5:30am
No matter what time I go to sleep, morning comes too early. I part the curtains and, though I'm excited by the California Superbike School I'll be attending soon, I half hope that it's raining so I can go back to bed. No such luck.
7:00am
Arriving at the Dubai Autodrome, I check in with the officials and find I'll be part of a group of 18 riders, with two other groups taking part on the day. As a rookie, I immediately start at the bottom: Level 1 of 4. I also speak with Noel Ebdon, the course controller, who has graciously loaned me a leather track suit for the day. You don't want to get on the controller's bad side - if he thinks you don't belong on the track, you go home.
7:14am
I meet Michael Guy, a glass artisan who rides a BMW K1200S. After a 28-year hiatus, he took up riding again three years ago. Guy has already completed the course, but was returning to hone his skills again. "Just after the first course, I was a different rider. It lets you explore your limits and gives you huge confidence. "I'm doing Level 3 again today just because it was so enjoyable."
7:32am
I walk out to find the bike that Harley-Davidson UAE has sourced for my day. But instead of a Buell sport bike, it turns out I'll be riding a Harley XR1200. It's the brand's most sporty bike, but with its dual-shock rear suspension and upright stance, it's not as, how shall I say, agile as the sport bikes that most others have brought to the class. But I learn later that that's not the point.
8:00am
Our first classroom session. Inside, we meet the man behind the school, Andy Ibbott. A former motorcycle racer, Ibbott is very bright and perky for such an early morning. He starts off by telling us his thoughts behind the school. "Practice is good only if you know what to practise. I don't like trial and error because, let's be honest, that can kill you." His words make me feel that we're on the same page. But that feeling is gone when he describes our first on-track lesson.
"You'll be keeping it in third gear, and you can't use the brakes." And I can't help but think that the "no brakes" thing doesn't much sound like he wants to avoid killing anyone. The point of the lesson is throttle control; we have to learn a sense of our speed. Ibbott goes into the dynamics of turning a bike, but he hammers one point home with emphasis: "Keep the bike stable". If that means keeping it on two wheels, then OK.
8:26am
We're on our bikes and warming up to go out on track for the first time. The Harley is comfortable, but I notice the vibration from the big V-twin is making the front tyre throb up and down on the road. We've also been assigned riding coaches, who will follow our pack and point out problems via hand signals. My coach is Nemo, aka Lee Sibary, a ruddy and smiling Yorkshireman riding a Buell sport bike. After every track session he'll be there to debrief me, ie point out how bad I was.
Finally, our group is waved out, and I bring it to third gear and leave it. No brakes? No problem, but I'm taking it slow at first. I'm impressed with the torque the V-twin delivers, but I'm less impressed with the way the footpegs drag on the ground in some turns, which churns my gut every time. And, on the front straight, my body felt like a parachute in the wind, while guys on sport bikes crouch low and humble me flying past.
11:03am
Back in the classroom, Ibbott goes into the next lesson: waiting late to turn. His point is the sharper your turn, the less time you'll be leaned over, which improves grip. I also calculate it'll mean more time further away from the tarmac.
12:15pm
Nemo is debriefing me after our track outing, saying my last corner was too wide. That's not great, but it's better than the rider that came off in a corner, leaving a long, black skid mark towards the tyre barriers along the wall. Luckily, he was fine enough to carry on with the course.
12:35pm
Lesson three, adding brakes and dropping your bike into a turn quicker. Oh, and did I mention it was starting to lightly drizzle? You can feel growing apprehension in the classroom.
12:53pm
Back in the pits after the track, where Nemo is telling me how I did well with the turning. He can take the credit, though, after having me follow and showing me exactly how to do it. I also noticed my pegs weren't scraping anymore.
2:46pm
In class, Ibbott talks about a relaxed riding position. Keeping your grip loose on the handlebars means the front tyre can move with the road surface, getting better grip. Meanwhile we're complaining about the rain, normally an odd thing to do in the UAE. But Ibbott says if you can't see a line behind the tyre of a bike, it's not officially classed as wet. As he says this, I look out the window and see a truck bringing in a crashed motorcycle on a trailer.
3:20pm
There's nothing like sheer terror to drill a lesson into your head. As we head out onto the track, the rain is coming down harder, leaving a sheen on the black tarmac. I gulp and lean into the first turn, and find the bike sliding side to side, searching for grip. I put my faith in Ibbott's teachings - and come out safely from the curve.
