It was a category that included some formidable names, such as Viola Davis, Frances McDormand and Carey Mulligan, each multi-award winners in their own right.
However, at this year's Golden Globe Awards, it was a first-time nominee who scooped Best Actress in a Drama, becoming only the second black performer to do so.
Andra Day took home the trophy at Sunday night's ceremony, becoming the second black actress to win the category at the Golden Globes, following Whoopi Goldberg's triumph for The Colour Purple in 1986.
The American actress, 36, portrays the namesake jazz star in The United States vs Billie Holiday, a biopic directed by Lee Daniels.
McDormand had been sweeping film awards with her performance in Nomadland, but now Day looks like a likely contender to go up against her when the Academy Awards nominations are revealed on Monday, March 15.
Who is Andra Day?
If you're not familiar with her work on screen, that's not surprising, as The United States vs Billie Holiday actually marks Day's acting debut.
The San Diego star, born Cassandra Monique Batie, had carved out a career as a talented singer-songwriter, releasing her debut album, Cheers to the Fall, in 2015.
The album, which includes hit single Rise Up, was nominated for Best R&B Album at the 2016 Grammy Awards.
Day was first discovered by Kai Millard, then Stevie Wonder's wife, in 2010 after she noticed the singer performing at a mall. After telling her husband about the talented singer, Wonder put Day in contact with producer Adrian Gurvitz, the star told Newsday in 2016.
However, it was Day's YouTube channel which caused her star to rise, with her mash-up and cover recordings eventually netting her a deal with Warner Bros Records, now Warner Records.
The singer gained thousands of followers by fusing tracks, such as Amy Winehouse's He Can Only Hold Her and Lauryn Hill's Doo-Wop.
After her debut album was released, Day starred alongside mentor Wonder in an Apple TV advert, with the pair singing Someday At Christmas.
The Superstition star isn't Day's only A-list fan, either. The singer also won over director Spike Lee during a performance at the 2014 Sundance Film Festival, with the filmmaker volunteering to direct the video for her first single, Forever Mine.
While she is yet to release a second album, Day appeared on the track Stand Up for Something with rapper Common, which was recorded for the 2017 legal drama film Marshall. The single was nominated for the Academy Award for Best Original Song, with the pair performing at the 2018 Oscars.
What did she win her Golden Globe for?
Day's jazz-infused vocals landed her the lead role in biographical drama The United States vs Billie Holiday.
The film, released on Hulu in the US this year, also stars Natasha Lyonne and Garrett Hedlund.
It follows the story of the jazz legend as she is targeted by the US government during its war on drugs in the 1940s, with the singer subjected to years of surveillance thanks to her history of addiction and her powerful song, Strange Fruit.
The government feared the track, which focuses on the lynching of black Americans in the South in the 20th century, would lead to widespread violence and unrest.
Daniels admits he was reluctant to cast Day in the role, because of her lack of acting experience, though he was won over after meeting the singer.
"She was enchanting and she did embody the spirit of Billie," the filmmaker told The Hollywood Reporter in January. "I sent her to an acting coach because she had not acted before. And the acting coach, on the fly, turned her iPhone on and showed me her prepping and getting into character. Just from that 30 seconds of video footage, I saw Billie Holiday without question. The game was up. There was no acting. There was just being."
Day was also nominated for Best Original Song at the Golden Globes, for Tigress & Tweed which she recorded for the film. However, she was pipped to the post by Io Si (Seen) from The Life Ahead.
The star was among several winners who made history during this year's ceremony, including director Chloe Zhao, who became only the second woman and first Asian woman to win the Best Director award.
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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
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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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