• Indian students apply the finishing touches to paintings created to raise awareness of the variant in Mumbai. Reuters
    Indian students apply the finishing touches to paintings created to raise awareness of the variant in Mumbai. Reuters
  • International travellers wearing personal protective equipment arrive at Melbourne's Tullamarine Airport as Australia records its first cases of the Omicron variant. AFP
    International travellers wearing personal protective equipment arrive at Melbourne's Tullamarine Airport as Australia records its first cases of the Omicron variant. AFP
  • A greeting at the international terminal of Sydney Airport, as countries respond to the new variant. Reuters
    A greeting at the international terminal of Sydney Airport, as countries respond to the new variant. Reuters
  • A sign asking people to wear face coverings in a building in Manhattan as the newly discovered Omicron variant appears in countries around the world. AFP
    A sign asking people to wear face coverings in a building in Manhattan as the newly discovered Omicron variant appears in countries around the world. AFP
  • Tourists wave as the ‘Europa’ passenger liner arrives in South African waters off Cape Town as the new coronavirus variant Omicron spreads in other countries. Reuters
    Tourists wave as the ‘Europa’ passenger liner arrives in South African waters off Cape Town as the new coronavirus variant Omicron spreads in other countries. Reuters
  • Schiphol airport in Amsterdam. Dutch health authorities said they have found another case of the Omicron Covid-19 variant among passengers arriving from South Africa, bringing the country’s total to 14. AFP
    Schiphol airport in Amsterdam. Dutch health authorities said they have found another case of the Omicron Covid-19 variant among passengers arriving from South Africa, bringing the country’s total to 14. AFP
  • Pupils wear face masks in Beijing. Despite the global worry, scientists say it remains unclear whether the Omicron variant is more dangerous than other strains of the virus. AP
    Pupils wear face masks in Beijing. Despite the global worry, scientists say it remains unclear whether the Omicron variant is more dangerous than other strains of the virus. AP
  • People wearing face masks in Manhattan. New York's governor has declared a state of emergency due to the risk of a surge of Covid-19 cases as winter sets in. AFP
    People wearing face masks in Manhattan. New York's governor has declared a state of emergency due to the risk of a surge of Covid-19 cases as winter sets in. AFP
  • British Health Secretary Sajid Javid meets a member of staff at a vaccine centre in Guy's and St Thomas' Hospital, London. Getty Images
    British Health Secretary Sajid Javid meets a member of staff at a vaccine centre in Guy's and St Thomas' Hospital, London. Getty Images
  • A sign points the way to a Covid-19 test centre at Schiphol Airport in the Netherlands. AFP
    A sign points the way to a Covid-19 test centre at Schiphol Airport in the Netherlands. AFP
  • Narita International Airport in Japan is quiet after travel was restricted to prevent the spread of Omicron. Reuters
    Narita International Airport in Japan is quiet after travel was restricted to prevent the spread of Omicron. Reuters
  • A PCR test at O.R. Tambo International Airport in Johannesburg. AFP
    A PCR test at O.R. Tambo International Airport in Johannesburg. AFP
  • Soekarno Hatta International airport. Indonesia has banned the arrival of travellers who have recently been in eight southern African countries. Reuters
    Soekarno Hatta International airport. Indonesia has banned the arrival of travellers who have recently been in eight southern African countries. Reuters
  • Suvarnabhumi Airport in Bangkok after Thailand banned entry from eight southern African countries due to the Omicron variant. Reuters
    Suvarnabhumi Airport in Bangkok after Thailand banned entry from eight southern African countries due to the Omicron variant. Reuters
  • Travellers wear personal protective equipment outside the international terminal at Sydney Airport, Australia. Reuters
    Travellers wear personal protective equipment outside the international terminal at Sydney Airport, Australia. Reuters
  • Passengers wearing protective gear at Incheon International Airport in South Korea, where health authorities have imposed an entry ban on foreign arrivals from eight African countries, including South Africa. EPA
    Passengers wearing protective gear at Incheon International Airport in South Korea, where health authorities have imposed an entry ban on foreign arrivals from eight African countries, including South Africa. EPA
  • Ben Gurion International Airport near Tel Aviv. The Israeli government approved a 14-day ban on foreign arrivals over concerns about Omicron. EPA
    Ben Gurion International Airport near Tel Aviv. The Israeli government approved a 14-day ban on foreign arrivals over concerns about Omicron. EPA
  • Travellers queuing in the hope of boarding an overbooked Lufthansa flight at Cape Town International Airport. Antonie Robertson / The National
    Travellers queuing in the hope of boarding an overbooked Lufthansa flight at Cape Town International Airport. Antonie Robertson / The National
  • Covid-stricken Czech President Milos Zeman sits in a plastic cage as he appoints Petr Fiala as Prime Minister, near Prague. AFP
    Covid-stricken Czech President Milos Zeman sits in a plastic cage as he appoints Petr Fiala as Prime Minister, near Prague. AFP
  • Tourists checking in at Cape Town International Airport in South Africa. Antonie Robertson / The National
    Tourists checking in at Cape Town International Airport in South Africa. Antonie Robertson / The National
  • Several airlines have stopped flying out of South Africa amid the spread of the new variant, causing disruption at O.R. Tambo International Airport in Johannesburg. Reuters
    Several airlines have stopped flying out of South Africa amid the spread of the new variant, causing disruption at O.R. Tambo International Airport in Johannesburg. Reuters
  • Australian Health Minister Greg Hunt at a press conference at Parliament House in Canberra. Two cases of the recently discovered Omicron variant were detected in New South Wales. EPA
    Australian Health Minister Greg Hunt at a press conference at Parliament House in Canberra. Two cases of the recently discovered Omicron variant were detected in New South Wales. EPA
  • Passengers, many not wearing face coverings, on the London Underground. Health Secretary Sajid Javid said mandatory mask-wearing would return to shops and public transport in England but there are concerns over how the rule will be enforced. AFP
    Passengers, many not wearing face coverings, on the London Underground. Health Secretary Sajid Javid said mandatory mask-wearing would return to shops and public transport in England but there are concerns over how the rule will be enforced. AFP
  • A stroll, with face masks, in Biarritz, south-western France. French Health Minister Olivier Veran said France had no confirmed cases of the Omicron variant and was not changing its strategy of increasing vaccinations and booster shots. AP
    A stroll, with face masks, in Biarritz, south-western France. French Health Minister Olivier Veran said France had no confirmed cases of the Omicron variant and was not changing its strategy of increasing vaccinations and booster shots. AP
  • British Prime Minister Boris Johnson and Chief Medical Officer Chris Whitty during a press conference on the variant in London. Reuters
    British Prime Minister Boris Johnson and Chief Medical Officer Chris Whitty during a press conference on the variant in London. Reuters

