There’s an existential threat facing Earth from a malevolent alien general, and the planet’s best hope is miles away in outer space.
It sounds like the plot from Superman 3, but Nick Fury is no Superman – just a mortal committed to doing his best for the planet. And while Superman’s nemesis General Zod merely wanted to submit humanity to his tyrannical rule, Kingsley Ben-Adir’s Gravik – the leader of a terrorist faction of earth-dwelling, shape-shifting Skrulls and Secret Invasion’s public enemy number one – is hellbent on seeing humanity destroy itself so his people can claim the planet as their own.
If we were to look to another superhero movie or show to compare to Secret Invasion, which airs on Disney+ on June 21, we might find a closer fit in Logan – James Mangold’s meandering swansong for Hugh Jackman’s much-loved X-man.
The Fury we encounter in Invasion is a shadow of his former self. He’s never truly recovered from The Blip, we’re told. He’s world-weary, none-too-pleased to be recalled from self-imposed exile to save the day, and physically in no shape to do so.
It’s fitting then that Invasion takes a more measured tone than Marvel is sometimes known for. There are no flashy special effects and lurid colour schemes, with capes and costumes nowhere in sight.
Don Cheadle’s Rhodey is the only Avenger in town as Gravik’s evil plot takes shape, and he’s left the War Machine suit at home to take up a job for the government – a job that primarily involves getting Fury off the case.
Ben-Adir’s villain too is very much a shadowy figure, more likely to be found lurking in dark corners of Eastern Europe than camping up his villainy in the style of Marvel baddies Thanos and Loki.
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Fury is taken back to his spying roots here, in what is more classic espionage thriller than superhero bombast. The rogue agent is hunted by both his bosses and the secretive villains they’re too blind to see – the plot pits Russia against Nato in a deadly stand-off that could leave you wondering whether you’re watching Disney+ or CNN. The classic device of supposedly allied agencies making life worse for everyone by constantly competing to outdo each other is very much at play.
As the MCU enters Phase Five – Invasion is the debut TV show in the phase that kicked off in cinemas with Ant-Man and The Wasp: Quantumania in February – it’s appropriate that it falls to Fury to save the day.
It’s been 15 years since he debuted in the post-credits of 2008’s Iron Man, and about time he played the lead. He is, after all, the beating heart of all that has gone before – the founder of Shield, and the man who brought The Avengers together.
Fury may have to take responsibility for rescuing the MCU off-screen too. Recent films have failed to set the world alight as did those before them. Three of the franchise’s worst-performing films to date were released in 2021 (Eternals, Black Widow and Shang-Chi), and Quantumania’s sub-$500m box office was something of a flop in Marvel terms.
With the future of the phase in question thanks to legal troubles surrounding its planned linchpin villain, Jonathan Majors’s Kang the Conqueror, a well-performing Invasion would be just the shot in the arm Marvel needs.
Jackson is assisted by some impressive newcomers to the MCU. Ben-Adir, best known as a good guy for his roles in Vera and The OA, switches to devastatingly handsome cold-blooded killer with ease, while Olivia Coleman is a scene stealer as MI6 agent Sonya Falsworth. Combine all Coleman’s quirkiest, most ditsy roles, add a dash of sadistic torturer, and you have Falsworth in a nutshell.
The languid pace could turn some viewers off, but as a fan of the more noir-end of the spy genre I’m counting that as a positive. Whether a brooding Fury can successfully save the entire MCU both on and off-screen remains to be seen, but Invasion can reasonably claim to be among its stronger small-screen offerings to date.
Secret Invasion is streaming on Disney+ from Wednesday June 21 with new episodes on Wednesdays
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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.”
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Newcastle United 1
Joselu (11')
Tottenham Hotspur 2
Vertonghen (8'), Alli (18')
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
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
The specs
Engine: 2x201bhp AC Permanent-magnetic electric
Transmission: n/a
Power: 402bhp
Torque: 659Nm
Price estimate: Dh200,000
On sale: Q3 2022
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
The specs: 2018 BMW R nineT Scrambler
Price, base / as tested Dh57,000
Engine 1,170cc air/oil-cooled flat twin four-stroke engine
Transmission Six-speed gearbox
Power 110hp) @ 7,750rpm
Torque 116Nm @ 6,000rpm
Fuel economy, combined 5.3L / 100km
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