Lebanese prime minister-designate Najib Mikati leaves the office of President Michel Aoun after a meeting at the Presidential Palace in Baabda, east of Beirut. EPA
Lebanese prime minister-designate Najib Mikati leaves the office of President Michel Aoun after a meeting at the Presidential Palace in Baabda, east of Beirut. EPA
Lebanese prime minister-designate Najib Mikati leaves the office of President Michel Aoun after a meeting at the Presidential Palace in Baabda, east of Beirut. EPA
Lebanese prime minister-designate Najib Mikati leaves the office of President Michel Aoun after a meeting at the Presidential Palace in Baabda, east of Beirut. EPA

Lebanon's PM-designate begins talks on government formation


Elias Sakr
  • English
  • Arabic

Lebanon’s prime minister-designate Najib Mikati began discussions on forming a new Cabinet on Tuesday in the latest bid to break the political deadlock in the country.

Mr Mikati, a billionaire businessmen and two-time former prime minister, said he hoped a Cabinet would be formed soon.

He held talks with parliamentary blocs before meeting President Michel Aoun.

“I informed the president in detail on the non-binding parliamentary consultations, and stressed the importance of forming a government as soon as possible,” Mr Mikati said.

“Opinions are aligned to a very large extent and we will hold successive meetings in coming days, and, God willing, we will have a government soon."

The formation of a Cabinet has been a long-held demand among the international community, led by the US and France. Both say financial support is contingent on the introduction of reforms to fight against corruption and revive the economy.

On Monday, the EU and France urged Lebanon’s political leaders to form a government without delay.

We call on the Lebanese political leaders to cooperate and allow for the swift formation of a credible and capable government, in the interest of the people of Lebanon
EU statement

“It is now of crucial importance that a credible and accountable government is formed in Lebanon without delay, one that is able to address the severe economic and social crises the country is facing,” the EU said in a statement.

“We call on the Lebanese political leaders to co-operate and allow for the swift formation of a credible and capable government, in the interest of the people of Lebanon,” it said.

Mr Mikati had said that he was confident he could form a government to enact the French-sponsored reform initiative but that success hinged on the “co-operation of all Lebanese”.

His designation to succeed Saad Hariri, who stepped down as prime minister-designate after 10 months of disputes with Mr Aoun, was backed by major parties across the political spectrum.

Gebran Bassil has said his Free Patriotic Movement will not take part in a new government led by Najib Mikati. Reuters
Gebran Bassil has said his Free Patriotic Movement will not take part in a new government led by Najib Mikati. Reuters

But his nomination lacked the support of any major Christian group, including Gebran Bassil, Mr Aoun’s son-in-law and leader of the largest parliamentary bloc.

Mr Bassil informed Mr Mikati on Tuesday that the Free Patriotic Movement, a party founded by Mr Aoun, would not take part in his government.

But Mr Bassil did not rule out granting Mr Mikati’s government a vote of confidence in Parliament were a Cabinet to be formed in agreement with the president.

That would depend on the “Cabinet’s line-up and agenda", Mr Bassil said.

An ally of the Iran-backed Hezbollah, Mr Bassil had sparred for months with Mr Hariri, accusing him of seeking to dictate the Cabinet line-up in violation of the constitution, which requires both the president and prime minister to sign off on the government.

Mr Hariri stepped down after talks with the president hit a dead end, and he accused Mr Aoun of blocking the formation of a government of non-partisan experts in which Mr Bassil would lack any veto power.

Mohammad Raad, head of Hezbollah's parliamentary bloc and an ally of Mr Bassil, held talks with Mr Mikati on Tuesday.

Mr Raad said he emphasised the importance of forming a government that brings together experts with “experience in public life".

The political tug of war has left Lebanon without a functioning government since the massive Beirut blast last August that deepened Lebanon’s economic and financial woes.

The blast killed more than 200 people and destroyed large parts of the capital.

More than half the country's population lives below the poverty line, while shortages in fuel are disrupting electricity and water supplies and causing frequent cuts to the internet.

TCL INFO

Teams:
Punjabi Legends 
Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Fast%20X
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COMPANY PROFILE
Name: Akeed

Based: Muscat

Launch year: 2018

Number of employees: 40

Sector: Online food delivery

Funding: Raised $3.2m since inception 

Aayan%E2%80%99s%20records
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'Unrivaled: Why America Will Remain the World’s Sole Superpower'
Michael Beckley, Cornell Press

Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

Past winners of the Abu Dhabi Grand Prix

2016 Lewis Hamilton (Mercedes-GP)

2015 Nico Rosberg (Mercedes-GP)

2014 Lewis Hamilton (Mercedes-GP)

2013 Sebastian Vettel (Red Bull Racing)

2012 Kimi Raikkonen (Lotus)

2011 Lewis Hamilton (McLaren)

2010 Sebastian Vettel (Red Bull Racing)

2009 Sebastian Vettel (Red Bull Racing)

 

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

How to get there

Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
 

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
Ahmed Raza

UAE cricket captain

Age: 31

Born: Sharjah

Role: Left-arm spinner

One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95

T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

Recent winners

2002 Giselle Khoury (Colombia)

2004 Nathalie Nasralla (France)

2005 Catherine Abboud (Oceania)

2007 Grace Bijjani  (Mexico)

2008 Carina El-Keddissi (Brazil)

2009 Sara Mansour (Brazil)

2010 Daniella Rahme (Australia)

2011 Maria Farah (Canada)

2012 Cynthia Moukarzel (Kuwait)

2013 Layla Yarak (Australia)              

2014 Lia Saad  (UAE)

2015 Cynthia Farah (Australia)

2016 Yosmely Massaad (Venezuela)

2017 Dima Safi (Ivory Coast)

2018 Rachel Younan (Australia)

Ziina users can donate to relief efforts in Beirut

Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”

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

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The specs

Price, base / as tested Dh12 million

Engine 8.0-litre quad-turbo, W16

Gearbox seven-speed dual clutch auto

Power 1479 @ 6,700rpm

Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds

Top speed 420 kph (governed)

Fuel economy, combined 35.2L / 100km (est)

Results

Stage Two:

1. Mark Cavendish (GBR) QuickStep-AlphaVinyl 04:20:45

2. Jasper Philipsen (BEL) Alpecin-Fenix

3. Pascal Ackermann (GER) UAE Team Emirates

4. Olav Kooij (NED) Jumbo-Visma

5. Arnaud Demare (FRA) Groupama-FDJ

General Classification:

1. Jasper Philipsen (BEL) Alpecin-Fenix 09:03:03

2. Dmitry Strakhov (RUS) Gazprom-Rusvelo 00:00:04

3. Mark Cavendish (GBR) QuickStep-AlphaVinyl 00:00:06

4. Sam Bennett (IRL) Bora-Hansgrohe 00:00:10

5. Pascal Ackermann (GER) UAE Team Emirates 00:00:12

Updated: July 27, 2021, 6:29 PM