Actress Shilpa Shetty is a serial angel investor in the direct-to-consumer space. Reem Mohammed / The National
Actress Shilpa Shetty is a serial angel investor in the direct-to-consumer space. Reem Mohammed / The National
Actress Shilpa Shetty is a serial angel investor in the direct-to-consumer space. Reem Mohammed / The National
Actress Shilpa Shetty is a serial angel investor in the direct-to-consumer space. Reem Mohammed / The National

Celebrity Net Worth: Shilpa Shetty makes 674% profit on cosmetics IPO


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Shilpa Shetty

Bollywood actor and businesswoman Shilpa Shetty has made a return of 7.74 times on her investment in Honasa Consumer after the Indian company’s recent initial public offering.

Shetty sold about 1.39 million shares for 393 million Indian rupees ($4.7 million) at the upper price limit last month.

She first bought shares in the start-up in 2018, according to its red herring prospectus, paying 41.86 rupees a share. That is a profit of about 674 per cent.

Shetty still owns 230,000 shares in the company, valued at around 74.6 million rupees, according to The Economic Times newspaper.

Last Tuesday, she posted a note of congratulations to founders Varun Alagh and Ghazal Alagh on X, formerly known as Twitter.

Honasa is the company behind digital-first beauty brand Mamaearth, one of India’s largest in terms of revenue.

Shetty, 48, had a net worth of about $18 million before the sale, according to The Times of India.

Shetty has been a Bollywood actor for 30 years since her acting debut opposite Shah Rukh Khan in the 1993 thriller Baazigar. She has since appeared in nearly 50 Hindi, Telugu, Kannada and Tamil films.

She shot to international fame in 2008 after winning the UK’s Celebrity Big Brother reality series.

She returned to acting in 2021 after a hiatus with the Hindi film Hungama 2. She has also appeared and judged on several television competitions.

However, it is income earned outside entertainment that accounts for a significant portion of her net worth. She is a serial angel investor in the direct-to-consumer space.

In May, she put 22.5 million rupees into 100Percent Nourishment. The start-up retails a line of what it calls healthy but indulgent food products under the brand name WickedGud.

Previous investments include undisclosed amounts in other Indian direct-to-consumer start-ups.

As part of a $22 million series C funding round last year, she invested an undisclosed amount in Fullife Healthcare, which sells hydration drinks and energy gels, as well as wellness and nutrition supplements under the brands Fast&Up and Chicnutrix, respectively.

With her husband, businessman Raj Kundra, she was an investor in Indian Premier League cricket team Rajasthan Royals between 2009 and 2015. They held an 11.7 per cent stake.

The couple also own properties in Mumbai and the UK. Their home in Surrey, in the UK, cost £5 million ($6.1 million) when they bought it in 2009, according to India Today magazine.

Julia Roberts, 56, has a net worth of about $250 million, according to Celebrity Net Worth. AP
Julia Roberts, 56, has a net worth of about $250 million, according to Celebrity Net Worth. AP

Julia Roberts

Being world famous can help sell property quickly. At least, that seems to be the case for actor Julia Roberts, whose San Francisco home sold for $11.25 million last month, after only two weeks on the market.

The 1912 property went for about $500,000 less than the asking price, according to real estate publication Mansion Global.

Nevertheless, the Oscar winner made a 36 per cent profit, or about $3 million on the sale. She bought the Presidio Heights residence in February 2020 for $8.3 million.

Roberts, 56, has a net worth of about $250 million, according to wealth tracking website Celebrity Net Worth.

She is one of the highest-paid stars in Hollywood. For her early roles, in 1988’s Mystic Pizza and 1990’s Pretty Woman, she earned $50,000 and $300,000, respectively.

That ballooned to $20 million for Erin Brockovich (2000) and $25 million for Mona Lisa Smile (2003).

In 2016, she earned $3 million for just three days’ work on Mother’s Day, according to Celebrity Net Worth.

