and presentation of Ibrahim's exhibition resonated emotionally with visitors from around the world at the art exhibition.

"Mohamed Ahmed Ibrahim has been a practising artist over the last four decades, and is a key member of a group of experimental, conceptual artists who have led the vanguard of the visual art scene in the UAE since the 1980s. He is an artist who has a deep and intimate relationship with his home town of Khorfakkan and this relationship is clearly expressed in all his work," Binbrek tells The National.

Laila Binbrek, director of National Pavilion UAE — La Biennale di Venezia, says the narrative and presentation of Emirati artist Mohamed Ahmed Ibrahim's exhibition resonated emotionally with visitors. Pawan Singh / The National
Laila Binbrek, director of National Pavilion UAE — La Biennale di Venezia, says the narrative and presentation of Emirati artist Mohamed Ahmed Ibrahim's exhibition resonated emotionally with visitors. Pawan Singh / The National

"The exhibition presented at the pavilion is a direct homage to Mohamed’s home town and his ongoing dialogue with the mountains and the light that reflects on it; this relationship was easily relatable to anyone who visited our pavilion."

Binbrek says it is always rewarding to see another story from the UAE being presented on the global platform of La Biennale di Venezia, as the country's creatives stand alongside their international peers. Commissioned by the Salama bint Hamdan Al Nahyan Foundation and supported by the Ministry of Culture & Youth, the UAE's National Pavilion has a permanent space at the Venice Biennale’s Arsenale — Sale d’Armi.

"Our consistent presence at La Biennale means each year we have an opportunity to build on those untold stories, and this year was no exception. It was interesting to see audiences, who had seen previous UAE pavilions, discover and absorb Mohamed’s work, and in some cases be able to put it in context to the overall story we have been building on over the years."

Binbrek says the success of this year's biennale was a clear indicator of the public's appetite to return and come together again. "The international art exhibition saw 58 national participations, including five from the region, including the Sultanate of Oman in their inaugural participation, Saudi Arabia, Egypt, Lebanon, and Syria."

Although the biennale closed last month, National Pavilion UAE is still offering virtual tours of the exhibition online at nationalpavilionuae.org. The pavilion has also released an accompanying publication, Mohamed Ahmed Ibrahim: Between Sunrise and Sunset / Works 1986-2022, which pieces together years of in-depth research and personal interactions with the artist.

One of the book's editors is the exhibition's curator Maya Allison, executive director and chief curator of the New York University Abu Dhabi Art Gallery. Allison says that the artist's work played a formative role in developing the UAE's "thriving creative scene". "What he has brought to Venice for the UAE Pavilion shows his complete commitment to exploration, curiosity and our interconnectedness through art — the very characteristics that I love about the UAE's art scene," she says.

Maya Allison, executive director and chief curator of the NYU Abu Dhabi Art Gallery, with Emirati artist Mohamed Ahmed Ibrahim. Photo: Augustine Paredes / National Pavilion UAE La Biennale Di Venezia
Maya Allison, executive director and chief curator of the NYU Abu Dhabi Art Gallery, with Emirati artist Mohamed Ahmed Ibrahim. Photo: Augustine Paredes / National Pavilion UAE La Biennale Di Venezia

Ibrahim, meanwhile, says it was a great honour to represent his country at "one of the most international and prestigious platforms for the arts".

"It was a huge responsibility to have my work act as a conduit through which the world could see the diversity and dynamism of the Emirati arts scene.

"I chose to highlight my authenticity in my artwork to encourage the next generation of artists in the UAE to embrace their originality and never lose their individuality as they go on to become the future of arts in the Emirates."

Cecilia Alemani, who curated the wider biennale, says it was a challenge organising the event during the pandemic. "I have conceived this exhibition remotely, with hundreds of studio visits done on Zoom with artists from all over the world. Very few artists were able to come and do site visits," Alemani says.

"Nobody knew if the artworks would get to Venice on time. Even if now things seem to have returned to a sort of normalcy, we all know it was an extraordinary period and that it took more than two years to get to this point. The fact that this exhibition could open on time back in April is still somewhat miraculous."

