Ahmed Zayat, second right, the owner of the racehorse American Pharoah, his son Justin, left, wife Joanne and Mexican jockey Victor Espinoza pose for photographers after receiving their Longines World's Best Racehorse award for American Pharaoh's achievements in 2015 at an award ceremony at Claridge's hotel in London, Tuesday, Jan. 19, 2016. American Pharoah won the U.S. Triple Crown of Thoroughbred Racing in 2015, becoming the first horse to sweep the Kentucky Derby, Preakness Stakes and Belmont Stakes since 1978. Matt Dunham / AP Photo
Ahmed Zayat, second right, the owner of the racehorse American Pharoah, his son Justin, left, wife Joanne and Mexican jockey Victor Espinoza pose for photographers after receiving their Longines World's Best Racehorse award for American Pharaoh's achievements in 2015 at an award ceremony at Claridge's hotel in London, Tuesday, Jan. 19, 2016. American Pharoah won the U.S. Triple Crown of Thoroughbred Racing in 2015, becoming the first horse to sweep the Kentucky Derby, Preakness Stakes and Belmont Stakes since 1978. Matt Dunham / AP Photo
Ahmed Zayat, second right, the owner of the racehorse American Pharoah, his son Justin, left, wife Joanne and Mexican jockey Victor Espinoza pose for photographers after receiving their Longines World's Best Racehorse award for American Pharaoh's achievements in 2015 at an award ceremony at Claridge's hotel in London, Tuesday, Jan. 19, 2016. American Pharoah won the U.S. Triple Crown of Thoroughbred Racing in 2015, becoming the first horse to sweep the Kentucky Derby, Preakness Stakes and Belmont Stakes since 1978. Matt Dunham / AP Photo
Ahmed Zayat, second right, the owner of the racehorse American Pharoah, his son Justin, left, wife Joanne and Mexican jockey Victor Espinoza pose for photographers after receiving their Longines World

American Pharoah’s greatness cemented after being named world’s best racehorse


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LONDON // American Pharoah’s brilliance and durability just outshone Golden Horn when the American Triple Crown winner was named the world’s best racehorse on Tuesday.

American Pharoah became the first horse to win the Kentucky Derby, Preakness Stakes and Belmont Stakes for 37 years last season and then augmented that historic achievement by adding on the Breeders’ Cup Classic in October.

It was his victory at Keeneland, where all seven of his rivals boasted a win at the highest level, that sealed his greatness according to the team of 22 international handicappers who compile the rankings.

The PioneerOf The Nile colt, who has retired to stud in Kentucky to stand for a fee of US$200,000 (Dh734,550), is the first dirt horse to top the rankings since 2008 when Curlin dominated the standings during his Dubai World Cup-winning season.

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American Pharoah could not quite reel in the great Cigar, however, and on 134 his rating remains 1lb shy of the inaugural Dubai World Cup winner back in the mid 1990s.

American Pharoah, who was trained by Bob Baffert, won seven of his eight starts in 2015 and was only beaten when chasing a furious pace set by Godolphin’s Frosted in the Travers Stakes at Saratoga, a racecourse known as the “Graveyard of Champions”.

“He did it all,” Baffert said at the ceremony at Claridge’s Hotel in London.

“I’ve had a lot of talented horses but he just kept bringing it. He was that type of horse.”

The recognition comes just a few days after American Pharoah was voted unanimously Horse of the Year at the prestigious Eclipse Awards in the United States.

Baffert was joined at the ceremony by the entire cast of American Pharoah’s connections, including jockey Victor Espinoza and owner Ahmed Zayat.

“He was great for racing,” Zayat said. “He was the best of the best.

“No matter who came to see him he was cuddly, he was lovely, he was gentle. He was brilliantly smart. To be internationally recognised here is very special.

“American Pharoah is a horse of a lifetime. He has connected with everybody in America.”

Golden Horn, who has retired to Darley, thebreeding operation at Dalham Hall of Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, was considered the top turf horse in the world after six victories last year, including the Derby at Epsom and the Prix de l’Arc de Triomphe in Paris.

The Arc was named as the best race in the world, after the judging panel looked at the first four horses home in top races around the world over the past three seasons.

Solow’s powerful Dubai Turf victory at Meydan Racecourse on World Cup night last March earned him joint-fifth place alongside Hong Kong’s Able Friend but behind France’s Treve and the ill-fated Shared Belief, who died in the United States in December.

The Dubai Turf was the highest-rated race staged in Dubai, with Prince Bishop’s surprise success in the Dubai World Cup placing him joint-27th in the standings. Dolniya’s Dubai Sheema Classic win put the French filly in 42nd spot.

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%3Cp%3E%3Cstrong%3ECompany%20name%3C%2Fstrong%3E%3A%20ASI%20(formerly%20DigestAI)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Quddus%20Pativada%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%20Artificial%20intelligence%2C%20education%20technology%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%243%20million-plus%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20GSV%20Ventures%2C%20Character%2C%20Mark%20Cuban%3C%2Fp%3E%0A
Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

The BIO

Favourite piece of music: Verdi’s Requiem. It’s awe-inspiring.

Biggest inspiration: My father, as I grew up in a house where music was constantly played on a wind-up gramophone. I had amazing music teachers in primary and secondary school who inspired me to take my music further. They encouraged me to take up music as a profession and I follow in their footsteps, encouraging others to do the same.

Favourite book: Ian McEwan’s Atonement – the ending alone knocked me for six.

Favourite holiday destination: Italy - music and opera is so much part of the life there. I love it.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

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AGL AWARDS

Golden Ball - best Emirati player: Khalfan Mubarak (Al Jazira)
Golden Ball - best foreign player: Igor Coronado (Sharjah)
Golden Glove - best goalkeeper: Adel Al Hosani (Sharjah)
Best Coach - the leader: Abdulaziz Al Anbari (Sharjah)
Fans' Player of the Year: Driss Fetouhi (Dibba)
Golden Boy - best young player: Ali Saleh (Al Wasl)
Best Fans of the Year: Sharjah
Goal of the Year: Michael Ortega (Baniyas)

Top investing tips for UAE residents in 2021

Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.

Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.

Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.

Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.

Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.

Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.

Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”

Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI. 

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

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

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Our family matters legal consultant

 

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Company profile

Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded