A woman takes a selfie in front of the Olympic Rings in Tokyo. Getty
A woman takes a selfie in front of the Olympic Rings in Tokyo. Getty
A woman takes a selfie in front of the Olympic Rings in Tokyo. Getty
A woman takes a selfie in front of the Olympic Rings in Tokyo. Getty

Japan declares coronavirus emergency three months before Olympics


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Japan announced a new coronavirus emergency in Tokyo and three other regions on Friday, as the country battles surging infections just three months before the Olympic opening ceremony.

The nation's virus outbreak remains much smaller than in many countries, but a recent uptick in cases has officials and medical professionals worried, even as the government and Olympic organisers insist this summer's Games will go ahead.

"Today we decided to declare a state of emergency in Tokyo, Kyoto, Osaka and Hyogo prefectures," Prime Minister Yoshihide Suga announced, citing the rise of infections involving new virus variants. The measure will run from April 25 to May 11.

The country's minister for virus response Yasutoshi Nishimura earlier warned of a "strong sense of crisis," saying current restrictions were not sufficient.

The measures will be tougher than Japan's last state of emergency, imposed in parts of the country from January, but still far short of the harsh lockdowns seen in some parts of the world.

Authorities want bars and restaurants to close, and to shutter major commercial facilities like malls.

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  • Rikako Ikee after winning the 100m butterfly final during the Japan National Swimming Championships at the Tokyo Aquatics Centre on Sunday, April 4, 2021. AFP
    Rikako Ikee after winning the 100m butterfly final during the Japan National Swimming Championships at the Tokyo Aquatics Centre on Sunday, April 4, 2021. AFP
  • Rikako Ikee reacts after winning the 100m butterfly final during the Japan National Swimming Championships, and qualifying for the Tokyo Olympics. AFP
    Rikako Ikee reacts after winning the 100m butterfly final during the Japan National Swimming Championships, and qualifying for the Tokyo Olympics. AFP
  • Japanese swimmer Rikako Ikee qualified for the Tokyo Olympics just two years after she was diagnosed with leukaemia. AFP
    Japanese swimmer Rikako Ikee qualified for the Tokyo Olympics just two years after she was diagnosed with leukaemia. AFP
  • Rikako Ikee reacts after winning the 100m butterfly final during the Japan National Swimming Championships. AFP
    Rikako Ikee reacts after winning the 100m butterfly final during the Japan National Swimming Championships. AFP
  • Rikako Ikee reacts after winning the 100m butterfly final during the Japan National Swimming Championships. She thus qualified for the 4x100 medley relay at this summer's Games. AFP
    Rikako Ikee reacts after winning the 100m butterfly final during the Japan National Swimming Championships. She thus qualified for the 4x100 medley relay at this summer's Games. AFP
  • Japanese swimmers, gold medallist Rikako Ikee, centre, silver medallist Suzuka Hasegawa, left, and bronze medallist Chiharu Iitsuka after competing in the 100m butterfly final during the Japan National Swimming Championships. AFP
    Japanese swimmers, gold medallist Rikako Ikee, centre, silver medallist Suzuka Hasegawa, left, and bronze medallist Chiharu Iitsuka after competing in the 100m butterfly final during the Japan National Swimming Championships. AFP
  • Rikako Ikee competes in the women's 100-meter butterfly at the national championships at Tokyo Aquatics Centre in Tokyo. AP
    Rikako Ikee competes in the women's 100-meter butterfly at the national championships at Tokyo Aquatics Centre in Tokyo. AP
  • Leukaemia survivor Rikako Ikee has qualified for the Tokyo Olympics. AFP
    Leukaemia survivor Rikako Ikee has qualified for the Tokyo Olympics. AFP

The measure will coincide with the Golden Week holiday that is Japan's busiest travel period of the year, and could involve cutting some train and bus services to discourage movement.

Spectators will also be barred from sports events, which can continue behind closed doors, and remote working will be encouraged.

Although the measures start from Sunday, Tokyo governor Yuriko Koike urged residents to start taking precautions immediately.

The spike in infections is already disrupting everything from the Olympic torch relay, which has been forced off public roads in several regions, to test events and qualifiers.

Australia withdrew from the Diving World Cup scheduled for May 1-6 in Tokyo, saying it was "not safe" to travel to Japan.

Japan's vaccine programme is moving slowly meanwhile, with just over 1.5 million people given a first shot and only around 827,000 fully vaccinated.

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A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

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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

World Test Championship table

1 India 71 per cent

2 New Zealand 70 per cent

3 Australia 69.2 per cent

4 England 64.1 per cent

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6 West Indies 33.3 per cent

7 South Africa 30 per cent

8 Sri Lanka 16.7 per cent

9 Bangladesh 0

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Omar Yabroudi's factfile

Born: October 20, 1989, Sharjah

Education: Bachelor of Science and Football, Liverpool John Moores University

2010: Accrington Stanley FC, internship

2010-2012: Crystal Palace, performance analyst with U-18 academy

2012-2015: Barnet FC, first-team performance analyst/head of recruitment

2015-2017: Nottingham Forest, head of recruitment

2018-present: Crystal Palace, player recruitment manager

 

 

 

 

Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

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Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

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Wales 20-19 France

Wales: T: Wainwright, Moriarty. Cons: Biggar (2) Pens: Biggar 2

France: T: Vahaamahina, Ollivon, Vakatawa Cons: Ntamack (2)

What sanctions would be reimposed?

Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:

  • An arms embargo
  • A ban on uranium enrichment and reprocessing
  • A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
  • A targeted global asset freeze and travel ban on Iranian individuals and entities
  • Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods

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Mario Benedetti, Penguin Modern Classics

 

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Four stars

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