Julia Roberts's style evolution - in pictures

  • Julia Roberts, in a black dress and satin wrap, attends the 24th annual People's Choice Awards in Los Angeles, California, on January 11, 1998. Getty Images
    Julia Roberts, in a black dress and satin wrap, attends the 24th annual People's Choice Awards in Los Angeles, California, on January 11, 1998. Getty Images
  • Rupert Everett and Julia Roberts, in a chocolate suit, attend the 4th annual Blockbuster Awards in Hollywood, California, on March 10, 1998. Getty Images
    Rupert Everett and Julia Roberts, in a chocolate suit, attend the 4th annual Blockbuster Awards in Hollywood, California, on March 10, 1998. Getty Images
  • Julia Roberts, in a pink strapless dress, and Benjamin Bratt attend the premiere of 'Stepmom' in New York, US, on December 15, 1998. Getty Images
    Julia Roberts, in a pink strapless dress, and Benjamin Bratt attend the premiere of 'Stepmom' in New York, US, on December 15, 1998. Getty Images
  • Julia Roberts, in a classic LBD, and Benjamin Bratt attend the 'Notting Hill' premiere at the Zeigfeld Theatre in New York, US, on May 13, 1999. Getty Images
    Julia Roberts, in a classic LBD, and Benjamin Bratt attend the 'Notting Hill' premiere at the Zeigfeld Theatre in New York, US, on May 13, 1999. Getty Images
  • Julia Roberts, in a pink and black dress with matching wrap, and Benjamin Bratt arrive at the premiere of 'Runaway Bride' in Westwood, California, on July 25, 1999. Getty Images
    Julia Roberts, in a pink and black dress with matching wrap, and Benjamin Bratt arrive at the premiere of 'Runaway Bride' in Westwood, California, on July 25, 1999. Getty Images
  • Julia Roberts, in sequinned trousers, and Benjamin Bratt attend the premiere of 'Erin Brockovich' in Westwood, California, on March 14, 2000. Getty Images
    Julia Roberts, in sequinned trousers, and Benjamin Bratt attend the premiere of 'Erin Brockovich' in Westwood, California, on March 14, 2000. Getty Images
  • Julia Roberts, in a printed midi dress, and Benjamin Bratt attend the premiere of 'Red Planet' at the Village Theatre in Los Angeles, California, on November 6, 2000. Getty Images
    Julia Roberts, in a printed midi dress, and Benjamin Bratt attend the premiere of 'Red Planet' at the Village Theatre in Los Angeles, California, on November 6, 2000. Getty Images
  • Julia Roberts, in a pink leather shirt, arrives at the Los Angeles Film Critics 26th annual Achievement Awards on January 17, 2001 in West Hollywood, California. Getty Images
    Julia Roberts, in a pink leather shirt, arrives at the Los Angeles Film Critics 26th annual Achievement Awards on January 17, 2001 in West Hollywood, California. Getty Images
  • Julia Roberts, in croc-embossed leather trousers, attends the premiere of 'The Mexican' on February 23, 2001 in Westwood, California. Getty Images
    Julia Roberts, in croc-embossed leather trousers, attends the premiere of 'The Mexican' on February 23, 2001 in Westwood, California. Getty Images
  • Julia Roberts, in brown suede, and Benjamin Bratt, attend the 7th annual Screen Actors Guild Awards on March 11, 2001 at the Shrine Auditorium in Los Angeles, California. Getty Images
    Julia Roberts, in brown suede, and Benjamin Bratt, attend the 7th annual Screen Actors Guild Awards on March 11, 2001 at the Shrine Auditorium in Los Angeles, California. Getty Images
  • Julia Roberts, in Valentino, attends the 73rd annual Academy Awards at the Shrine Auditorium in Los Angeles, California, on March 25, 2001. Getty Images
    Julia Roberts, in Valentino, attends the 73rd annual Academy Awards at the Shrine Auditorium in Los Angeles, California, on March 25, 2001. Getty Images
  • Julia Roberts, in a split-front LBD, attends the 74th annual Academy Awards in Hollywood, California, on March 24, 2002. Reuters
    Julia Roberts, in a split-front LBD, attends the 74th annual Academy Awards in Hollywood, California, on March 24, 2002. Reuters
  • Julia Roberts, in a black textured coat, arrives at the premiere of 'Mona Lisa Smile' at the Ziegfeld Theatre on December 10, 2003 in New York, US. Getty Images
    Julia Roberts, in a black textured coat, arrives at the premiere of 'Mona Lisa Smile' at the Ziegfeld Theatre on December 10, 2003 in New York, US. Getty Images
  • Julia Roberts, in Armani, arrives at the 76th annual Academy Awards at the Kodak Theatre in Hollywood, California, on February 29, 2004. Reuters
    Julia Roberts, in Armani, arrives at the 76th annual Academy Awards at the Kodak Theatre in Hollywood, California, on February 29, 2004. Reuters
  • Julia Roberts, in a baby-blue cardigan, attends a benefit event for the Association of Hole in the Wall Camps at Avery Fisher Hall Lincoln Centre on April 21, 2005 in New York, US. Getty Images
