• Arsenal's Pierre-Emerick Aubameyang gestures as he takes a knee before the match at Manchester City. Reuters
    Arsenal's Pierre-Emerick Aubameyang gestures as he takes a knee before the match at Manchester City. Reuters
  • Players of Aston Villa and Sheffield United take a knee in support of the Black Lives Matter movement prior to their Premier League match. Getty
    Players of Aston Villa and Sheffield United take a knee in support of the Black Lives Matter movement prior to their Premier League match. Getty
  • Arsenal's Swiss midfielder Granit Xhaka, right, takes a knee. AFP
    Arsenal's Swiss midfielder Granit Xhaka, right, takes a knee. AFP
  • Arsenal's Pierre-Emerick Aubameyang, right, and Manchester City's Kevin de Bruyne. PA
    Arsenal's Pierre-Emerick Aubameyang, right, and Manchester City's Kevin de Bruyne. PA
  • Sheffield United's Billy Sharp and Aston Villa's John McGinn take a knee. Reuters
    Sheffield United's Billy Sharp and Aston Villa's John McGinn take a knee. Reuters
  • Sander Berge of Sheffield United takes a knee in support of the Black Lives Matter movement. Getty
    Sander Berge of Sheffield United takes a knee in support of the Black Lives Matter movement. Getty
  • Aston Villa's Keinan Davis and Sheffield United's John Lundstram. Reuters
    Aston Villa's Keinan Davis and Sheffield United's John Lundstram. Reuters
  • Aston Villa and Sheffield United players take a knee. PA
    Aston Villa and Sheffield United players take a knee. PA

Manchester City coach Pep Guardiola 'embarrassed and ashamed' by treatment of black people


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Manchester City manager Pep Guardiola said he is "embarrassed and ashamed" at the historic treatment of black people as the Premier League's return was marked by protests against racial injustice.

Players and coaches from all four sides in action took a knee prior to kick off to show their support for the Black Lives Matter campaign.

The action came in response to worldwide protests after the killing of African-American George Floyd while in police custody in Minneapolis.

Black Lives Matter was also emblazoned on the back of shirts instead of player names.

"We should send a thousand million messages for the black people. It's more than 400 years we do what we do to these lovely people," Guardiola told Sky Sports.

"I'm embarrassed and ashamed of what the white people have done for the black people.

"Just because you are born a different colour, how people can think they are different? All the gestures are good and positive. Everything we can do to make it conscious, it is not acceptable.

"We have to do a lot of things for the black people which we have not done so far."

Raheem Sterling has been a leading campaigner in the fight against racism in football and the City winger backed the united front as a significant step forward.

"I see it as a massive step for the Premier League to allow something like that to happen," said Sterling. "It shows we are going in the right direction."

Sterling scored his first goal of 2020 to open the scoring as City restarted with a 3-0 win over Arsenal.

The England international admitted his side took some time to get to grips with their new surroundings in front of an empty Etihad stadium and said he struggled to hold back from celebrating his goal too wildly with teammates.

"The first 10 minutes it was getting used to the atmosphere and getting the cobwebs off," said Sterling.

"We've got to remain within all the safety tips, but all the boys have tested negative in the past few days and we celebrated in the right manner."

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

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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.”

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