Tadej Pogacar and Adam Yates to go head-to-head once again at UAE Tour

UAE Team Emirates rider and Tour de France winner Tadej Pogacar will again go head-to-head with Adam Yates in this year's UAE Tour

British rider Yates was declared the winner of the 2020 UAE Tour after the race had to be abandoned with two days to go due to the coronavirus pandemic.

Early confirmations for the 2021 race, that will take place from February 21-27, include Yates, Slovenian sensation Pogecar, four-time Tour de France winner Chris Froome and UAE Tour debutant Mathieu van der Poel from UCI ProTeam Alpecin-Fenix.

Filippo Ganna, the time-trial ace, also makes his UAE Tour debut along with renowned sprinters suchPascal Ackermann, Fernando Gaviria, Sam Bennett and Caleb Ewan, the stage 2 winner and runner up at the Hatta Dam last year.

According to the UAE Tour organisers Abu Dhabi Sports Council, Dubai Sports Council and RCS Sport, all 19 UCI WorldTeams have confirmed to riding the one and only WorldTour race in the Middle East.

Yates, who recently joined the British Ineos Grenadiers outfit, will again pit himself against Pogacar.

Last year, Yates took Stage 3 atop Jebel Hafeet but his Slovenian rival was victorious at the same summit finish two stages later before a close finale left a minute and one second between the two riders in the General Classification.

British rider Froome, who recently completed a move to the Israel Start-Up Nation team, will be hoping to begin the new season on a positive note as he continues his comeback from serious injury.

In 2019, Froome crashed into a wall during the Criterium du Dauphine and suffered a fractured pelvis, right femur, broken ribs and a broken right elbow.

He only returned fully to the saddle in last year's UAE Tour and left Team Ineos at the end of the 2020 season.

Away from the GC fight are Ganna who comes on the back of a sensational 2020 season in which he took four stage victories at the Giro d’Italia and an ITT World Champion’s Rainbow Jersey.

Swiss rider Marc Hirschi, who has joined UAE Team Emirates, will also ride the race for the first time.

The 2020 Tour de France stage winner and Road World Championship Bronze medalist will be keen to impress after signing for the host team in the New Year.

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Gallery: Stage 2 of 2020 UAE Tour

Kat Wightman's tips on how to create zones in large spaces

Area carpets or rugs are the easiest way to segregate spaces while also unifying them.
Lighting can help define areas. Try pendant lighting over dining tables, and side and floor lamps in living areas.
Keep the colour palette the same in a room, but combine different tones and textures in different zone. A common accent colour dotted throughout the space brings it together.
Don’t be afraid to use furniture to break up the space. For example, if you have a sofa placed in the middle of the room, a console unit behind it will give good punctuation.
Use a considered collection of prints and artworks that work together to form a cohesive journey.

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

if you go

The flights
Fly direct to Kutaisi with Flydubai from Dh925 return, including taxes. The flight takes 3.5 hours. From there, Svaneti is a four-hour drive. The driving time from Tbilisi is eight hours.
The trip
The cost of the Svaneti trip is US$2,000 (Dh7,345) for 10 days, including food, guiding, accommodation and transfers from and to Tbilisi or Kutaisi. This summer the TCT is also offering a 5-day hike in Armenia for $1,200 (Dh4,407) per person. For further information, visit www.transcaucasiantrail.org/en/hike/

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KILLING OF QASSEM SULEIMANI

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Rashmee Roshan Lall: Sound of silence in South Asia

Fanar Haddad: The Iranian response will be gradual

Richard Olson: Why Afghanistan will be very wary

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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Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed

Rating: 1/5

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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The finalists

Player of the Century, 2001-2020: Cristiano Ronaldo (Juventus), Lionel Messi (Barcelona), Mohamed Salah (Liverpool), Ronaldinho

Coach of the Century, 2001-2020: Pep Guardiola (Manchester City), Jose Mourinho (Tottenham Hotspur), Zinedine Zidane (Real Madrid), Sir Alex Ferguson

Club of the Century, 2001-2020: Al Ahly (Egypt), Bayern Munich (Germany), Barcelona (Spain), Real Madrid (Spain)

Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)

Club of the Year: Bayern Munich, Liverpool, Real Madrid

Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)

Agent of the Century, 2001-2020: Giovanni Branchini, Jorge Mendes, Mino Raiola

The specs

Engine: 3.5-litre V6

Power: 272hp at 6,400rpm

Torque: 331Nm from 5,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.7L/100km

On sale: now

Price: Dh149,000

The specs

Engine: 4.0-litre flat-six

Power: 510hp at 9,000rpm

Torque: 450Nm at 6,100rpm

Transmission: 7-speed PDK auto or 6-speed manual

Fuel economy, combined: 13.8L/100km

On sale: Available to order now

Price: From Dh801,800

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COMPANY PROFILE

Name: N2 Technology

Founded: 2018

Based: Dubai, UAE

Sector: Startups

Size: 14

Funding: $1.7m from HNIs

Tadej Pogacar and Adam Yates to go head-to-head once again at UAE Tour

British rider was declared winner of 2020 race, cut short due to Covid-19, after finishing more than a minute ahead of the soon-to-be Tour de France champion

Gallery: Stage 2 of 2020 UAE Tour

Kat Wightman's tips on how to create zones in large spaces

Ten tax points to be aware of in 2026

if you go

AL%20BOOM

KILLING OF QASSEM SULEIMANI

Voy!%20Voy!%20Voy!

Dubai Bling season three

WHAT IS A BLACK HOLE?

More from Aya Iskandarani

The finalists

The specs

The specs

HER%20FIRST%20PALESTINIAN