A villager walks through the cracked bottom of a dried-out pond on a hot summer day at Bandai village in Pali district, Rajasthan, last week. AFP
A villager walks through the cracked bottom of a dried-out pond on a hot summer day at Bandai village in Pali district, Rajasthan, last week. AFP
A villager walks through the cracked bottom of a dried-out pond on a hot summer day at Bandai village in Pali district, Rajasthan, last week. AFP
A villager walks through the cracked bottom of a dried-out pond on a hot summer day at Bandai village in Pali district, Rajasthan, last week. AFP


India beat famine once – now it needs to tackle climate change


  • English
  • Arabic

May 24, 2022

Three powerful forces rippled across South Asia this spring, touching the lives of billions.

The first was a heat wave in northern India and Pakistan that was so severe that birds are dropping from the sky from heat stroke. The second was Cyclone Asani, which hurtled across the Bay of Bengal towards eastern India and Bangladesh, bringing on shore the threat of rain and huge flood damage. The third was a painful hike in oil and gas prices following Russia’s invasion of Ukraine that thanks to expensive subsidies is draining government coffers instead of household budgets.

Although reported as separate events, they are best understood as three facets of the same problem: the acceleration of climate change fuelled by South Asia’s increasingly carbon-hungry economies. And while governments are adopting ambitious climate action goals, events are moving much too quickly for policy making and implementation.

A case in point is the commitment Indian Prime Minister Narendra Modi made at last year's UN Climate Change Conference to achieve "net-zero" greenhouse gas emissions. Mr Modi received praise for breaking with decades of government policy. Unfortunately, though, the chosen target date of 2070 is literally 20 years past the 2050 threshold identified by scientific consensus as the tipping point for catastrophic change.

South Asia as a whole has a vested interest in making the energy transition sooner than later

India matters on the global climate stage because it is now the third-largest emitter of greenhouse gases after the US and China, and its share of global totals may even increase as its economy continues to grow. Indeed, successive governments have focused on delivering economic growth by expanding manufacturing, which requires ever larger quantities of affordable energy. Although there is a meaningful push towards wind and solar energy, as well as an increased use of electric vehicles, renewables are largely intended to replace oil and gas, which are largely imported and therefore expensive and insecure.

However, the bulk of power generation, which produces three times as much greenhouse gases as transportation, will continue to come from coal. Emissions-wise, coal is the most dangerous of all fossil fuels, but because it is domestically produced it is also the cheapest of all. In fact, it appears that New Delhi's plan is to expand its use until it becomes uneconomical – hence the 2070 date.

As recent events suggest, huge swathes of the Indian subcontinent might simply be unlivable by then, creating cascading conditions too overwhelming for future governments to cope with. South Asia is already more vulnerable to the human impact of climate change than almost any other place in the world. It is one of the most water-stressed regions globally, and especially vulnerable to mass displacement from rising sea levels in the Bay of Bengal. As a result, global institutions such as the World Bank and International Monetary Fund rank that part of the world at the very top for climate risks.

High tides approach shore due to the formation of cyclonic storm Asani in the Bay of Bengal, at Foreshore Estate beach in Chennai, last week. EPA
High tides approach shore due to the formation of cyclonic storm Asani in the Bay of Bengal, at Foreshore Estate beach in Chennai, last week. EPA

South Asia as a whole has a vested interest in making the energy transition sooner than later, a motive that transcends the question of western pressures and hypocrisy. Decarbonising the economy is about far more than looking "responsible" in international forums. It is about acting while there is still time to avert widespread food insecurity, damage to private and public property and political instability.

All this may sound unprecedented, perhaps even overwhelming, but the region faced an existential challenge in the 1950s and 60s. An exploding population and repeated crop failures offered the prospect of ever-worsening hunger. But instead of falling prey to famines and a permanent dependence on American food aid, the region rapidly expanded grain production from the mid-1960s onwards. This was thanks to an agri-technology partnership between a range of institutions in the US on the one hand and the governments of India and Pakistan on the other.

The region benefited immensely from the so-called Green Revolution – and now it is time for another, only on a bigger and broader scale.

The possibility of a repeat certainly exists. South Asia, and India in particular, has the capital, the talent and the entrepreneurial energy that is simply raring to go and capable of building new ventures either on its own or in technical and financial partnerships with counterparts in the US and EU. The only thing missing is urgency of the sort governments showed in the 1960s.

