Chitrabhanu Kadalayil is deputy comment editor at The National
October 26, 2022
Rishi Sunak’s meteoric rise to become the first British prime minister of Indian ancestry on Tuesday triggered celebrations in the subcontinent and among its diaspora. So historic was this moment for so many Indians desperate to shed their colonial baggage that it compelled wall-to-wall coverage on India’s social media and in its mainstream press.
“Indian son rises over an empire,” the news channel NDTV declared. “Sunak: Ex-India Company set to run Britain," screamed a headline on the front page of The Telegraph India. Its rival, The Times of India, went with “Rishi Sunak, a ‘proud Hindu’, is the new UK PM.”
There is an understandably triumphant feeling among many that 75 years after India won independence, an “Indian son” will run what remains of the British Empire. Emotional outpouring isn’t such a bad thing occasionally, whether it takes the form of hilarious memes or even some of the tasteless chest-thumping that was on display. But after the initial brouhaha, it’s important for Indians – and I speak as one – to acknowledge the progress that countries such as Britain have made towards building multicultural societies, which made possible the “rise of Rishi” – whatever one might make of his politics.
Just as critical is honest self-reflection.
Right to left: Rishi Sunak's father, Yashvir Sunak, mother, Usha Sunak, wife, Akshata Murthy, and Michael Gove cheer during an event at Wembley Arena, London in the campaign for Sunak to be leader of the Conservative Party, on August 31. PA Wire
The buzz around the “Indian son”, for instance, stands in stark contrast to how Sonia Gandhi, the longest-serving former head of India’s Congress party, was treated by fellow politicians and large sections of the electorate when she was on the cusp of becoming prime minister almost two decades ago. Born Sonia Maino into an Italian family, Mrs Gandhi moved to India after marrying former prime minister Rajiv Gandhi. After entering politics almost a decade after her husband’s assassination, she led the Congress party to parliamentary victories in 2004 and 2009. Yet, the prospect of an Italian-born prime minister of India was a bridge too far for the political class at the time. Mrs Gandhi’s patriotism having been questioned, she swiftly nominated Manmohan Singh to lead the government in both terms. The move was both selfless and politically astute, as it won Mrs Gandhi more admirers and drew to the party more voters.
Mrs Gandhi’s case isn’t point-for-point comparable with that of Mr Sunak – for one, she left Italy for India as an adult, while he was born and raised in Britain. But her example is relevant, with her having stepped down as party president on Wednesday presumably to retire from active politics, at a time when ethnic and religious minorities still find it challenging to reach the top of India’s political hierarchy. Dr Singh, it’s worth pointing out, remains the only non-Hindu prime minister India has ever had.
This is not to say that no progress has been made – on the contrary, Indian politics over the past four decades has empowered a large number of diverse caste groups all over the country – but there’s still some way to go before we see a Muslim, Dalit or tribal figure running New Delhi.
But how does one process the double standard that exists among those who even today cannot stomach a Sonia Gandhi rising to the top, while at the same time, cheering on a Rishi Sunak?
British Indians feel that Sunak’s ascension matters – because race still matters
For decades, Indians have been following closely the successful careers of the diaspora as well as of people of Indian origin – from the late astronaut Kalpana Chawla and US Vice President Kamala Harris to the current generation of CEOs commanding America’s largest corporations. Their successes are viewed as a “vindication of Indian excellence”, as the New York-based author Salil Tripathi told the BBC.
But while there is such a thing called merit, Indians sometimes fail to recognise that “Indian excellence” would remain a myth if not for the warm embrace of other countries. In fact, over the past 50 years, some 30 men and women of Indian or partially Indian origin have been either heads of government or state around the world, from South America to East Asia.
That they all rose to the top of their respective political structures is certainly a “vindication” of their “excellence”, hard work and, let’s face it, good fortune. But it’s also the result of the open immigration policies put in place decades ago in several of these countries, particularly the US and UK.
It's also the outcome of a political vision to create multicultural and meritocratic societies, where people can succeed irrespective of where they come from and what their ethnic, cultural and religious make-up is. It's for this reason that, as the Indian journalist Rajdeep Sardesai pointed out, Britain today has a “Hindu prime minister, a Muslim mayor of London and a Christian king”.
Back in 2005, Crispin Blunt, an MP from Mr Sunak’s Conservative party, expressed to me his desire to see Tories open the doors to the British-Indian community. He pointed to the aspirational nature of the community and its success in building its people up, despite the odds. Mr Blunt even predicted that British Indians will lead the party one day. Seventeen years later, he has been proven right.
It has been an uphill climb for Indian minorities living in the West, of course. Which is why today British Indians feel that Mr Sunak’s ascension matters – because race still matters.
As the author Sathnam Sanghera points out in his book Empireland, Indians were systematically excluded from top jobs in Britain as recently as the post-war era. In a recent tweet, he quoted George Curzon, the former viceroy of India, as having said: “There were no Indian natives in the Government of India because among all the 300 million people of the subcontinent, there was not a single man capable of the job.”
This is what, according Sanghera and others like him, makes Mr Sunak’s premiership symbolically significant going forward. However long he lasts in the rough and tumble of British politics, which still has to contend with racism and bigotry, he has become a “living bridge” for British Indians, as Indian Prime Minister Narendra Modi put it.
Despite Britain's continuing struggles with race relations, Mr Sunak’s story is about the positive impact of immigration – and it should inspire more such stories around the world.
