Follow the latest news on the 2024 Paris Olympics
For the footwear industry, there is no bigger event than the Olympic Games.
Every time the global sporting event convenes, the world’s sportswear giants debut their latest innovations, knowing that each achievement will draw attention to the trainers that the athletes were wearing when they accomplished the feat.
This is no new trend. In fact, without the Olympics, the footwear industry might look dramatically different than it does today.
How Jesse Owens and the 1936 Olympics helped launch adidas and Puma
In 1936, two German brothers named Adolf (Adi) and Rudolph (Rudi) Dassler were working on a sportswear company called Dassler Brothers Sports Shoe Factory, which they’d founded in 1924, desperate to take things to the next level.
In previous Olympic Games – 1928 in Amsterdam and 1932 in Los Angeles – gold medal winners had been wearing Dassler track shoes, but this had failed to make the difference the brothers had hoped for.
The 1936 Berlin Games offered a different opportunity and Adi Dassler, in particular, knew it. German ruler Adolf Hitler had emphasised sport as a way of illustrating his theories of racial supremacy, and the Berlin Olympics were intended to be the showcase.
The Germans were to all wear Dassler footwear, as the brothers had reportedly been pressured to join Nazi party to save their business. (Rudi was reportedly said to be the true Nazi believer among the brothers.) However, Adi had someone else in mind who could increase the brand’s international exposure – Jesse Owens, the American track-and-field star.
Adi Dassler approached Owens in the Olympic Village with a purpose-built innovative product, made of sturdy leather and handmade spikes. Owens was enamoured, wearing the shoes throughout the Games and winning in unprecedented fashion, helping to change the course of history in more ways than one.
Years later, when American troops learnt that the Dassler factory had made the shoes Owens wore during his Olympic victories, they allowed the firm to continue operations, with many US soldiers becoming customers, leading to increased international sales.
Adi and Rudi eventually split, with Adi forming adidas and Rudi forming Puma in the late 1940s – both moves that probably would not have happened without Jesse Owens and the 1936 Olympics.
For both companies, the Olympics have remained a key part of their journeys, from an innovation and brand-building perspective with consciously crafted moments such as at the 1972 Olympics in Munich.
At that year’s Games, swimmer Mark Spitz won seven gold medals – setting seven world records in the process – and during the medals ceremony held up his Adidas Gazelles, which he called “my good luck shoes”.
Chariots of Fire: Reebok’s Olympic ancestor
One of the first major innovations in the shoe world made its debut 100 years ago, at the 1924 Summer Olympics in Paris.
That year, JW Foster & Sons, a shoe company founded in Bolton, England in 1895 by Joseph William Foster, introduced its revolutionary running pumps, which pioneered the use of spikes on their soles.
The most notable wearer of the shoes that year was runner Harold Abrahams, who became the 100m champion, with his story later immortalised in the 1981 film Chariots of Fire.
The company gained international fame as a result, thriving on the back of that success for years until adidas and Puma entered the market and pushed JW Foster to the side.
At that point, Foster’s grandsons were frustrated that their suggestions on how to compete were being ignored by others in the company, leading them to form Reebok in November 1958.
From Nike’s Moon Shoes to Michael Johnson’s gold shoes
While Nike may be the biggest footwear company in the world in 2024, the brand had very humble beginnings in 1964, when it was founded by a track athlete named Phil Knight and his coach, Bill Bowerman, in Eugene, Oregon.
In its initial years, it was called Blue Ribbon Sports, and acted primarily as a distributor for the Japanese shoe maker Onitsuka Tiger. But in 1971, Bowerman began to experiment with his wife’s waffle iron and crafted rubber trainers that could grip the track and remain lightweight.
The resulting Moon Shoes, as they came to be called, were first given to Olympic gold medallist Otis Davis, who had won the 400m in the 1960 Olympics in Rome.
Davis told The Hudson Reporter in 2012: “Bill Bowerman made the first pair of shoes for me. People don't believe me.
“In fact, I didn't like the way they felt on my feet. There was no support and they were too tight. But I saw Bowerman made them from the waffle iron, and they were mine.”
Bowerman then made the first proper batch of shoes for runners in the 1972 Olympic trials, making about 12 pairs. They are now among the most sought-after shoe collectors’ items, with Sotheby’s selling a pair for $437,500 in 2019.