Mohamed Ahmed Ibrahim's works draw from the landscape of Khorfakkan. Photo: John Varghese / National Pavilion UAE La Biennale di Venezia
Mohamed Ahmed Ibrahim's works draw from the landscape of Khorfakkan. Photo: John Varghese / National Pavilion UAE La Biennale di Venezia

Alemani says the 800,000 visitors "demonstrate that art has the power to foster participation, and that after so many months of isolation, people want to celebrate and see art in person, in a joyful and communal experience shared with many friends, families, colleagues and art lovers".

"In times like this, as the history of La Biennale di Venezia clearly shows, art and artists can help us imagine new modes of coexistence and infinite new possibilities of transformation.”

Now that Biennale Arte is over, Binbrek says the UAE Pavilion is excited about the coming architectural biennale.

"We look forward to next year’s exhibition at Biennale Architettura 2023, which will be curated by Faysal Tabbarah, associate dean and associate professor of architecture at the American University of Sharjah. Tabbarah and his team aim to explore the relationship between architecture and arid landscapes in the UAE and reimagine them as spaces of abundance and productivity.”

Scroll through images of this year's Biennale Arte below

  • The sculpture 'Anonymous' is part of the Sovereignty exhibition at the Venice Art Biennale, featuring works by US artist Simone Leigh at the US pavilion. Leigh was awarded the Golden Lion for the best presentation. EPA
    The sculpture 'Anonymous' is part of the Sovereignty exhibition at the Venice Art Biennale, featuring works by US artist Simone Leigh at the US pavilion. Leigh was awarded the Golden Lion for the best presentation. EPA
  • Simone Leigh's sculpture of an eyeless African-American woman, surrounded by Cuban artist Belkis Ayon's prints of a secret Afro-Cuban society in the main exhibition The Milk of Dreams. Photo: Roberto Marossi
    Simone Leigh's sculpture of an eyeless African-American woman, surrounded by Cuban artist Belkis Ayon's prints of a secret Afro-Cuban society in the main exhibition The Milk of Dreams. Photo: Roberto Marossi
  • Francis Alys’ 'The Name of the Game' at the Belgian pavilion. Photo: Roberto Ruiz
    Francis Alys’ 'The Name of the Game' at the Belgian pavilion. Photo: Roberto Ruiz
  • Textiles, and their evocations of craft and slow, painstaking labour, were an important theme, as was spirituality. Both came together in Myrlande Constant's Voodoo flags. Photo: Roberto Marossi
    Textiles, and their evocations of craft and slow, painstaking labour, were an important theme, as was spirituality. Both came together in Myrlande Constant's Voodoo flags. Photo: Roberto Marossi
  • Brazilian artist Solange Pessoa paints creatures on the verge of transformation in 'Sonhiferas, I, 2020', on view in the Arsenale. Photo: Roberto Marossi
    Brazilian artist Solange Pessoa paints creatures on the verge of transformation in 'Sonhiferas, I, 2020', on view in the Arsenale. Photo: Roberto Marossi
  • Visitors take in Pessoa's work. EPA
    Visitors take in Pessoa's work. EPA
  • The Milk of Dreams had several 'capsule' shows. One of the best explored the work of female surrealists, or women whose work can be considered in line with Surrealism, such as the Algerian artist Baya Mahieddine. Photo: Marco Cappelletti
    The Milk of Dreams had several 'capsule' shows. One of the best explored the work of female surrealists, or women whose work can be considered in line with Surrealism, such as the Algerian artist Baya Mahieddine. Photo: Marco Cappelletti
  • Belkis Ayon's prints document the secret Afro-Cuban society known as Abakua. Photo: Roberto Marossi
    Belkis Ayon's prints document the secret Afro-Cuban society known as Abakua. Photo: Roberto Marossi
  • Cecilia Alemani, the Italian curator of the 59th Venice Art Biennale. AFP
    Cecilia Alemani, the Italian curator of the 59th Venice Art Biennale. AFP
  • The Milk of Dreams is notable for its wide geographical representation. In the Arsenale, the late US artist Ficre Ghebreyesus shows memories of his youth in Asmara, Eritrea. Photo: Roberto Marossi
    The Milk of Dreams is notable for its wide geographical representation. In the Arsenale, the late US artist Ficre Ghebreyesus shows memories of his youth in Asmara, Eritrea. Photo: Roberto Marossi
  • In the section focused on organic forms, this installation by Ruth Asawa is called 'A Leaf a Gourd a Shell a Net a Bag a Sling a Sack a Bottle a Pot a Box a Container'. Photo: Roberto Marossi
    In the section focused on organic forms, this installation by Ruth Asawa is called 'A Leaf a Gourd a Shell a Net a Bag a Sling a Sack a Bottle a Pot a Box a Container'. Photo: Roberto Marossi
  • Visitors at Asawa's installation. AFP
    Visitors at Asawa's installation. AFP
  • Delcy Morelos' 'Earthly Paradise, 2022', fills the cavernous Arsenale with packed, redolent earth. Photo: Roberto Marossi
    Delcy Morelos' 'Earthly Paradise, 2022', fills the cavernous Arsenale with packed, redolent earth. Photo: Roberto Marossi
  • Monira Al Qadiri's drill bits, 'Orbital, 2022', resemble a trio of sci-fi temples. Photo: Roberto Marossi
    Monira Al Qadiri's drill bits, 'Orbital, 2022', resemble a trio of sci-fi temples. Photo: Roberto Marossi
  • A video and collage by Lynn Hershman Leeson, who connects digital culture to new modes of identity. Cyborgs and digital art are a major sub-theme of the Venice Art Biennale. Photo: Roberto Marossi
    A video and collage by Lynn Hershman Leeson, who connects digital culture to new modes of identity. Cyborgs and digital art are a major sub-theme of the Venice Art Biennale. Photo: Roberto Marossi
  • Veteran New York artist Barbara Kruger has been given a whole room to fill with her cutting proclamations on politics and social responsibilities. Photo: Roberto Marossi
    Veteran New York artist Barbara Kruger has been given a whole room to fill with her cutting proclamations on politics and social responsibilities. Photo: Roberto Marossi
  • Portia Zvavahera creates oil-based stencils on linen, in invocations of animals and subjects. Photo: Roberto Marossi
    Portia Zvavahera creates oil-based stencils on linen, in invocations of animals and subjects. Photo: Roberto Marossi
  • Lebanese artist Ali Cherri's 'Titans, 2022', resemble gods made from the earth itself. Photo: Roberto Marossi
    Lebanese artist Ali Cherri's 'Titans, 2022', resemble gods made from the earth itself. Photo: Roberto Marossi
  • Visitors look at the 'Untitled' installation by Lebanese artist Ali Cherri. EPA
    Visitors look at the 'Untitled' installation by Lebanese artist Ali Cherri. EPA
UAE FIXTURES

