Tom Hanks looks nervous as he twiddles a piece of paper between his fingers. Suddenly he puts the rolled paper to his mouth and barks: "Got a light?"
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It's obviously a joke but it's also slightly unsettling. Although Hanks is liked and respected in Hollywood, seen as the ultimate nice guy in what can be a nasty town, there is a definite sarcastic edge that he fails to hide entirely.
"I think most of my nice-guy label comes from the fact that I don't mind talking to you," he says, in typical Hanks fashion. Then he laughs to make it clear he means no offence. And he admits: "Not everybody likes me. Dig a little deeper and you'll find people who don't. In my younger days I probably wanted everybody to like me but that's not necessary now. I am who I am and I think I'm a pretty decent guy." At 55, Hanks is one of the most successful and wealthiest actors and producers in the world, winning two Oscars -for Philadelphia and Forrest Gump - three further nominations - for Big, Saving Private Ryan and Castaway - several Emmys and recognition for so much more. He is also the youngest person ever to have received the American Film Institute's Lifetime Achievement award. As he puts it: "My financial security is taken care of."
The actor's situation is the polar opposite of the subject of his latest project, a labour of love called Larry Crowne, which opens in the UAE on Thursday. He co-wrote, directed, produced and starred in the project with his longtime friend Julia Roberts.
It is also a timely tale, considering the economic climate in the US. Hanks plays Larry, an amiable and loyal box company worker who finds himself downsized. Out of work and struggling with the financial toll from a divorce and a large mortgage, he enrols at his local community college. There he reinvents himself and becomes involved with his public-speaking teacher, played by Roberts.
Like the character Larry Crowne, Hanks rides a motor scooter around Los Angeles, where he has lived for 35 years. Unlike Crowne, he is still married - albeit for the second time - and has been since 1988 to the actress Rita Wilson.
"People say 'Geez, it must be hard to stay married in show business'," he says. "I think it's hard to stay married absolutely anywhere, but if you marry the right person, it might work out. We give each other a natural sense of support for whatever the other wants to pursue."
Larry Crowne is a story that had been germinating in Hanks's mind for many years: throughout his acting career he continued to make notes and build mental scenes as he reflected upon the emotional toll of unemployment and the idea of what would happen to a man who starts over at a point in his life that many would find unthinkable.
He has incorporated into the story the struggle with poverty and financial setbacks he experienced as an actor in his early twenties. "There was a period of time in Los Angeles when I wondered if I was just going to lose everything," he says. "My TV show had been cancelled; nothing else had gone anywhere; some alliances I had made petered out and nothing came of them and I was looking at a long, long year ahead of me in which there was no work on the horizon, the phone wasn't ringing, I had two kids, one of them a brand-new baby, and I didn't know if I would be able to keep my house."
He persevered and gradually climbed back up the ladder to success, although he received little encouragement from his father.
"My dad was in the restaurant business and he could not fathom why I didn't want to become the assistant manager of the Jack in the Box down the street," he says. "He said: 'Any knothead could be assistant manager in six months.' I said: 'Thanks for the praise.'"
Pursing his dream of performing on Broadway, he moved to New York, instead snagging a role in the low-budget horror film He Knows You're Alone. At the same time he landed the co-starring spot in the short-lived cult television comedy Bosom Buddies. A guest appearance in an episode of Happy Days led to Ron Howard casting him as the male lead in Splash opposite Daryl Hannah. He has had enough big roles - 1988's Big, 1993's Sleepless in Seattle and Philadelphia, 1994's Forrest Gump, followed by his portrayal of the real-life astronaut Jim Lovell in 1995's Apollo 13 - that he survived a run of so-so comedies including Turner & Hooch and Joe Versus the Volcano. He has acted less in recent years - aside from The Da Vinci Code, Angels & Demons and Charlie Wilson's War, as well as his Toy Story voice-over work - and instead favoured producing television series and films.
For a while, Hanks felt a nagging urge to return to the stage. He once talked to Sam Mendes, who directed him in The Road to Perdition, about appearing in a play in London's West End, but ultimately decided against it.
"I would have done it in a minute, but the problem is life gets in the way," he says. "The idea of going off and doing a protracted stage show somewhere else is tempting - but I can't do it. There's only so much time in the year."
He has spent the best part of the past three years working on bringing Larry Crowne to the screen, the first film he has written and directed since That Thing You Do! 15 years ago.
He is, he thinks, much more patient now than he was the last time he tried his hand at directing.
"When I did That Thing You Do! I was so pent up with trying to capture the image of it that I probably gave up on some things I shouldn't have given up on and rushed through some things, but now I am much calmer because at the beginning of the day I say: 'We are going to take our time. I am going to have the patience to get what I truly want today.'" Age might have something to do with Hanks's attitude this time around. Unlike many of his Hollywood contemporaries, he makes no attempt to hold back the clock.
"I like getting older," he says. "You can't stop it and you can't put it off. I've never felt more than 27. I've never looked back and yearned for the magnificent old days where I looked better or felt different. I'm content with what's happening. I embrace every birthday that comes along and I get to have more interesting challenges thrown in front of me." Those who have worked with Hanks have only good things to say about him, which could be because he picks his associates and employees carefully and treats them courteously and with respect - something he clearly expects in return.
"Look, in this life there is no substitute for absolute honesty in the way you govern yourself and in those you make alliances with. There are people out there who lie very easily and don't think anything about it. They say, 'Well, this is all part of living, man, you have to accept the lie.' But I refuse to accept that. If you lie to me, you're going to be in big trouble.
"I think by and large I'm a good-natured man and I give everybody a fair shake, but if someone takes advantage of that good nature, then they're going to suffer my wrath."
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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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.
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.”
Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
The biogs
Name: Zinah Madi
Occupation: Co-founder of Dots and links
Nationality: Syrian
Family: Married, Mother of Tala, 18, Sharif, 14, Kareem, 2
Favourite Quote: “There is only one way to succeed in anything, and that is to give it everything.”
Name: Razan Nabulsi
Occupation: Co-founder of Dots and Links
Nationality: Jordanian
Family: Married, Mother of Yahya, 3.5
Favourite Quote: A Chinese proverb that says: “Be not afraid of moving slowly, be afraid only of standing still.”
UAE gold medallists:
Omar Al Suweidi (46kg), Khaled Al Shehhi (50kg), Khalifa Humaid Al Kaabi (60kg), Omar Al Fadhli (62kg), Mohammed Ali Al Suweidi (66kg), Omar Ahmed Al Hosani (73), all in the U18’s, and Khalid Eskandar Al Blooshi (56kg) in the U21s.
More from Rashmee Roshan Lall
Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
CHATGPT%20ENTERPRISE%20FEATURES
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