    Julia Roberts, in a baby-blue cardigan, attends a benefit event for the Association of Hole in the Wall Camps at Avery Fisher Hall Lincoln Centre on April 21, 2005 in New York, US. Getty Images
  • Julia Roberts, in a buttoned coat and shades, arrives at the premiere of 'Charlotte's Web' at the ArcLight Theatre on December 10, 2006 in Los Angeles, California. Getty Images
    Julia Roberts, in a buttoned coat and shades, arrives at the premiere of 'Charlotte's Web' at the ArcLight Theatre on December 10, 2006 in Los Angeles, California. Getty Images
  • Julia Roberts, in Diane von Furstenberg, arrives at the 22nd annual American Cinematheque Awards at the Beverly Hilton Hotel on October 12, 2007 in Beverly Hills, California. Getty Images
    Julia Roberts, in Diane von Furstenberg, arrives at the 22nd annual American Cinematheque Awards at the Beverly Hilton Hotel on October 12, 2007 in Beverly Hills, California. Getty Images
  • Julia Roberts, in Armani, and Giorgio Armani attend the Metropolitan Museum of Art Costume Institute Gala in New York, US, on May 5, 2008. Reuters
    Julia Roberts, in Armani, and Giorgio Armani attend the Metropolitan Museum of Art Costume Institute Gala in New York, US, on May 5, 2008. Reuters
  • Julia Roberts, in a timeless suit, and Clive Owen arrive for the premiere of 'Duplicity' at the Empire Cinema on March 10, 2009 in London, England. Getty Images
    Julia Roberts, in a timeless suit, and Clive Owen arrive for the premiere of 'Duplicity' at the Empire Cinema on March 10, 2009 in London, England. Getty Images
  • Clive Owen and Julia Roberts, in Lanvin, attend the 'Duplicity' premiere on March 12, 2009 in Paris, France. Getty Images
    Clive Owen and Julia Roberts, in Lanvin, attend the 'Duplicity' premiere on March 12, 2009 in Paris, France. Getty Images
  • Julia Roberts, in Dries Van Noten, attends an 'Eat, Pray, Love' press conference at The Ritz-Carlton Tokyo on August 18, 2010 in Tokyo, Japan. Getty Images
    Julia Roberts, in Dries Van Noten, attends an 'Eat, Pray, Love' press conference at The Ritz-Carlton Tokyo on August 18, 2010 in Tokyo, Japan. Getty Images
  • Javier Bardem and Julia Roberts, in Dolce & Gabbana, attend the 'Eat, Pray, Love' premiere at The Space Moderno Cinema on September 16, 2010 in Rome, Italy. Getty Images
    Javier Bardem and Julia Roberts, in Dolce & Gabbana, attend the 'Eat, Pray, Love' premiere at The Space Moderno Cinema on September 16, 2010 in Rome, Italy. Getty Images
  • Julia Roberts, in Lanvin, attends the premiere for 'Eat, Pray, Love' on September 19, 2010 in Paris, France. Getty Images
    Julia Roberts, in Lanvin, attends the premiere for 'Eat, Pray, Love' on September 19, 2010 in Paris, France. Getty Images
  • Julia Roberts, in Stella McCartney, arrives for the premiere of 'Eat, Pray, Love' at the Empire Leicester Square in London, England, on September 22, 2010. EPA
    Julia Roberts, in Stella McCartney, arrives for the premiere of 'Eat, Pray, Love' at the Empire Leicester Square in London, England, on September 22, 2010. EPA
  • Julia Roberts, in a classic trench coat, and her sister, Lisa Gillan, attend the premiere of 'Jesus Henry Christ' during the Tribeca Film Festival in New York, US, on April 23, 2011. EPA
    Julia Roberts, in a classic trench coat, and her sister, Lisa Gillan, attend the premiere of 'Jesus Henry Christ' during the Tribeca Film Festival in New York, US, on April 23, 2011. EPA
  • Julia Roberts, in Gucci, arrives for the premiere of 'Larry Crown' at the Grauman's Chinese Theatre in Los Angeles, California, on June 27, 2011. EPA
    Julia Roberts, in Gucci, arrives for the premiere of 'Larry Crown' at the Grauman's Chinese Theatre in Los Angeles, California, on June 27, 2011. EPA
  • Julia Roberts, in a three-piece suit and contrasting shirt, and Tarsem Singh arrive for the premiere of 'Mirror Mirror' at Grauman's Chinese Theatre in Hollywood, California, on March 17, 2012. AFP
    Julia Roberts, in a three-piece suit and contrasting shirt, and Tarsem Singh arrive for the premiere of 'Mirror Mirror' at Grauman's Chinese Theatre in Hollywood, California, on March 17, 2012. AFP
  • Julia Roberts, in Dolce & Gabbana, arrives for the screening of 'August: Osage County' during the 38th annual Toronto Film Festival in Toronto, Canada, on September 9, 2013. EPA
    Julia Roberts, in Dolce & Gabbana, arrives for the screening of 'August: Osage County' during the 38th annual Toronto Film Festival in Toronto, Canada, on September 9, 2013. EPA
  • Julia Roberts, in Gucci, arrives for the 25th Palm Springs International Film Festival Awards Gala in Palm Springs, California, on January 4, 2014. EPA