Alas, in his own cabinet, Mr Sunak has colleagues who don't appreciate his story enough. It would take more than a sense of irony, certainly foolhardiness and a lack of foresight, if he were to cave in to their hard right-wing agendas and derail Britain’s immigration policies that he and his family and countless others directly benefited from, all in the name of canny politics.
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood. Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues. Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity. Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were experimenting with sticky tape and graphite, the material used as lead in pencils.
Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But when they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment led to graphene being isolated for the very first time.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics.
How The Debt Panel's advice helped readers in 2019
JL, a housewife from India, wrote to us about her husband, who died earlier this month. He left behind an outstanding loan of Dh240,000 and she was hoping to pay it off with an insurance policy he had taken out. She also wanted to recover some of her husband’s end-of-service liabilities to help support her and her son.
“I have no words to thank you for helping me out,” she wrote to The Debt Panel after receiving the panellists' comments. “The advice has given me an idea of the present status of the loan and how to take it up further. I will draft a letter and send it to the email ID on the bank’s website along with the death certificate. I hope and pray to find a way out of this.”
SL, a financial services employee from India, left the UAE in June after quitting his job because his employer had not paid him since November 2018. He owes Dh103,800 on four debts and was told by the panellists he may be able to use the insolvency law to solve his issue.
SL thanked the panellists for their efforts. "Indeed, I have some clarity on the consequence of the case and the next steps to take regarding my situation," he says. "Hopefully, I will be able to provide a positive testimony soon."
MS, an energy sector employee from South Africa, left the UAE in August after losing his Dh12,000 job. He was struggling to meet the repayments while securing a new position in the UAE and feared he would be detained if he returned. He has now secured a new job and will return to the Emirates this month.
“The insolvency law is indeed a relief to hear,” he says. "I will not apply for insolvency at this stage. I have been able to pay something towards my loan and credit card. As it stands, I only have a one-month deficit, which I will be able to recover by the end of December."
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
Tips for taking the metro
- set out well ahead of time
- make sure you have at least Dh15 on you Nol card, as there could be big queues for top-up machines
- enter the right cabin. The train may be too busy to move between carriages once you're on
- don't carry too much luggage and tuck it under a seat to make room for fellow passengers
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.”
Starring Dean-Charles Chapman, George MacKay, Daniel Mays
4.5/5
The Scale for Clinical Actionability of Molecular Targets
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Series info
Test series schedule 1st Test, Abu Dhabi: Sri Lanka won by 21 runs; 2nd Test, Dubai: Play starts at 2pm, Friday-Tuesday
ODI series schedule 1st ODI, Dubai: October 13; 2nd ODI, Abu Dhabi: October 16; 3rd ODI, Abu Dhabi: October 18; 4th ODI, Sharjah: October 20; 5th ODI, Sharjah: October 23
T20 series schedule 1st T20, Abu Dhabi: October 26; 2nd T20, Abu Dhabi: October 27; 3rd T20, Lahore: October 29
Tickets Available at www.q-tickets.com
Stat Fourteen Fourteen of the past 15 Test matches in the UAE have been decided on the final day. Both of the previous two Tests at Dubai International Stadium have been settled in the last session. Pakistan won with less than an hour to go against West Indies last year. Against England in 2015, there were just three balls left.
Key battle - Azhar Ali v Rangana Herath Herath may not quite be as flash as Muttiah Muralitharan, his former spin-twin who ended his career by taking his 800th wicket with his final delivery in Tests. He still has a decent sense of an ending, though. He won the Abu Dhabi match for his side with 11 wickets, the last of which was his 400th in Tests. It was not the first time he has owned Pakistan, either. A quarter of all his Test victims have been Pakistani. If Pakistan are going to avoid a first ever series defeat in the UAE, Azhar, their senior batsman, needs to stand up and show the way to blunt Herath.
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
How it works
Booklava works on a subscription model. On signing up you receive a free book as part of a 30-day-trial period, after which you pay US$9.99 (Dh36.70) per month to gain access to a library of books and discounts of up to 30 per cent on selected titles. You can cancel your subscription at any time. For more details go to www.booklava.com
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
RESULTS
Bantamweight: Victor Nunes (BRA) beat Azizbek Satibaldiev (KYG). Round 1 KO
Welterweight: Daniel Skibinski (POL) beat Acoidan Duque (ESP). Round 3 TKO
Lightweight: Martun Mezhlumyan (ARM) beat Attila Korkmaz (TUR). Unanimous decision
Bantamweight: Ray Borg (USA) beat Jesse Arnett (CAN). Unanimous decision
Who has lived at The Bishops Avenue?
George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
Land was originally the Bishop of London's hunting park, hence the name
The road was laid out in the mid 19th Century, meandering through woodland and farmland
Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
First Person
Richard Flanagan
Chatto & Windus
AUSTRALIA SQUAD v SOUTH AFRICA
Aaron Finch (capt), Shaun Marsh, Travis Head, Chris Lynn, Glenn Maxwell, D'Arcy Short, Marcus Stoinis, Alex Carey, Ashton Agar, Mitchell Starc, Josh Hazlewood, Pat Cummins, Nathan Coulter-Nile, Adam Zampa
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
THE APPRENTICE
Director: Ali Abbasi
Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong
Rating: 3/5
If you go...
Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).