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Expos are designed to bring the world together in one place, build bridges, forge connections and allow ideas to be shared. For some people, the experience can be life-changing.
Cesar Corona was studying electronics engineering at a university in Mexico City when he applied for a summer job at a Mexican restaurant at Expo 1998 Lisbon after reading a leaflet about the event.
I saw so many different cultures, built good relations with people from around the world and it convinced me that I like international affairs
Cesar Corona,
Expo Museum
“It piqued my interest because Expo 1992 Seville was very important in Mexico City, as Mexico had a very interesting pavilion there, and it was widely covered in the media,” he told The National.
Mr Corona, a Mexican-American, got the job and spent five months working at the world's fair. His experience in Portugal was life-changing.
The role opened his eyes to the value of expos and he was moved by the world's fair capacity to educate and inspire people to see beyond everyday life.
His interest in expos turned into a passion, and within months he started studying German in preparation for the next world's fair, Expo 2000 Hanover, where was hired to work at the Mexico pavilion.
“I saw so many different cultures, built good relations with people from around the world and it convinced me that I like international affairs," said Mr Corona, 47.
After his experience in Hanover, he quit engineering and began researching world expos, pursuing a bachelor's degree in international relations and a master's degree in public diplomacy.
That was followed by an internship with the Bureau International des Expositions, which organises world expos.
Three more expos
Over the years, the Los Angeles resident attended three more expos: Expo 2010 Shanghai, Expo 2012 Yeosu Korea and Expo 2015 Milan.
He also started running the ExpoMuseum, an online resource dedicated to spreading awareness about world expos. The website was founded by world's fair historian Urso Chappell in 1998.
Mr Corona collects hundreds of items of expo memorabilia, from T-shirts to posters, badges and expo passports, including one from Expo 2010 Shanghai and another from Expo 2012 Yeosu Korea.
“These passports will tell you very different stories," said Mr Corona.
"The one from Shanghai is nearly empty as there were very long queues for passport stamping, whereas the one from Yeosu has most pages filled as I was working with the Bureau International des Expositions at that time and could easily get stamps.
"This T-shirt is one of my most precious treasures as it symbolises my introduction to world expos. It is from Expo 1998 Lisbon and it has stamps from all the participating countries.”
A trip to Dubai
Last week, he travelled to the UAE to attend Expo 2020 Dubai – his first trip to the Middle East – and he said he was impressed with what he saw.
“I think something that makes the Dubai Expo very progressive in the history of world expos is that there's a plan to make this a smart city, and you can already see the urban design," he said.
"Another thing I loved is that there are no joint pavilions here. Each country has its own space. It doesn't matter if their economy is struggling, or if their size is small.
“The third thing that is also new for me is the monument for Expo workers. It’s a very beautiful way to acknowledge all the work that went into making this. It’s going to remain here as part of the legacy.
"If I had worked at the Expo, I would love to come here in 10 years and show my children my name. It’s like I'm part of this already."
Mr Corona said he planned to spend every day at the Expo speaking to staff and volunteers, taking pictures, exploring one pavilion after another, and sharing a laugh with visitors and families.
Along with his yellow Expo passport, Mr Corona also carried a Dubai Expo map.
"It is part of my tradition to collect stamps on maps or posters, because I want to frame and showcase them in my office. Passports are great but I can’t frame them," he said.
So far, Mr Corona's passport from Expo 2020 Dubai has two stamps, from the Mexico and US pavilions, but he said he was confident he would fill the pages during his two-week trip.
In the meantime, he is on a mission to learn more about the UAE and the Gulf.
“It's impossible to think that in the two weeks that I'm going to spend here I can understand the country and the region, but I can say the flame has been ignited inside me," he said.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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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
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.”
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Jetour T1 specs
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The specs: 2018 Nissan Altima
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Company profile
Date started: December 24, 2018
Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer
Based: Dubai Media City
Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)
Sector: ConsumerTech and FinTech
Cashflow: Almost $1 million a year
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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Allardyce's management career
Clubs (10) - Limerick (1991-1992), Perston North End (1992), Blackpool (1994-1996), Notts County (1997-1999), Bolton Wanderers (1999-2007), Newcastle United (2007-2008), Blackburn Rovers (2008-2010), West Ham United (2011-2015), Sunderland (2016), Crystal Palace (2016-2017)
Countries (1) - England (2016)
