Last weekend's parliamentary elections have secured Algeria's leading party, the Front de Libération Nationale, (FLN) the most seats in parliament, with the Islamist, Mouvement de la Société pour la Paix, (MSP) coming in second.
President Tebboune had his own interpretation of how things were going to shape up
However, with only 105 seats of the 407 seat chamber secured, the FLN have fallen short of the 204 seats required for an overall majority.
Negotiations must now begin to form a government capable of commanding a majority with opposition parties, including the MSP, who won 64 seats, with the country's independents gaining 78 seats collectively.
Despite their Islamist credentials and Muslim Brotherhood affiliation, the MSP are far from political outliers. Until 2012 the MSP had governed Algeria as part of a political triumvirate alongside the FLN and the Rassemblement National Démocratique, (RND) and, at least among civil society groups, are widely seen as part of the established political cadre.
Algeria's legislative elections had initially been slated for 2022. However, following pressure brought on by the mass protest movement, or Hirak, that have roiled the country since 2019, they were brought forward in February of this year.
Protesters had returned to the streets following a months' long hiatus brought on by the Covid-19 pandemic.
Algeria's President, Abdelmadjid Tebboune had pitched the vote as a reaction to the initial demands of the leaderless Hirak, claiming a mandate to build a "new Algeria" after years of political and economic stagnation.
Announcing the results last night, the head of the electoral body, the Autorité nationale indépendante des élections (ANIE) Mohamed Chorfi said, "The dynamic of peaceful change that was launched (with the hirak) is being strengthened.”
However, any claims of a broad democratic mandate for the new government will likely be undercut by a participation rate of just 30.2 per cent, itself subject to question following an unexplained surge in voter numbers as polling stations were set to close.
Nevertheless, disregarding the accuracy of the tally, this remains the lowest turnout in any legislative vote for twenty years with many of the country's principal opposition parties boycotting the vote.
This is the third nationwide poll to be held by President Tebboune since assuming office in December 2019, none of which have garnered the kind of participation as had been hoped for.
President Tebboune's own election involved less than 40 per cent of the population, the lowest turnout since the country gained independence in 1962. A subsequent referendum in November of last year drew less than a quarter of the population.
The Hirak endures
Regardless of its shrinking numbers, the Hirak remains the dominant force in Algeria's street politics. Looking to the increased militancy of the protesters, some observers – seemingly including both the leader of the MSP, Abderrazak Makri and President Tebboune , believed the movement was a sign of growing sympathy towards political Islamism.
In the build up to the election, President Tebboune, an independent, gave high profile interviews to both Al Jazeera and the French magazine, Le Point, where he appeared amenable to working alongside an Islamist Prime Minister.
Speaking on Sunday, before being contradicted by ANIE, Mr Makri congratulated voters on their choice, before warning against attempts to reverse the results, as he claimed had happened under Algeria's previous President, Abdelaziz Bouteflika.
"I think President Tebboune had his own interpretation of how things were going to shape up and essentially bet on an Islamist Prime Minister," Jalel Harchaoui at Global Initiative said. "If that had worked out well, Tebboune could have renewed his legitimacy while remaining above it all as president."
For Mr Harchaoui, attempting to read the runes of the leaderless Hirak was always destined to prove an exercise in futility.
"It's predominantly a spontaneous movement driven by grievances," he said, "Islamists enjoy a form of sympathy among some strands of Hirak, it's true, but they're not the Hirak."
Nevertheless, the relative victory of the FLN has contradicted such hopes and – surrounded by a closed clique of army officers, trade unionists and business people – has highlighted the potential vulnerability of Algeria's President.
Mr Harchaoui recalled the lengthy period of time earlier this year when President Tebboune was admitted to hospital in Germany with Coronavirus.
"President Tebboune was out of circulation for a while and nothing really happened," Mr Harchaoui said, "so, that means Algeria either has a great political system that can continue to function perfectly on the strength of a few phone calls between a sick president and the army, or that President Tebboune is in fact politically isolated in the greater scheme of things. I mean, a few foreign policy decisions were delayed, but that was about it."
In the short term, however, it will be the voice of the Hirak that renders judgement on last weekend's legislative elections.
Questions remain over how long a leaderless movement, galvanised predominantly by grievance and a sense of injustice can continue in its current form. Whatever might take its place remains to be seen.
Mohammed bin Zayed Majlis
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
If you go
The flights Etihad (www.etihad.com) and Spice Jet (www.spicejet.com) fly direct from Abu Dhabi and Dubai to Pune respectively from Dh1,000 return including taxes. Pune airport is 90 minutes away by road.
The hotels A stay at Atmantan Wellness Resort (www.atmantan.com) costs from Rs24,000 (Dh1,235) per night, including taxes, consultations, meals and a treatment package.
RACE CARD
6.30pm: Handicap (Turf) US$175,000 1,000m
7.05pm: Al Bastakiya Trial Conditions (Dirt) $100,000 1,900m
7.40pm: Al Rashidiya Group 2 (T) $250,000 1,800m
8.15pm: Handicap (D) $135,000 2,000m
8.50pm: Al Fahidi Fort Group 2 (T) $250,000 1,400m
9.25pm: Handicap (T) $135,000 2,410m.
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Killing of Qassem Suleimani
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Paris Can Wait
Dir: Eleanor Coppola
Starring: Alec Baldwin, Diane Lane, Arnaud Viard
Two stars
UAE currency: the story behind the money in your pockets
Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
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
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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MAIN CARD
Bantamweight 56.4kg
Abrorbek Madiminbekov v Mehdi El Jamari
Super heavyweight 94 kg
Adnan Mohammad v Mohammed Ajaraam
Lightweight 60kg
Zakaria Eljamari v Faridoon Alik Zai
Light heavyweight 81.4kg
Mahmood Amin v Taha Marrouni
Light welterweight 64.5kg
Siyovush Gulmamadov v Nouredine Samir
Light heavyweight 81.4kg
Ilyass Habibali v Haroun Baka
The Comeback: Elvis And The Story Of The 68 Special
Simon Goddard
Omnibus Press
The details
Heard It in a Past Life
Maggie Rogers
(Capital Records)
3/5
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
Bareilly Ki Barfi
Directed by: Ashwiny Iyer Tiwari
Starring: Kriti Sanon, Ayushmann Khurrana, Rajkummar Rao
Three and a half stars
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.”
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
A list of the animal rescue organisations in the UAE
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Gulf Under 19s final
Dubai College A 50-12 Dubai College B