The Green Revolution played a significant part in helping South Asian countries transform themselves from low-income economies into middle-income ones. Investing in new technologies instead of holding on to polluting old ones could provide a similar boost. But that promise of "green growth" only holds if governments commit to change sooner rather than later. If they wait too long, the only opportunities left will be minimising losses rather than making gains.

Norman Borlaug, the late American agronomist, played a major role in India's 'Green Revolution'. Getty Images
Norman Borlaug, the late American agronomist, played a major role in India's 'Green Revolution'. Getty Images
British Prime Minister Boris Johnson and Indian Prime Minister Narendra Modi attend Cop26 in Glasgow last November. Reuters
British Prime Minister Boris Johnson and Indian Prime Minister Narendra Modi attend Cop26 in Glasgow last November. Reuters

It should be remembered that despite international collaboration, the Green Revolution strengthened both India and Pakistan’s sovereignty through food security. Although the US provided improved seed varieties and the requisite training, the processes involved were soon indigenised, allowing both countries to press on irrespective of the ebbs and flows in their relations with Washington in the subsequent years.

Today, South Asia cannot count on sustained American leadership to save it from a climate catastrophe. The US elected Donald Trump to the presidency in 2016 in part because of the grassroots appeal of his climate denialism. Mr Trump, or someone with his worldview, could win the presidency in 2024. Concerns about such a possibility should provide governments in the subcontinent the motivation to lock in collaborations with the US while the political atmosphere in Washington is still favourable.

The interplay between ocean, atmosphere, ecology, technology, economy and politics may seem too much for the general public to grasp, but this is where South Asia’s everyday institutions need to step up. From newspapers to television, schools and universities, the climate question needs to move from the periphery to the centre of the national conversations, alongside more household topics such as economic growth and national unity.

After all, without timely climate action, it is unclear if the survival or let alone growth of nation states will remain possible.

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%3Cp%3E-%20US%20Congress%20is%20divided%20into%20two%20chambers%3A%20the%20House%20of%20Representatives%20and%20Senate%3C%2Fp%3E%0A%3Cp%3E-%20435%20members%20make%20up%20the%20House%2C%20and%20100%20in%20the%20Senate%3C%2Fp%3E%0A%3Cp%3E-%20A%20party%20needs%20control%20of%20218%20seats%20to%20have%20a%20majority%20in%20the%20House%3C%2Fp%3E%0A%3Cp%3E-%20In%20the%20Senate%2C%20a%20party%20needs%20to%20hold%2051%20seats%20for%20control%3C%2Fp%3E%0A%3Cp%3E-%20In%20the%20event%20of%20a%2050-50%20split%2C%20the%20vice%20president's%20party%20retains%20power%20in%20the%20Senate%3C%2Fp%3E%0A
KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Wes%20Ball%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Owen%20Teague%2C%20Freya%20Allen%2C%20Kevin%20Durand%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A
BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

CHATGPT%20ENTERPRISE%20FEATURES
%3Cp%3E%E2%80%A2%20Enterprise-grade%20security%20and%20privacy%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Unlimited%20higher-speed%20GPT-4%20access%20with%20no%20caps%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Longer%20context%20windows%20for%20processing%20longer%20inputs%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Advanced%20data%20analysis%20capabilities%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Customisation%20options%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shareable%20chat%20templates%20that%20companies%20can%20use%20to%20collaborate%20and%20build%20common%20workflows%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Analytics%20dashboard%20for%20usage%20insights%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Free%20credits%20to%20use%20OpenAI%20APIs%20to%20extend%20OpenAI%20into%20a%20fully-custom%20solution%20for%20enterprises%3C%2Fp%3E%0A
Match info

Costa Rica 0

Serbia 1
Kolarov (56')

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

Cricket World Cup League 2

UAE results
Lost to Oman by eight runs
Beat Namibia by three wickets
Lost to Oman by 12 runs
Beat Namibia by 43 runs

UAE fixtures
Free admission. All fixtures broadcast live on icc.tv

Tuesday March 15, v PNG at Sharjah Cricket Stadium
Friday March 18, v Nepal at Dubai International Stadium
Saturday March 19, v PNG at Dubai International Stadium
Monday March 21, v Nepal at Dubai International Stadium

Marathon results

Men:

 1. Titus Ekiru(KEN) 2:06:13 

2. Alphonce Simbu(TAN) 2:07:50 

3. Reuben Kipyego(KEN) 2:08:25 

4. Abel Kirui(KEN) 2:08:46 

5. Felix Kemutai(KEN) 2:10:48  

Women:

1. Judith Korir(KEN) 2:22:30 

2. Eunice Chumba(BHR) 2:26:01 

3. Immaculate Chemutai(UGA) 2:28:30 

4. Abebech Bekele(ETH) 2:29:43 

5. Aleksandra Morozova(RUS) 2:33:01  

Indoor cricket in a nutshell

Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full

The Bloomberg Billionaire Index in full

1 Jeff Bezos $140 billion
2 Bill Gates $98.3 billion
3 Bernard Arnault $83.1 billion
4 Warren Buffett $83 billion
5 Amancio Ortega $67.9 billion
6 Mark Zuckerberg $67.3 billion
7 Larry Page $56.8 billion
8 Larry Ellison $56.1 billion
9 Sergey Brin $55.2 billion
10 Carlos Slim $55.2 billion

The specs: 2017 Porsche 718 Cayman

Price, base / as tested Dh222,500 / Dh296,870

Engine 2.0L, flat four-cylinder

Transmission Seven-speed PDK

Power 300hp @ 6,500rpm

Torque 380hp @ 1,950rpm

Fuel economy, combined 6.9L / 100km

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%3Cp%3E%0D%3Cstrong%3EDiet%3C%2Fstrong%3E%20%0D%3Cbr%3E7am%20-%20Protein%20shake%20with%20oats%20and%20fruits%0D%3Cbr%3E10am%20-%205-6%20egg%20whites%0D%3Cbr%3E1pm%20-%20White%20rice%20or%20chapati%20(Indian%20bread)%20with%20chicken%0D%3Cbr%3E4pm%20-%20Dry%20fruits%20%0D%3Cbr%3E7.30pm%20-%20Pre%20workout%20meal%20%E2%80%93%20grilled%20fish%20or%20chicken%20with%20veggies%20and%20fruits%0D%3Cbr%3E8.30pm%20to%20midnight%20workout%0D%3Cbr%3E12.30am%20%E2%80%93%20Protein%20shake%20%0D%3Cbr%3E%3Cstrong%3ETotal%20intake%3A%3C%2Fstrong%3E%204000-4500%20calories%20%0D%3Cbr%3E%3Cstrong%3ESaidu%E2%80%99s%20weight%3A%3C%2Fstrong%3E%20110%20kg%0D%3Cbr%3E%3Cstrong%3EStats%3A%3C%2Fstrong%3E%20Biceps%2019%20inches.%20Forearms%2018%20inches%3C%2Fp%3E%0A
Building boom turning to bust as Turkey's economy slows

Deep in a provincial region of northwestern Turkey, it looks like a mirage - hundreds of luxury houses built in neat rows, their pointed towers somewhere between French chateau and Disney castle.

Meant to provide luxurious accommodations for foreign buyers, the houses are however standing empty in what is anything but a fairytale for their investors.

The ambitious development has been hit by regional turmoil as well as the slump in the Turkish construction industry - a key sector - as the country's economy heads towards what could be a hard landing in an intensifying downturn.

After a long period of solid growth, Turkey's economy contracted 1.1 per cent in the third quarter, and many economists expect it will enter into recession this year.

The country has been hit by high inflation and a currency crisis in August. The lira lost 28 per cent of its value against the dollar in 2018 and markets are still unconvinced by the readiness of the government under President Recep Tayyip Erdogan to tackle underlying economic issues.

The villas close to the town centre of Mudurnu in the Bolu region are intended to resemble European architecture and are part of the Sarot Group's Burj Al Babas project.

But the development of 732 villas and a shopping centre - which began in 2014 - is now in limbo as Sarot Group has sought bankruptcy protection.

It is one of hundreds of Turkish companies that have done so as they seek cover from creditors and to restructure their debts.

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

Empty Words

By Mario Levrero  

(Coffee House Press)
 

Updated: May 24, 2022, 10:20 AM