Tadhg O'Shea has revealed what the next chapter in his career will hold after it was announced this week that he will no longer be the retained rider for Sheikh Hamdan bin Rashid.
The Irishman is the reigning UAE champion jockey after he partnered 37 winners to wrestle back the title he lost to Wayne Smith in 2010.
He was a key component to helping Sheikh Hamdan become the champion owner last season but after four years as second rider the pair parted company on Wednesday.
"I am going to be retained by owner Jimmy Long at Thistle Farm in County Kilkenny, Ireland," O'Shea told The National.
"He will have around 60 horses and I will be his first jockey. It's an exciting venture for me and means I can move back home."
The Long family have had numerous runners in Dubai over the years, with the most famous perhaps being King Jock, who won twice in Abu Dhabi six years ago and who ran at Meydan Racecourse in 2010.
If memory of the horse escapes you it will not be long before the name Thistle Bloodstock Limited, the registered owners of the horses, starts to roll off the tongue, according to the 30-year-old jockey.
"Sixty horses is a good start but things are going to get a lot bigger," O'Shea said. "The facilities are mind blowing. We plan to run a lot of horses at the Dubai World Cup Carnival and around the world. We are not afraid of taking on the best."
O'Shea flew to Ireland last week to finalise the deal and to have a look at the training operation that is run by the rookie trainer John Patrick Shanahan. The horses that come to Dubai are likely to be trained by Erwan Charpy, who has a long association with O'Shea and the Long family.
Shanahan has run 17 horses in Ireland this season, with My Special J's in line for a tilt at the Prix Marcel Boussac on Longchamp's Prix de l'Arc de Triomphe card on Sunday. It is perhaps a sign of what is to come, and O'Shea will take the ride in Paris.
The American-bred juvenile has progressed with every run but failed to build on her victory in a Group 2 at the Curragh in Ireland when last in the Group 1 Moyglare Stud Stakes last month.
"She was disappointing in that race but is a very nice filly," O'Shea said. "I sat on her last week so I'm hopeful of a decent run."
O'Shea was considered the most likely jockey to succeed Richard Hills after Sheikh Hamdan's first rider officially retired on World Cup night. The English champion jockey Paul Hanagan was handed the role instead.
Sheikh Hamdan cherry-picked O'Shea after he became the champion apprentice in Ireland, aged 19. He paid for O'Shea to come to Dubai to ride for the likes of Charpy, Paddy Rudkin, John Sadler and Kiaran McLaughlin. It was not until 2008, however, that Angus Gold, Sheikh Hamdan's racing manager, came calling.
"Sheikh Hamdan has been tremendous to work for and has been extremely supportive to my career. When available I would still love to continue riding for him."
CIRRUS DES AIGLES READIES FOR FRANKEL
Corine Barande-Barbe is once again using the Qatar Prix Dollar at Longchamp in France on Saturday as a springboard for Cirrus Des Aigles as the Dubai Sheema Classic victor gears up for a crack at Frankel later this month.
The six year old was second in the extended nine-furlong event last season before going on to score in England’s Champion Stakes, the race at Ascot earmarked for the world’s best horse.
Cirrus Des Aigles has not run since May when he finished second to Golden Lilac in the Prix d’Ispahan. He suffered a leg injury and skin problems and was subsequently disqualified after a prohibited substance was found in his system.
“He came back into serious training at the end of August,” Barande-Barbe said. “He is in good shape and will run well at Longchamp. He needs racing. Usually horses going to Dubai, very often they have a rest. Cirrus had his rest a bit later and now he is ready to go. He has been working well.”
The trainer did not appeal against the disqualification but an investigation is underway as to how a “massive dose” of an anti-inflammatory entered the horse’s system before the race.
Barande-Barbe has taken the precaution of installing a CCTV system in her yard and the result of the inquiry will not be known until the end of the month.
Cirrus Des Aigles was declared yesterday for the Dollar, alongside Chinchon, the 2010 Dubai Sheema Classic fifth who won this season’s International Cup in Singapore.
Other notable entries in the nine-runner line-up include Princess Haya’s Colombian and Green Destiny, the one-time Dubai World Cup favourite owned by Ramzan Kadyrov.
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How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
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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
The biog
Name: Abeer Al Bah
Born: 1972
Husband: Emirati lawyer Salem Bin Sahoo, since 1992
Children: Soud, born 1993, lawyer; Obaid, born 1994, deceased; four other boys and one girl, three months old
Education: BA in Elementary Education, worked for five years in a Dubai school
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.”
At a glance - Zayed Sustainability Prize 2020
Launched: 2008
Categories: Health, energy, water, food, global high schools
Prize: Dh2.2 million (Dh360,000 for global high schools category)
Winners’ announcement: Monday, January 13
Impact in numbers
335 million people positively impacted by projects
430,000 jobs created
10 million people given access to clean and affordable drinking water
50 million homes powered by renewable energy
6.5 billion litres of water saved
26 million school children given solar lighting
