Al Ain resident Tandin, left, won Dh1 million and Bikash, from Bangladesh, walked away with a kilogram of gold. Photo: Mahzooz
Al Ain resident Tandin, left, won Dh1 million and Bikash, from Bangladesh, walked away with a kilogram of gold. Photo: Mahzooz
Al Ain resident Tandin, left, won Dh1 million and Bikash, from Bangladesh, walked away with a kilogram of gold. Photo: Mahzooz
Al Ain resident Tandin, left, won Dh1 million and Bikash, from Bangladesh, walked away with a kilogram of gold. Photo: Mahzooz

Bhutanese barista in Al Ain wins Dh1 million in Mahzooz draw


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A man from Bhutan who works as a barista in Al Ain has won Dh1 million ($272,316) in the latest Mahzooz draw.

Tandin, 28, who is the first from his country to make it to the millionaires' league, has been living in the UAE for the past five years, Ewings, the operator of Mahzooz, said in a press release.

He started participating in the draw about a month back when he first bought the Dh35 water bottle (which qualifies the buyer for a ticket in the draw). On only his fourth attempt he was a winner.

“I feel overwhelmed, and I am still in disbelief that I have become financially independent," he said.

Tandin said he was at work at the coffee shop when the live draw took place and his immediate supervisor informed him about his winnings.

At first he thought his supervisor was joking, but when he saw his friends congratulating him on a Whatsapp chat group and posted screenshots of his name from the live draw, he decided to check his Mahzooz account.

He said the prize money had immediately been credited.

Tandin said he plans to get married soon and intends to continue working at his current job.

"I need to be very careful where I invest my money and consider many factors before making a decision because I am getting married soon," he said.

"I will be using some of my prize money for the wedding expenses. I may also make a few investments back home in Bhutan and help a few of my friends who have been supporting me during my time here in the UAE."

Bikash, 37, from Bangladesh, was another winner – he walked away with a kilogram of gold.

He lives in Ras Al Khaimah and works as a barber. He said he has been participating in the draw since it was launched.

"I was overjoyed to learn that I am the lucky recipient of this much gold. This is a life-changing moment for me, and I feel thankful,” he said.

On April 19, Padam Bahadur, 41, a Nepali driver with a food trading company in Dubai, became an overnight millionaire after scooping the Dh20 million ($5.4 million) jackpot with Mahzooz.

To participate in the draw, people have to buy a bottle of water for Dh35 and receive a ticket with it.

People can take part by registering at www.mahzooz.ae

Those who match six numbers will share a cash prize of at least Dh50 million. Winners who match five numbers will be able to claim a share of Dh1 million, which might increase depending on how many players there are.

People who match four numbers will earn a cash prize of Dh1,000 and players who match three numbers will receive Dh35 or a free play.

Participants have to match seven numbers to win the mega prize of Dh100 million, the largest on offer in the UAE. Nobody has yet claimed the top prize.