October 18 – 7.30pm, UAE v Oman, Zayed Cricket Stadium, Abu Dhabi
October 19 – 7.30pm, UAE v Ireland, Zayed Cricket Stadium, Abu Dhabi
October 21 – 2.10pm, UAE v Hong Kong, Zayed Cricket Stadium, Abu Dhabi
October 22 – 2.10pm, UAE v Jersey, Zayed Cricket Stadium, Abu Dhabi
October 24 – 10am, UAE v Nigeria, Abu Dhabi Cricket Oval 1
October 27 – 7.30pm, UAE v Canada, Zayed Cricket Stadium, Abu Dhabi

October 29 – 2.10pm, Playoff 1 – A2 v B3; 7.30pm, Playoff 2 – A3 v B2, at Dubai International Stadium.
October 30 – 2.10pm, Playoff 3 – A4 v Loser of Play-off 1; 7.30pm, Playoff 4 – B4 v Loser of Play-off 2 at Dubai International Stadium

November 1 – 2.10pm, Semifinal 1 – B1 v Winner of Play-off 1; 7.30pm, Semifinal 2 – A1 v Winner of Play-off 2 at Dubai International Stadium
November 2 – 2.10pm, Third place Playoff – B1 v Winner of Play-off 1; 7.30pm, Final, at Dubai International Stadium

