Raghida Dergham is the founder and executive chairwoman of the Beirut Institute, and a columnist for The National
May 05, 2024
The protesters that have gripped US university campuses over the past few weeks are ostensibly there to oppose President Joe Biden's support for Israel and the Israeli Prime Minister Benjamin Netanyahu, especially in light of the egregious civilian death toll in Gaza. Protesters are appalled with the way Mr Netanyahu continues to receive billions of dollars in American military and economic aid to help carry out his war. And he receives these things despite his constant embarrassment of the US and the open disregard for Mr Biden.
But while the central focus of these protests is, indeed, Israel's war in Gaza, they have struggled with accusations of political naivety and anti-Semitism. The latter appears to have become a default accusation against those opposing the Gaza war, as if there were no Jewish students among the protesters and as if to say the world must accept crimes against humanity out of fear of being labelled anti-Semitic. This scenario recalls the familiar post-9/11 equation of “you're either with us or you're against us”.
Yet those who have taken to protesting Israel's rejection of a ceasefire without mentioning Hamas militant group's rejection of the same overlook the militants’ own history of hindering the two-state solution alongside Israel. They ignore Hamas policies that have exacerbated Palestinian divisions, and the group’s nature as an Islamic resistance movement rather than a Palestinian national movement.
Indeed, Israel and Hamas are two sides of the same coin when it comes to their stances on the two-state solution, which garners international consensus. Israel helped create Hamas to undermine the Palestinian Liberation Organisation's march towards a two-state solution as envisioned in the Oslo Accords, which Palestinians took seriously while Israel regarded it as a temporary distraction. Therefore, it is both hypocritical and duplicitous when western officials demand Hamas accept the two-state solution without making it a serious condition for Israel as well.
Gaza is the victim of both extreme Jewish right wing in Israel and Palestinian Islamic extremism. Yahya Sinwar, the head of Hamas in Gaza, knows full well that Israel will not cease its war and will invade Rafah unless he offers significant concessions approaching capitulation. He knows that thousands more of Palestinian civilians will otherwise pay their lives for the sake of his agenda, against their will, if he remains rigid in his negotiations with Israel. Mr Sinwar's battle is existential, as is Mr Netanyahu’s. This battle of extremisms is existential for both the right-wing in Israel and the Islamic resistance in Gaza.
Therefore, those who simplify and reduce it to resistance against Israeli occupation either ignore or deliberately forget that Hamas's agenda is not to end the occupation and establish a Palestinian state, but rather to save Hamas from Israel's threats to crush it so that it remains in control of Gaza and continues its Islamic project – the project of the Muslim Brotherhood – and not the project of Palestinian statehood. It is premature to interpret any of Hamas's recent, less combative messages as a turn towards moderation, constructive partnership with the PLO and respect for the principles of the Palestinian Authority's establishment.
Israel and Hamas are two sides of the same coin when it comes to their stances on the two-state solution
This is a reality that student movements in the US do not consider as some of their members raise Hamas flags and focus on protesting Israel. In doing so, they leave themselves exposed because these same students do not condemn Hamas, neither for what it committed on October 7 nor for its ongoing prioritisation of self-preservation over the interests of Palestinians.
Many Arab students from overseas, in particular, who participate in the protests believe they are making history and have risked their academic futures to do so. But it is particularly important for them to be aware that this division in America did not originate on October 7; it has a history of its own. It is an internal American polarisation related to the Republican and Democratic camps in the presidential elections. And their battle is intensifying.
Mr Biden's position is becoming more difficult because the university protests today appear to echo those accompanied the Vietnam War, even if they are not truly of the same nature or scale. What matters is the impression that these protests are affecting the political system in the US. And Mr Biden is concerned.
The woke left within the Democratic Party is gaining strength because of the university protests, and it has found a good rallying point in the Palestinian cause. This strand of the left does not care whether what it is doing will weaken Mr Biden in the face of Trump – what it wants is to change Mr Biden himself. This branch of the left is a problem for the Democratic Party because it compromises the part while doing nothing to weaken Donald Trump.