Lottery winners tell of how jackpot changed their lives – in pictures

  • UAE residents who struck lucky with Abu Dhabi's Big Ticket draw attended a gala dinner. Organisers of the draw celebrated the winners' good luck at the Alexandra Dhow Cruise in Dubai Marina. All photos by Leslie Pableo / The National
    UAE residents who struck lucky with Abu Dhabi's Big Ticket draw attended a gala dinner. Organisers of the draw celebrated the winners' good luck at the Alexandra Dhow Cruise in Dubai Marina. All photos by Leslie Pableo / The National
  • Richard Isaac and Bouchra Yamani, the two presenters who pick out the raffle tickets and call the winners, interacted with the winners. Some of attendees had won jackpots of between Dh1 million to Dh15 million, while others won Dh90,000
    Richard Isaac and Bouchra Yamani, the two presenters who pick out the raffle tickets and call the winners, interacted with the winners. Some of attendees had won jackpots of between Dh1 million to Dh15 million, while others won Dh90,000
  • 'The National' spoke to winners about how they have spent their grand prize. Shivamurthy Gali Krishnappa won Dh12 million last month. He said he wants to save for his children's future. For now, he is still working as a mechanical engineer for a stainless steel production company
    'The National' spoke to winners about how they have spent their grand prize. Shivamurthy Gali Krishnappa won Dh12 million last month. He said he wants to save for his children's future. For now, he is still working as a mechanical engineer for a stainless steel production company
  • Shahed Ahmed Moulvifaiz, a Bangladeshi car garage owner in Al Ain, won Dh10 million less than a week ago. He wants to bring his family to the UAE, expand his business and spend on his youngest son's education
    Shahed Ahmed Moulvifaiz, a Bangladeshi car garage owner in Al Ain, won Dh10 million less than a week ago. He wants to bring his family to the UAE, expand his business and spend on his youngest son's education
  • Jayaprakash Mariyan Philip had won the Dh1 million prize with nine other people. The funds were split equally, leaving him with Dh100,000. He said he has paid off part of his bank loans
    Jayaprakash Mariyan Philip had won the Dh1 million prize with nine other people. The funds were split equally, leaving him with Dh100,000. He said he has paid off part of his bank loans
  • Zaheenn Kausar was visiting her husband in Abu Dhabi from Pakistan, when he bought a ticket under her name. She proved lucky for her family after winning Dh90,000. She wants to pay for her daughter's university tuition and buy a car for herself
    Zaheenn Kausar was visiting her husband in Abu Dhabi from Pakistan, when he bought a ticket under her name. She proved lucky for her family after winning Dh90,000. She wants to pay for her daughter's university tuition and buy a car for herself
  • Before the Covid-19 pandemic, more than 5,000 people would gather during a live event in Abu Dhabi to watch the draw take place. Since 2020, the draw streams live on social media channels, bringing in even larger crowds
    Before the Covid-19 pandemic, more than 5,000 people would gather during a live event in Abu Dhabi to watch the draw take place. Since 2020, the draw streams live on social media channels, bringing in even larger crowds
  • Many people buy multiple tickets together and then split the prize equally. There are also those who win after buying a ticket alone, allowing them to keep the entire jackpot
    Many people buy multiple tickets together and then split the prize equally. There are also those who win after buying a ticket alone, allowing them to keep the entire jackpot
  • The Abu Dhabi Big Draw has been changing lives since 1992
    The Abu Dhabi Big Draw has been changing lives since 1992
  • The ticket for the grand prize costs Dh500
    The ticket for the grand prize costs Dh500
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Rosewood and Transparent — heart issues

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Taken and This Is Us — cancer

Trial & Error — cognitive disorder prosopagnosia (facial blindness and dyslexia)

Grey’s Anatomy — prosthetic leg

Scorpion — obsessive compulsive disorder and anxiety

Switched at Birth — deafness

One Mississippi, Wentworth and Transparent — double mastectomy

Dragons — double amputee

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Transmission: seven-speed automatic

Power: 400hp

Torque: 560Nm

Price: Dh234,000 - Dh329,000

On sale: now

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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Starring: Hani Razmzi, Maya Nasir and Hassan Hosny

Four stars

Company%20Profile
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Sting & Shaggy

44/876

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Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

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Match info:

Real Betis v Sevilla, 10.45pm (UAE)

Pakistan squad

Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi

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

SHOW COURTS ORDER OF PLAY

Centre Court (4pm UAE/12pm GMT)
Victoria Azarenka (BLR) v Heather Watson (GBR)
Rafael Nadal (ESP x4) v Karen Khachanov (RUS x30)
Andy Murray (GBR x1) v Fabio Fognini (ITA x28)

Court 1 (4pm UAE)
Steve Johnson (USA x26) v Marin Cilic (CRO x7)
Johanna Konta (GBR x6) v Maria Sakkari (GRE)
Naomi Osaka (JPN) v Venus Williams (USA x10)

Court 2 (2.30pm UAE)
Aljaz Bedene (GBR) v Gilles Muller (LUX x16)
Peng Shuai (CHN) v Simona Halep (ROM x2)
Jelena Ostapenko (LAT x13) v Camila Giorgi (ITA)
Jo-Wilfried Tsonga (FRA x12) v Sam Querrey (USA x24)

Court 3 (2.30pm UAE)
Kei Nishikori (JPN x9) v Roberto Bautista Agut (ESP x18)
Carina Witthoeft (GER) v Elina Svitolina (UKR x4)

Court 12 (2.30pm UAE)
Dominika Cibulkova (SVK x8) v Ana Konjuh (CRO x27)
Kevin Anderson (RSA) v Ruben Bemelmans (BEL)

Court 18 (2.30pm UAE)
Caroline Garcia (FRA x21) v Madison Brengle (USA)
Benoit Paire (FRA) v Jerzy Janowicz (POL)

WRESTLING HIGHLIGHTS
Updated: April 26, 2023, 12:15 PM