Dr.Li Wenliang who died from Coronavirus. Wuhan, China
Excavators and workers are seen at the construction site where the new Huoshenshan Hospital is being built to treat patients of a new coronavirus on the outskirts of Wuhan, China. Reuters
A policeman wearing a coronavirus-themed outfit composed of helmet, mace and shield, walks at a market to raise awareness about social distancing, during a government-imposed nationwide lockdown as a preventive measure against the COVID-19 coronavirus in Chennai, on April 2, 2020. / AFP / Arun SANKAR
The quarantined Diamond Princess cruise ship at Daikoku pier cruise terminal in Yokohama. AFP
MANILA, PHILIPPINES - APRIL 3: Residents stand on white lines on the ground spaced to enforce social distancing as they queue to enter a slum area on April 3, 2020 in Manila, Philippines. Philippine President Rodrigo Duterte on Wednesday ordered law enforcement to "shoot" residents caught violating quarantine rules during a month long lockdown in the country to contain the spread of the coronavirus. The Philippines' main island Luzon, which includes capital Manila, has been on lockdown for more than two weeks. Land, sea, and air travel has been suspended, while government work, schools, businesses, and public transportation have been ordered shut in a bid to keep some 55 million people at home. The Philippines' Department of Health has so far confirmed 3,018 cases of the new coronavirus in the country, with at least 136 recorded fatalities. (Photo by Ezra Acayan/Getty Images)
epa08325517 General view of the empty Piccadilly Circus in London, Britain, 26 March 2020. Britain's prime minister Boris Johnson has implemented social distancing measures banning social gatherings and groups of more than two people amid the ongoing coronavirus COVID-19 pandemic. People must stand more than two metres apart. Several European countries have closed borders, schools as well as public facilities, and have cancelled most major sports and entertainment events in order to prevent the spread of the SARS-CoV-2 coronavirus causing the Covid-19 disease. EPA/FACUNDO ARRIZABALAGA
An electron micrograph of SARS-CoV-2 virus particles, also known as 2019-nCoV, the virus that causes Covid-19. EPA
A security guard stands outside the Huanan Seafood Wholesale Market where the coronavirus was detected in Wuhan on January 24, 2020. AFP
A cyclist travels down a nearly deserted road in the Chinese city of Wuhan on January 26, 2020. AFP
The World Health Organisation has warned all governments to be on alert and screening has been stepped up at airports around the world. Getty Images.
Mr Ghebreyesus announced that the coronavirus outbreak can now be characterised as a pandemic. AFP
Members of a medical assistance team from Jiangsu province chant slogans at a ceremony marking their departure after helping with the COVID-19 coronavirus recovery effort, in Wuhan.
People wearing face masks walk at a riverside park in Wuhan of Hubei province. Reuters
Staff members line up at attention as they prepare to spray disinfectant at Wuhan Railway Station in Wuhan in China's central Hubei province.AFP
The Diamond Princess cruise ship was placed in quarantine off the port of Yokohama after a number of the 3,700 people on board were confirmed to have coronavirus. Getty Images
Lee Man-hee, leader of the Shincheonji Church of Jesus, speaks during a press conference. The leader of a South Korean sect linked to more than half the country's 4,000-plus coronavirus cases apologised on March 2 for the spread of the disease. AFP
Army soldiers wearing protective suits spray disinfectant to prevent the spread of the coronavirus in front of a branch of the Shincheonji Church of Jesus in Daegu, South Korea. AP
View of Palacio de Hielo ice skating centre in Madrid. The facilities will be used as a morgue for coronavirus fatalities. EPA/CHEMA MOYA
A student takes classes online with his companions using the Zoom APP at home during the coronavirus disease (COVID-19) outbreak in El Masnou, north of Barcelona, Spain. Reuters
A boy with an Italian tricolor flag stands on a balcony during a flash mob launched across Italy to bring people together and try to cope with the emergency of the coronavirus, in Rome. EPA
A nurse wearing protective mask and gear comforts another as they change shifts on March 13, 2020 at the Cremona hospital, southeast of Milan, Lombardy, during the country's lockdown aimed at stopping the spread of the COVID-19. EPA
A worker wears protective gear to spray disinfectant on Piazza Duomo in Milan.AFP
