Bollywood actor Salman Khan. AFP
Bollywood actor Salman Khan. AFP
Bollywood actor Salman Khan. AFP
Bollywood actor Salman Khan. AFP

Salman Khan appeal on hold until July 1


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Bollywood star Salman Khan’s appeal against his conviction by a lower court for killing a man sleeping on a pavement when he crashed his vehicle into a Mumbai bakery in September 2002 has been adjourned until July 1. His lawyer, Amit Desai, told the Bombay High Court that the evidence and documents were still being compiled by the court. Justice A R Joshi ordered the swift completion of the paperwork before a formal hearing could take place. The actor was sentenced to five years in jail on May 6 after being found guilty of several charges, including culpable homicide not amounting to murder, and drink driving. The 49-year-old appealed against the conviction to the high court, which suspended his sentence and granted him bail. – IANS

Bond author to attend Emirates lit fest

New James Bond author Anthony Horowitz, veteran American journalist Dan Rather and popular philosopher A C Grayling will return to the Emirates Airline Festival of Literature next year. They are among the first authors confirmed for the event, which runs from March 8 to 12 at the InterContinental Dubai Festival City. Others include British crime author Ian Rankin, British poet laureate Carol Ann Duffy and Emirati counsellor and life coach Hala Kazim. Literary discussions will be on the festival's theme of time. For details, go to www.emirateslitfest.com. – The National staff

5SOS star fine after burning face on stage

5 Seconds of Summer guitarist Michael Clifford has reassured fans that he is fine after his face was burnt during an onstage pyrotechnic mishap. Horrified fans saw the 19-year-old’s hair catch fire as bursts of flame shot from the stage during the Australian band’s concert at Wembley Arena in London on Saturday. Clifford quickly put a towel over his head and the concert was cut short. He later tweeted a picture of his face half-covered in bandages, with a message saying he was “doing OK”. Clifford was back on stage at Wembley on Sunday for the final show of the band’s European tour, which went ahead without pyrotechnics. The accident happened a day after Dave Grohl of Foo Fighters fell from the stage and broke his leg during a concert in Gothenburg, Sweden. – AP

The Rock owns up to crashing into truck

Furious 7 star Dwayne "The Rock" Johnson crashed into a truck while filming his latest movie in Massachusetts. The action star – whose latest film, the earthquake adventure San Andreas is in cinemas now – took to Instagram on Monday to say he hit a parked vehicle and damaged its side mirror while driving to the set of the film Central Intelligence, an action comedy also starring Kevin Hart. Johnson said the owner, Audie Bridges, recognised him and refused to accept any money for the damage. He thanked the Wakefield resident for "being so cool about the whole thing" before posing for a picture with him by the damaged truck. The Boston Globe reported that Bridges confirmed on Monday that the incident happened about a month ago and he was able to fix the damage himself. – AP

Jurassic World smashes another record

Dinosaurs rule the world once more – in cinema terms, at least – after official box-office figures confirmed Jurassic World had the best global opening weekend in movie history and revealed that it had beaten The Avengers record in North America. Initial estimates had put the film, starring Chris Pratt and Bryce Dallas Howard, at US$204.6 million (Dh749.3) in the United States and Canada, just behind the 2012 Marvel movie's $207.4m – but when the final totals were revealed on Monday by Exhibitor Relations, the total was $208.8m. The final global total was $511m, which included $100m in China. That smashed the previous record of $483m, held by Harry Potter and the Deathly Hallows: Part 2. – AFP

Poet wins free-speech prize

Poet James Fenton has won the PEN Pinter Prize, a writing award that celebrates champions of free speech. Fenton is a former Oxford University professor of poetry and war correspondent. Many of his poems deal with conflict and its aftermath, including those in the collections The Memory of War and Children in Exile. Maureen Freely, president of the writers' group English PEN, said Fenton "has spoken truth to power – forcefully, fearlessly and beautifully". The award was established in 2009 in memory of Nobel Prize-winning playwright Harold Pinter. It is given jointly to a British writer who shares Pinter's "unflinching, unswerving" social gaze and to an international writer who has faced persecution, chosen by the British winner and PEN. The joint winner will be announced on October 6 – AP

