Comparing Test cricket with the Twenty20 game is like comparing Gordon Ramsay with Ronald McDonald.
Sure, both shift huge quantities of food, and both have their devotees, but they are aiming at entirely different audiences. So it is with Twenty20 and Test cricket. Each has its place, but in England there are those who spurn the fast food version of the national summer sport as surely as they would Chicken McNugget and fries.
They pour scorn on the Twenty20 game, characterising it as a made-for-TV slug-fest, devoid of all the subtleties that make cricket such an absorbing sport. This smacks of snobbery in my view - I seem to remember the same sniffiness from cricket purists when the one-day game started - and ignores the fact that the World Cup, showing on TV all over the world, is providing irresistible entertainment.
So captivating has the competition been that sports as varied as snooker, polo, and athletics are falling over themselves to invent short television-friendly competitions.
They recognise the reality that cricket is in competition not just with other sports, but soap operas, old movies, and lame-brained so-called talent shows, in trying to get a wedge of TV money before it all runs out.
If viewers are reluctant to sit for hours in front of the TV watching subtle dabs to third man, why not pin them to their sofas with a game where every ball matters and, more importantly and entertainingly, every mistake is costly?
My view is in no way coloured by the fact that the Australians were the first big name to fall in the Twenty20 World Cup. Well, maybe just a little. It was fun to see them skewered by the West Indies and then Sri Lanka, but I am inclined to agree with Ricky Ponting that England followers will be wasting their time looking for signs of collapsing confidence in advance of this summer's Ashes series. Different games, you see.
As the Australia captain points out, their series win in South Africa re-established them as the leading Test side in the world, and while their one-day and Twenty20 form has been variable to say the least, their Test cricket looks as strong as ever. There will be a big changeover when Australia's Twenty20 players leave and the remainder of the Ashes squad arrives in the next few days, and it is probably not necessary to say that when it comes to the Ashes, there will be no shortage of motivation.
The good news for England is that all-rounder Andrew Flintoff says his recovery from knee surgery is on track, and is confident he will be ready for the first Test against Australia beginning on July 8, while Kevin Pietersen's triumphant return to action against Pakistan augurs well for the challenges to come.
As always, the Ashes will light up the English summer, but, in the meantime, I shall ignore the cricket fundamentalists and have fun watching the slug-fest. I might even get myself a burger.
mkelner@thenational.ae
More from Armen Sarkissian
Founders: Ines Mena, Claudia Ribas, Simona Agolini, Nourhan Hassan and Therese Hundt
Date started: January 2017, app launched November 2017
Based: Dubai, UAE
Sector: Private/Retail/Leisure
Number of Employees: 18 employees, including full-time and flexible workers
Funding stage and size: Seed round completed Q4 2019 - $1m raised
Funders: Oman Technology Fund, 500 Startups, Vision Ventures, Seedstars, Mindshift Capital, Delta Partners Ventures, with support from the OQAL Angel Investor Network and UAE Business Angels
What is an ETF?
An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.
There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.
The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.
There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.
While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash.
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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
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour