The Formula One season so far suggests there is a buzz around the sport this year, with several drivers seriously contending for the championship in what is the competition's 75th anniversary season.
American entertainment group Liberty Media, which acquired Formula One Group for $4.6 billion in 2017, set out to modernise the sport and boost fan engagement by expanding the race calendar.
Under its ownership, Netflix launched the global hit Drive to Survive; and this June, F1: The Movie, the Brad Pitt-led film about the fictional APX GP racing team (co-produced by Lewis Hamilton), will release on Apple TV+.
All of this has raised the sport’s global profile and attracted major corporate partners, including LVMH, which reportedly signed a $1 billion, 10-year sponsorship deal in October.
The watch world has long been enamoured with F1. Jack Heuer was the first to put a logo on a Formula One car, sponsoring Jo Siffert’s Lotus in 1969. By 1971, Heuer had struck a partnership with Ferrari. By then, Heuer’s square-case Monaco watch had gained fame after Steve McQueen wore it in the 1971 film Le Mans, adding racing glamour to the brand.
In 1986, Techniques d’Avant Garde (Tag) acquired Heuer and went on to sponsor the McLaren team, backing famous drivers Ayrton Senna and Alain Prost.
As of 2025, Tag Heuer’s name is linked to 239 victories, 15 World Drivers’ Championships and 11 World Constructors’ Championships, most recently with Oracle Red Bull and Max Verstappen. This year, Tag Heuer (now owned by LVMH) returns as Official Timekeeper, a title it last held between 1992 and 2003.
To mark the occasion, Tag Heuer released nine Formula One Solargraph models, reflecting the pit lane clock design and available in playful colours at an entry-level price point (about Dh8,000). Two minutes of exposure to light powers each watch for a full day.
Meanwhile, Verstappen has been spotted wearing the headline-grabbing Monaco Split-Seconds Chronograph/F1 in white ultralight ceramic, featuring an advanced split-seconds movement.
It’s a major statement for Tag Heuer. “Today, Formula One stands as a global phenomenon that transcends genders, generations and borders, much like Tag Heuer itself,” noted chief executive Antoine Pin at Geneva’s Watches & Wonders in April.
He described it as the brand’s biggest communication investment to date, adding: “This renewed partnership presents an extraordinary platform to showcase the maison’s expertise in precision timing.”
Watches and racing cars inherently share values – precision engineering, cutting-edge technology and avant-garde materials. Engineers at the Mercedes-AMG Petronas F1 team and IWC Schaffhausen regularly collaborate, notably this year on the Big Pilot’s Watch Shock Absorber XPL Toto Wolff Edition, named after the Mercedes team’s media-friendly boss.
Designed to withstand the forces of F1 racing, the watch features the patented Spring-g Protect shock absorber system, which protects the movement even under high impacts, akin to the G-forces endured in a crash at 320kph. F1 cars can experience up to 5g at circuits such as Silverstone, but the Big Pilot’s ethos is rooted in aviation, where fighter jets endure up to 9g.
Meanwhile, Richard Mille occupies a rare position, sponsoring two rival teams – Scuderia Ferrari and McLaren. Charles Leclerc wears the RM 67-02 Italy, while Lewis Hamilton, newly signed to Ferrari, now sports the RM 74-02 Automatic Tourbillon, after years of wearing IWC at Mercedes.
Engineers from Ferrari and Richard Mille, whose partnership began in 2021, recently collaborated on the RM 43-01, launched in March. Featuring an aerodynamic case profile and Ferrari’s signature rear-light-inspired pushers, it also boasts a next-generation split-seconds chronograph movement. The titanium version is priced at Dh5 million and the carbon TPT version at nearly Dh6 million, and each is limited to 75 pieces.
The relationship between Richard Mille and Ferrari began through brand ambassador Charles Leclerc. “When we saw the previous partnership with Ferrari had finished, we saw an occasion for a discussion,” says Alexandre Mille, who co-leads the brand with his sister, Amanda, and Maxime Guenat following Richard Mille’s retirement. “Ferrari was super-happy to start.”
Ferrari wanted exclusivity, but Richard Mille insisted on maintaining its long-standing partnership with McLaren, which has been in place since 2016. Their fourth collaboration, the 500-piece RM 65-01 McLaren Automatic Split-Seconds Chronograph W1, draws design cues from McLaren’s most powerful and radical road car to date, the W1. Race-winner Oscar Piastri wore this watch on the podiums in Bahrain and Saudi Arabia, while teammate Lando Norris sports the RM 67-02.
Elsewhere in the paddock, several other watch brands are making moves. H Moser & Cie and Tudor entered the F1 scene two years ago, partnering with BWT Alpine and Visa Cash App Red Bull (aka Racing Bulls), respectively. Returning for a fourth year is Girard-Perregaux, which partners with Aston Martin Aramco.
Though the team has had a chequered history, new investment and energy from owner Lawrence Stroll have spurred momentum. Girard-Perregaux’s Laureato Absolute Aston Martin F1 Edition features a 44mm titanium case and the same green livery as the Aston Martin race cars, with design details inspired by the famous DB12.
“It’s our first dive into the finely tuned world of Formula One,” says Edouard Meylan, chief executive and co-owner of H Moser & Cie, who chose the flagship Streamliner collection for the partnership with Alpine last year, producing a version of its Cylindrical Tourbillon with a skeletonised main dial at 12 o’clock topped with a small domed dial in blue.
