On a freezing January morning in Srinagar, Gulam Rasool Akhoon is a bit worried about the inclement weather as he slowly sips his saffron-laced kahwa tea.
The chillai kalan, the coldest 40-day period of the winter in Jammu and Kashmir, has been particularly harsh this year, and he may have to halt his work for a while. With that thought, he pulls himself together, puts on layers of clothing, offers his morning prayers and steps out of his 19th-century home on Dal Lake.
The fierce winds and a temperature of minus 10°C do not deter him; at 62, he feels fit to brave the weather. When the sun begins to show up behind the mountains at 7.30am, Akhoon pulls his deodar wood shikara boat on to the freezing waters of Dal, Srinagar's biggest tourist attraction. Loaded with the previous day's produce of radishes, carrots, turnips, four types of saag and the Kashmiri delicacy nadru (lotus stem), Akhoon rows away to the floating vegetable market minutes from his Nandpura village residence.
Dal Lake's 225-year-old floating vegetable market comes alive with a burst of colour every morning, when shikaras loaded with fruit and vegetables come together to do business. Lake-dwelling farmers – called demb Hanjis – such as Akhoon cultivate produce on their privately owned floating vegetable gardens, known as raadhs, and sell it every morning to vendors who take it to markets across Srinagar and the rest of Kashmir.
In the summer, transactions within the market begin at 4.30am and within an hour or so, money has exchanged hands and the demb Hanjis row their empty shikaras home, seated precariously on one end. It is thought that Dal Lake farmers supply 40 per cent of fruits and vegetables to local and regional markets.
Their lives, however, are as turbulent as the lake is tranquil. Since the 1980s, when an environmental movement started to conserve the shrinking Dal Lake, its dwellers have been held responsible for its degradation and pollution.
According to the 2011 census, the lake and its periphery are home to about 135,000 Hanjis, a minority community. "The Hanji population has grown rapidly and there must be about 80,000 within the lake now," says MRD Kundangar, a hydrobiologist from Srinagar, and founder and former director of the research and development department of Jammu and Kashmir's Lakes and Waterways Development Authority. The organisation was created as an autonomous body by the state government in 1997 to manage and conserve the city's water bodies.
Hanjis live in 58 hamlets on the lake and are involved, apart from farming, in fishing and houseboat tourism. Some sources call them the original inhabitants of Kashmir, while others say they came from Sri Lanka. Akhoon, who is the general secretary of the Dal Dwellers Welfare Union, says that his extended family of now 132 members has been living on the lake for the past 316 years, and that his ancestral home, constructed 149 years ago, still survives.
Agriculture being their primary profession, the family cultivates 19 types of vegetable and fruit on two acres of land. During the summer, Akhoon takes tourists trekking and kayaking and, until a few years ago, he also ran a handicrafts shop on the lake.
"The Hanji farmers are critical to Srinagar's economy," says Ajaz Rasool, an erstwhile hydraulic engineer and environmental activist in Srinagar. Not only do they cater to a large portion of the Valley's vegetable and fruit needs, but their produce is also available during Srinagar's innumerable curfews and closures, since the lake's waterways are always open and the farmers never stop servicing the market. The only exception, Akhoon says, was for a period of 21 months after the 2014 floods, which drowned Srinagar for three weeks.
“The prices of vegetables dropped drastically during the lockdown last year, but we were out in the market every day,” Akhoon says. This has also made farming sustainable for members of this community, who draw their livelihoods from the lake in several ways.
Surveys have found that some Hanjis have illegal dwellings on the lake, but most own portions of land on the lake formalised through the Land Settlement Act of the 1880s. For years, the land owned on the lake could be sold and purchased, until a moratorium was issued on such transactions. Since 1986, the state has made construction within the lake illegal. Even after the 2014 floods, the lake-dwellers were not permitted to carry out any reconstruction of their damaged property.
The shrinking of the lake's water expanse from 25 square kilometres to 12 square kilometres has been attributed to the Hanjis' encroachment and activities. They have been blamed for converting their raadhs into small islands. "They often do this by planting willow trees on the raadh's periphery and topping it up with lake sediment, thus extending the land mass of the lake," Rasool says.
The raadh is fed with aquatic weeds from the lake, which become the minerals and nutrients for the crops. Kundangar explains that the constant extraction of these weeds not only helps to maintain the lake's aesthetics, but has also reduced cases of fish getting entangled in them. Boating also becomes easier when the density of weeds plummets. But this contribution of the Hanjis to the lake is marred by the fact that some of them have begun using synthetic fertilisers, which leach into the water.
Over the years, along with the houseboat Hanjis, who have been condemned for polluting the lake with sewage, the demb Hanjis have been seen as one of the biggest disruptors to the lake's ecology and are in the eye of the storm. However, a study published in the International Journal of Scientific and Engineering Research in 2017 reveals that Srinagar's 15 major drains that "empty into the lake bring along 18.2 tonnes of phosphorous and 25 tonnes of inorganic nitrogen nutrients", and are, in fact, the biggest polluters.
“The Hanjis residing in the hamlets and the 750 houseboat Hanjis stand second and third in their contribution to the lake’s pollution,” Rasool says.
Hundreds of such families have been relocated from the lake over the years, but they are not satisfied with the government’s compensation package and do not find the vocational schemes viable. One conspicuous initiative is the Rakh-e-Arth rehabilitation colony, built in Srinagar in 2007, which has been riddled with problems owing to poor planning.