A police officer walks across an empty Seventh Avenue in a sparsely populated Times Square due to COVID-19 concerns in New York. AP
Stocks markets around the world have swung wildly in recent weeks as the coronavirus outbreak hammers global economy. Reuters
US President Donald Trump, center, at a Coronavirus Task Force news conference at the White House in Washington, D.C., US, on Friday, April 3, 2020. Bloomberg
The military field hospital outside the Emile Muller Hospital in Mulhouse, eastern France. AFP
This picture tshows the Eiffel tower and the deserted place du Trocadero in Paris, on the twelveth day of a lockdown aimed at curbing the spread of the COVID-19 (novel coronavirus) in France. AFP
Health workers wearing protective gear transport a patient on a stretcher toward a tent used as the reception of the emergency services of the Aix Hospital Centre, Aix-en-Provence, southern France. AFP
Japan's Prime Minister Shinzo Abe attends a meeting about Tokyo 2020 Olympics and Paralympics at the prime minister's office in Tokyo. AFP
People wearing a mask walk near the Olympics' mark in Odaiba, Tokyo on February 22, 2020, amid the outbreak of a new coronavirus in Japan. AFP
NHS workers applaud on the streets outside Chelsea and Westminster Hospital during the Clap for our Carers campaign in support of the NHS as the spread of the coronavirus disease (COVID-19) continues, London, Britain, Reuters
The ExCeL London has been transformed into a field hospital. AFP
Boris Johnson on a screen as he remotely chairs the morning novel coronavirus Covid-19 meeting by video link, in Downing Street. AFP
A man sits at New Delhi's border barricade during lockdown by the authorities to limit the spreading of coronavirus disease (COVID-19), in New Delhi, India. Reuters
A migrant worker carries his son as they walk along a road with others to return to their village, during a 21-day nationwide lockdown to limit the spreading of coronavirus disease (COVID-19), in New Delhi, India,F Reuters
Police community support officers talk to a person as the spread of the coronavirus disease (COVID-19) continues, Brighton, Britain. Reuters
Medical staff celebrate after all patients were discharged at Wuchang Fangcang Hospital, a temporary hospital set up at Hongshan Gymnasium to treat people infected with the coronavirus and COVID-19 disease, in Wuhan, Hubei Province, China. AP
Atmosphere of empty Westfield World Trade Center during coronavirus pandemic in New York City, NY, USA . Reuters
The Central Park field hospital constructed by members of Samaritan's Purse are seen in New York. The hospital began taking patients on Tuesday and is equipped to accommodate 68 beds with ventilators. Reuters
Chinese travellers wear protective masks as they bow their heads at 10 AM for three minutes of silence to mark the country's national day of mourning for COVID-19 at Beijing Railway Station. Getty
On the 20th day of a lockdown in France, a cemetery, exceptionally open for Palm Sunday, April 5. AFP
War metaphors are everywhere you look in the age of coronavirus. It is a war against a hidden enemy, US President Donald Trump declares. Doctors, nurses and hospital staff are frontline workers, our first line of defence. China designated healthcare workers who died fighting the pandemic as martyrs.
I do not know where the desire to declare war on every challenge facing our societies comes from, but it does make some sense. Wartime rhetoric can make it easier to accept the radical measures needed to “flatten the curve” and control the pandemic. It elicits confidence in public institutions at a time when deep uncertainty reigns, with the knowledge that the government will spare no effort or expense to protect citizens.
Donald Trump has used war metaphors to describe the effort to contain the coronavirus pandemic. Reuters
This "rallying around the flag" effect, the greater propensity for sacrifice, the sense of solidarity that comes from knowing we are all in it together, can be enhanced by the war metaphors. The sweeping and extraordinary restrictions on movement in place require compliance, and that can only be achieved through serious reckoning with the crisis at hand.
And with that reckoning, the belief that the war can be won.
And yet, the dangers and limitations of wartime comparisons are also readily apparent. They inspire the sort of hoarding and run on essential goods over irrational fear of rationing that in the West has led to toilet paper shortages. It is still hard in some places to find diapers, baby wipes and infant formula.