Ever since, the Olympics have remained a key driver of Nike’s continued innovation and cultural influence.
In 1996, for example, runner Michael Johnson wore gold Nike track shoes which helped catapult him to global fame. They are perhaps the most famous footwear in Olympic history, with only Michael Jordan’s “Olympic” Nike Jordan VIIs, which he debuted at the 1992 games, to rival them.
“The idea was to make a shoe that was revolutionary, because I wanted something really lightweight and something with amazing support,” Johnson told Complex in 2016, explaining the origins of the shoe.
According to Johnson, the gold was only added to the shoe at the last minute, replacing the original design which was more metallic.
“The idea that it was going to be gold was not the original idea. It came about in the very last minute after designing that shoe for a year and a half.”
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Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
Expert input
If you had all the money in the world, what’s the one sneaker you would buy or create?
“There are a few shoes that have ‘grail’ status for me. But the one I have always wanted is the Nike x Patta x Parra Air Max 1 - Cherrywood. To get a pair in my size brand new is would cost me between Dh8,000 and Dh 10,000.” Jack Brett
“If I had all the money, I would approach Nike and ask them to do my own Air Force 1, that’s one of my dreams.” Yaseen Benchouche
“There’s nothing out there yet that I’d pay an insane amount for, but I’d love to create my own shoe with Tinker Hatfield and Jordan.” Joshua Cox
“I think I’d buy a defunct footwear brand; I’d like the challenge of reinterpreting a brand’s history and changing options.” Kris Balerite
“I’d stir up a creative collaboration with designers Martin Margiela of the mixed patchwork sneakers, and Yohji Yamamoto.” Hussain Moloobhoy
“If I had all the money in the world, I’d live somewhere where I’d never have to wear shoes again.” Raj Malhotra
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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
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
T20 World Cup Qualifier
October 18 – November 2
Opening fixtures
Friday, October 18
ICC Academy: 10am, Scotland v Singapore, 2.10pm, Netherlands v Kenya
Zayed Cricket Stadium: 2.10pm, Hong Kong v Ireland, 7.30pm, Oman v UAE
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Ashfaq Ahmed, Rameez Shahzad, Darius D’Silva, Mohammed Usman, Mohammed Boota, Zawar Farid, Ghulam Shabber, Junaid Siddique, Sultan Ahmed, Imran Haider, Waheed Ahmed, Chirag Suri, Zahoor Khan
Players out: Mohammed Naveed, Shaiman Anwar, Qadeer Ahmed
Players in: Junaid Siddique, Darius D’Silva, Waheed Ahmed
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Killing of Qassem Suleimani
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Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
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Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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India squad
Virat Kohli (captain), Rohit Sharma, Mayank Agarwal, K.L. Rahul, Shreyas Iyer, Manish Pandey, Rishabh Pant, Shivam Dube, Kedar Jadhav, Ravindra Jadeja, Yuzvendra Chahal, Kuldeep Yadav, Deepak Chahar, Mohammed Shami, Shardul Thakur.
Profile
Name: Carzaty
Founders: Marwan Chaar and Hassan Jaffar
Launched: 2017
Employees: 22
Based: Dubai and Muscat
Sector: Automobile retail
Funding to date: $5.5 million
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Killing of Qassem Suleimani
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Results:
6.30pm: Maiden Dh 165,000 1,400m.
Winner: Walking Thunder, Connor Beasley (jockey), Ahmad bin Harmash (trainer).
7.05pm: Handicap (rated 72-87) Dh 165,000 1,600m.
Winner: Syncopation, George Buckell, Doug Watson.
7.40pm: Maiden Dh 165,000 1,400m.
Winner: Big Brown Bear, Pat Dobbs, Doug Watson.
8.15pm: Handicap (75-95) Dh 190,000 1,200m.
Winner: Stunned, Pat Dobbs, Doug Watson.
8.50pm: Handicap (85-105) Dh 210,000 2,000m.
Winner: New Trails, Connor Beasley, Ahmad bin Harmash.
9.25pm: Handicap (75-95) Dh 190,000 1,600m.
Winner: Pillar Of Society, Pat Dobbs, Doug Watson.
LEADERBOARD
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Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.