Protesters storm Libya Parliament building demanding better living conditions


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Demonstrators broke into Libya's Parliament in Tobruk and set a fire in front of the building to protest against the country's warring political parties and to demand better living conditions, witnesses told international news agencies.

“We want the lights to work,” protesters chanted.

Security forces protecting the building withdrew from the site, the witnesses added.

  • A crowd stormed Libya's House of Representatives parliament building in Tobruk during a protest over worsening living conditions. AFP
    A crowd stormed Libya's House of Representatives parliament building in Tobruk during a protest over worsening living conditions. AFP
  • The protesters set fire to part of the complex. AFP
    The protesters set fire to part of the complex. AFP
  • Security forces protecting the building on Friday night withdrew from the site, witnesses said. AFP
    Security forces protecting the building on Friday night withdrew from the site, witnesses said. AFP
  • Demonstrations took place in towns and cities over the failure of politicians to solve the divided country's problems. AFP
    Demonstrations took place in towns and cities over the failure of politicians to solve the divided country's problems. AFP
  • A banner calls for 'The exit of all foreign forces in the east and west of the country' during a protest in the capital Tripoli. Reuters
    A banner calls for 'The exit of all foreign forces in the east and west of the country' during a protest in the capital Tripoli. Reuters
  • Protesters gather in Tripoli a day after opposing factions in the east and west of the country failed to agree a way out of the country's crisis. AFP
    Protesters gather in Tripoli a day after opposing factions in the east and west of the country failed to agree a way out of the country's crisis. AFP
  • The UN was mediating negotiations over a draft constitutional framework for elections. AFP
    The UN was mediating negotiations over a draft constitutional framework for elections. AFP
  • Protesters gather in Tripoli a day after the talks failed to make progress. AFP
    Protesters gather in Tripoli a day after the talks failed to make progress. AFP

Demonstrations took place on Friday in Tobruk, Tripoli, Benghazi and some smaller towns over the perceived failure of the government to solve the country's problems.

Libya has been in crisis since the 2011 uprising that ousted Muammar Qaddafi. In 2014, it split between warring eastern and western factions before a 2020 peace process tried to knit the country back together.

Despite international efforts, however, the country remains divided. Libya's House of Representatives remains based in Tobruk, hundreds of kilometres to the east of the capital Tripoli, since the 2014 east-west schism, while a rival body, formally known as the High Council of State, is based in Tripoli.

In Tripoli's Martyrs' Square, several hundred people gathered to shout slogans demanding electricity, criticising armed factions and politicians and demanding elections in the capital's biggest protests against the ruling elite for years.

Later on Friday, dozens of protesters stood by the government headquarters building, chanting "we want electricity, we want electricity".

Several television channels said that protesters in Tobruk, tired of the high-level bickering, had managed to penetrate the building where they committed acts of vandalism. Media outlets showed images of thick columns of black smoke coming from its perimeter as angry protesters burned tyres.

Images showed a protester driving a bulldozer had managed to smash through part of a gate, allowing other demonstrators to enter more easily, while officials' cars were set on fire.

The building was empty at the time of the protest.

Libya has endured several days of power cuts, worsened by the blockade of several oil facilities against the backdrop of political rivalries.

Presidential and parliamentary elections, originally set for December last year, were meant to cap a UN-led peace process following the end of the last major round of violence in 2020.

But the vote never took place due to several contentious candidacies and deep disagreements over the polls' legal basis between rival power centres in the east and west.

After the halted election, the House of Representatives said the interim unity government of Abdul Hamid Dbeibah had expired and it appointed Fathi Bashagha to replace him.

The UN said on Thursday that talks between the rival Libyan institutions aimed at breaking the deadlock had failed to resolve key differences.

Parliament speaker Aguila Saleh and High Council of State president Khaled Al Mishri recently met at the UN in Geneva for three days of talks to discuss a draft constitutional framework for elections.

While some progress was made, it was not enough to move forward towards elections, with the two sides still at odds over who can stand in the presidential elections, said the UN's top Libya envoy Stephanie Williams, who organised the talks.

Ms Williams condemned the attack on the Libyan parliament in a post on her Twitter account, saying that while people had the right to protest, "riots and acts of vandalism such as the storming of the House of Representatives headquarters late yesterday in Tobruk are totally unacceptable".

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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.

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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

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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.”

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Bert van Marwijk factfile

Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder

Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia

Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands

FIRST TEST SCORES

England 458
South Africa 361 & 119 (36.4 overs)

England won by 211 runs and lead series 1-0

Player of the match: Moeen Ali (England)

 

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British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

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It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
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A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
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Updated: June 20, 2023, 6:04 AM