3:44pm
I survived. Debrief and right back to the classroom.
3:58pm
Our final lesson deals with the eyes - where to look going into a turn. According to Ibbott, it is the glue that holds all of the lessons together.
4:18pm
Waiting for our final track time, I talk with Simon McLean, the COO of Waha Leasing in Abu Dhabi. McLean was excited about attending the top two levels the next day. "I just think, with the improvement I've seen in myself today, imagine what I'll be like after tomorrow."
4:59pm
Debrief and a hearty handshake from Nemo. Good job, he tells me with a broad smile. You just can't help but like this guy!
5:04pm
Final review in the classroom, and Ibbott goes over everything we learned. He asks the class if we consider ourselves better riders, and I have to say yes. Learning the theory of turning and putting it into practice in a controlled setting really raises a rider's confidence.
I also realise that it doesn't matter what type of bike you bring to these classes. Though the XR1200 may not fit in with the Ninjas or GSXs on a race track, if it is your daily ride you'll learn how to ride it properly for the street here. And though four riders came off their bikes in the day, all were OK. On a track, there is no traffic to worry about after a crash.
5:30pm
I'm leaving the Autodrome a full 12 hours after I woke up. But I realise the early morning was worth it. For once.
The next California Superbike School will take place under the lights at Yas Marina Circuit on February 25 and 26. For more information, go to www.superbikeschoolme.com
nvorano@thenational.ae
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Results
%3Cp%3E%3Cstrong%3EStage%203%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Einer%20Rubio%20(COL)%20Movistar%20Team%20-%204h51%E2%80%9924%E2%80%9D%3Cbr%3E2.%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%20-%2014%22%3Cbr%3E3.%20Adam%20Yates%20(GBR)%20UAE%20Team%20Emirates%20-%2015%22%3Cbr%3E%3Cstrong%3EGeneral%20classifications%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%3Cbr%3E2.%20Lucas%20Plapp%20(AUS)%20Ineos%20Grenaders)%20-%207%22%3Cbr%3E3.%20Pello%20Bilbao%20(ESP)%20Bahrain%20Victorious%20-%2011%22%3C%2Fp%3E%0A
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
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.”
Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
UAE squad
Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
Day 5, Abu Dhabi Test: At a glance
Moment of the day When Dilruwan Perera dismissed Yasir Shah to end Pakistan’s limp resistance, the Sri Lankans charged around the field with the fevered delirium of a side not used to winning. Trouble was, they had not. The delivery was deemed a no ball. Sri Lanka had a nervy wait, but it was merely a stay of execution for the beleaguered hosts.
Stat of the day – 5 Pakistan have lost all 10 wickets on the fifth day of a Test five times since the start of 2016. It is an alarming departure for a side who had apparently erased regular collapses from their resume. “The only thing I can say, it’s not a mitigating excuse at all, but that’s a young batting line up, obviously trying to find their way,” said Mickey Arthur, Pakistan’s coach.
The verdict Test matches in the UAE are known for speeding up on the last two days, but this was extreme. The first two innings of this Test took 11 sessions to complete. The remaining two were done in less than four. The nature of Pakistan’s capitulation at the end showed just how difficult the transition is going to be in the post Misbah-ul-Haq era.
RESULTS
5pm: Maiden (PA) Dh80,000 2,200m
Winner: Arjan, Fabrice Veron (jockey), Eric Lemartinel (trainer).
5.30pm: Maiden (PA) Dh80,000 1,400m
Winner: Jap Nazaa, Royston Ffrench, Irfan Ellahi.
6pm: Al Ruwais Group 3 (PA) Dh300,000 1,200m
Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinal.
6.30pm: Shadwell Gold Cup Prestige Dh125,000 1,600m
Winner: AF Sanad, Bernardo Pinheiro, Khalifa Al Neyadi.
7pm: Shadwell Farm Stallions Handicap (PA) Dh70,000 1,600m
Winner: Jawal Al Reef, Patrick Cosgrave, Abdallah Al Hammadi.
7.30pm: Maiden (TB) Dh80,000 1,600m
Winner: Dubai Canal, Harry Bentley, Satish Seemar.
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'How To Build A Boat'
Jonathan Gornall, Simon & Schuster
Indoor cricket in a nutshell
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
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