The TV series Industry has been praised for its realism as well as its diversity of cast.
The popular HBO/BBC co-production returns to our screens at the weekend for a second season, following the long days, and even longer nights, of the young employees of fictional London investment bank Pierpoint & Co.
The first season, written by former London bankers Mickey Down and Konrad Kay, introduced a world where, as long as you are making money for the bank, little else matters, leading to a toxic work culture of bullying, harassment and some very questionable morals.
When it comes to depictions of investment banking — and the industry itself — the genre has typically been populated by white men a la The Wolf of Wall Street and The Big Short. The trading floor of Pierpoint, however, features a refreshingly mixed bunch of aspiring Gordon Geckos. This includes Myha’la Herrold’s Harper Stern, a young black woman uprooted from her native New York, and who lied about her qualifications to try and make her fortune among the old boys network of London’s financial district. There's also Ken Leung’s Asian-American manager Eric Tao and Harry Lawtey’s Robert Spearing, who is Welsh, working-class, and an Oxford graduate.
Then there's the character of Yasmin Kara-Hanani, played by Marisa Abela. Yasmin is the British-raised child of wealthy Lebanese parents who, as well as demonstrating the ability to flit effortlessly between Western and Arabic cultural norms, is fluent in English, Arabic, Spanish, German and French.
Like Yasmin, Abela was raised in the UK, but her heritage is Maltese, Libyan, Russian and Polish. So how closely does her own multicultural background mirror that of her character?
“Well, I am someone whose mum and dad come from completely different cultures — my dad is Maltese Arab, and my mum is from a family of Polish Jewish refugees,” she tells The National. “You'll see this season that Yasmin's dad is more similar to my mum’s heritage, and her mum’s is most similar to my dad’s. Like Yasmin, my parents are separated, and we both grew up and went to boarding school in England. But the thing I relate to most is that those two cultures can be quite divisive, and you can feel like you're being pulled in different directions.”
Despite the surface similarities, and the shared experience of being sometimes caught between two worlds, Abela admits that Yasmin’s polyglot nature is not one she closely relates to. “Oh no, not at all,” she says with a laugh. “I spoke Spanish at school, and that was about it. I love languages though and it's always a nice challenge when Yasmin has to speak French or Arabic.”
As part of that challenge, Abela was required to take classes for many of Yasmin’s multilingual lines, and she didn’t have to look too far from home for assistance with the Arabic dialogue. The Maltese language is the only surviving example of the Arabic dialects that were spoken in the European Mediterranean in the Middle Ages, and the only Semitic language which is written in Latin Script. About a third of Maltese words, not to mention almost all of its grammar, come directly from Arabic, while research by the Linguistics Society of Europe has found that as much as 40 per cent of Maltese can be understood by speakers of Maghrebi Arabic, and vice versa.
With most of Abela’s paternal family still living in Malta, she had a convenient place to turn to for a crash course. “Maltese has a lot of Arabic in it — counting to 10 in Maltese is exactly the same as counting to 10 in Arabic — so it wasn't something I was coming completely new to,” Abela explains. “I used my grandad to learn all of the Arabic he could teach me through Maltese, in particular, to get the sounds right, because they’re totally different. It’s not like French or Spanish, the Arabic sounds sit in a totally different part of the mouth, so I tried to get all that right first, and then when it came to the actual classes, I really took them seriously as I was determined to get it right.”
While season one of Industry was heavy on finance and light on back stories (perhaps understandably so because many characters’ identities are almost entirely defined by their work), season two promises to spend more time outside Pierpoint’s walls. We'll get to know plenty more about Yasmin’s family and background, and see if those Arabic lessons have paid off.
For Abela’s co-star Herrold, with whom she shares top billing in the show, there’s another reason to be excited. “I would say this is the only bit of television that you come to through the eyes of young women in the finance industry,” Herrold says. “I don't know of anything else that exists, and we're lucky to be two young women with these really strong storylines leading this show.
“What's exciting about these characters is that they don't fall into any of the tropes a lot of women characters do. For example, at the end of the first season, Marisa and I had a fight, but we were all committed not to make it a ‘catfight’ and fall into stereotypes. It’s been important to me to play a woman who is not what you might assume. That’s refreshing, it’s what makes the show work, and it’s important.”
Industry season 2 comes out on OSN+ on Monday, August 1
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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
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Ten10 Cricket League
Venue and schedule Sharjah Cricket Stadium, December 14 to 17
Teams
Maratha Arabians Leading player: Virender Sehwag; Top picks: Mohammed Amir, Imad Wasim; UAE players: Shaiman Anwar, Zahoor Khan
Bengal Lions Leading player: Sarfraz Ahmed; Top picks: Sunil Narine, Mustafizur Rahman; UAE players: Mohammed Naveed, Rameez Shahzad
Kerala Kings Leading player: Eoin Morgan; Top picks: Kieron Pollard, Sohail Tanvir; UAE players: Rohan Mustafa, Imran Haider
Pakhtoons Leading player: Shahid Afridi; Top picks: Fakhar Zaman, Tamim Iqbal; UAE players: Amjad Javed, Saqlain Haider
Punjabi Legends Leading player: Shoaib Malik; Top picks: Hasan Ali, Chris Jordan; UAE players: Ghulam Shabber, Shareef Asadullah
Team Sri Lanka Cricket Will be made up of Colombo players who won island’s domestic limited-overs competition
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.