Syrian President Bashar Al Assad at a Baath party central committee meeting in Damascus this month. AFP
Syrian President Bashar Al Assad at a Baath party central committee meeting in Damascus this month. AFP
Syrian President Bashar Al Assad at a Baath party central committee meeting in Damascus this month. AFP
Syrian President Bashar Al Assad at a Baath party central committee meeting in Damascus this month. AFP

Syria to elect parliament in July after Assad makes changes in ruling Baath party


Khaled Yacoub Oweis
  • English
  • Arabic

Syria will hold its next parliamentary election in mid-July, state media reported, after President Bashar Al Assad made changes to the ruling Baath party command amid a deterioration in the economy and a civil war in its second decade.

The 250-member People's Assembly, which serves four-year terms, is a rubber-stamp legislature that has been controlled by the Baath party since it came to power in a 1963 coup.

Since the civil war began in 2011, the election has been seen as a barometer of influence among the ruling elite. These include new players in the war economy and militias that now underpin the system, together with the security apparatus that is dominated by members of the Alawite minority to which Mr Al Assad belongs.

The official news agency, Sana, on Saturday reported the President had signed a decree setting July 15 as the date for the election.

The authorities have kept in place decades-long regulations that de facto allocate two thirds of the seats to the Baath party and the National Progressive Front, a largely moribund constellation of loyalist political groups headed by the Baath.

Ayman Abdel Nour, a veteran Syrian political commentator, said that the election this year was set up to bring in a new "flavour" to revitalise the Baath party.

Mr Abdel Nour said Mr Al Assad had signalled to the security agencies not to interfere in the party's internal election that resulted in new faces in its leadership this month, although the President retained the post of secretary general.

"He wanted to find out the currents within his base and the best way to do that was to let them compete," said Mr Abdel Nour, who worked with Mr Al Assad when he succeeded his father in the 2000 and now lives in exile in the US.

The new party leadership, of whom only nine out of 120 count politically, are now mostly in their 50s, considerably younger than their predecessors, he said. Among them is Ziad Ghuson, a loyalist journalist with a record of criticising the government's economic policies.

Mr Abdel Nour said the Baathists are now also expecting more leeway in running for the parliamentary seats reserved for them and their allies, which could entice more people to stand.

There are about 1.5 million Baath party members in Syria, out of about 20 million people in the country. Two thirds live in areas held by the Damascus government while the rest live in eastern areas under the control of Kurdish militias supported by the US, in the north under Sunni Arab militias supported by Turkey, and in the north-west, under an offshoot of the Al Qaeda-linked Nusra Front, which has channels with Ankara.

But regime control has not mitigated adverse economic conditions. The Syrian pound is trading at 14,700 to the dollar, compared to 50 pounds to the dollar in February 2011, the month before pro-democracy protests escalated into a civil war.

The turnout in the previous parliamentary election in July 2020 was 37 per cent, down from 57 per cent in 2016, according to government figures.

In the 2020 election, the Baath party primaries "were marked by limited participation, accusations of corruption and widespread objections", according to a report by the European University Institute in Florence.

This was because more military and paramilitary figures entered the assembly, as well as more businessmen, it said.

It said that "power outside the traditional [Baath] party structure" included figures supported by the President's wife, Asma Al Assad.

Switching%20sides
%3Cp%3EMahika%20Gaur%20is%20the%20latest%20Dubai-raised%20athlete%20to%20attain%20top%20honours%20with%20another%20country.%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVelimir%20Stjepanovic%20(Serbia%2C%20swimming)%20%3C%2Fstrong%3E%0D%3Cbr%3EBorn%20in%20Abu%20Dhabi%20and%20raised%20in%20Dubai%2C%20he%20finished%20sixth%20in%20the%20final%20of%20the%202012%20Olympic%20Games%20in%20London%20in%20the%20200m%20butterfly%20final.%20%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EJonny%20Macdonald%20(Scotland%2C%20rugby%20union)%20%3C%2Fstrong%3E%0D%3Cbr%3EBrought%20up%20in%20Abu%20Dhabi%20and%20represented%20the%20region%20in%20international%20rugby.%20When%20the%20Arabian%20Gulf%20team%20was%20broken%20up%20into%20its%20constituent%20nations%2C%20he%20opted%20to%20play%20for%20Scotland%20instead%2C%20and%20went%20to%20the%20Hong%20Kong%20Sevens.%20%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESophie%20Shams%20(England%2C%20rugby%20union)%20%3C%2Fstrong%3E%0D%3Cbr%3EThe%20daughter%20of%20an%20English%20mother%20and%20Emirati%20father%2C%20Shams%20excelled%20at%20rugby%20in%20Dubai%2C%20then%20after%20attending%20university%20in%20the%20UK%20played%20for%20England%20at%20sevens.%20%0D%3C%2Fp%3E%0A
Our family matters legal consultant

Name: Hassan Mohsen Elhais

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

THE BIO

Bio Box

Role Model: Sheikh Zayed, God bless his soul

Favorite book: Zayed Biography of the leader

Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet

Favorite food: seafood

Favorite place to travel: Lebanon

Favorite movie: Braveheart

THE%C2%A0SPECS
%3Cp%3EEngine%3A%204-cylinder%202.5-litre%20%2F%202-litre%20turbo%0D%3Cbr%3EPower%3A%20188hp%20%2F%20248hp%0D%3Cbr%3ETorque%3A%20244Nm%20%2F%20370Nm%0D%3Cbr%3ETransmission%3A%207-speed%20auto%0D%3Cbr%3EOn%20sale%3A%20now%0D%3Cbr%3EPrice%3A%20From%20Dh110%2C000%0D%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.”

