The Riyadh Season festival may be over, but celebrations still abound in the Saudi Arabian capital.
With the pandemic forcing families and colleagues to experience Ramadan largely indoors for the past two years, the recent easing of health and movement restrictions across the kingdom has restored the pulsating social atmosphere associated with the holy month.
Spending a weekend in the city, I realise Riyadh has bounced back to its pre-Covid-19 rhythm without missing a beat. Mosques and iftar tents are open again to the masses, the malls and parks are full, while the evening traffic on King Abdullah Road is as heavy as ever.
One of the many bottlenecks in the city’s main arterial road flares up around sunset each night of Ramadan, as cars from both directions approach the business and leisure hub, the Kingdom Centre.
At more than 302 metres, not only is it one of the tallest skyscrapers in the world, but the building is home to what has become a lavish Ramadan institution.
Located within Kingdom Ballroom, the Ramadan tent at Four Seasons Hotel Riyadh is one of the hottest tickets in the city when it comes to family and corporate bookings. It is another sold-out affair when I arrive on Friday, with all 1,700 tickets snapped up days in advance, according to the hotel concierge.
It is not hard to understand why. To say the tent is luxurious is an understatement.
A seemingly endless number of gilded chandeliers shine down on an opulent setting where diners sit on ornately decorated chairs and couches, many of which come with their own flat screen television sets screening the latest Ramadan dramas.
In the middle of the hall are countless food stations serving everything from Saudi staples such as kabsa (aromatic rice with roast chicken) and saleeg (a rice cooked in a cream and milky broth and topped with chunks of tender beef), to a wide array of Italian pastas, Indian curries and Moroccan stews.
Each table comes with a number of Arabic dips and starter dishes, as well as a pot full of piping hot Saudi gahwa.
Overseeing the 170 staff working the room and cooking stations is the director of banquets Mouhsine Elkoutari.
While the tent is the place to be seen, the Moroccan says the air of exclusivity is undercut by a sense of genuine joy.
“It very much feels like a reunion and from what I have been seeing here every day is that people just want to connect with each other again,” he says. "Our tent is the most famous in Riyadh and people look forward to coming here. But this time I feel that what we are doing is not being the star of the show. We are providing that atmosphere for people to sit down together, break bread, talk and look at each other’s faces.
"It sounds simple to say this but considering what happened over the last few years, this is really important.”
Walking it off
With no suhoor service to follow, we are ushered out of the tent before 9pm and I join the sea of traffic on King Abdullah Road for a 16 kilometre-ride that takes nearly 50 minutes.
It is instructive, however, as driver Akhtar Hussain, a 20-year Riyadh resident from Bangladesh, explains the ebb and flow of the traffic.
“Basically in Ramadan, there are two difficult times on the road. The hour before breaking the fast and from 9pm until 3am. This is when people are on the move,” he says. “So right now people are going out to see friends or do some shopping.”
With Eid approaching at the end of the week, Hussain says a lot of the older shopping centres such as Taibah Markets and Al Oweis Mall, both located off the main road, are getting heavy traffic due to their ample supply of the latest kanduras and abayas.
After all that lavish eating, I am looking for a place to burn off those calories.
I disembark outside one of the many gates of Boulevard Riyadh, a 900,000-square-metre leisure district forming the centrepiece of Riyadh Season, a five-month city-wide entertainment and cultural festival that ended in March.
Where Boulevard Riyadh hosted everything from pop concerts and award shows to E-gaming competitions, during Ramadan, it functions as an open-air park with thousands walking across its nine distinctly designed zones — from shopping and music to sports — and sampling its countless restaurants and cafes.
I spot Pakistani businessman Wasif Khan and his Indonesian wife Dianne at the Takenda Zone, a futuristic space drenched in blue neon lights, featuring arcades and street art. At its centre is a large rotating globe beaming various graphics.
With free entry to Riyadh Boulevard throughout Ramadan — largely owing to the lack of concerts and events taking place within the site during the time — the site takes on a family-friendly vibe.
“This is the first time we came here because I am not so interested in the concerts,” Dianne says. “We were recommended to come here as it is a good place to exercise. With Ramadan falling before the real summer begins, you are seeing a lot of people taking the opportunity to be outside and walking.”