Mr Trump, meanwhile, draws huge support from the extremist fringe of his own party. He is also inherently unpredictable and easy to provoke; we don’t know, for instance, how he might have reacted if he were in the White House during these protests.
It is hard to say what will happen as the electoral calendar progresses and the extremes of both parties continue to try to push their leaders. Mr Biden may try to stick to winning votes through domestic issues, or he may try to shore up support from his own party by doing something drastic with respect to Ukraine or Gaza. He needs to win the election, and because of that, maybe everything is permissible.
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
Info
What: 11th edition of the Mubadala World Tennis Championship
When: December 27-29, 2018
Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams
Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823
Three ways to get a gratitude glow
By committing to at least one of these daily, you can bring more gratitude into your life, says Ong.
During your morning skincare routine, name five things you are thankful for about yourself.
As you finish your skincare routine, look yourself in the eye and speak an affirmation, such as: “I am grateful for every part of me, including my ability to take care of my skin.”
In the evening, take some deep breaths, notice how your skin feels, and listen for what your skin is grateful for.
Overview
What: The Arab Women’s Sports Tournament is a biennial multisport event exclusively for Arab women athletes.
When: From Sunday, February 2, to Wednesday, February 12.
Where: At 13 different centres across Sharjah.
Disciplines: Athletics, archery, basketball, fencing, Karate, table tennis, shooting (rifle and pistol), show jumping and volleyball.
Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.
Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation.
Education: Sagesse University, Beirut, Lebanon, in 2005.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
UAE currency: the story behind the money in your pockets
Ashton Agar, Alex Carey, Pat Cummins, Aaron Finch, Peter Handscomb, Josh Hazlewood, Travis Head, Usman Khawaja, Nathan Lyon, Glenn Maxwell, Shaun Marsh, Mitchell Marsh, Tim Paine, Matt Renshaw, Jhye Richardson, Kane Richardson, Billy Stanlake, Mitchell Starc, Marcus Stoinis, Andrew Tye.
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
Essentials
The flights
Etihad (etihad.ae) and flydubai (flydubai.com) fly direct to Baku three times a week from Dh1,250 return, including taxes.
The stay
A seven-night “Fundamental Detox” programme at the Chenot Palace (chenotpalace.com/en) costs from €3,000 (Dh13,197) per person, including taxes, accommodation, 3 medical consultations, 2 nutritional consultations, a detox diet, a body composition analysis, a bio-energetic check-up, four Chenot bio-energetic treatments, six Chenot energetic massages, six hydro-aromatherapy treatments, six phyto-mud treatments, six hydro-jet treatments and access to the gym, indoor pool, sauna and steam room. Additional tests and treatments cost extra.
Russia and Ukraine have been locked in a bitter conflict since 2014, when Ukraine’s Kremlin-friendly president was ousted, Moscow annexed Crimea and then backed a separatist insurgency in the east.
Fighting between the Russia-backed rebels and Ukrainian forces has killed more than 14,000 people. In 2015, France and Germany helped broker a peace deal, known as the Minsk agreements, that ended large-scale hostilities but failed to bring a political settlement of the conflict.
The Kremlin has repeatedly accused Kiev of sabotaging the deal, and Ukrainian officials in recent weeks said that implementing it in full would hurt Ukraine.
Rory Burns, Keaton Jennings, Ben Stokes, Joe Root (c), Jos Buttler, Moeen Ali, Ben Foakes (wk), Sam Curran, Adil Rashid, Jack Leach, James Anderson
Company Profile
Name: Thndr Started: 2019 Co-founders: Ahmad Hammouda and Seif Amr Sector: FinTech Headquarters: Egypt UAE base: Hub71, Abu Dhabi Current number of staff: More than 150 Funds raised: $22 million
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Empire of Enchantment: The Story of Indian Magic
John Zubrzycki, Hurst Publishers
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.