• Marwan Barghouti's wife, Fadwa, right, leaves the Palestinian Central Election Commission office after registering her husband's list for the upcoming parliamentary election in May, in the West Bank city of Ramallah, March 31, 2021. AP Photo
    Marwan Barghouti's wife, Fadwa, right, leaves the Palestinian Central Election Commission office after registering her husband's list for the upcoming parliamentary election in May, in the West Bank city of Ramallah, March 31, 2021. AP Photo
  • Former Fatah official Nasser al-Kidwa, center left, and Marwan Barghouti's wife, Fadwa, center right, leave the Palestinian Central Election Commission office after registering their joint list for the upcoming parliamentary election in May, in the West Bank city of Ramallah. AP Photo
    Former Fatah official Nasser al-Kidwa, center left, and Marwan Barghouti's wife, Fadwa, center right, leave the Palestinian Central Election Commission office after registering their joint list for the upcoming parliamentary election in May, in the West Bank city of Ramallah. AP Photo
  • Marwan Barghouti, a popular Palestinian uprising leader imprisoned by Israel, has submitted an independent list of candidates to run in the upcoming parliamentary elections. AP Photo
    Marwan Barghouti, a popular Palestinian uprising leader imprisoned by Israel, has submitted an independent list of candidates to run in the upcoming parliamentary elections. AP Photo
  • Senior Fatah official Jibril Rajoub, center, arrives at the Palestinian Central Election Commission office to register the party's official list for the upcoming parliamentary election in May, in the West Bank city of Ramallah. AP Photo
    Senior Fatah official Jibril Rajoub, center, arrives at the Palestinian Central Election Commission office to register the party's official list for the upcoming parliamentary election in May, in the West Bank city of Ramallah. AP Photo

Mahmoud Abbas challenger says Palestinian president is ‘ultimately responsible’ for official corruption


Nada AlTaher
  • English
  • Arabic

Nasser Al Kidwa’s discontent with Palestine’s ruling Fatah faction was years in the making.

After five decades, he was expelled from Palestinian President Mahmoud Abbas's party and joined forces with one of Palestine's most prominent political figures, Marwan Al Barghouti, for legislative elections in May.

"And then came, of course, a campaign of intimidation, a campaign of threats [and] all kinds of media attacks [by Fatah]," Mr Al Kidwa told The National.

Mr Al Barghouti will run in presidential elections set to take place later this year, Mr Al Kidwa said, confirming reports that the jailed leader is not only backing the move against Fatah but will be directly challenging Mr Abbas.

A nephew of former Palestinian president Yasser Arafat, Mr Al Kidwa's aspirations for change face a slew of challenges after decades of unaddressed endemic issues, including "largely dysfunctional [government] institutions" and deep-seated public distrust in officials.

A poll of 1,200 adults by the Palestinian Centre for Policy and Survey Research found that 84 per cent believed the Palestinian Authority is corrupt.

Mr Al Kidwa agrees.

“It is the biggest internal issue affecting the people the most right now,” he said. “And Mahmoud Abbas is ultimately responsible.”

Mr Al Kidwa said his Freedom list wanted to change the status quo of poor governance, legal inequality and diminished freedom of expression in the occupied territories after 15 years of Fatah rule.

“It’s going to be sweaty. It might even be bloody. We have to be prepared for all difficulties that might face us. But the bottomline is this: we don’t have a choice. Things reached a point where we either go down the drain or we stand up and say: enough is enough.”

The fate any Palestinian politician found guilty of corruption would lie in the hands of the Palestinian parliament, which has been defunct for more than a decade but could play a more vital role in the political scene after the legislative elections.

  • Marwan Barghouti's wife, Fadwa, right, leaves the Palestinian Central Election Commission office after registering her husband's list for the upcoming parliamentary election in May, in the West Bank city of Ramallah, March 31, 2021. AP Photo
    Marwan Barghouti's wife, Fadwa, right, leaves the Palestinian Central Election Commission office after registering her husband's list for the upcoming parliamentary election in May, in the West Bank city of Ramallah, March 31, 2021. AP Photo
  • Former Fatah official Nasser al-Kidwa, center left, and Marwan Barghouti's wife, Fadwa, center right, leave the Palestinian Central Election Commission office after registering their joint list for the upcoming parliamentary election in May, in the West Bank city of Ramallah. AP Photo
    Former Fatah official Nasser al-Kidwa, center left, and Marwan Barghouti's wife, Fadwa, center right, leave the Palestinian Central Election Commission office after registering their joint list for the upcoming parliamentary election in May, in the West Bank city of Ramallah. AP Photo
  • Marwan Barghouti, a popular Palestinian uprising leader imprisoned by Israel, has submitted an independent list of candidates to run in the upcoming parliamentary elections. AP Photo
    Marwan Barghouti, a popular Palestinian uprising leader imprisoned by Israel, has submitted an independent list of candidates to run in the upcoming parliamentary elections. AP Photo
  • Senior Fatah official Jibril Rajoub, center, arrives at the Palestinian Central Election Commission office to register the party's official list for the upcoming parliamentary election in May, in the West Bank city of Ramallah. AP Photo
    Senior Fatah official Jibril Rajoub, center, arrives at the Palestinian Central Election Commission office to register the party's official list for the upcoming parliamentary election in May, in the West Bank city of Ramallah. AP Photo

"Of course there are people above the law" in the Fatah government, Mr Al Kidwa said.