A member of the Iraqi Civil Defence Corps disinfects the streets of Sadr City in Baghdad during the imposition of a curfew. AFP
The rhetoric of war can also lead to the demonisation of minorities. Mr Trump has frequently described coronavirus as the “Chinese virus”, an epithet that is particularly concerning amid rising reports of attacks against Asian immigrants in the US that are purportedly prompted by the pandemic. There are historical parallels to this scapegoating of minorities, such as the pogroms of Jews in Europe during the Black Death.
We are also particularly attuned in the Middle East to the limitations of this rhetoric. The so-called war on terror sparked limitless misery and instability throughout the region because of the failure to imagine solutions to religious extremism that go beyond dropping bombs on faraway countries. When war is the norm, every problem then looks like it can be solved with drone strikes.
The rhetoric also risks creating the conditions for authoritarian, abusive governments to cement their power, and for the erosion of civil liberties and privacy rights. The “rally around the flag” effect of national crises and traumas can make it easier for some governments to concentrate power under the guise of fighting the pandemic.
Things rarely go back to the way they were once a national crisis is over, either. Just look at the US and the aftermath of the 9/11 attacks.
And it does not really feel like a war for most of us, does it? We are not being drafted into the military, or forced to work extra hours in artillery factories, or having to ration food and tea. This war is being fought by the few on behalf of the many, but the job of the many is to sit at home and forego the evolutionary imperative of human contact, of embracing loved ones, of mingling with strangers. The great sacrifice is one of enduring absence and loss, not action and martyrdom in defence of land and country.
Are we at war, then? It is hard to pinpoint an answer given how unprecedented this all is. But I will venture that perhaps the wartime metaphors miss the point. Because I do not know about you, but I feel like right now I need a dose of the human touch. To hug a friend I ran into at the corner store, to be drowned out by the noise in a crowded restaurant, to people-watch at the park. To step outside without being afraid.
Is that not what war inspires in most of us? Fear, panic, great acts of cruelty and inhumanity. I do not want to be afraid for too much longer every time I walk out the door to buy milk and bread. It helps, though, when I step onto the footpath and I see, through the windows of the houses nearby, the drawings of the children. They say, “everything will be alright” and "ca va bien aller".
There was hope that we might emerge out of the pandemic with a renewed sense of social cohesion, greater empathy towards the most vulnerable, a stronger understanding of the value of family ties and friendship, deeper solidarity in the face of existential crises such as climate change, and a feeling that we are in it together, that the polarisation that characterises politics and social media will retreat AP Photo
Perhaps we will come out of this more tender, more kind to our neighbours and tolerant of difference because we crave human contact, any human contact. Perhaps our dealings with them will be redolent of greater tolerance and understanding. We will realise that it does not matter if our neighbour is liberal or conservative, Muslim or Hindu, Sunni or Shia, black or white, we will still need their help if the going gets tough. We are all in it together. I am reminded of that reality with the multitudes of stories of generosity in this pandemic.
Perhaps this war will be won if we emerge from it truly healed, as avatars of the better angels of our nature. Perhaps human life will be more valuable, and we will start trying to save it instead of going to war.
Kareem Shaheen is a former Middle East correspondent based in Canada
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
Gulf rugby
Who’s won what so far in 2018/19
Western Clubs Champions League: Bahrain Dubai Rugby Sevens: Dubai Hurricanes West Asia Premiership: Bahrain
What’s left
UAE Conference
March 22, play-offs:
Dubai Hurricanes II v Al Ain Amblers, Jebel Ali Dragons II v Dubai Tigers
March 29, final
UAE Premiership
March 22, play-offs:
Dubai Exiles v Jebel Ali Dragons, Abu Dhabi Harlequins v Dubai Hurricanes
March 29, final
MAIN CARD
Bantamweight 56.4kg
Abrorbek Madiminbekov v Mehdi El Jamari
Super heavyweight 94 kg
Adnan Mohammad v Mohammed Ajaraam
Lightweight 60kg
Zakaria Eljamari v Faridoon Alik Zai
Light heavyweight 81.4kg
Mahmood Amin v Taha Marrouni
Light welterweight 64.5kg
Siyovush Gulmamadov v Nouredine Samir
Light heavyweight 81.4kg
Ilyass Habibali v Haroun Baka
MATCH INFO
Champions League quarter-final, first leg
Ajax v Juventus, Wednesday, 11pm (UAE)
Match on BeIN Sports
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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.”
