DAYTONA BEACH, FLORIDA // At least 33 fans were injured Saturday during a Nascar race when a car flew into the fence at Daytona International Speedway, hurling a tyre and large pieces of debris into the stands.
The accident happened on the last lap of the second-tier Nationwide Series race on the eve of Sunday's Daytona 500, which officials said would go on as scheduled.
The crash began as the field approached the checkered flag and leader Regan Smith attempted to block Brad Keselowski to preserve the win. That triggered a chain reaction, and rookie Kyle Larson hit the cars in front of him and went airborne into the fence.
The entire front end was sheared off Larson's car, and his burning engine wedged through a gaping hole in the fence. Chunks of debris from the car were thrown into the stands, including a tyre that cleared the top of the fence and landed midway up the spectator section closest to the track.
The 20-year-old Larson stood in shock several yards away from his car as fans in the stands waved frantically for help. Smoke from the burning engine briefly clouded the area, and emergency vehicles descended on the scene.
Ambulance sirens could be heard wailing behind the grandstands at a time the race winner would typically be doing celebratory burnouts.
"It was freaky. When I looked to my right, the accident happened," said Rick Harpster of Orange Park, Florida, who had a bird's-eye view of the wreck. "I looked over and I saw a tyre fly straight over the fence into the stands, but after that I didn't see anything else That was the worst thing I have seen, seeing that tyre fly into the stands. I knew it was going to be severe."
Shannan Devine, of Egg Harbor Township, New Jersey, was sitting about 250 feet away from where the car smashed into the fence and could see plumes of smoke directly in front of her.
"I didn't know if there was a car on top of people. I didn't know what to think. I'm an emotional person and I immediately started to cry. It was very scary. Absolutely scary. I love the speed of the sport. But it's so dangerous," said Devine who was planning to attend her second Daytona 500.
She said many fans got in the way of rescue efforts by trying to take pictures and videos, even jumping over fencing in hopes of getting closer to the scene.
Speedway President Joie Chitwood said 14 fans were treated on site, and 14 others were taken to hospitals. Chitwood didn't give any updates on their conditions. Local officials said 19 fans were taken to neighbouring hospitals, including two who were in critical condition but were later upgraded to stable.
The accident happened the day before the Sprint Cup Series season-opening Daytona 500 - Nascar's version of the Super Bowl. Daytona workers could be seen repairing the large section of fence where Larson hit, as well as the wall that was damaged in the accident.
"First and foremost our thoughts and prayers are with our race fans," Chitwood said. "Following the incident we responded appropriately according to our safety protocols, and had emergency medical personnel at the incident immediately.
"We're in the process of repairing the facility and will be ready to go racing tomorrow [Sunday]."
As emergency workers tended to injured fans and ambulance sirens wailed in the background, a sombre Tony Stewart skipped the traditional post-race victory celebration.
Stewart, who won for the 19th time at Daytona and seventh time in the last nine season-opening Nationwide races, was in no mood to celebrate.
"The important thing is what is going on on the front stretch right now," said Stewart, the three-time Nascar champion. "We've always known, and since racing started, this is a dangerous sport. But it's hard. We assume that risk, but it's hard when the fans get caught up in it.
"So as much as we want to celebrate right now and as much as this is a big deal to us, I'm more worried about the drivers and the fans that are in the stands right now because that was ... I could see it all in my mirror, and it didn't look good from where I was at."
The accident spread into the upper deck and emergency crews treated fans on both levels. There were five stretchers that appeared to be carrying fans out, and a helicopter flew overhead. A forklift was used to pluck Larson's engine out of the fence.
"It's a violent wreck. Just seeing the carnage on the racetrack, it's truly unbelievable," driver Justin Allgaier said.
It was a chaotic finish to a race that was stopped for nearly 20 minutes five laps from the finish by a 13-car accident that sent driver Michael Annett to a hospital, where his Richard Petty Motorsports team said he would be held overnight with bruising to his chest.
The race resumed with three laps to go, and the final accident occurred with Smith trying to hold off Keselowski through the final turn.
"I tried to throw a block. It's Daytona, you want to go for the win here," Smith said. "I don't know how you can play it any different other than concede second place, and I wasn't willing to do that today. Our job is to put them in position to win, and it was, and it didn't work out."
As the cars began wrecking all around Smith and Keselowski, Stewart slid through for the win, but Larson ploughed into Keselowski and his car was sent airborne into the fence. When Larson's car came to a stop, it was missing its entire front end. The 20-year-old, who made his Daytona debut this week, stood apparently stunned, hands on his hips, several feet away from his car, before finally making the mandatory trip to the care centre.
He said his first thought was with the fans.
"I hope all the fans are OK and all the drivers are all right," Larson said. "I took a couple big hits there and saw my engine was gone. Just hope everybody's all right."
He said he was along for the ride in the last-lap accident.
