So impressive were the skills of the young, satin-clad kung fu artists who now lie exhausted on a mat just outside China that, long after the drums and applause had ended, Bijeesh Babu continues to smile.
In the space of just a few hours, the 30-year-old Abu Dhabi-based engineer had been exposed to cultures from Western Europe to South East Asia and many others in between. Babu isn't a private jet owner, nor does he have the ability to time travel – he is simply one of millions of people who has fallen for the considerable cultural charms of Dubai's Global Village.
Every year since 1997, between the cooler months of October and March, traders from around the world have set up stalls at this tourism and cultural destination where, under a night’s sky, they sell their traditional wares to tourists and residents, such as Babu, at unique, country-themed pavilions.
Tonight, 16 years after its debut, the grounds are heaving with people who have made the journey out of the city centre to its purpose-built grounds off Sheikh Mohammed bin Zayed Road (formerly Emirates Road) to enjoy the spectacle. Organisers claim that the Village welcomes five million visitors per year, and attracted more than 500,000 people this Eid Al Adha alone. Rickshaw drivers relieve the burden of walking from the vast car park area to the main entrance (there’s enough room for 17,000 cars). Inside, costumed performers dance and put on shows to entertain the crowds that inevitably gather in the central outdoor food court area while, just metres from where Babu sits with friends watching the kung fu exhibition, The Lords of Lightning (two performers dressed in bodysuits) pass four million volts of electricity between each other. There’s a lot going on.
“This is my second year to come to Global Village,” says Babu, who is from Kerala, India. “My friends and I are in a festive mood. We came here to enjoy and learn about different nationalities and cultures. We’ve been here since 6pm; it’s 9pm now, and I think we’ll be here for a couple more hours yet. This kung fu demonstration was particularly good.”
The number of grinning children to be spotted with weary parents is testament to the quality of this year’s funfair, too, which takes the form of a Coney Island-style “Fantasy Island”, complete with wooden boardwalk floor, typical funfair games (think hooking ducks and throwing hoops over bottles) and an impressive selection of rides for the young and brave at heart, including a log flume and several rollercoasters.
But the majority of visitors inevitably end up shopping. When the event debuted in the late 1990s at Dubai Creek, it had 18 pavilions; this year, there are 37 to wander around, the newest additions being from Europe (Germany, Italy, France and the UK), and the general consensus is that it keeps getting better.
“I have been coming here for 10 years,” says Mohandas Unnikrishnn, a 40-year-old businessman from Kerala who has worked in Dubai for 12 years. “While it’s mostly the same stuff, I would say perhaps this year is a little better. I like the entertainment on offer here and the shopping. Among my favourite pavilions is probably India, but I like the many different countries showcased: you can get orientated with other cultures and their traditional items.”
At 6pm, the pair had bought only oils from Thailand but, as the venue stays open until 1am on weekends and holidays, the night was still young. “We may buy something else, I’m not sure,” says Unnikrishnn, with a smile. “The prices here can be a little high, so visitors should be ready to barter with traders. I think if you can get an item at around 80 per cent of the asking price then you’re doing well.”
The bartering habits of seasoned Global Village patrons are something that Sebastian Rocco, a Spain-based fashion jewellery designer and first-time exhibitor, is still getting used to. Rocco’s eponymous jewellery line, which features dramatic bracelets and necklaces cast with gold or silver plating and the odd touch of turquoise, is hugely popular in Russia, the United States and the UK. It more than holds its own in a pavilion that boasts beautiful Spanish ceramics, olive oil and on-trend shopping bags. So far, he says, response from shoppers has been strong.
“I’ve had a very good reaction here,” he says. “The only problem is that people expect to pay cheap and I am not cheap. I think the culture in this region is also to barter a little, so you have to adapt. I’m learning.
“My pieces have a little bit of a history. Once I explain that, people usually understand why my items are worth more. I was born in Uruguay and have lived in Spain for the last 10 years. This fashion jewellery thing has been in my family for three generations.”
Rocco is hoping that his presence at this year’s Spain pavilion will help him to locate a GCC-based distributor for his pieces. “I feel Global Village is a good entrance for this market that is so different and strange for us,” he explained. “I’m loving it; it’s a very forward business place.”
While young men dance to live music at the Iran pavilion, over at the India pavilion, Gujarat-based textile trader Seema Ganesh Lal, 35, proudly unfolds an intricately decorated bedspread for a potential customer.
“In Gujarat, most of the pieces are characterised by lots of beads and sequins, whereas Rajasthan is more thread work and less sequins,” she explains. “One bedcover can take about one-and-a-half months to make. All of the pieces here are from Gujarat. We work with an NGO in my small village there: I buy the pieces from the ladies, which helps them and their families.”
Lal has been travelling to Dubai specifically for Global Village for the past four years following a recommendation from a neighbour. “They said it was good for business, and I agree,” she says.
