The US markets could experience a decline in the early hours of trading on Monday. However, they are expected to rebound and reach new record highs once it is confirmed that former US President Donald Trump is in good health and remains a candidate for the presidency, an analyst has said.
Trump was shot through the ear at a rally in Pennsylvania on Saturday in an assassination attempt that sent shock waves through America.
“Nasdaq already broke 35 new records since the beginning of the year and S&P above 25 new record highs …. so I would not be surprised to see some sell off so people can book some profits initially taking advantage of this volatility," Amro Zakaria Abdu, a global financial markets strategist based in the UAE said.
“Eventually I think things will steady and if it becomes clear that Trump is okay and will continue to run and most likely will then we're going to see more record highs this year.”
Crypto
Bitcoin, the world's largest cryptocurrency, rose on Sunday following an assassination attempt. It was trading 3.84 per cent higher at $60,249.42 at 10.12am UAE time on Sunday, while Ethereum was up 2.09 per cent at $3,198.18 compared to the day before. Other cryptocurrencies including Dogecoin, Solana and Shiba Inu also gained after the incident.
Trump has positioned himself recently as the champion of cryptocurrencies and also indicated he would like to see more bitcoin mining by US firms.
“We want all the remaining Bitcoin to be MADE IN THE USA,” Reuters reported earlier this month citing Trump as saying on his Truth Social platform in June. He was also supposed to address a Bitcoin conference in the US later this month.
Bitcoin has risen because of Trump's support for cryptocurrencies, according to Vijay Valecha, chief investment officer of Dubai-based Century Financial.
“Donald Trump has made clear his support for Bitcoin mining and the self-custody of digital assets. He has indicated that if he were to be re-elected as president, his administration would refrain from using regulatory authority to crack down on the use of bitcoin and other cryptocurrencies,” Mr Valecha, said.
Gold
Gold as well as the US dollar and treasuries are also expected to benefit due to their safe haven status.
As markets reopen Monday, heightened volatility in currency markets are likely to take place in response, explained Mr Valecha.
“Increased uncertainty on the trade front is anticipated in the event of a Trump presidency due to his protectionist policies. This uncertainty could lead to investors seeking safe haven assets, with the US Dollar being a potential beneficiary.”
Gold was trading 2,411.43 per ounce when markets closed on Friday and the outlook is that it is expected to hit new highs later this year amid continued demand for the bullion.
Last month, Bank of America put out a note suggesting that gold could hit $3,000 an ounce over the next 12 to 18 months as demand continues to rise for the yellow metal.
Financial markets
Financial markets are also expected to be impacted, with the stock market forecast to experience “increased volatility in the short term as investors react to the news” of Trump's assassination attempt, Mr Valecha, said.
Among the beneficiaries could be especially those that benefit from Trump's policies including infrastructure and defence companies. Small-cap stocks, which have historically performed well under Republican administrations. are also expected to do well, he added.
Real estate stocks as well as energy stocks related to oil and gas are also expected to do well as Trump has been supportive of the growth of the sectors.
However, the clean energy sector could be impacted due to reduced investments as Trump has expressed intentions to roll back certain policies that have been favourable to green-energy and electric-vehicle companies, according to Mr Valecha.
A report by Wood Mackenzie in May said that Trump's victory in the November elections could threaten $1 trillion in energy investments and future support for low-carbon energy sources.
“While investments for technologies that support the energy transition and low carbon technology may decelerate, the opposite effect might take place for fossil fuels, which could see expanded investment and push out peak fossil fuel demand,” the report said.
Technology companies relying on global supply chains are also projected to feel the impact of Trump's trade policies and potential tariffs on foreign goods. Emerging markets that heavily depend on exports to the US could also be impacted, Mr Valecha added.
MATCH INFO
Schalke 0
Werder Bremen 1 (Bittencourt 32')
Man of the match Leonardo Bittencourt (Werder Bremen)
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
Pad Man
Dir: R Balki
Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte
Three-and-a-half stars
RESULTS
6.30pm: Maiden Dh 165,000 1,600m
Winner: Superior, Connor Beasley (jockey), Ahmad bin Harmash (trainer)
7.05pm: Handicap Dh 185,000 2,000m
Winner: Tried And True, Pat Dobbs, Doug Watson
7.40pm: Maiden Dh 165,000 1,600m
Winner: Roy Orbison, Fernando Jara, Ali Rashid Al Raihe
8.15pm
Handicap Dh 190,000 1,400m
Winner: Taamol, Dane O’Neill, Ali Rashid Al Raihe
8.50pm
Handicap Dh 175,000 1,600m
Winner: Welford, Richard Mullen, Satish Seemar
9.25pm: Handicap Dh 175,000 1,200m
Winner: Lavaspin, Richard Mullen, Satish Seemar
10pm: Handicap Dh 165,000 1,600m
Winner: Untold Secret, Xavier Ziani, Sandeep Jadhav
BACK%20TO%20ALEXANDRIA
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ETamer%20Ruggli%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENadine%20Labaki%2C%20Fanny%20Ardant%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A
AL%20BOOM
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MATCH INFO
English Premiership semi-finals
Saracens 57
Wasps 33
Exeter Chiefs 36
Newcastle Falcons 5
Drishyam 2
Directed by: Jeethu Joseph
Starring: Mohanlal, Meena, Ansiba, Murali Gopy
Rating: 4 stars
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)
Auron Mein Kahan Dum Tha
Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar
Director: Neeraj Pandey
Rating: 2.5/5
More from Neighbourhood Watch
Score
Third Test, Day 2
New Zealand 274
Pakistan 139-3 (61 ov)
Pakistan trail by 135 runs with 7 wickets remaining in the innings
Ultra processed foods
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
The Dictionary of Animal Languages
Heidi Sopinka
Scribe
The Specs
Engine 3.8-litre, twin-turbo V8
Transmission: eight-speed automatic
Power: 582bhp (542bhp in GTS model)
Torque: 730Nm
Price: Dh649,000 (Dh549,000 for GTS)
Jurassic%20Park
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RIDE%20ON
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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
Heavily-sugared soft drinks slip through the tax net
Some popular drinks with high levels of sugar and caffeine have slipped through the fizz drink tax loophole, as they are not carbonated or classed as an energy drink.
Arizona Iced Tea with lemon is one of those beverages, with one 240 millilitre serving offering up 23 grams of sugar - about six teaspoons.
A 680ml can of Arizona Iced Tea costs just Dh6.
Most sports drinks sold in supermarkets were found to contain, on average, five teaspoons of sugar in a 500ml bottle.
PROVISIONAL FIXTURE LIST
Premier League
Wednesday, June 17 (Kick-offs uae times) Aston Villa v Sheffield United 9pm; Manchester City v Arsenal 11pm
Friday, June 19 Norwich v Southampton 9pm; Tottenham v Manchester United 11pm
Saturday, June 20 Watford v Leicester 3.30pm; Brighton v Arsenal 6pm; West Ham v Wolves 8.30pm; Bournemouth v Crystal Palace 10.45pm
Sunday, June 21 Newcastle v Sheffield United 2pm; Aston Villa v Chelsea 7.30pm; Everton v Liverpool 10pm
Monday, June 22 Manchester City v Burnley 11pm (Sky)
Tuesday, June 23 Southampton v Arsenal 9pm; Tottenham v West Ham 11.15pm
Wednesday, June 24 Manchester United v Sheffield United 9pm; Newcastle v Aston Villa 9pm; Norwich v Everton 9pm; Liverpool v Crystal Palace 11.15pm
Thursday, June 25 Burnley v Watford 9pm; Leicester v Brighton 9pm; Chelsea v Manchester City 11.15pm; Wolves v Bournemouth 11.15pm
Sunday June 28 Aston Villa vs Wolves 3pm; Watford vs Southampton 7.30pm
Monday June 29 Crystal Palace vs Burnley 11pm
Tuesday June 30 Brighton vs Manchester United 9pm; Sheffield United vs Tottenham 11.15pm
Wednesday July 1 Bournemouth vs Newcastle 9pm; Everton vs Leicester 9pm; West Ham vs Chelsea 11.15pm
Thursday July 2 Arsenal vs Norwich 9pm; Manchester City vs Liverpool 11.15pm
Company%C2%A0profile
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