How Apple's credit card works

The Apple Card looks different from a traditional credit card — there's no number on the front and the users' name is etched in metal. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. Its attributes include quick sign-up, elimination of most fees, strong security protections and cash back.

What does it cost?

Apple says there are no fees associated with the card. That means no late fee, no annual fee, no international fee and no over-the-limit fees. It also said it aims to have among the lowest interest rates in the industry. Users must have an iPhone to use the card, which comes at a cost. But they will earn cash back on their purchases — 3 per cent on Apple purchases, 2 per cent on those with the virtual card and 1 per cent with the physical card. Apple says it is the only card to provide those rewards in real time, so that cash earned can be used immediately.

What will the interest rate be?

The card doesn't come out until summer but Apple has said that as of March, the variable annual percentage rate on the card could be anywhere from 13.24 per cent to 24.24 per cent based on creditworthiness. That's in line with the rest of the market, according to analysts

What about security? 

The physical card has no numbers so purchases are made with the embedded chip and the digital version lives in your Apple Wallet on your phone, where it's protected by fingerprints or facial recognition. That means that even if someone steals your phone, they won't be able to use the card to buy things.

Is it easy to use?

Apple says users will be able to sign up for the card in the Wallet app on their iPhone and begin using it almost immediately. It also tracks spending on the phone in a more user-friendly format, eliminating some of the gibberish that fills a traditional credit card statement. Plus it includes some budgeting tools, such as tracking spending and providing estimates of how much interest could be charged on a purchase to help people make an informed decision. 

* Associated Press 

Stage 2

1. Mathieu van der Poel (NED) Alpecin-Fenix 4:18:30

2. Tadej Pogacar (SLV) UAE Team Emirates 0:00:06

3.  Primoz Roglic (SLV) Jumbo-Visma 0:00:06

4. Wilco Kelderman (NED) Bora-Hansgrohe 0:00:06

5. Julian Alaphilippe (FRA) Deceuninck-QuickStep 0:00:08

10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

Donating your hair

    •    Your hair should be least 30 cms long, as some of the hair is lost during manufacturing of the wigs.
    •    Clean, dry hair in good condition (no split ends) from any gender, and of any natural colour, is required.
    •    Straight, wavy, curly, permed or chemically straightened is permitted.
    •    Dyed hair must be of a natural colour
 

 

The biog

Born November 11, 1948
Education: BA, English Language and Literature, Cairo University
Family: Four brothers, seven sisters, two daughters, 42 and 39, two sons, 43 and 35, and 15 grandchildren
Hobbies: Reading and traveling

RESULTS

6.30pm Handicap (TB) US$65,000 (Dirt) 1,400m

Winner Golden Goal, Pat Dobbs (jockey), Doug Watson (trainer)

7.05pm Dubai Racing Club Classic Listed Handicap (TB) $88,000 (Turf) 2,410m

Winner: Walton Street, William Buick, Charlie Appleby.

7.40pm Dubai Stakes Group 3 (TB) $130,000 (D) 1,200m

Winner Switzerland, Tadhg O’Shea, Satish Seemar

8.15pm Singspiel Stakes Group 3 (TB) $163,000 (T) 1,800m

Winner Lord Giltters, Adrie de Vries, David O’Meara

8.50pm Al Maktoum Challenge Round-1 (TB) $228,000 (D) 1,600m

Winner Military Law, Antonio Fresu, Musabah Al Muhairi.

9.25pm Al Fahidi Fort Group 2 (TB) $163,000 (T) 1,400m

Winner Land Of Legends, Frankie Dettori, Saeed bin Suroor

10pm Dubai Dash Listed Handicap (TB) $88,000 (T) 1,000m

Winner Equilateral, Frankie Dettori, Charles Hills.

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

COMPANY%20PROFILE
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MATCH INFO

Fixture: Ukraine v Portugal, Monday, 10.45pm (UAE)

TV: BeIN Sports

MATCH INFO

Quarter-finals

Saturday (all times UAE)

England v Australia, 11.15am 
New Zealand v Ireland, 2.15pm

Sunday

Wales v France, 11.15am
Japan v South Africa, 2.15pm

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
UAE currency: the story behind the money in your pockets
THE SPECS

Engine: 1.5-litre, four-cylinder turbo

Transmission: seven-speed dual clutch automatic

Power: 169bhp

Torque: 250Nm

Price: Dh54,500

On sale: now

The National in Davos

We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.

Updated: May 12, 2024, 2:54 PM