Anthropologists Mona Bhan and Nishita Trisal in their 2016 essay in the journal Critique of Anthropology note that it is the Hanjis' caste, race and occupational inferiority that has framed a large part of the public discourse around their eviction. They are seen as distinct from other Kashmiris. Bhan and Trisal write how several environmentalists have called the Hanjis "less respectable, quarrelsome and even immoral", frame them "as the bearers of filth and disorder", and have blamed their "vile and scheming" character as the thing that has "ruined and contaminated the lake's pristine waters".
Experts agree that Hanjis are the backbone of the tourism industry in Srinagar, which is key to Jammu and Kashmir's economy, accounting for 7 per cent of the state's GDP.
However, "the lake's carrying capacity is limited", says Kundangar. Even though the Hanjis have a right to live on it, their rapidly increasing population has made their survival unsustainable. But with no alternative livelihoods within government schemes, the Hanjis – particularly those of an older generation with little education and skills limited to activities on the lake – find it difficult to fit into other jobs.
As with many other indigenous communities around the world, the Hanjis may have no choice but to adapt and fend for themselves in the months and years to come.
Top tips
Create and maintain a strong bond between yourself and your child, through sensitivity, responsiveness, touch, talk and play. “The bond you have with your kids is the blueprint for the relationships they will have later on in life,” says Dr Sarah Rasmi, a psychologist.
Set a good example. Practise what you preach, so if you want to raise kind children, they need to see you being kind and hear you explaining to them what kindness is. So, “narrate your behaviour”.
Praise the positive rather than focusing on the negative. Catch them when they’re being good and acknowledge it.
Show empathy towards your child’s needs as well as your own. Take care of yourself so that you can be calm, loving and respectful, rather than angry and frustrated.
Be open to communication, goal-setting and problem-solving, says Dr Thoraiya Kanafani. “It is important to recognise that there is a fine line between positive parenting and becoming parents who overanalyse their children and provide more emotional context than what is in the child’s emotional development to understand.”
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
RESULTS
6.30pm: Al Maktoum Challenge Round-1 Group 1 (PA) Dh119,373 (Dirt) 1,600m
Winner: Brraq, Adrie de Vries (jockey), Jean-Claude Pecout (trainer)
7.05pm: Handicap (TB) Dh102,500 (D) 1,200m
Winner: Taamol, Connor Beasley, Ali Rashid Al Raihe.
7.40pm: Handicap (TB) Dh105,000 (Turf) 1,800m
Winner: Eqtiraan, Connor Beasley, Ali Rashid Al Raihe.
8.15pm: UAE 1000 Guineas Trial (TB) Dh183,650 (D) 1,400m
Winner: Soft Whisper, Pat Cosgrave, Saeed bin Suroor.
9.50pm: Handicap (TB) Dh105,000 (D) 1,600m
Winner: Hypothetical, Mickael Barzalona, Salem bin Ghadayer.
9.25pm: Handicap (TB) Dh95,000 (T) 1,000m
Winner: Etisalat, Sando Paiva, Ali Rashid Al Raihe
The%20specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
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
Price: From Dh126,000
Available: Now
First Person
Richard Flanagan
Chatto & Windus
Company%20Profile
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Our House, Louise Candlish,
Simon & Schuster
MATCH INFO
Real Madrid 2
Vinicius Junior (71') Mariano (90 2')
Barcelona 0
THE BIO
Ambition: To create awareness among young about people with disabilities and make the world a more inclusive place
Job Title: Human resources administrator, Expo 2020 Dubai
First jobs: Co-ordinator with Magrudy Enterprises; HR coordinator at Jumeirah Group
Entrepreneur: Started his own graphic design business
Favourite singer: Avril Lavigne
Favourite travel destination: Germany and Saudi Arabia
Family: Six sisters
Company%C2%A0profile
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Teams
India (playing XI): Virat Kohli (c), Ajinkya Rahane, Rohit Sharma, Mayank Agarwal, Cheteshwar Pujara, Hanuma Vihari, Ravichandran Ashwin, Ravindra Jadeja, Wriddhiman Saha (wk), Ishant Sharma, Mohammed Shami
South Africa (squad): Faf du Plessis (c), Temba Bavuma, Theunis de Bruyn, Quinton de Kock, Dean Elgar, Zubayr Hamza, Keshav Maharaj, Aiden Markram, Senuran Muthusamy, Lungi Ngidi, Anrich Nortje, Vernon Philander, Dane Piedt, Kagiso Rabada, Rudi Second
Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
UAE currency: the story behind the money in your pockets
Europa League group stage draw
Group A: Villarreal, Maccabi Tel Aviv, Astana, Slavia Prague.
Group B: Dynamo Kiev, Young Boys, Partizan Belgrade, Skenderbeu.
Group C: Sporting Braga, Ludogorets, Hoffenheim, Istanbul Basaksehir.
Group D: AC Milan, Austria Vienna , Rijeka, AEK Athens.
Group E: Lyon, Everton, Atalanta, Apollon Limassol.
Group F: FC Copenhagen, Lokomotiv Moscow, Sheriff Tiraspol, FC Zlin.
Group G: Vitoria Plzen, Steaua Bucarest, Hapoel Beer-Sheva, FC Lugano.
Group H: Arsenal, BATE Borisov, Cologne, Red Star Belgrade.
Group I: Salzburg, Marseille, Vitoria Guimaraes, Konyaspor.
Group J: Athletic Bilbao, Hertha Berlin, Zorya Luhansk, Ostersund.
Group K: Lazio, Nice, Zulte Waregem, Vitesse Arnhem.
Group L: Zenit St Petersburg, Real Sociedad, Rosenborg, Vardar
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5