    Julia Roberts, in Gucci, arrives for the 25th Palm Springs International Film Festival Awards Gala in Palm Springs, California, on January 4, 2014. EPA
  • Julia Roberts, in Dolce & Gabbana, arrives for the 71st annual Golden Globe Awards at the Beverly Hilton in Beverly Hills, California, on January 12, 2014. EPA
    Julia Roberts, in Dolce & Gabbana, arrives for the 71st annual Golden Globe Awards at the Beverly Hilton in Beverly Hills, California, on January 12, 2014. EPA
  • Julia Roberts, in Juan Carlos Obando, arrives for the 19th annual Critics' Choice Awards in Santa Monica, California, on January 16, 2014. EPA
    Julia Roberts, in Juan Carlos Obando, arrives for the 19th annual Critics' Choice Awards in Santa Monica, California, on January 16, 2014. EPA
  • Julia Roberts, in Valentino, arrives for the 20th annual Screen Actors Guild Awards at the Shrine Auditorium in Los Angeles, California, on January 18, 2014. EPA
    Julia Roberts, in Valentino, arrives for the 20th annual Screen Actors Guild Awards at the Shrine Auditorium in Los Angeles, California, on January 18, 2014. EPA
  • Julia Roberts, in Givenchy, arrives for the 86th annual Academy Awards at the Dolby Theatre in Hollywood, California, on March 2, 2014. EPA
    Julia Roberts, in Givenchy, arrives for the 86th annual Academy Awards at the Dolby Theatre in Hollywood, California, on March 2, 2014. EPA
  • Julia Roberts, in Elie Saab, arrives for the 66th annual Primetime Emmy Awards at the Nokia Theatre in Los Angeles, California, on August 25, 2014. EPA
    Julia Roberts, in Elie Saab, arrives for the 66th annual Primetime Emmy Awards at the Nokia Theatre in Los Angeles, California, on August 25, 2014. EPA
  • Julia Roberts, in Givenchy, arrives at the 21st annual Screen Actors Guild Awards at the Shrine Auditorium in Los Angeles, California, on January 25, 2015. EPA
    Julia Roberts, in Givenchy, arrives at the 21st annual Screen Actors Guild Awards at the Shrine Auditorium in Los Angeles, California, on January 25, 2015. EPA
  • George Clooney and Julia Roberts, in Givenchy, attend the 'Money Monster' photocall during the 69th annual Cannes Film Festival at the Palais des Festivals on May 12, 2016 in Cannes, France. Getty Images
    George Clooney and Julia Roberts, in Givenchy, attend the 'Money Monster' photocall during the 69th annual Cannes Film Festival at the Palais des Festivals on May 12, 2016 in Cannes, France. Getty Images
  • Julia Roberts, in Armani, attends the 'Money Monster' premiere during the 69th annual Cannes Film Festival at the Palais des Festivals on May 12, 2016 in Cannes, France. Getty Images
    Julia Roberts, in Armani, attends the 'Money Monster' premiere during the 69th annual Cannes Film Festival at the Palais des Festivals on May 12, 2016 in Cannes, France. Getty Images
  • Julia Roberts, in Givenchy, attends the amfAR Gala at Ron Burkle's Green Acres Estate on October 13, 2017 in Beverly Hills, California. AFP
    Julia Roberts, in Givenchy, attends the amfAR Gala at Ron Burkle's Green Acres Estate on October 13, 2017 in Beverly Hills, California. AFP
  • Julia Roberts, in Givenchy, arrives for the screening of 'Homecoming' during the 43rd annual Toronto International Film Festival in Toronto, Canada, on September 7, 2018. EPA
    Julia Roberts, in Givenchy, arrives for the screening of 'Homecoming' during the 43rd annual Toronto International Film Festival in Toronto, Canada, on September 7, 2018. EPA
  • Julia Roberts, in Stella McCartney, arrives for the 76th annual Golden Globe Awards at the Beverly Hilton Hotel in Beverly Hills, California, on January 6, 2019. EPA
    Julia Roberts, in Stella McCartney, arrives for the 76th annual Golden Globe Awards at the Beverly Hilton Hotel in Beverly Hills, California, on January 6, 2019. EPA
  • Rita Wilson and Julia Roberts, in Salvatore Ferragamo, pose on the Hollywood Walk of Fame in Hollywood, California, on March 29, 2019. EPA
    Rita Wilson and Julia Roberts, in Salvatore Ferragamo, pose on the Hollywood Walk of Fame in Hollywood, California, on March 29, 2019. EPA
  • Julia Roberts, in Armani, and Giorgio Armani arrive for The Fashion Awards at the Royal Albert Hall in London, England, on December 2, 2019. EPA
    Julia Roberts, in Armani, and Giorgio Armani arrive for The Fashion Awards at the Royal Albert Hall in London, England, on December 2, 2019. EPA
  • Julia Roberts, in Dior, and Daniel Moder attend the Core Gala at Wiltern Theatre on January 15, 2020 in Los Angeles, California. Getty Images
    Julia Roberts, in Dior, and Daniel Moder attend the Core Gala at Wiltern Theatre on January 15, 2020 in Los Angeles, California. Getty Images