The road ahead for the first Palestinian legislative elections in 15 years is also murky as the Palestinian Authority insists they will not be held if Israel refuses to allow voting in east Jerusalem.

Analysts believe this could be a way out of holding the elections for Mr Abbas, who is trailing in polls against the Barghouti-Kidwa alliance.

“With or without elections, things have already changed in the street," Mr Al Kidwa said.

"People broke the barrier of fear. For the first time in a long time, there is a discussion of political issues and new government."

UAE currency: the story behind the money in your pockets
Company profile

Company: Eighty6 

Date started: October 2021 

Founders: Abdul Kader Saadi and Anwar Nusseibeh 

Based: Dubai, UAE 

Sector: Hospitality 

Size: 25 employees 

Funding stage: Pre-series A 

Investment: $1 million 

Investors: Seed funding, angel investors  

About Housecall

Date started: July 2020

Founders: Omar and Humaid Alzaabi

Based: Abu Dhabi

Sector: HealthTech

# of staff: 10

Funding to date: Self-funded

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

UAE central contracts

Full time contracts

Rohan Mustafa, Ahmed Raza, Mohammed Usman, Chirag Suri, Mohammed Boota, Sultan Ahmed, Zahoor Khan, Junaid Siddique, Waheed Ahmed, Zawar Farid

Part time contracts

Aryan Lakra, Ansh Tandon, Karthik Meiyappan, Rahul Bhatia, Alishan Sharafu, CP Rizwaan, Basil Hameed, Matiullah, Fahad Nawaz, Sanchit Sharma

The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WonderTree%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20April%202016%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Muhammad%20Waqas%20and%20Muhammad%20Usman%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Karachi%2C%20Pakistan%2C%20Abu%20Dhabi%2C%20UAE%2C%20and%20Delaware%2C%20US%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Special%20education%2C%20education%20technology%2C%20assistive%20technology%2C%20augmented%20reality%3Cbr%3EN%3Cstrong%3Eumber%20of%20staff%3A%20%3C%2Fstrong%3E16%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EGrowth%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Grants%20from%20the%20Lego%20Foundation%2C%20UAE's%20Anjal%20Z%2C%20Unicef%2C%20Pakistan's%20Ignite%20National%20Technology%20Fund%3C%2Fp%3E%0A
Who are the Sacklers?

The Sackler family is a transatlantic dynasty that owns Purdue Pharma, which manufactures and markets OxyContin, one of the drugs at the centre of America's opioids crisis. The family is well known for their generous philanthropy towards the world's top cultural institutions, including Guggenheim Museum, the National Portrait Gallery, Tate in Britain, Yale University and the Serpentine Gallery, to name a few. Two branches of the family control Purdue Pharma.

Isaac Sackler and Sophie Greenberg were Jewish immigrants who arrived in New York before the First World War. They had three sons. The first, Arthur, died before OxyContin was invented. The second, Mortimer, who died aged 93 in 2010, was a former chief executive of Purdue Pharma. The third, Raymond, died aged 97 in 2017 and was also a former chief executive of Purdue Pharma. 

It was Arthur, a psychiatrist and pharmaceutical marketeer, who started the family business dynasty. He and his brothers bought a small company called Purdue Frederick; among their first products were laxatives and prescription earwax remover.

Arthur's branch of the family has not been involved in Purdue for many years and his daughter, Elizabeth, has spoken out against it, saying the company's role in America's drugs crisis is "morally abhorrent".

The lawsuits that were brought by the attorneys general of New York and Massachussetts named eight Sacklers. This includes Kathe, Mortimer, Richard, Jonathan and Ilene Sackler Lefcourt, who are all the children of either Mortimer or Raymond. Then there's Theresa Sackler, who is Mortimer senior's widow; Beverly, Raymond's widow; and David Sackler, Raymond's grandson.

Members of the Sackler family are rarely seen in public.

The bio

Favourite vegetable: Broccoli

Favourite food: Seafood

Favourite thing to cook: Duck l'orange

Favourite book: Give and Take by Adam Grant, one of his professors at University of Pennsylvania

Favourite place to travel: Home in Kuwait.

Favourite place in the UAE: Al Qudra lakes

The Orwell Prize for Political Writing

Twelve books were longlisted for The Orwell Prize for Political Writing. The non-fiction works cover various themes from education, gender bias, and the environment to surveillance and political power. Some of the books that made it to the non-fiction longlist include: 

  • Appeasing Hitler: Chamberlain, Churchill and the Road to War by Tim Bouverie
  • Some Kids I Taught and What They Taught Me by Kate Clanchy
  • Invisible Women: Exposing Data Bias in a World Designed for Men by Caroline Criado Perez
  • Follow Me, Akhi: The Online World of British Muslims by Hussein Kesvani
  • Guest House for Young Widows: Among the Women of ISIS by Azadeh Moaveni
UAE currency: the story behind the money in your pockets
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street

The seven points are:

Shakhbout bin Sultan Street

Dhafeer Street

Hadbat Al Ghubainah Street (outbound)

Salama bint Butti Street

Al Dhafra Street

Rabdan Street

Umm Yifina Street exit (inbound)

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.”