The International Indian Film Academy Awards are returning to the UAE for the first time since 2006, with Abu Dhabi playing host in May. To be held at the Etihad Arena on Yas Island, the IIFA Weekend & Awards will feature performances by some of the biggest Indian stars across two days, on May 20 and 21, with many of the top films and actors of the past year to be honoured on the second night.
The event was initially scheduled to be held in March, but was postponed "due to changing circumstances in the spread of the Covid-19 virus", organisers said.
"We at IIFA are responsible and committed to ensure the safety of the citizens and multitudes of IIFA fans who travel from across the globe to attend and experience the magic," they said.
Bollywood star Salman Khan will play host at the gala awards night, along with actors Riteish Deshmukh and Maniesh Paul. Performers include Ranveer Singh, who was recently named the brand ambassador for Yas Island, as well as actors Varun Dhawan and Ananya Panday.
“I have always enjoyed being a part of the IIFA family and travelling to some great destinations, but this year I am super-happy that we are headed to one of my personal favourites, Yas Island, Abu Dhabi," Khan said.
"IIFA is always a memorable time and this year it will be an even bigger celebration as we celebrate the 75th year of India’s independence and the UAE’s 50th anniversary Golden Jubilee."
Speaking at an event in Mumbai in March to announce some of the performers, Dhawan said the IIFA Awards has given him "some very precious moments".
"Holding the IIFA trophy, performing in the festivities is special. In this edition, we are travelling to Abu Dhabi, which is one of my favourite cities, and I am really looking forward to connecting with fans and having a fun time overall."
What are the IIFA Awards?
First held in the year 2000, in London, the IIFA Awards were conceptualised by Mumbai event company Wizcraft International Entertainment to honour the best Hindi films and movie talents of the previous year. It is held in a different country every year, and has been instrumental in boosting Bollywood's popularity globally.
Dubai hosted the event in 2006, and so has Bangkok, New York, Colombo, Amsterdam, Madrid, Florida, Kuala Lumpur and Macau.
While the 2020 and 2021 events were cancelled owing to the Covid-19 pandemic, the last IIFA event was held in Mumbai, the home of Bollywood.
"Over the last 21 years, the IIFA has not only given Indian cinema an international platform, but it has created a wonderful opportunity to take us to our fans and connect millions of people globally," Khan said.
What happens at the IIFA Weekend & Awards?
Usually spread across several days, the IIFA Awards features concerts, fashion shows and promotional events. But the final evening is the gala awards night when the biggest stars arrive.
The event will begin with IIFA Rocks, a night dedicated to music, on May 20, hosted by actress Parineeti Chopra and director and producer Karan Johar. Performers announced so far for the night include composer and singer Devi Sri Prasad, music whiz Tanishk Bagchi, singer Neha Kakkar and Dhvani Bhanushali. Punjabi pop star Guru Randhawa and rapper Honey Singh will also present their new collaboration, the single Designer.
"The IIFA has always been associated with bringing global fans closer to Bollywood and closer to all of us. So being a part of the IIFA has always been special, but this time it's even more special because it's happening at Yas Island, Abu Dhabi, and I am super-excited to be there and meet everyone," Chopra said.
Johar, who is also known for his talk show Koffee with Karan, said the IIFA Awards is "beyond just an event".
"It’s a brand and a platform where talent is bestowed on from music, arts and culture along with fashion shows that make it an extravagant weekend," he said.
What to expect in Abu Dhabi
After a two-year break, the next IIFA event promises to return with a bang at Etihad Arena, the state-of-the-art indoor stadium on Yas Island.
"I am proud and excited to get ready to host the 2022 IIFA Weekend & Awards in Abu Dhabi," host Khan said. "I’m so happy to be coming back with them, especially to a place I love."
Mohamed Abdalla Al Zaabi, chief executive of Miral, the developer of Yas Island, called it an "honour" to host the awards.
"As the Middle East’s largest state-of-the-art indoor entertainment venue, Etihad Arena presents an ideal setting for world-class events that attract international stars and audiences," he said.
Who will perform at the event?
As well as Singh, Dhawan and Panday, actors Kartik Aaryan, Sara Ali Khan, Divya Khosla Kumar and Nora Fatehi have also been confirmed as performers so far.
“Yas Island is like home to me, as I am the brand ambassador of such a spectacular destination. I am super-thrilled to be heading there to entertain people with a performance that will be super-special," Singh said. "It’s going to be epic.“
Aaryan, who hosted the 2018 awards, called it a "phenomenal experience".
"I’m elated to perform once again at the 22nd edition of the biggest celebration of Indian cinema. IIFA truly is an embodiment of a global phenomenon with its massive fan following and I’m looking forward to the IIFA Awards at Yas Island, Abu Dhabi, this year, he said.
Who is nominated for an award?
Nominees for 12 of the most popular categories have been announced. War film Shershaah, starring Sidharth Malhotra and Kiara Advani, leads with a whopping 12 nominations, followed by Singh's cricket biopic 83, which has nine and Abhishek Bachchan's Ludo which has six.
Atrangi Re and Thappad follow close behind with five nods, while Mimi has four.
A full list of nominees is here.
How much do tickets cost?
Tickets to the IIFA Awards are already selling out, with the venue's Upper Tier seats priced at Dh110 and Dh220 no longer available. Lower Tier tickets from Dh330 to Dh1,350 are still available at etihadarena.ae.
— This article was first published on December 21, 2021
In%20the%20Land%20of%20Saints%20and%20Sinners
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERobert%20Lorenz%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Liam%20Neeson%2C%20Kerry%20Condon%2C%20Jack%20Gleeson%2C%20Ciaran%20Hinds%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3C%2Fp%3E%0A
'Ghostbusters: From Beyond'
Director: Jason Reitman
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
Queen
Nicki Minaj
(Young Money/Cash Money)
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
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
ORDER OF PLAY ON SHOW COURTS
Centre Court - 4pm (UAE)
Gael Monfils (15) v Kyle Edmund
Karolina Pliskova (3) v Magdalena Rybarikova
Dusan Lajovic v Roger Federer (3)
Court 1 - 4pm
Adam Pavlasek v Novak Djokovic (2)
Dominic Thiem (8) v Gilles Simon
Angelique Kerber (1) v Kirsten Flipkens
Court 2 - 2.30pm
Grigor Dimitrov (13) v Marcos Baghdatis
Agnieszka Radwanska (9) v Christina McHale
Milos Raonic (6) v Mikhail Youzhny
Tsvetana Pironkova v Caroline Wozniacki (5)
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.”
Marathon results
Men:
1. Titus Ekiru(KEN) 2:06:13
2. Alphonce Simbu(TAN) 2:07:50
3. Reuben Kipyego(KEN) 2:08:25
4. Abel Kirui(KEN) 2:08:46
5. Felix Kemutai(KEN) 2:10:48
Women:
1. Judith Korir(KEN) 2:22:30
2. Eunice Chumba(BHR) 2:26:01
3. Immaculate Chemutai(UGA) 2:28:30
4. Abebech Bekele(ETH) 2:29:43
5. Aleksandra Morozova(RUS) 2:33:01