Her movies have brought in more than $4 billion at the worldwide box-office, according to movie website The Numbers.

With her sister, Lisa Roberts Gillan and Marisa Yeres Gill, Roberts owns production company Red Om Films.

A separate income stream has been endorsements. Notable deals include a $6 million payment to appear in advertisements for Gianfranco Ferre, and a five-year, $50 million contract as the global brand ambassador for cosmetics brand Lancome Paris. That contract has been renewed several times.

Roberts has an extensive property portfolio, with homes in Malibu, Manhattan, Los Angeles and Taco, New Mexico. She has also bought and sold houses in California and Hawaii, according to Celebrity Net Worth.

Kate Hudson 44, has a net worth of $80 million, according to Celebrity Net Worth. Getty Images
Kate Hudson 44, has a net worth of $80 million, according to Celebrity Net Worth. Getty Images

Kate Hudson

There is money in microbes and it is not fool's gold. Actor and entrepreneur Kate Hudson will promote the benefits of the microbiome in human health in her new role as creative adviser for wellness brand Symbiome.

Hudson has spoken of the brand’s benefits before. Now, she joins the company as it develops microbiome products in consumer units ranging from skincare to gut and oral health.

“I am proud and excited to join the brilliant and dedicated Symbiome team on their mission to improve health from the outside in,” Hudson said.

“I look forward to a future where the products that we love also nourish our microbiome, enhancing our beauty and our health.”