"I was getting pushed from behind, I felt like, and by the time my spotter said lift or go low, it was too late," Larson said. "I was in the wreck and then felt like it was slowing down and I looked like I could see the ground. Had some flames come in the cockpit, but luckily I was all right and could get out of the car quick."
It appeared fans were lined right along the fence when Larson's car sailed up and into it, but Chitwood indicated there was a buffer. He said there would be no changes to the seating before the Daytona 500.
"We don't anticipate moving any of our fans," Chitwood said. "We had our safety protocols in place. Our security maintained a buffer that separates the fans from the fencing area. With the fencing being prepared tonight to our safety protocols, we expect to go racing tomorrow with no changes."
Larson's car appeared to hit where the crossover gate - a section that can be opened for people to travel back and forth from the infield to the grandstands - is located in the fence. Previous accidents in which drivers hit crossover gates were severe, but the gates were in the wall and not the fence for Mike Harmon's accident at Bristol in 2002 and Michael Waltrip's at the same track in 1990.
Still, Nascar senior vice president Steve O'Donnell said it would be studied.
"I think we look at this after every incident," O'Donnell said. "We've learnt in the past certain protocols put in place today are a result of prior incidents. Again, our initial evaluation is still ongoing. But it's certainly something we'll look at. If we can improve upon it, we'll certainly put that in play as soon as we can."
Larson had been scheduled to race his sprint car later Saturday night in Ocala, Fla., and even seemed restless to get there during the late stages of the Nationwide race. He pulled out of the event following the accident.
"Honestly, the race itself pales in comparison to the injuries sustained by the fans," said Chip Ganassi, the team owner who has Larson in his driver development programme. "Our thoughts and prayers go out to all the fans that were injured as a result of the crash. As for Kyle, I am very happy that he is OK."
Keselowski watched a replay of the final accident, and said his first thoughts were with the fans. As for the accident, he agreed he tried to make a winning move and Smith tried to block.
"He felt like that's what he had to do, and that's his right. The chaos comes with it," Keselowski said. "I made the move and he blocked it, and the two of us got together and started the chain events that caused that wreck. First and foremost, just want to make sure everyone in the stands is OK and we're thinking about them."
Keselowski said the incident could cast a pall on the Daytona 500.
"I think until we know exactly the statuses of everyone involved, it's hard to lock yourself into the 500," Keselowski said. "Hopefully, we'll know soon and hopefully everyone's OK. And if that's the case, we'll staring focusing on Sunday."
Top tips
Create and maintain a strong bond between yourself and your child, through sensitivity, responsiveness, touch, talk and play. “The bond you have with your kids is the blueprint for the relationships they will have later on in life,” says Dr Sarah Rasmi, a psychologist.
Set a good example. Practise what you preach, so if you want to raise kind children, they need to see you being kind and hear you explaining to them what kindness is. So, “narrate your behaviour”.
Praise the positive rather than focusing on the negative. Catch them when they’re being good and acknowledge it.
Show empathy towards your child’s needs as well as your own. Take care of yourself so that you can be calm, loving and respectful, rather than angry and frustrated.
Be open to communication, goal-setting and problem-solving, says Dr Thoraiya Kanafani. “It is important to recognise that there is a fine line between positive parenting and becoming parents who overanalyse their children and provide more emotional context than what is in the child’s emotional development to understand.”
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
RESULTS
6.30pm: Al Maktoum Challenge Round-1 Group 1 (PA) Dh119,373 (Dirt) 1,600m
Winner: Brraq, Adrie de Vries (jockey), Jean-Claude Pecout (trainer)
7.05pm: Handicap (TB) Dh102,500 (D) 1,200m
Winner: Taamol, Connor Beasley, Ali Rashid Al Raihe.
7.40pm: Handicap (TB) Dh105,000 (Turf) 1,800m
Winner: Eqtiraan, Connor Beasley, Ali Rashid Al Raihe.
8.15pm: UAE 1000 Guineas Trial (TB) Dh183,650 (D) 1,400m
Winner: Soft Whisper, Pat Cosgrave, Saeed bin Suroor.
9.50pm: Handicap (TB) Dh105,000 (D) 1,600m
Winner: Hypothetical, Mickael Barzalona, Salem bin Ghadayer.
9.25pm: Handicap (TB) Dh95,000 (T) 1,000m
Winner: Etisalat, Sando Paiva, Ali Rashid Al Raihe
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
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First Person
Richard Flanagan
Chatto & Windus
Company%20Profile
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Our House, Louise Candlish,
Simon & Schuster
MATCH INFO
Real Madrid 2
Vinicius Junior (71') Mariano (90 2')
Barcelona 0
THE BIO
Ambition: To create awareness among young about people with disabilities and make the world a more inclusive place
Job Title: Human resources administrator, Expo 2020 Dubai
First jobs: Co-ordinator with Magrudy Enterprises; HR coordinator at Jumeirah Group
Entrepreneur: Started his own graphic design business
Favourite singer: Avril Lavigne
Favourite travel destination: Germany and Saudi Arabia
Family: Six sisters