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
With Covid-19 having disproportionately affected women, policy makers need to pay more attention to gender parity to help build a more equitable society
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
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
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
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
When: The one-off Test starts on Friday, May 11 What time: Each day’s play is scheduled to start at 2pm UAE time. TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
In numbers
Number of Chinese tourists coming to UAE in 2017 was... 1.3m
Alibaba’s new ‘Tech Town’ in Dubai is worth... $600m
China’s investment in the MIddle East in 2016 was... $29.5bn
The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn
Boost to the UAE economy of 5G connectivity will be... $269bn
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
The biog
Favourite book: Homegoing by Yaa Gyasi
Favourite holiday destination: Spain
Favourite film: Bohemian Rhapsody
Favourite place to visit in the UAE: The beach or Satwa
Children: Stepdaughter Tyler 27, daughter Quito 22 and son Dali 19
Liverpool 4 Southampton 0 Jota (2', 32') Thiago (37') Van Dijk (52')
Man of the match: Diogo Jota (Liverpool)
Ain Dubai in numbers
126: The length in metres of the legs supporting the structure
1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch
16 A380 Airbuses: The equivalent weight of the wheel rim.
9,000 tonnes: The amount of steel used to construct the project.
5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place
192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.