Symbiome is owned by Weiss Bioscience, a San Francisco-based biotechnology company.

Hudson, 44, has a net worth of $80 million, according to Celebrity Net Worth.

She has acted in a string of top-grossing movies since her 2001 breakthrough, Almost Famous. Among them are You, Me and Dupree, How to Lose a Guy in 10 Days and Bride Wars, which she co-produced.

Hudson has fronted the subscription athleisure company Fabletics, which she co-founded with Adam Goldenberg and Don Ressler, creators of the membership fashion retailer TechStyle.

Started as an e-commerce label to address a gap in the market for stylish activewear at accessible prices, the brand crossed $500 million in sales in 2020.

Hudson stepped down as the brand’s principal face the following year, transitioning to an advisory role.

The actor’s stake in Fabletics has previously been reported at 20 per cent, according to Forbes magazine.

She has also launched other companies, including a line of plant-based holistic nutritional supplements, InBloom, a beverage brand, King St, and a line of partly recycled clothing, Happy x Nature.

German-Russian DJ Anton Zaslavski, better known as Zedd, has a net worth of $50 million, according to Celebrity Net Worth. Instagram / Zuhair Murad Official
German-Russian DJ Anton Zaslavski, better known as Zedd, has a net worth of $50 million, according to Celebrity Net Worth. Instagram / Zuhair Murad Official

Anton Zaslavski

German-Russian DJ Zedd has invested in refined carbohydrate company BetterBrand shortly after the company closed a series A funding round at a pre-money valuation of $170 million.

Zedd, whose real name is Anton Zaslavski, invested an undisclosed amount.

“Health & Wellness is an ever-evolving passion of mine and through that journey I discovered ‘The Better Bagel’,” the Grammy winner said.

“It’s a product I stand by and has been a game-changer as part of my high protein, low-calorie diet.”

The consumer food tech company aims to turn traditional carbs into healthier baked goods.

Its main product, the Better Bagel, claims to deliver the net carb equivalent of two banana slices with 250 per cent more protein, 90 per cent fewer carbs and no added sugar.

Zaslavski, 34, has a net worth of $50 million, according to Celebrity Net Worth.

As a DJ and producer, Zaslavski has repeatedly clocked more than a billion streams for his work.

He has invested in or collaborated with brands, including HyperX, the HP gaming brand, and Swedish ice cream company N!ck’s.

He has also invested in homes in California, according to Celebrity Net Worth.

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Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

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The specs: 2017 Maserati Quattroporte

Price, base / as tested Dh389,000 / Dh559,000

Engine 3.0L twin-turbo V8

Transmission Eight-speed automatic

Power 530hp @ 6,800rpm

Torque 650Nm @ 2,000 rpm

Fuel economy, combined 10.7L / 100km

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

INDIA SQUAD

Virat Kohli (capt), Rohit Sharma, Shikhar Dhawan, KL Rahul, Vijay Shankar, MS Dhoni (wk), Kedar Jadhav, Dinesh Karthik, Yuzvendra Chahal, Kuldeep Yadav, Bhuvneshwar Kumar, Jasprit Bumrah, Hardik Pandya, Ravindra Jadeja, Mohammed Shami

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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RESULTS

6pm: Mazrat Al Ruwayah – Group 2 (PA) $40,000 (Dirt) 1,600m
Winner: AF Alajaj, Tadhg O’Shea (jockey), Ernst Oertel (trainer)

6.35pm: Race of Future – Handicap (TB) $80,000 (Turf) 2,410m
Winner: Global Storm, William Buick, Charlie Appleby

7.10pm: UAE 2000 Guineas – Group 3 (TB) $150,000 (D) 1,600m
Winner: Azure Coast, Antonio Fresu, Pavel Vashchenko

7.45pm: Business Bay Challenge – Listed (TB) $100,000 (T) 1,400m
Winner: Storm Damage, Patrick Cosgrave, Saeed bin Suroor

20.20pm: Curlin Stakes – Listed (TB) $100,000 (D) 2,000m
Winner: Appreciated, Fernando Jara, Doug O’Neill

8.55pm: Singspiel Stakes – Group 2 (TB) $180,000 (T) 1,800m
Winner: Lord Glitters, Daniel Tudhope, David O'Meara

