Christian Eriksen, centre, has returned to the Denmark team after his cardiac arrest last summer and remains as important to the team as ever. Reuters
Christian Eriksen, centre, has returned to the Denmark team after his cardiac arrest last summer and remains as important to the team as ever. Reuters
Christian Eriksen, centre, has returned to the Denmark team after his cardiac arrest last summer and remains as important to the team as ever. Reuters
Christian Eriksen, centre, has returned to the Denmark team after his cardiac arrest last summer and remains as important to the team as ever. Reuters

World Cup

World Cup 2022 Group D: Denmark have the form and talent to be dark horses

Danes have impressed in the Nations League and reached the Euro 2020 semi-finals, despite the trauma of Eriksen's cardiac arrest

Harry Kettle

September 24, 2022

  • English
  • Arabic

The surprise European champions of 1992 have long since lived off of that reputation but in the present day, things are slightly different. Denmark are now viewed as a rising force in European football which leads to the question - is this the tournament that sees them make an even bigger breakthrough?

Europe is a continent stacked full of talent and as such, the Danes are seen as having an advantage over Australia and Tunisia, the teams most likely to compete with them for second place in Group D. Given the depth they now have in their squad, it’s hard to argue against that.

At Euro 2020 last summer, Denmark had to overcome Christian Eriksen's terrifying cardiac arrest. Over the course of the next few weeks, and motivated by the traumatic ordeal, they shocked the world by making a run to the semi-finals.

Three years prior in Russia, Denmark carefully went about their business by going unbeaten in a group that will look quite familiar heading into November. They beat Peru, managed to hold off Australia for a draw and even held eventual champions France to a stalemate before a penalty shootout loss to runners-up Croatia in the first knockout stage.

The Nations League in June saw Denmark again lost to Croatia, 1-0, but when put alongside the two wins over Austria and a 2-1 victory against France, there’s definitely an argument to be made that they are coming into this tournament with some momentum.

The defensive strength of Denmark has spoken for itself for years and if they can finally find a creative outlet for their forward stars, this could be a big coming out party.

Denmark's Road to Qatar

  • HOW DENMARK QUALIFIED FOR WORLD CUP 2022: (Group F): March 25, 2021. Israel 0 Denmark 2 (Braithwaite 13', Wind 67'): The Danes cruised to a comfortable win in their opening match thanks to goals from Martin Braithwaite and Jonas Wind. "We got what we came for - three points, and that's the most important," said Wind. "We scored two goals and stood up well defensively." Reuters
    HOW DENMARK QUALIFIED FOR WORLD CUP 2022: (Group F): March 25, 2021. Israel 0 Denmark 2 (Braithwaite 13', Wind 67'): The Danes cruised to a comfortable win in their opening match thanks to goals from Martin Braithwaite and Jonas Wind. "We got what we came for - three points, and that's the most important," said Wind. "We scored two goals and stood up well defensively." Reuters
  • March 28, 2021. Denmark 8 (Dolberg pen 19', 48', Damsgaard 22', 29', Stryger Larsen 35', Jensen 39', Skov 81', Ingvartsen 89'). Moldova 0: Denmark turn on the style, scoring four in each half to smash hapless Moldova despite making 10 changes from the side that defeated Israel. "It's hard not to be satisfied after a game like this," said manager Kasper Hjulmand. "I'm a little strange, so I will probably find something" to complain about. Reuters
    March 28, 2021. Denmark 8 (Dolberg pen 19', 48', Damsgaard 22', 29', Stryger Larsen 35', Jensen 39', Skov 81', Ingvartsen 89'). Moldova 0: Denmark turn on the style, scoring four in each half to smash hapless Moldova despite making 10 changes from the side that defeated Israel. "It's hard not to be satisfied after a game like this," said manager Kasper Hjulmand. "I'm a little strange, so I will probably find something" to complain about. Reuters
  • March 31, 2021. Austria 0 Denmark 4 (Skov Olsen 58', 74', Maehle 63', Hojbjerg 67'): Four second-half goals in 16 minutes - with substitute Andreas Skov Olsen scoring twice - saw Denmark demolish Austria in Vienna. "We played a brilliant second half. We created chances. Scored beautiful goals," said Hjulmand. " We have played three matches, and the biggest save Kasper [Schmeichel] has had was against Moldova. He didn't have a single one here or in Israel." Reuters
    March 31, 2021. Austria 0 Denmark 4 (Skov Olsen 58', 74', Maehle 63', Hojbjerg 67'): Four second-half goals in 16 minutes - with substitute Andreas Skov Olsen scoring twice - saw Denmark demolish Austria in Vienna. "We played a brilliant second half. We created chances. Scored beautiful goals," said Hjulmand. " We have played three matches, and the biggest save Kasper [Schmeichel] has had was against Moldova. He didn't have a single one here or in Israel." Reuters
  • September 1, 2021. Denmark 2 (Wass 14', Maehle 15') Scotland 0. September 4, 2021. Faroe Islands 0 Denmark 1 (Wind 85'). Denmark outclass Scotland in Copenhagen thanks to two goals in 93 seconds from Daniel Wass and Joakim Maehle, while Jonas Wind's late finish earned them three points three days later against the Faroes. PA
    September 1, 2021. Denmark 2 (Wass 14', Maehle 15') Scotland 0. September 4, 2021. Faroe Islands 0 Denmark 1 (Wind 85'). Denmark outclass Scotland in Copenhagen thanks to two goals in 93 seconds from Daniel Wass and Joakim Maehle, while Jonas Wind's late finish earned them three points three days later against the Faroes. PA
  • September 7, 2021. Denmark 5 (Poulsen 28', Kjaer 31', Skov Olsen 41', Delaney 58', Cornelius 90'+1) Israel 0: A man-of-the-match display from Mikkel Damsgaard helped Denmark make it six wins out of six and take them seven-points clear of second-placed Scotland. AFP
    September 7, 2021. Denmark 5 (Poulsen 28', Kjaer 31', Skov Olsen 41', Delaney 58', Cornelius 90'+1) Israel 0: A man-of-the-match display from Mikkel Damsgaard helped Denmark make it six wins out of six and take them seven-points clear of second-placed Scotland. AFP
  • October 9, 2021. Moldova 0 Denmark 4 (Skov Olsen 23', Kjaer pen 34', Norgaard 39', Maehle 44'): Denmark made it a 12-0 aggregate score against the Moldovans over two group games after scoring four first-half goals in Chisinau. The win left the Danes top of Group F with seven wins from seven games and no goals conceded. Reuters
    October 9, 2021. Moldova 0 Denmark 4 (Skov Olsen 23', Kjaer pen 34', Norgaard 39', Maehle 44'): Denmark made it a 12-0 aggregate score against the Moldovans over two group games after scoring four first-half goals in Chisinau. The win left the Danes top of Group F with seven wins from seven games and no goals conceded. Reuters
  • October 12, 2021. Denmark 1 (Maehle 53') Austria 0: Denmark became the second European nation to reach the finals in Qatar after Joakim Maehle's second-half goal made it eight wins from eight group games. "We built up a crew and a mentality that is incredibly healthy and we have been eager to improve all the time," said captain Simon Kjaer. "We have come a long way already but we have only become hungrier." AP
    October 12, 2021. Denmark 1 (Maehle 53') Austria 0: Denmark became the second European nation to reach the finals in Qatar after Joakim Maehle's second-half goal made it eight wins from eight group games. "We built up a crew and a mentality that is incredibly healthy and we have been eager to improve all the time," said captain Simon Kjaer. "We have come a long way already but we have only become hungrier." AP
  • November 12, 2021. Denmark 3 (Skov Olsen 18', Bruun Larsen 63', Maehle 90'+3) Faroe Islands 1 (K Olsen 89'): With their place in Qatar already safely in the bag, Denmark maintained their 100 per cent record with a comfortable win in Copenhagen, although their eight-match run without conceding a goal was ended by Klaemint Olsen's late finish. EPA
    November 12, 2021. Denmark 3 (Skov Olsen 18', Bruun Larsen 63', Maehle 90'+3) Faroe Islands 1 (K Olsen 89'): With their place in Qatar already safely in the bag, Denmark maintained their 100 per cent record with a comfortable win in Copenhagen, although their eight-match run without conceding a goal was ended by Klaemint Olsen's late finish. EPA
  • November 15, 2021. Scotland 2 (Souttar 35', Adams 86') Denmark 0: Denmark drop points for the first time in their final group game as Scotland seal a play-off place thanks to a deserved win in Glasgow. Denmark defender Andreas Christensen said: “There wasn’t that much motivation, though that’s a bad excuse. But they had more to play for than we did, and you could see that." AFP
    November 15, 2021. Scotland 2 (Souttar 35', Adams 86') Denmark 0: Denmark drop points for the first time in their final group game as Scotland seal a play-off place thanks to a deserved win in Glasgow. Denmark defender Andreas Christensen said: “There wasn’t that much motivation, though that’s a bad excuse. But they had more to play for than we did, and you could see that." AFP

Manager: Kasper Hjulmand

Star player: Christian Eriksen

One to watch: Kasper Dolberg

World Cup finals appeared in: 1986, 1998, 2002, 2010, 2018

Fixtures: Nov 22 - Denmark v Tunisia; Nov 26 - France v Denmark; Nov 30 - Australia v Denmark

SM Town Live is on Friday, April 6 at Autism Rocks Arena, Dubai. Tickets are Dh375 at www.platinumlist.net

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

The Details

Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5 

Ticket prices

General admission Dh295 (under-three free)

Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free

Buy tickets at: wbworldabudhabi.com/en/tickets

Scoreline

Syria 1-1 Australia

Syria Al Somah 85'

Australia Kruse 40'

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

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.”

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

The Voice of Hind Rajab

Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

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%3Cul%3E%0A%3Cli%3EThe%20loss%20of%20sodium%20chloride%20in%20our%20sweat%20can%20lead%20to%20confusion%20and%20an%20altered%20mental%20status%20and%20slurred%20speech%3C%2Fli%3E%0A%3Cli%3EBody%20temperature%20above%2039%C2%B0C%3C%2Fli%3E%0A%3Cli%3EHot%2C%20dry%20and%20red%20or%20damp%20skin%20can%20indicate%20heatstroke%3C%2Fli%3E%0A%3Cli%3EA%20faster%20pulse%20than%20usual%3C%2Fli%3E%0A%3Cli%3EDizziness%2C%20nausea%20and%20headaches%20are%20also%20signs%20of%20overheating%3C%2Fli%3E%0A%3Cli%3EIn%20extreme%20cases%2C%20victims%20can%20lose%20consciousness%20and%20require%20immediate%20medical%20attention%3C%2Fli%3E%0A%3C%2Ful%3E%0A
FIXTURES

UAE’s remaining fixtures in World Cup qualification R2
Oct 8: Malaysia (h)
Oct 13: Indonesia (a)
Nov 12: Thailand (h)
Nov 17: Vietnam (h)
 

Bharat

Director: Ali Abbas Zafar

Starring: Salman Khan, Katrina Kaif, Sunil Grover

Rating: 2.5 out of 5 stars

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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EDavid%20Lowery%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Alexander%20Molony%2C%20Ever%20Anderson%2C%20Joshua%20Pickering%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Updated: September 28, 2022, 8:53 AM
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