WHO head warns Omicron could erase 'hard won gains' against Covid-19


  • English
  • Arabic

Live updates: follow the latest news on Covid-19 variant Omicron

The Omicron variant is likely to spread internationally, posing a "very high" global risk where Covid-19 surges could have "severe consequences" in some areas, the World Health Organisation (WHO) said on Monday.

The UN health agency issued technical advice urging its 194 member states to accelerate vaccination of high-priority groups and "ensure mitigation plans are in place" to maintain essential health services.

"Omicron has an unprecedented number of spike mutations, some of which are concerning for their potential impact on the trajectory of the pandemic," it said.

"The overall global risk related to the new variant of concern Omicron is assessed as very high."

Speaking at the World Health Assembly on Monday, WHO head Dr Tedros Adhanom Ghebreyesus warned that the emergence of more dangerous variants was a consequence of poor coordination in the global virus response.

"Omicron’s very emergence is another reminder that although many of us might think we are done with Covid-19, it is not done with us. We are living through a cycle of panic and neglect. Hard-won gains could vanish in an instant," he said.

"Omicron demonstrates just why the world needs a new accord on pandemics: our current system disincentivises countries from alerting others to threats that will inevitably land on their shores," he added.

An accord on coordinating a global response to the current and future pandemics is one of the key issues being discussed by participants at the World Health Assembly.

To date, no deaths linked to Omicron had been reported, though further research was needed to assess Omicron's potential to escape protection against immunity induced by vaccines and previous infections, the WHO said.

"Increasing cases, regardless of a change in severity, may pose overwhelming demands on health care systems and may lead to increased morbidity and mortality. The impact on vulnerable populations would be substantial, particularly in countries with low vaccination coverage," it said.

The variant was first reported to WHO on November 24 from South Africa, where infections have risen steeply.

It has since spread around the world, with new cases found in the Netherlands, Denmark and Australia even as more countries imposed travel restrictions to try to seal themselves off. Japan said on Monday it would close its borders to foreigners, joining Israel in taking the toughest measures.

The WHO, in its latest guidance, urged that countries to use a "risk-based approach to adjust international travel measures in a timely manner". Further advice would be forthcoming, it said.

"The presence of multiple mutations of the spike protein in the receptor-binding domain suggests that Omicron may have a high likelihood of immune escape from antibody-mediated protection. However, immune escape potential from cell-mediated immunity is more difficult to predict," it said.

"Overall, there are considerable uncertainties in the magnitude of immune escape potential of Omicron."

More data was expected in coming weeks.

"Covid-19 cases and infections are expected in vaccinated persons, albeit in a small and predictable proportion," the UN agency said.

A top South African infectious disease expert said Omicron appears to be more transmissible than previous variants, including to people with immunity from vaccination or prior infection. South African cases are likely to top 10,000 a day this week, rocketing up from 2,858 on Sunday and barely 300 a day two weeks ago, Professor Salim Abdool Karim said.

But he added that it was too early to say whether symptoms were more severe and said existing Covid-19 vaccines are probably effective at stopping Omicron from causing severe illness.

Day 1 results:

Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)

Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)

Autumn international scores

Saturday, November 24

Italy 3-66 New Zealand
Scotland 14-9 Argentina
England 37-18 Australia

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
Voy!%20Voy!%20Voy!
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TYPES%20OF%20ONLINE%20GIG%20WORK
%3Cp%3E%3Cstrong%3EDesign%2C%20multimedia%20and%20creative%20work%3A%20%3C%2Fstrong%3ELogo%20design%2C%20website%20design%2C%20visualisations%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBusiness%20and%20professional%20management%3A%20%3C%2Fstrong%3ELegal%20or%20management%20consulting%2C%20architecture%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBusiness%20and%20professional%20support%3A%20%3C%2Fstrong%3EResearch%20support%2C%20proofreading%2C%20bookkeeping%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESales%20and%20marketing%20support%3A%20%3C%2Fstrong%3ESearch%20engine%20optimisation%2C%20social%20media%20marketing%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EData%20entry%2C%20administrative%2C%20and%20clerical%3A%20%3C%2Fstrong%3EData%20entry%20tasks%2C%20virtual%20assistants%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIT%2C%20software%20development%20and%20tech%3A%20%3C%2Fstrong%3EData%20analyst%2C%20back-end%20or%20front-end%20developers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EWriting%20and%20translation%3A%20%3C%2Fstrong%3EContent%20writing%2C%20ghost%20writing%2C%20translation%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EOnline%20microtasks%3A%20%3C%2Fstrong%3EImage%20tagging%2C%20surveys%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20World%20Bank%3C%2Fem%3E%3C%2Fp%3E%0A
Paris%20Agreement
%3Cp%3EArticle%2014%3C%2Fp%3E%0A%3Cp%3E1.%20%5BThe%20Cop%5D%20shall%20periodically%20take%20stock%20of%20the%20implementation%20of%20this%20Agreement%20to%20assess%20the%20collective%20progress%20towards%20achieving%20the%20purpose%20of%20this%20Agreement%20and%20its%20long-term%20goals%20(referred%20to%20as%20the%20%22global%20stocktake%22)%3C%2Fp%3E%0A%3Cp%3E2.%20%5BThe%20Cop%5D%20shall%20undertake%20its%20first%20global%20stocktake%20in%202023%20and%20every%20five%20years%20thereafter%C2%A0%3C%2Fp%3E%0A
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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COMPANY PROFILE

Company name: Letstango.com

Started: June 2013

Founder: Alex Tchablakian

Based: Dubai

Industry: e-commerce

Initial investment: Dh10 million

Investors: Self-funded

Total customers: 300,000 unique customers every month

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.”

JAPAN SQUAD

Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa

TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

Rating: 4.5/5

How does ToTok work?

The calling app is available to download on Google Play and Apple App Store

To successfully install ToTok, users are asked to enter their phone number and then create a nickname.

The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.

Users can also invite other contacts to download ToTok to allow them to make contact through the app.

 

Our family matters legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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
COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

Updated: November 29, 2021, 12:35 PM