Is it a case of "too little, too late" or "better late than never"? The answer, in the context of Tuesday's indefinite suspension of the Indian Premier League, depends on how optimistic or pessimistic one is about life. But the decision to call off the world's richest cricket competition midway through the season, at a time when the coronavirus pandemic is devastating the country in which it is being held, is the right one. And that is what's important, both for India and the game itself.
In February, the number of Covid-19 cases in India began rising, with infections averaging at about 10,000 per day. The situation worsened in April due to several factors, ranging from irresponsible behaviour among the public to the government’s lack of preparedness for a predictable “second wave”. Election rallies, religious festivals and other social gatherings were all held, many of which became superspreader events. Behind the aggregate figures – 20 million people infected and 222,000 dead – are soul-crushing stories of people dying on the streets, sometimes outside hospitals.
Amid this unprecedented crisis, it has puzzled many to see live cricket being broadcast on television from stadiums inside the country. Many within the cricket fraternity and outside have questioned the rationale for the BCCI, the competition organiser, kicking off the season, which started on April 9, in the first place. Even though the tournament was being staged inside bio-secure bubbles, criticism grew louder over the fact it was being held in cities most affected by the pandemic, particularly Delhi.
A woman takes care of her husband who has Covid-19 as they wait outside the casualty ward at Guru Teg Bahadur Hospital, in New Delhi, India. Reuters
Family members mourn after a man is declared dead amid a surge in coronavirus cases in India. Reuters
A patient with breathing problems is seen inside a car while waiting to enter a hospital for treatment, amid the spread of the coronavirus in Ahmedabad, India. Reuters
India’s second Covid-19 wave is devastating, with more than new 200,000 coronavirus cases recorded each day. Reuters
Dr Rajesh Bhagchandani, centre, a director at Apex hospital in Bhopal city, intubates a patient. He feels helpless that the hospital, which is now reserved for critically ill Covid-19 patients, cannot accommodate more people who require oxygen. Dr Rajesh Bhagchandani
Dr Himanshu Dewan, director of critical care at QRG hospital in Faridabad, a town near India’s capital New Delhi, says the number of deaths will climb because patients do not have access to treatment. Dr Himanshu Dewan
A health worker arranges oxygen cylinders that are being used for Covid-19 coronavirus patients at a private hospital in Allahabad. AFP
Dr Himanshu Dewan, director of critical care at QRG hospital in Faridabad, a town near India’s capital New Delhi, is acutely aware a patient could die on the road if turned by hospitals that cannot admit more Covid-19 cases . Courtesy: Dr Himanshu Dewan
A man carries an empty oxygen cylinder to get it refilled at a private refilling station, for his relative who is suffering from the coronavirus disease, in New Delhi. Reuters
Patients with breathing problems are seen inside an ambulance waiting to enter a Covid-19 hospital for treatment in Ahmedabad. Reuters
A health worker collects a nasal swab sample from a woman in Amritsar. AFP
An Indian police officer distributes face masks in Hyderabad. AP Photo
A health worker administers the Covidshield vaccine at a government hospital in Hyderabad. AP Photo
People wearing masks wait to test for Covid-19 at a hospital in Hyderabad. AP Photo
A health worker takes a mouth swab sample at a hospital in Hyderabad. AP Photo
Nuns wait to take a test for Covid-19 at a test center in Kolkata, Eastern India. EPA
According to some, ambulances and fully kitted-out mobile-testing centres commissioned to look after the eight competing teams and organisers could no doubt have been activated instead for the public good. Cricket writer and podcaster Siddhartha Vaidyanathan put it best on Twitter, when he said: “A national tragedy is a time for every single resource. Players are being tested every other day. Ambulances wait outside stadiums. Police requirement. These are resources that can save lives. And every life matters.”
Even if going ahead with the IPL was justified – it was surely a welcome distraction for many, at first – its continuation up to this point has been criticised for appearing "tone deaf". In a searing piece for the Hindustan Times, veteran journalist Sharda Ugra wrote: "The IPL plays itself out nightly on our TV screens. Bubble-wrapped into tone deafness in a persistent, foghorn blast for its many sponsors every five minutes, rather than any quiet, measured acknowledgement of the suffering outside its gates."
Indeed, could the presentation have reflected the sombre national mood, by way of mellower live commentary, more thoughtful product placements and regular in-stadia announcements acknowledging the suffering? Absolutely.
Ugra's point has rankled many cricket fans who follow European club football. Some have pointed, with a measure of envy, to the amount of time, money and effort clubs such as Manchester City have invested in the communities they are part of, especially in these hard times.
This may be akin to comparing apples with oranges, however. For, unlike club football, franchise cricket is not played continually throughout the year. Which leaves teams in the IPL and other competitions around the world with much less time and fewer financial resources to plough back into the cities or regions they claim to represent. Surely though, they can follow the lead of one IPL team – Rajasthan Royals – which announced a $1 million contribution towards Covid-19 relief.
The 2021 Indian Premier League was suspended indefinitely on Tuesday but the BCCI are planning to complete the tournament. IPL
As a former sports journalist who covered the game for more than a decade, I often sympathise with cricketers, for we can hardly fathom the pressures they play under, both on and off the field. Indian players, in particular, are always hectored by fans to show more social consciousness and have an opinion on all matters. Yet the radio silence on this matter from some top cricketers, including Indian national team captain Virat Kohli and his deputy, Rohit Sharma, have befuddled me and so many others. This contrasts wildly with India's footballers and other athletes who have provided funds and their own social media accounts to help amplify urgent requests for medial aid.
Kohli's wife, Bollywood star Anushka Sharma, has announced she is starting a "movement", alongside her husband, to eradicate Covid-19. But, the fact that a normally vociferous Kohli has thus far said so little about the current crisis has led to speculation that he is simply showing fealty to the BCCI, the world's richest and most powerful cricket board, and its flagship product, the IPL.
Sport needs a narrative that reflects the society it is meant to serve in order to succeed
True or not, however, none of this is likely to damage the IPL brand, for cricket will continue to be a national pastime. Besides, since its inception in 2008, the tournament has constantly polarised public opinion. Even today, it provokes debate between purists, who prefer the game to be played and presented in a more traditional way, and new-age fans who love its breezy format, franchise model and glitzy presentation.
Many have pointed out that the IPL provides scores of little-known, up-and-coming players with the platform to succeed and financial compensations they would otherwise not have received had they only plied their trade in the country’s more established but poorer domestic competitions. This is true, even if the naysayers scoff at the rich and famous franchise owners, some of whom have had no prior association with the sport. Even those who call the IPL a “Mickey Mouse tournament” that serves only to dilute cricket’s quality and competitiveness concede this fact.
If nothing else, the IPL reminds all Indians that their country, which boasts having the globe's largest cricket economy, commands the world's attention and perhaps even respect.
Which is probably why, despite the broader scope of the debate this time, it is instructive that the IPL was suspended not due to unfavourable public opinion – more than half the viewers opposed it, according to one poll – but because infections were reported inside some of its bubbles.
That said, more than anything else, sport needs a narrative that reflects the society it is meant to serve in order to succeed. Was Indian cricket even cognisant of the tragedy unfolding around it over the past month? That’s for its custodians to reflect on during their time off.
Chitrabhanu Kadalayil is an assistant comment editor at The National
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
Queen
Nicki Minaj
(Young Money/Cash Money)
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
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
ORDER OF PLAY ON SHOW COURTS
Centre Court - 4pm (UAE)
Gael Monfils (15) v Kyle Edmund
Karolina Pliskova (3) v Magdalena Rybarikova
Dusan Lajovic v Roger Federer (3)
Court 1 - 4pm
Adam Pavlasek v Novak Djokovic (2)
Dominic Thiem (8) v Gilles Simon
Angelique Kerber (1) v Kirsten Flipkens
Court 2 - 2.30pm
Grigor Dimitrov (13) v Marcos Baghdatis
Agnieszka Radwanska (9) v Christina McHale
Milos Raonic (6) v Mikhail Youzhny
Tsvetana Pironkova v Caroline Wozniacki (5)
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.”
Born in Spain, Tribulietx took sole charge of Auckland in 2010 and has gone on to lead the club to 14 trophies, including seven successive Oceania Champions League crowns. Has been tipped for the vacant New Zealand national team job following Anthony Hudson's resignation last month. Had previously been considered for the role.
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
Sellers should focus on providing high-quality used goods at attractive prices to buyers.
It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
Be creative and look around your home for valuable items that you no longer need but might be useful to others.
The Laughing Apple
Yusuf/Cat Stevens
(Verve Decca Crossover)
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Red flags
Promises of high, fixed or 'guaranteed' returns.
Unregulated structured products or complex investments often used to bypass traditional safeguards.
Lack of clear information, vague language, no access to audited financials.
Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
Flydubai flies to Podgorica or nearby Tivat via Sarajevo from Dh2,155 return including taxes. Turkish Airlines flies from Abu Dhabi and Dubai to Podgorica via Istanbul; alternatively, fly with Flydubai from Dubai to Belgrade and take a short flight with Montenegro Air to Podgorica. Etihad flies from Abu Dhabi to Podgorica via Belgrade. Flights cost from about Dh3,000 return including taxes. There are buses from Podgorica to Plav.
The tour
While you can apply for a permit for the route yourself, it’s best to travel with an agency that will arrange it for you. These include Zbulo in Albania (www.zbulo.org) or Zalaz in Montenegro (www.zalaz.me).