A meaningful exchange
After notching up 7km and working up a decent sweat, I needed an icy gulp of cold brew coffee. I hail a taxi and make the 30-minute trip to what I was told is the most happening coffee spot in the city.
The popularity of Arabica Riyadh Roastery, in the upscale Hittin District, was evident from the dozens and dozens of people queuing up outside its doors.
While the Japanese coffee brand has 11 locations across the UAE and is available across the GCC, the Riyadh outlet is easily the region's flagship. Spread across two levels and featuring a sleek minimal white design, it resembles a futuristic coffee shop made by tech company Apple.
With a 40-minute waiting time, I spend the early hours of the night chatting with some young Saudis about their Ramadan experience.
“Riyadh really is becoming the centre for Saudi youth culture,” says Majed Abdullah, a university student from Dammam, a coastal city in the kingdom’s Eastern Province. “And during Ramadan it is all about catching up and trying new places, like the latest coffee shops, and just talking and laughing.”
Fellow student Mishal Riad, who lives in Riyadh, says there is another reason why cafes are popular during Ramadan.
“Checking out the latest restaurants is not something we do in Ramadan as it's mostly about inviting people to each other’s homes rather than going out. It’s about making that extra effort because going out to eat is easy,” he says.
“But once we do that and share a meal together, we then go out to the coffee shop and just talk all night. It feels for me like it is sincere doing that way. Ramadan is great in that it teaches us a lot about what really matters.”
Scroll through the gallery to see what it feels like to visit Global Village late at night:
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
UAE currency: the story behind the money in your pockets
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
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 chef's advice
Troy Payne, head chef at Abu Dhabi’s newest healthy eatery Sanderson’s in Al Seef Resort & Spa, says singles need to change their mindset about how they approach the supermarket.
“They feel like they can’t buy one cucumber,” he says. “But I can walk into a shop – I feed two people at home – and I’ll walk into a shop and I buy one cucumber, I’ll buy one onion.”
Mr Payne asks for the sticker to be placed directly on each item, rather than face the temptation of filling one of the two-kilogram capacity plastic bags on offer.
The chef also advises singletons not get too hung up on “organic”, particularly high-priced varieties that have been flown in from far-flung locales. Local produce is often grown sustainably, and far cheaper, he says.
Top 10 in the F1 drivers' standings
1. Sebastian Vettel, Ferrari 202 points
2. Lewis Hamilton, Mercedes-GP 188
3. Valtteri Bottas, Mercedes-GP 169
4. Daniel Ricciardo, Red Bull Racing 117
5. Kimi Raikkonen, Ferrari 116
6. Max Verstappen, Red Bull Racing 67
7. Sergio Perez, Force India 56
8. Esteban Ocon, Force India 45
9. Carlos Sainz Jr, Toro Rosso 35
10. Nico Hulkenberg, Renault 26
HUNGARIAN GRAND PRIX RESULT
1. Sebastian Vettel, Ferrari 1:39:46.713
2. Kimi Raikkonen, Ferrari 00:00.908
3. Valtteri Bottas, Mercedes-GP 00:12.462
4. Lewis Hamilton, Mercedes-GP 00:12.885
5. Max Verstappen, Red Bull Racing 00:13.276
6. Fernando Alonso, McLaren 01:11.223
7. Carlos Sainz Jr, Toro Rosso 1 lap
8. Sergio Perez, Force India 1 lap
9. Esteban Ocon, Force India 1 lap
10. Stoffel Vandoorne, McLaren 1 lap
11. Daniil Kvyat, Toro Rosso 1 lap
12. Jolyon Palmer, Renault 1 lap
13. Kevin Magnussen, Haas 1 lap
14. Lance Stroll, Williams 1 lap
15. Pascal Wehrlein, Sauber 2 laps
16. Marcus Ericsson, Sauber 2 laps
17r. Nico Huelkenberg, Renault 3 laps
r. Paul Di Resta, Williams 10 laps
r. Romain Grosjean, Haas 50 laps
r. Daniel Ricciardo, Red Bull Racing 70 laps
Company%C2%A0profile
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Company name: Farmin
Date started: March 2019
Founder: Dr Ali Al Hammadi
Based: Abu Dhabi
Sector: AgriTech
Initial investment: None to date
Partners/Incubators: UAE Space Agency/Krypto Labs
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How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
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