9.30pm: Al Shindagha Sprint – Group 3 (TB) $150,000 (D) 1,200m
Winner: Meraas, Antonio Fresu, Musabah Al Muhairi

Small Victories: The True Story of Faith No More by Adrian Harte
Jawbone Press

The specs: 2018 Genesis G70

Price, base / as tested: Dh155,000 / Dh205,000

Engine: 3.3-litre, turbocharged V6

Gearbox: Eight-speed automatic

Power: 370hp @ 6,000rpm

Torque: 510Nm @ 1,300rpm

Fuel economy, combined: 10.6L / 100km

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

UAE currency: the story behind the money in your pockets
Who has been sanctioned?

Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.

Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.

Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.

Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
The Details

Kabir Singh

Produced by: Cinestaan Studios, T-Series

Directed by: Sandeep Reddy Vanga

Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa

Rating: 2.5/5 

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
TOUR DE FRANCE INFO

Dates: July 1-23
Distance: 3,540km
Stages: 21
Number of teams: 22
Number of riders: 198

Tips%20for%20travelling%20while%20needing%20dialysis
%3Cul%3E%0A%3Cli%3EInform%20your%20doctor%20about%20your%20plans.%C2%A0%3C%2Fli%3E%0A%3Cli%3EAsk%20about%20your%20treatment%20so%20you%20know%20how%20it%20works.%C2%A0%3C%2Fli%3E%0A%3Cli%3EPay%20attention%20to%20your%20health%20if%20you%20travel%20to%20a%20hot%20destination.%C2%A0%3C%2Fli%3E%0A%3Cli%3EPlan%20your%20trip%20well.%C2%A0%3C%2Fli%3E%0A%3C%2Ful%3E%0A

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.”

Who are the Soroptimists?

The first Soroptimists club was founded in Oakland, California in 1921. The name comes from the Latin word soror which means sister, combined with optima, meaning the best.

The organisation said its name is best interpreted as ‘the best for women’.

Since then the group has grown exponentially around the world and is officially affiliated with the United Nations. The organisation also counts Queen Mathilde of Belgium among its ranks.

UAE currency: the story behind the money in your pockets
Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

The specs

Engine: Turbocharged four-cylinder 2.7-litre

Power: 325hp

Torque: 500Nm

Transmission: 10-speed automatic

Price: From Dh189,700

On sale: now

RESULTS
%3Cp%3E%0D%3Cstrong%3E5pm%3A%20%3C%2Fstrong%3EWathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(Turf)%202%2C200m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%20%3C%2Fstrong%3EAl%20Hazeez%2C%20Saif%20Al%20Balushi%20(jockey)%2C%20Khalifa%20Al%20Neyadi%20(trainer)%0D%3Cbr%3E%3Cstrong%3E5.30pm%3A%20%3C%2Fstrong%3EShams%20Gate%20Tower%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(T)%201%2C200m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20ES%20Sudani%2C%20Antonio%20Fresu%2C%20Hamad%20Al%20Marar%0D%3Cbr%3E%3Cstrong%3E6pm%3A%3C%2Fstrong%3E%20Al%20Bahr%20Towers%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C200m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20AF%20Musannef%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%0D%3Cbr%3E%3Cstrong%3E6.30pm%3A%3C%2Fstrong%3E%20Capital%20Gate%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Shugga'A%20Baynounah%2C%20Dane%20O%E2%80%99Neill%2C%20Nisren%20Mahgoub%0D%3Cbr%3E%3Cstrong%3E7pm%3A%20%3C%2Fstrong%3EEtihad%20Towers%20%E2%80%93%20Conditions%20(PA)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%20%3C%2Fstrong%3EAF%20Maqam%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%0D%3Cbr%3E%3Cstrong%3E7.30pm%3A%3C%2Fstrong%3E%20Fairmont%20Marina%20%E2%80%93%20Maiden%20(TB)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%20%3C%2Fstrong%3ETempesta%20D'Oro%2C%20Xavier%20Ziani%2C%20Salem%20bin%20Ghadayer%3C%2Fp%3E%0A
Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

Updated: November 13, 2023, 5:00 AM