Meanwhile, at the rear of the Afghanistan pavilion, Raees Khan reveals a book from USAid on Afghan rug-making, to a rapt audience.
“The madar root produces the blue in this rug,” he explains to a British couple, pointing to a three-metre-by-two-metre Shirin Tagab rug. “They put it in these big pots and dye it regularly for three months so that the wool takes the colour. These are the sheep, and the wool is made by hand. When the wool is ready, they start the carpet. Did I explain the looming process that is used? Wait, let me get the loom …”
He proceeds to explain how the quality of a rug can be determined by the noise that it makes when you scratch the back of it, or how the wool smells when it is burnt: “The other thing is the dyes. Those carpets that have natural dyes, the more you look at them, the more you will love them. Some customers say the carpets talk to them.”
The combination of Khan’s Afghan rug knowledge, passed down to him by his father, and his natural storytelling ability, never fails to draw visitors to his stall. You’ll find them enthralled, sat on several of the hundred rugs he and his father choose on visits back to their home country.
“Afghani guys say carpet-making is an art and selling is an art,” he says with a smile. “Buying is an art also. Global Village is going well. It’s slow, but I may sell three carpets today, tomorrow I sell two, so every day I sell a few. It’s heavy work and I could switch to selling dresses, like my brother, who makes a lot more on his stall. But I love this job. Most of my customers come just to learn. It’s a pleasure to introduce the carpets, to explain about them.”
Khan’s father has held a stall at Global Village for the past 10 years. Originally from Paktia Province, in the east of the country, as a young man, his father stumbled upon rug trading almost accidentally, when, during trips across the border with Pakistan to acquire food to sell in Kabul, some Pakistani military generals asked him to bring them some rugs. “He brought five and sold them, and slowly the business built from there. We had the best business in Peshawar; Afghanistan came later, and five years ago we went to Kabul again.”
It’s all but impossible not to buy into the incredible culture and history on offer at many of the pavilions, as first-time Global Village visitor Stephanie Gardner, a British events worker who has lived in Dubai for the past year, is fast discovering.
“It’s my first time here and I think it’s pretty cool,” she says. “I had an Entertainer voucher, so it only cost my friend and I Dhs15 to get in between us. It gets you out of the house and it’s nice to walk around outdoors.”
So far she’s resisted the urge to buy anything, but she’s unsure how long she can stave off the temptation.
“You could leave with a lot of stuff. I just had visitors who were keen to see markets. They would have loved this, but it wasn’t open. I’ll bring my mother when she comes though – she would love it here.”
Global village is open until March 1, 2014, from 4pm to midnight on weekdays and from 4pm to 1am on weekends. Admission is Dhs15 per person. For more information, visit www.globalvillage.ae or call 04 362 4114
weekend@thenational.ae
The specs
Engine: Turbocharged four-cylinder 2.7-litre
Power: 325hp
Torque: 500Nm
Transmission: 10-speed automatic
Price: From Dh189,700
On sale: now
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
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.”
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
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Available: Now
More from Neighbourhood Watch:
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
AL%20BOOM
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GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
The years Ramadan fell in May
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
Points about the fast fashion industry Celine Hajjar wants everyone to know
- Fast fashion is responsible for up to 10 per cent of global carbon emissions
- Fast fashion is responsible for 24 per cent of the world's insecticides
- Synthetic fibres that make up the average garment can take hundreds of years to biodegrade
- Fast fashion labour workers make 80 per cent less than the required salary to live
- 27 million fast fashion workers worldwide suffer from work-related illnesses and diseases
- Hundreds of thousands of fast fashion labourers work without rights or protection and 80 per cent of them are women
UAE currency: the story behind the money in your pockets
The biog
Fatima Al Darmaki is an Emirati widow with three children
She has received 46 certificates of appreciation and excellence throughout her career
She won the 'ideal mother' category at the Minister of Interior Awards for Excellence
Her favourite food is Harees, a slow-cooked porridge-like dish made from boiled wheat berries mixed with chicken
FINAL LEADERBOARD
1. Jordan Spieth (USA) 65 69 65 69 - 12-under-par
2. Matt Kuchar (USA) 65 71 66 69 - 9-under
3. Li Haotong (CHN) 69 73 69 63 - 6-under
T4. Rory McIlroy (NIR) 71 68 69 67 - 5-under
T4. Rafael Cabrera-Bello (ESP) 67 73 67 68 - 5-under
T6. Marc Leishman (AUS) 69 76 66 65 - 4-under
T6. Matthew Southgate (ENG) 72 72 67 65 - 4-under
T6. Brooks Koepka (USA) 65 72 68 71 - 4-under
T6. Branden Grace (RSA) 70 74 62 70 - 4-under
T6. Alexander Noren (SWE) 68 72 69 67 - 4-under
What is graphene?
Graphene is a single layer of carbon atoms arranged like honeycomb.
It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were "playing about" with sticky tape and graphite - the material used as "lead" in pencils.
Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.
At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.
It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.
But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties.