The panel at the Placing Gender Parity at the Heart of the Recovery session at the virtual World Economic Forum event. Panellists included Rania Al-Mashat, minister of international cooperation of Egypt; Phumzile Mlambo-Ngcuka, unndersecretary- general and executive director at UN WOMEN, Michael Neidorff, chairman, president and chief executive at Centene, Kevin Sneader, global managing partner at McKinsey & Company, while the moderator was Mina Al-Oraibi, editor-in-chief, The National. Courtesy WEF
The panel at the Placing Gender Parity at the Heart of the Recovery session at the virtual World Economic Forum event. Panellists included Rania Al-Mashat, minister of international cooperation of Egypt; Phumzile Mlambo-Ngcuka, unndersecretary- general and executive director at UN WOMEN, Michael Neidorff, chairman, president and chief executive at Centene, Kevin Sneader, global managing partner at McKinsey & Company, while the moderator was Mina Al-Oraibi, editor-in-chief, The National. Courtesy WEF
The panel at the Placing Gender Parity at the Heart of the Recovery session at the virtual World Economic Forum event. Panellists included Rania Al-Mashat, minister of international cooperation of Egypt; Phumzile Mlambo-Ngcuka, unndersecretary- general and executive director at UN WOMEN, Michael Neidorff, chairman, president and chief executive at Centene, Kevin Sneader, global managing partner at McKinsey & Company, while the moderator was Mina Al-Oraibi, editor-in-chief, The National. Courtesy WEF
The panel at the Placing Gender Parity at the Heart of the Recovery session at the virtual World Economic Forum event. Panellists included Rania Al-Mashat, minister of international cooperation of Egy

Women should be at the heart of the global post-pandemic recovery


  • English
  • Arabic

It will take years to fully assess the impact of Covid-19 on global health systems, societies, economies and governments. However, in a number of areas, the devastation brought about by the pandemic is already clear. In addition to the death of over 2 million people because of the novel coronavirus, and the immense loss that their families will have to contend with, there are societal ramifications that must be recognised and addressed. Around the world, women are witnessing tangible regression in the areas of hard-won progress they made over the past few years.

From bearing the larger burden of home-schooling to facing elevated levels of job losses, women have suffered throughout the past year. And the facts are evident. While women represent 39 per cent of global employment, they have accounted for 54 per cent of overall job losses during the pandemic, according to the management consulting firm McKinsey. The World Economic Forum says that many women are working a “double-double shift”, taking on at least an extra 20 hours of work each week to juggle the demands made real by Covid-19. Mothers have been spending an average of 1.7 hours more per day on housework than fathers and provide 70 per cent of child care during business hours, according to the Forum. The international organisation has been measuring gender disparity for years in its annual “Global Gender Gap” report. In its 2020 report, it predicted that the world would need 99.5 years to reach gender parity. This was before the pandemic hit.

There is no doubt that the vast majority of women find great joy and satisfaction if they can help their families. UN Women, the UN’s agency for women’s advancement, estimates that women’s unpaid contributions to health care are equal to 2.35 per cent of global GDP, or almost $1.5 trillion. And while money and percentages are a good way of measuring how significant this contribution is, no amount of remuneration can equal the love of a mother, a wife, a sister or a daughter when providing care to their families. That is provided unconditionally. However, the reality is that the long-term consequences of this care could lead to career regression, increased psychological pressure and a greater financial burden.

James Laurie, aged 8, is assisted in his online work by his mother Laurette as he continues home-schooling in London. From bearing the larger burden of home-schooling to facing elevated levels of job losses, women have suffered throughout the past year. Getty Images
James Laurie, aged 8, is assisted in his online work by his mother Laurette as he continues home-schooling in London. From bearing the larger burden of home-schooling to facing elevated levels of job losses, women have suffered throughout the past year. Getty Images

Oxfam has called Covid-19 the "inequality virus", saying that the world's poor have been disproportionately affected by this pandemic. This is true for both men and women. However, given that women are more likely to be in low-paying jobs and on flexible contracts, they are more adversely impacted. In its 2020 report on employment, the International Labour Organisation said that losses in income were larger for young workers, women, the self-employed and low and medium-skilled workers.

Moreover, while the world is witnessing a digital revolution with more aspects of people’s lives moving online, a proportion of men and women are being left out as they do not have access to the internet. Women have 17 per cent less access to the internet globally. One of the reasons that women are particularly hurt is that they make up a large proportion of the informal work sector, with 760 million of them in informal employment. Informal workers experienced a 60 per cent fall in income in the first month of the pandemic and much of that income has not recovered.

In her comments during a session I moderated during this week's "Davos Agenda", Egypt's Minister of International Co-operation Rania Al-Mashat stressed the importance of governments taking tangible measures to support women at this time, including legislation that helps mothers care for children under 12 years during this period. Undersecretary-General and Executive Director of UN Women Phumzile Mlambo-Ngcuka echoed that sentiment, stressing the need for tangible measures to solidify women's gains in the workforce and mitigate against the fallout from Covid-19.

We must keep in mind the toll that the pandemic will have on health workers for years to come. According to UN Women, 70 per cent of health workers and first responders around the world are women. And the gender pay gap in the health sector is estimated to be at 28 per cent – meaning that women are bearing a heightened financial, emotional and health burden.

Reena Jani, a health worker, gets ready to travel to receive the AstraZeneca vaccine in Koraput, India. According to UN Women, 70 per cent of health workers and first responders around the world are women. Reuters
Reena Jani, a health worker, gets ready to travel to receive the AstraZeneca vaccine in Koraput, India. According to UN Women, 70 per cent of health workers and first responders around the world are women. Reuters
Women are witnessing tangible regression in the areas of hard-won progress they made over the years

The issue of women in the workforce was discussed in a number of sessions during the Forum’s annual ”Davos Agenda” meeting, which has been held in its entirety virtually. However, the competing demands on policy makers may mean that women’s rights do not get the attention they deserve. They must.

Much has been said of the need to plan for a more equitable society with the emergence from the pandemic, and in order to do so, women have to be at the heart of that planning. Three priorities should be set towards that end. Firstly, providing the infrastructure needed for mothers to progress in the work place, which includes flexible hours to allow for family care and providing childcare facilities. Secondly, a continued effort to tackle gender inequality in pay across the board and securing all workers rights. Thirdly, and perhaps most importantly, protecting women in society and challenging those who seek to use conditions created by the pandemic as a tool of control to hold women back. That is the one fallout from this health crisis that should not be allowed.

Mina Al-Oraibi is editor-in-chief of The National

Scorline

Iraq 1-0 UAE

Iraq Hussein 28’

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

Dunki
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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

Labour dispute

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 much sugar is in chocolate Easter eggs?
  • The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
  • The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
  • The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
  • The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
  • The Cadbury Creme Egg contains 26g of sugar per 40g egg
What is graphene?

Graphene is extracted from graphite and is made up of pure carbon.

It is 200 times more resistant than steel and five times lighter than aluminum.

It conducts electricity better than any other material at room temperature.

It is thought that graphene could boost the useful life of batteries by 10 per cent.

Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5
Retirement funds heavily invested in equities at a risky time

Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.

Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.

The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.

The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.

Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.

The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.

• Bloomberg

MATCH INFO

Iceland 0 England 1 (Sterling pen 90 1)

Man of the match Kari Arnason (Iceland)

The specs

Engine: 3.0-litre 6-cyl turbo

Power: 435hp at 5,900rpm

Torque: 520Nm at 1,800-5,500rpm

Transmission: 9-speed auto

Price: from Dh498,542

On sale: now

UAE%20set%20for%20Scotland%20series
%3Cp%3EThe%20UAE%20will%20host%20Scotland%20for%20a%20three-match%20T20I%20series%20at%20the%20Dubai%20International%20Stadium%20next%20month.%3Cbr%3EThe%20two%20sides%20will%20start%20their%20Cricket%20World%20Cup%20League%202%20campaigns%20with%20a%20tri-series%20also%20involving%20Canada%2C%20starting%20on%20January%2029.%3Cbr%3EThat%20series%20will%20be%20followed%20by%20a%20bilateral%20T20%20series%20on%20March%2011%2C%2013%20and%2014.%3C%2Fp%3E%0A
Jewel of the Expo 2020

252 projectors installed on Al Wasl dome

13.6km of steel used in the structure that makes it equal in length to 16 Burj Khalifas

550 tonnes of moulded steel were raised last year to cap the dome

724,000 cubic metres is the space it encloses

Stands taller than the leaning tower of Pisa

Steel trellis dome is one of the largest single structures on site

The size of 16 tennis courts and weighs as much as 500 elephants

Al Wasl means connection in Arabic

World’s largest 360-degree projection surface

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

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

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Dresos%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20September%202020%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Vladimir%20Radojevic%20and%20Aleksandar%20Jankovic%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Fashion%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%24285%2C000%3B%20%24500%2C000%20currently%20being%20raised%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Crowdfunding%2C%20family%2C%20friends%20and%20self-funding%3C%2Fp%3E%0A