Prince rocks White House at ‘secret’ gig

Prince and other musicians, including Stevie Wonder, performed some of his greatest hits at a weekend White House party for the American president, Barack Obama, and his wife Michelle. But although guests shared the details on social media, White House spokesman Josh Earnest refused to confirm the gig, saying he had no details about the private event. About 500 lobbyists, corporate executives, celebrities and other guests reportedly attended. Earnest said the Obamas threw the party “on their own dime” but did not say how much it cost or what they paid. The reverend Al Sharpton tweeted on Sunday after leaving the White House that it was “awesome” to see Prince and Stevie Wonder together on the keyboards. Prince also performed in Washington on Saturday at the Warner Theater. – AP

Depardieu ‘persuaded’ Cannes to screen controversial Fifa film

Actor Gerard Depardieu personally intervened to persuade the Cannes Film Festival to show the widely ridiculed Fifa-funded movie United Passions that sank almost without trace at the box office after being panned by critics. Cannes director Thierry Fremaux said he rejected the movie, thinking it unworthy of the festival. But Depardieu, who plays World Cup creator Jules Rimet in the film, pressured 2014 festival organisers to rethink. They agreed to show it in the open air on a beach, which was enough for producers to attach the prestigious Cannes palm-leaf logo and the words "official selection, festival de Cannes" to trailers and posters. "Gerard Depardieu was very insistent. He really wanted us to show it," said Fremaux. "I'm not saying we did it to keep him happy, but let's say that he insisted a lot." Fremaux attended the beach showing with Fifa president Sepp Blatter and Depardieu at last year's festival. Fifa did not pay Cannes to show the movie, Fremaux said. The movie bombed on its release this month in the United States, taking only about US$900 (Dh3,300) in an opening weekend at 10 theatres. In France, it went straight to DVD and was released in only a handful of countries. According to box-office data firm Rentrak, it made only $178,639 in theatres before opening in the US, most of that in Russia. Fifa largely bankrolled the $30-million movie about soccer's governing body, the growth of the World Cup and Blatter's rise to power as Fifa president. Played by Reservoir Dogs star Tim Roth, Blatter is portrayed sympathetically in the movie as a hard worker who toiled to make Fifa financially successful and spoke out against corruption. In real life, Fifa is embroiled in anti-corruption investigations and Blatter is on his way out, with his 17-year presidency widely criticised. Critics savaged the film: "Pure cinematic excrement" wrote the London's Guardian. "Cringe-worthy, self-aggrandising" said the Hollywood Reporter." – AP

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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Sting & Shaggy

44/876

(Interscope)

2020 Oscars winners: in numbers
  • Parasite – 4
  • 1917– 3
  • Ford v Ferrari – 2
  • Joker – 2
  • Once Upon a Time ... in Hollywood – 2
  • American Factory – 1
  • Bombshell – 1
  • Hair Love – 1
  • Jojo Rabbit – 1
  • Judy – 1
  • Little Women – 1
  • Learning to Skateboard in a Warzone (If You're a Girl) – 1
  • Marriage Story – 1
  • Rocketman – 1
  • The Neighbors' Window – 1
  • Toy Story 4 – 1
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German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

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)

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Key products and UAE prices

iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229

iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649

iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179

Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.

Tightening the screw on rogue recruiters

The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.

 Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.

A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.

The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.

The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.

Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.

Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment

But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.

UAE v Ireland

1st ODI, UAE win by 6 wickets

2nd ODI, January 12

3rd ODI, January 14

4th ODI, January 16

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

Match info

Champions League quarter-final, first leg

Liverpool v Porto, Tuesday, 11pm (UAE)

Matches can be watched on BeIN Sports

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.”

Uefa Nations League: How it works

The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.

The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.

Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.