“Since the beginning of this adventure, H Moser & Cie’s visibility has accelerated at the speed of a race car. Drive to Survive has thrown the spotlight on F1 in a whole new way, turning the paddocks into a playground for a generation hungry for adrenalin and storytelling,” says Meylan.
Playful with colours, a pink version to match Alpine’s blue-pink livery was later added at the Miami Grand Prix. This, Meylan points out, “speaks a language Gen Z understands – boldness, fun and reinterpretation of traditional watchmaking. All elements that speak to the aesthetes of tomorrow.”
Driving for Racing Bulls, rookies Liam Lawson and Isack Hadjar sport Tudor’s Black Bay Ceramic “Blue” edition, exemplifying the brand’s “Born to Dare” ethos. “Tudor has always been fuelled by a daring spirit, a consistent will to do things differently,” says the brand's chief executive Eric Pirson, adding he is “beyond thrilled to return to motorsport with a partner that’s ready to take on the challenge”.
SECRET%20INVASION
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Moral education needed in a 'rapidly changing world'
Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.
Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.
"Moral education touches on every aspect and subject that children engage in.
"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.
"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."
First Person
Richard Flanagan
Chatto & Windus
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
How%20to%20avoid%20getting%20scammed
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
The biog
Favourite book: You Are the Placebo – Making your mind matter, by Dr Joe Dispenza
Hobby: Running and watching Welsh rugby
Travel destination: Cyprus in the summer
Life goals: To be an aspirational and passionate University educator, enjoy life, be healthy and be the best dad possible.
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 specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
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.”
Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
COMPANY%20PROFILE
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FIVE%20TRENDS%20THAT%20WILL%20SHAPE%20UAE%20BANKING
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Company%20profile
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MATCH INFO
Uefa Champions League, semi-final result:
Liverpool 4-0 Barcelona
Liverpool win 4-3 on aggregate
Champions Legaue final: June 1, Madrid
KEY DEVELOPMENTS IN MARITIME DISPUTE
2000: Israel withdraws from Lebanon after nearly 30 years without an officially demarcated border. The UN establishes the Blue Line to act as the frontier.
2007: Lebanon and Cyprus define their respective exclusive economic zones to facilitate oil and gas exploration. Israel uses this to define its EEZ with Cyprus
2011: Lebanon disputes Israeli-proposed line and submits documents to UN showing different EEZ. Cyprus offers to mediate without much progress.
2018: Lebanon signs first offshore oil and gas licencing deal with consortium of France’s Total, Italy’s Eni and Russia’s Novatek.
2018-2019: US seeks to mediate between Israel and Lebanon to prevent clashes over oil and gas resources.
AT%20A%20GLANCE
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Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
COMPANY%20PROFILE
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Leaderboard
63 - Mike Lorenzo-Vera (FRA)
64 - Rory McIlroy (NIR)
66 - Jon Rahm (ESP)
67 - Tom Lewis (ENG), Tommy Fleetwood (ENG)
68 - Rafael Cabrera-Bello (ESP), Marcus Kinhult (SWE)
69 - Justin Rose (ENG), Thomas Detry (BEL), Francesco Molinari (ITA), Danny Willett (ENG), Li Haotong (CHN), Matthias Schwab (AUT)
NEW%20PRICING%20SCHEME%20FOR%20APPLE%20MUSIC%2C%20TV%2B%20AND%20ONE
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
SERIE A FIXTURES
Saturday Benevento v Atalanta (2pm), Genoa v Bologna (5pm), AC Milan v Torino (7.45pm)
Sunday Roma v Inter Milan (3.30pm), Udinese v Napoli, Hellas Verona v Crotone, Parma v Lazio (2pm), Fiorentina v Cagliari (9pm), Juventus v Sassuolo (11.45pm)
Monday Spezia v Sampdoria (11.45pm)
Kibsons%20Cares
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GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
SERIE A FIXTURES
Friday Sassuolo v Benevento (Kick-off 11.45pm)
Saturday Crotone v Spezia (6pm), Torino v Udinese (9pm), Lazio v Verona (11.45pm)
Sunday Cagliari v Inter Milan (3.30pm), Atalanta v Fiorentina (6pm), Napoli v Sampdoria (6pm), Bologna v Roma (6pm), Genoa v Juventus (9pm), AC Milan v Parma (11.45pm)
The National photo project
Chris Whiteoak, a photographer at The National, spent months taking some of Jacqui Allan's props around the UAE, positioning them perfectly in front of some of the country's most recognisable landmarks. He placed a pirate on Kite Beach, in front of the Burj Al Arab, the Cheshire Cat from Alice in Wonderland at the Burj Khalifa, and brought one of Allan's snails (Freddie, which represents her grandfather) to the Dubai Frame. In Abu Dhabi, a dinosaur went to Al Ain's Jebel Hafeet. And a flamingo was taken all the way to the Hatta Mountains. This special project suitably brings to life the quirky nature of Allan's prop shop (and Allan herself!).
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
PROFILE BOX:
Company/date started: 2015
Founder/CEO: Rami Salman, Rishav Jalan, Ayush Chordia
Based: Dubai, UAE
Sector: Technology, Sales, Voice, Artificial Intelligence
Size: (employees/revenue) 10/ 100,000 downloads
Stage: 1 ($800,000)
Investors: Eight first-round investors including, Beco Capital, 500 Startups, Dubai Silicon Oasis, Hala Fadel, Odin Financial Services, Dubai Angel Investors, Womena, Arzan VC