How they line up for Sunday's Australian Grand Prix

1 Lewis Hamilton, Mercedes

2 Kimi Raikkonen, Ferrari

3 Sebastian Vettel, Ferrari

4 Max Verstappen, Red Bull

5 Kevin Magnussen, Haas

6 Romain Grosjean, Haas

7 Nico Hulkenberg, Renault

*8 Daniel Ricciardo, Red Bull

9 Carlos Sainz, Renault

10 Valtteri Bottas, Mercedes

11 Fernando Alonso, McLaren

12 Stoffel Vandoorne, McLaren

13 Sergio Perez, Force India

14 Lance Stroll, Williams

15 Esteban Ocon, Force India

16 Brendon Hartley, Toro Rosso

17 Marcus Ericsson, Sauber

18 Charles Leclerc, Sauber

19 Sergey Sirotkin, Williams

20 Pierre Gasly, Toro Rosso

* Daniel Ricciardo qualified fifth but had a three-place grid penalty for speeding in red flag conditions during practice

The Programme

Saturday, October 26: ‘The Time That Remains’ (2009) by Elia Suleiman
Saturday, November 2: ‘Beginners’ (2010) by Mike Mills
Saturday, November 16: ‘Finding Vivian Maier’ (2013) by John Maloof and Charlie Siskel
Tuesday, November 26: ‘All the President’s Men’ (1976) by Alan J Pakula
Saturday, December 7: ‘Timbuktu’ (2014) by Abderrahmane Sissako
Saturday, December 21: ‘Rams’ (2015) by Grimur Hakonarson

THE%20SPECS
%3Cp%3EEngine%3A%203-litre%20V6%20turbo%20(standard%20model%2C%20E-hybrid)%3B%204-litre%20V8%20biturbo%20(S)%0D%3Cbr%3EPower%3A%20350hp%20(standard)%3B%20463hp%20(E-hybrid)%3B%20467hp%20(S)%0D%3Cbr%3ETorque%3A%20500Nm%20(standard)%3B%20650Nm%20(E-hybrid)%3B%20600Nm%20(S)%0D%0D%3Cbr%3EPrice%3A%20From%20Dh368%2C500%0D%3Cbr%3EOn%20sale%3A%20Now%3C%2Fp%3E%0A
The Lowdown

Kesari

Rating: 2.5/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Anubhav Singh
Cast: Akshay Kumar, Parineeti Chopra

 

While you're here

Rainbow

Kesha

(Kemosabe)

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Hoopla%3Cbr%3E%3Cstrong%3EDate%20started%3A%20%3C%2Fstrong%3EMarch%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Jacqueline%20Perrottet%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2010%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%3Cbr%3E%3Cstrong%3EInvestment%20required%3A%3C%2Fstrong%3E%20%24500%2C000%3C%2Fp%3E%0A
MATCH INFO

Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai

Mountain%20Boy
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Zainab%20Shaheen%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Naser%20Al%20Messabi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3C%2Fstrong%3E%3A%203%2F5%3C%2Fp%3E%0A
Profile of Tarabut Gateway

Founder: Abdulla Almoayed

Based: UAE

Founded: 2017

Number of employees: 35

Sector: FinTech

Raised: $13 million

Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment.

Straightforward ways to reduce sugar in your family's diet
  • Ban fruit juice and sodas
  • Eat a hearty breakfast that contains fats and wholegrains, such as peanut butter on multigrain toast or full-fat plain yoghurt with whole fruit and nuts, to avoid the need for a 10am snack
  • Give young children plain yoghurt with whole fruits mashed into it
  • Reduce the number of cakes, biscuits and sweets. Reserve them for a treat
  • Don’t eat dessert every day 
  • Make your own smoothies. Always use the whole fruit to maintain the benefit of its fibre content and don’t add any sweeteners
  • Always go for natural whole foods over processed, packaged foods. Ask yourself would your grandmother have eaten it?
  • Read food labels if you really do feel the need to buy processed food
  • Eat everything in moderation
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

25%20Days%20to%20Aden
%3Cp%3EAuthor%3A%20Michael%20Knights%3C%2Fp%3E%0A%3Cp%3EPages%3A%20256%3C%2Fp%3E%0A%3Cp%3EAvailable%3A%20January%2026%3C%2Fp%3E%0A
The%C2%A0specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.5-litre%2C%20twin-turbo%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E410hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E495Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Estarts%20from%20Dh495%2C000%20(Dh610%2C000%20for%20the%20F-Sport%20launch%20edition%20tested)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Mina Cup winners

Under 12 – Minerva Academy

Under 14 – Unam Pumas

Under 16 – Fursan Hispania

Under 18 – Madenat

HER%20FIRST%20PALESTINIAN
%3Cp%3EAuthor%3A%20Saeed%20Teebi%3C%2Fp%3E%0A%3Cp%3EPages%3A%20256%3C%2Fp%3E%0A%3Cp%3EPublisher%3A%C2%A0House%20of%20Anansi%20Press%3C%2Fp%3E%0A
THE TWIN BIO

Their favourite city: Dubai

Their favourite food: Khaleeji

Their favourite past-time : walking on the beach

Their favorite quote: ‘we rise by lifting others’ by Robert Ingersoll

The specs: 2019 Aston Martin DBS Superleggera

Price, base: Dh1.2 million

Engine: 5.2-litre twin-turbo V12

Transmission: Eight-speed automatic

Power: 725hp @ 6,500pm

Torque: 900Nm @ 1,800rpm

Fuel economy, combined:  12.3L / 100km (estimate)

Who has lived at The Bishops Avenue?
  • George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
  • Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
  • Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
  • Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills. 
Hunting park to luxury living
  • Land was originally the Bishop of London's hunting park, hence the name
  • The road was laid out in the mid 19th Century, meandering through woodland and farmland
  • Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds

 

%E2%80%98FSO%20Safer%E2%80%99%20-%20a%20ticking%20bomb
%3Cp%3EThe%20%3Cem%3ESafer%3C%2Fem%3E%20has%20been%20moored%20off%20the%20Yemeni%20coast%20of%20Ras%20Issa%20since%201988.%3Cbr%3EThe%20Houthis%20have%20been%20blockading%20UN%20efforts%20to%20inspect%20and%20maintain%20the%20vessel%20since%202015%2C%20when%20the%20war%20between%20the%20group%20and%20the%20Yemen%20government%2C%20backed%20by%20the%20Saudi-led%20coalition%20began.%3Cbr%3ESince%20then%2C%20a%20handful%20of%20people%20acting%20as%20a%20%3Ca%20href%3D%22https%3A%2F%2Fwww.google.ae%2Furl%3Fsa%3Dt%26rct%3Dj%26q%3D%26esrc%3Ds%26source%3Dweb%26cd%3D%26ved%3D2ahUKEwiw2OfUuKr4AhVBuKQKHTTzB7cQFnoECB4QAQ%26url%3Dhttps%253A%252F%252Fwww.thenationalnews.com%252Fworld%252Fmena%252Fyemen-s-floating-bomb-tanker-millions-kept-safe-by-skeleton-crew-1.1104713%26usg%3DAOvVaw0t9FPiRsx7zK7aEYgc65Ad%22%20target%3D%22_self%22%3Eskeleton%20crew%3C%2Fa%3E%2C%20have%20performed%20rudimentary%20maintenance%20work%20to%20keep%20the%20%3Cem%3ESafer%3C%2Fem%3E%20intact.%3Cbr%3EThe%20%3Cem%3ESafer%3C%2Fem%3E%20is%20connected%20to%20a%20pipeline%20from%20the%20oil-rich%20city%20of%20Marib%2C%20and%20was%20once%20a%20hub%20for%20the%20storage%20and%20export%20of%20crude%20oil.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EThe%20%3Cem%3ESafer%3C%2Fem%3E%E2%80%99s%20environmental%20and%20humanitarian%20impact%20may%20extend%20well%20beyond%20Yemen%2C%20experts%20believe%2C%20into%20the%20surrounding%20waters%20of%20Saudi%20Arabia%2C%20Djibouti%20and%20Eritrea%2C%20impacting%20marine-life%20and%20vital%20infrastructure%20like%20desalination%20plans%20and%20fishing%20ports.%C2%A0%3C%2Fp%3E%0A
Why your domicile status is important

Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.

Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born. 

UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.

A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.

Updated: December 05, 2022, 11:43 AM