As part of our build-up to the Tokyo Olympics we will be profiling Arab athletes and para-athletes as well as those from the Mena region hoping to make it to this summer's Games
With the Olympics fast approaching, there are scores of Arab athletes still looking to punch their tickets to Tokyo, but it’s not just the competitors that are working hard to fulfil their dream of making it to the Games.
In a gym somewhere in Amsterdam, Egyptian coach Hakim Salem is busy preparing the Dutch women’s 3x3 basketball national squad for this month’s Olympic qualifying tournament, hoping that his side will be one of the eight teams that will feature in the sport’s debut appearance at the Games.
After a trio of successful 3x3 competitions held at the Youth Olympic Games in 2010, 2014 and 2018, the ever-popular street version of basketball – played on a half-court – will be part of a senior Olympics for the first time in Tokyo this summer. It will be staged at the Aomi Urban Sports Park, alongside sport climbing, where fans and players can enjoy spectacular views of the Tokyo Bay.
Salem, an Egyptian who immigrated to the Netherlands with his parents when he was 14 years old, has been involved with the Dutch national basketball team set up since 2015 and is currently the head coach of both the 5-on-5 and 3x3 women’s national sides, along with the federation’s talent programme.
The 43-year-old has enjoyed a great degree of success with the 3x3 squad so far, clinching silver at the Europe Cup in Bucharest in 2018 and placing fourth at the 2017 World Cup in Nantes.
Tokyo hopes
Four teams – Russian Olympic committee, China, Mongolia and Romania – have already gained direct entry into the Tokyo Olympics, courtesy of their ranking, and Salem is working hard with his side to try and secure one of the remaining four spots.
The top three teams in the Olympic Qualifying Tournament in Graz (May 26-30) will make it to the Games, and the last ticket will be up for grabs at an event in Hungary next month.
"It's quite interesting to see the 3x3 grow and really become very popular. When we had the World Championship in Amsterdam, we had a venue with a capacity for 3,000 people and it was sold out every day, it was really great," Salem told The National.
“We have a very good chance to qualify for Tokyo but we know also that the competition is very tough.”
‘A players’ game’
The 3x3 basketball discipline has experienced exponential growth over the past decade. This fast-paced version of the game is described as a “10-minute sprint”, and gives the audience the chance to enjoy multiple games in a row without a hint of boredom creeping in. Play never stops, since as soon as a team scores, the ball is immediately back in play.
Each side has three players on the court and one player on the sidelines as a substitute. Coaches are not allowed to coach during the games, which means all possible scenarios are well thought-out before the action begins.
“They’re on their own,” Salem says of his charges.
“Like FIBA said, they wanted to have a player game, it’s only for the players now, let them play. And I agree, because you teach them how to take the right decisions, you teach them how to play and you say, ‘Okay, go ahead, have fun, it’s on you now’.
“So for me it’s only preparing and then trying to sit back and watch the game which is very difficult because you cannot help them, you’re just watching the game, I can’t do anything.”
‘Terrible’ times during Covid
The pandemic has wreaked havoc with the global sporting calendar over the past 14 months and 3x3 basketball was no exception. Salem admits it has been extremely challenging to keep his players’ motivation up, and the lack of playing opportunities means the team will head to Graz with limited competition under their belt.
“It was terrible actually because we didn’t have any games at all,” Salem said.
In an attempt to give the players a glimpse of action, Salem organised a few scrimmage games against the German national team, who managed to cross the border and visit the Dutch side at their gym.
“Still, it is a scrimmage game. It’s not like the real stuff,” he explained. “After that I decided to add some young boys to the team so we can scrimmage against them; it gives you a different perspective a little bit, physically. So that was a very good mindset of us, to play against the boys.”
Trip to Cairo
On Thursday, Salem and the Dutch team will travel to Cairo after he succeeded in arranging a couple of friendly games against the Egyptian national team, which would give the players a chance to compete in hot weather and in different conditions.
“Egypt will be our first international game in one-and-a-half years,” says Salem.
“The last year really was very hard because there was no perspective, like 'Okay we’re practicing, but why are we practicing?' We don’t have games, we don’t have anything, we don’t know if the Olympics are going through or not, so there were a lot of question marks.
“And let’s be honest, the players want to play games.
“So let’s say around December it was a really, really hard time for us to keep everyone checked in, motivated – I mean they still come practice but it’s a different type of practice.”
Salem realised it was a good idea to give the players some time off before training resumed in January.
“We started again to keep the spirit high, but it was difficult because in Holland we had a very tough lockdown. So we practice but only the Olympic sports are practicing and normally you can say, 'Okay you know what, let’s go and play today some soccer, or let’s play volleyball, or let’s do something else with a different team'. But now it was only the coach, eight players and that’s who we see every day, sometimes twice a day.
“So it wasn’t fun to be honest but I can see now that they have perspective, ‘Oh we’re going to travel to Egypt, that’s great’, they’re very psyched and hyped. So they’ve started to get this motivation.”
Proud Egyptian
Salem is keen to see how his players will react to the pressure of the short visit to Cairo and on a personal level he is excited to be going back home in a working capacity.
“I’m very proud to say I’m an Egyptian man, who grew up in Egypt and transitioned to Holland and became the first foreign national team coach on the women’s side. I’m very proud of that,” he said.
There will be one more stop for the Dutch squad before Olympic qualifiers, as they’ve been invited to compete in a 3x3 Women's Series event in Mies, Switzerland from May 15-16.
Salem is feeling confident about the team’s chances but also acknowledges that the margins in the game are extremely slim.
An attractive product
He believes 3x3 basketball will get a huge boost by making its Olympics debut, which would give the sport a much wider platform to showcase everything that is special about it.
“3x3 is very attractive, so all the young generation and the young kids are going to love seeing it on TV,” he said.
“You know when you watch a 5-on-5 game, you have to almost sit down for two hours and let’s be honest, not all the games are fun to watch. But 3x3, because it’s very fast, it’s a lot of mistakes, it’s a lot of oohs and aahs, it will be great to watch on TV.”
Salem began his career in coaching basketball when he was 23 years old. When he transitioned into 3x3, he realised the game had grown so rapidly and he had to redo the federation’s scouting model in order to find the right type of players that can endure the physicality of 3x3.
“It’s much more physical than 5-on-5 but I think this year they are trying to keep it as clean as possible. Because this started of course like street basketball, so you have to be physical. And also the referees don’t want to call a lot of fouls because they want the game to continue,” he explains.
“But it is very, very hard and tiring if they are running back and forth, back and forth, it’s really different conditioning. It becomes a little bit physical and if you lose your mind and you make let’s say seven team fouls, you get two free throws and two free throws are very expensive, so you have to be smart also and keep your mind and head cool a little bit and stay with the game plan, no fouls, good defence. It’s totally different defence to 5-on-5; in 5-on-5 you can help your teammate a little bit, 3x3 you have to do a lot of one-on-one.”
Great potential
Salem has kept a close eye on the development of 3x3 in Egypt and believes his home country has a strong chance of making it to the Olympics one day. The women’s team are already African champions.
“Egypt has a very, very good basketball team, the only thing I miss with them is discipline and some more experience,” he said.
“When I grew up, I can still vividly remember every day, after we eat in Ramadan, you go outside and you play soccer, just on the street. You block the street and you make like a tournament. That’s how we did it in the past.
“Right now, if you look at Egypt, they’re really growing in soccer pitches, basketball courts, so it’s easy now to say, ‘Okay it’s now 9pm, it’s only 30 degrees, not too hot, and let’s play’.
“When I was in 2007 in Egypt and we decided to go to a club, El Shams club, and we decided to have just 3x3 pick-up games, everyone came from around the club just to play. All of a sudden we had four teams on the side waiting to come in and we had a great tournament because the weather is good, the court is good and we have basketball players in Egypt.
“So I think 3x3 will be even bigger if the Egyptian federation decides to put more focus on it.”
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.
Email sent to Uber team from chief executive Dara Khosrowshahi
From: Dara
To: Team@
Date: March 25, 2019 at 11:45pm PT
Subj: Accelerating in the Middle East
Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.
Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.
I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.
This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.
It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.
Uber on,
Dara
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Scoreline
Australia 2-1 Thailand
Australia: Juric 69', Leckie 86'
Thailand: Pokklaw 82'
Yahya Al Ghassani's bio
Date of birth: April 18, 1998
Playing position: Winger
Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda
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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UAE players with central contracts
Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.
Manchester City (0) v Liverpool (3)
Uefa Champions League, quarter-final, second leg
Where: Etihad Stadium
When: Tuesday, 10.45pm
Live on beIN Sports HD
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Gulf Under 19s final
Dubai College A 50-12 Dubai College B
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Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
More from Neighbourhood Watch:
more from Janine di Giovanni
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
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Tentative schedule of 2017/18 Ashes series
1st Test November 23-27, The Gabba, Brisbane
2nd Test December 2-6, Adelaide Oval, Adelaide
3rd Test Dcember 14-18, Waca, Perth
4th Test December 26-30, Melbourne Cricket Ground, Melbourne
5th Test January 4-8, Sydney Cricket Ground, Sydney
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
MATCH INFO
Arsenal 1 (Aubameyang 12’) Liverpool 1 (Minamino 73’)
Arsenal win 5-4 on penalties
Man of the Match: Ainsley Maitland-Niles (Arsenal)
MATCH INFO
Norwich City 0 Southampton 3 (Ings 49', Armstrong 54', Redmond 79')
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