The crowd resembled the kind of gathering normally reserved for a Formula One podium celebration.
Only this time, the thousands in attendance fell silent at exactly 2.17pm.
Fans, family members plus fellow and current F1 drivers attended a solemn but also festive memorial yesterday to mark the exact 20th anniversary of Ayrton Senna’s death at the 1994 San Marino Grand Prix.
The ceremony was held on the Imola circuit’s Tamburello curve where the three-time world champion crashed into a concrete wall at about 300 kph (185 mph) on Lap 7 of the race in his Williams car, while leading.
Austrian rookie Roland Ratzenberger, who died in qualifying a day before, was also remembered during the event.
Among those in attendance were Gerhard Berger, Senna's teammate with McLaren between 1990-1992, and current Ferrari drivers Fernando Alonso and Kimi Raikkonen.
“I think we all agree that he was the best driver of all time,” Berger said, drawing a loud round of applause from the crowd.
“Even if it’s a sad moment we’re all very happy to be here and remember Ayrton.”
Alonso, who has won two F1 titles in his career, was 12 when Senna was killed.
“For a lot of us he was our idol,” the Spaniard said. “I used to watch his races on the news and when you saw that yellow helmet and the No. 1 on his car, that really hit you as a kid.
“I didn’t have a chance to know him or race with him and there are a lot of people here who really knew him but I also see a lot of kids, so he continues to influence a lot of people.”
Senna’s niece Paula was among those representing the driver’s family.
She was impressed with the big turnout.
“It means that somehow he reached people’s hearts, with his career and also with the way he was as a person,” she said.
“I feel like he’s alive in people’s hearts, even after all this time ... It’s beautiful.”
Organiser Ezio Zermiani was beaming with delight at the event’s success.
“We thought it may be something that was forgotten. But then this morning when I exited my hotel, I saw the traffic lining up longer than when there was the race here – even though there are no cars racing. So it has become a grand prix of remembrance.”
Zermiani pointed out how the safety improvements introduced to F1 in the wake of Senna’s and Ratzenberger’s deaths have helped prevent any more fatal accidents in the sport in the last 20 years.
“So Ayrton didn’t die for nothing,” he said.
The event gave fans of Senna across the world to remember the Brazilian and their own memories of the events of May 1, 1994.
“Our hearts sank when they told us the news,” said Marco, a 31-year-old Italian fan who was at Imola as a young boy on the day of the crash.
Marco wore the same type of helmet that Senna had on that day and was taking his car around the circuit.
Daniela, 39, from Belo Horizonte in Brazil said: “What moves me about Senna was his humility, his enormous charisma. He is in our hearts like family.”
Another Brazilian fan, 57-year-old Renato, said: “His will to win was what I liked about Ayrton.
“He proved that a Brazilian could be internationally known and that was a great encouragement for us.”
Marco, 34, who wore a chequered flag around his shoulders, said simply: “He was the best driver ever.”
Yesterday’s ceremony comes after a week of commemorative events held to mark the tragic accident, which ushered in a raft of changes to improve F1 safety.
Football club Corinthians from Sao Paulo, the city where three million people turned out for Senna’s funeral, paid tribute to their local hero by wearing crash helmets with the Brazilian flag colours before kick-off in a match against Nacional-AM on Wednesday.
Senna’s sister Viviane said this week that her brother’s legacy is alive and well through the Ayrton Senna Institute, which she chairs.
She recalled a conversation she had with him weeks before his death, when he told her how he wanted to contribute to a better future for Brazil by helping to open up opportunities for children.
“Ayrton really wanted Brazil to work, for everyone to have a chance and from this dream the institute was born,” she said.
She said the organization has worked with two million children and trained 75,000 teachers per year in around 1,000 cities around the country.
Senna's death prompted extensive changes, including the reform of the Grand Prix Drivers' Association. Engine capacities were reduced and tethers to help prevent wheels flying off following accidents were introduced.
The HANS device to protect drivers’ heads and necks was made compulsory, and run-offs were extended and improved.
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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
Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
MATCH INFO
Newcastle United 1 (Carroll 82')
Leicester City 2 (Maddison 55', Tielemans 72')
Man of the match James Maddison (Leicester)
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Virtuzone GCC Sixes
Date and venue Friday and Saturday, ICC Academy, Dubai Sports City
Time Matches start at 9am
Groups
A Blighty Ducks, Darjeeling Colts, Darjeeling Social, Dubai Wombats; B Darjeeling Veterans, Kuwait Casuals, Loose Cannons, Savannah Lions; C Awali Taverners, Darjeeling, Dromedary, Darjeeling Good Eggs
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
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