• Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai, Minister of Finance and Chairman of Dubai Aluminium Company inaugurates DUBAL's twenty-five year anniversary celebrations in Dubai on January 9, 2005. Sheikh Hamdan died on Wednesday, March 24, 2021. Reuters
    Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai, Minister of Finance and Chairman of Dubai Aluminium Company inaugurates DUBAL's twenty-five year anniversary celebrations in Dubai on January 9, 2005. Sheikh Hamdan died on Wednesday, March 24, 2021. Reuters
  • Chard Hills and Sheikh Hamdan bin Rashid after winning The Coronation Stakes with Ghanaati at the Royal Ascot. The popularity of horseracing in the UAE is widely attributed to Sheikh Hamdan.
    Chard Hills and Sheikh Hamdan bin Rashid after winning The Coronation Stakes with Ghanaati at the Royal Ascot. The popularity of horseracing in the UAE is widely attributed to Sheikh Hamdan.
  • Sheikh Hamdan bin Rashid signs an inauguration document at the opening ceremony of the largest power production and water desalination plant in the UAE, in Dubai, on April 8, 2013. Sarah Dea / The National
    Sheikh Hamdan bin Rashid signs an inauguration document at the opening ceremony of the largest power production and water desalination plant in the UAE, in Dubai, on April 8, 2013. Sarah Dea / The National
  • Sheikh Hamdan bin Rashid pictured at the Meydan Racecourse with winner of the 1,200m race, Muarrab, and rider Paul Hanagan in March 5, 2016. Pawan Singh / The National
    Sheikh Hamdan bin Rashid pictured at the Meydan Racecourse with winner of the 1,200m race, Muarrab, and rider Paul Hanagan in March 5, 2016. Pawan Singh / The National
  • Sheikh Hamdan bin Rashid is presented with the Dubai World Cup trophy in 2015 after Prince Bishop won the showpiece race. Pawan Singh / The National
    Sheikh Hamdan bin Rashid is presented with the Dubai World Cup trophy in 2015 after Prince Bishop won the showpiece race. Pawan Singh / The National
  • Sheikh Hamdan bin Rashid speaks at the opening session of the Annual Meetings of the Arab Financial Institutions and the Fourth Meeting of the Council of Arab Ministers of Finance on April 2, 2013. Razan Alzayani / The National
    Sheikh Hamdan bin Rashid speaks at the opening session of the Annual Meetings of the Arab Financial Institutions and the Fourth Meeting of the Council of Arab Ministers of Finance on April 2, 2013. Razan Alzayani / The National
  • Sheikh Hamdan bin Rashid greets Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, during an iftar reception at Mushrif Palace on July 1, 2014. With them is Sheikh Hamdan bin Zayed, the Ruler's Representative in Al Dhafra Region. Mohamed Al Hammadi / Crown Prince Court - Abu Dhabi
    Sheikh Hamdan bin Rashid greets Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, during an iftar reception at Mushrif Palace on July 1, 2014. With them is Sheikh Hamdan bin Zayed, the Ruler's Representative in Al Dhafra Region. Mohamed Al Hammadi / Crown Prince Court - Abu Dhabi
  • Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, speaks with Sheikh Hamdan bin Rashid during an Eid Al Adha reception at Mushrif Palace on September 2, 2017. Mohamed Al Hammadi / Crown Prince Court - Abu Dhabi
    Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, speaks with Sheikh Hamdan bin Rashid during an Eid Al Adha reception at Mushrif Palace on September 2, 2017. Mohamed Al Hammadi / Crown Prince Court - Abu Dhabi
  • Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Sheikh Mohamed bin Hamad Al Sharqi, Crown Prince of Fujairah, and Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, attend a wedding at then Armed Forces Officers Club on March 23, 2016. Ryan Carter / Crown Prince Court - Abu Dhabi
    Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Sheikh Mohamed bin Hamad Al Sharqi, Crown Prince of Fujairah, and Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, attend a wedding at then Armed Forces Officers Club on March 23, 2016. Ryan Carter / Crown Prince Court - Abu Dhabi
  • Sheikh Hamdan bin Rashid distributes the Distinguished Student Awards at Dubai International Convention Centre on April 8, 2008. Jeffrey E. Biteng / The National
    Sheikh Hamdan bin Rashid distributes the Distinguished Student Awards at Dubai International Convention Centre on April 8, 2008. Jeffrey E. Biteng / The National
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Sheikh Mansour bin Zayed, UAE Deputy Prime Minister and Minister of Presidential Affairs, and Sheikh Hamdan bin Rashid, attend a UAE Cabinet meeting at Wahat Al Karama on March 5, 2017. Ryan Carter / Crown Prince Court - Abu Dhabi
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Sheikh Mansour bin Zayed, UAE Deputy Prime Minister and Minister of Presidential Affairs, and Sheikh Hamdan bin Rashid, attend a UAE Cabinet meeting at Wahat Al Karama on March 5, 2017. Ryan Carter / Crown Prince Court - Abu Dhabi
  • Sheikh Hamdan bin Rashid greets Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman, during an Eid Al Adha reception at Mushrif Palace on August 11, 2019. Eissa Al Hammadi / Ministry of Presidential Affairs
    Sheikh Hamdan bin Rashid greets Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman, during an Eid Al Adha reception at Mushrif Palace on August 11, 2019. Eissa Al Hammadi / Ministry of Presidential Affairs
  • Sheikh Mohamed bin Zayed and Sheikh Mohammed bin Rashid attend the Determination Retreat, at the Presidential Palace on March 10, 2019. Also present are Sheikh Hamdan bin Rashid and Sheikh Hazza bin Zayed, Vice Chairman of the Abu Dhabi Executive Council. Ryan Carter for the Ministry of Presidential Affairs
    Sheikh Mohamed bin Zayed and Sheikh Mohammed bin Rashid attend the Determination Retreat, at the Presidential Palace on March 10, 2019. Also present are Sheikh Hamdan bin Rashid and Sheikh Hazza bin Zayed, Vice Chairman of the Abu Dhabi Executive Council. Ryan Carter for the Ministry of Presidential Affairs
  • Sheikh Hamdan bin Rashid presents an award to Mohammed Ali bin Zayed Al Falasi, Deputy Governor of the UAE Central Bank, on March 11, 2019. Victor Besa / The National
    Sheikh Hamdan bin Rashid presents an award to Mohammed Ali bin Zayed Al Falasi, Deputy Governor of the UAE Central Bank, on March 11, 2019. Victor Besa / The National
  • Sheikh Hamdan bin Rashid offers condolences to Sheikh Tahnoon bin Mohamed, Ruler's Representative in Al Ain Region, and Sheikh Mohamed bin Zayed on the death of Sheikh Sultan bin Zayed at Al Mushrif Palace on November 21, 2019. Rashed Al Mansoori / Ministry of Presidential Affairs
    Sheikh Hamdan bin Rashid offers condolences to Sheikh Tahnoon bin Mohamed, Ruler's Representative in Al Ain Region, and Sheikh Mohamed bin Zayed on the death of Sheikh Sultan bin Zayed at Al Mushrif Palace on November 21, 2019. Rashed Al Mansoori / Ministry of Presidential Affairs
  • Sheikh Hamdan bin Rashid offers condolences to Sheikh Suroor bin Mohamed on the death of Sheikh Sultan, at Al Mushrif Palace on November 21, 2019. Hamad Al Mansoori for the Ministry of Presidential Affairs
    Sheikh Hamdan bin Rashid offers condolences to Sheikh Suroor bin Mohamed on the death of Sheikh Sultan, at Al Mushrif Palace on November 21, 2019. Hamad Al Mansoori for the Ministry of Presidential Affairs
  • Sheikh Mohammed bin Rashid with his father, Sheikh Rashid, and brother Sheikh Hamdan Bin Rashid Al Maktoum in 1963
    Sheikh Mohammed bin Rashid with his father, Sheikh Rashid, and brother Sheikh Hamdan Bin Rashid Al Maktoum in 1963
  • Sheikh Hamdan bin Rashid attends the Water, Energy, Technology and Environment Exhibition (WETEX) and the Dubai Solar Show 2020 virtually on October 26, 2020. Courtesy Dubai Media Office
    Sheikh Hamdan bin Rashid attends the Water, Energy, Technology and Environment Exhibition (WETEX) and the Dubai Solar Show 2020 virtually on October 26, 2020. Courtesy Dubai Media Office
  • Sheikh Hamdan bin Rashid offers condolences to Sheikh Tahnoon bin Mohamed on the death of Sheikh Sultan, at Al Mushrif Palace on November 21, 2019. Hamad Al Mansoori for the Ministry of Presidential Affairs
    Sheikh Hamdan bin Rashid offers condolences to Sheikh Tahnoon bin Mohamed on the death of Sheikh Sultan, at Al Mushrif Palace on November 21, 2019. Hamad Al Mansoori for the Ministry of Presidential Affairs
  • Sheikh Nahyan Bin Zayed Al Nahyan, Chairman of the Board of Trustees of Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation and Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, attend the final day of the 2019 Formula 1 Etihad Airways Abu Dhabi Grand Prix, at Shams Tower. Ryan Carter for the Ministry of Presidential Affairs
    Sheikh Nahyan Bin Zayed Al Nahyan, Chairman of the Board of Trustees of Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation and Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, attend the final day of the 2019 Formula 1 Etihad Airways Abu Dhabi Grand Prix, at Shams Tower. Ryan Carter for the Ministry of Presidential Affairs
  • Sheikh Maktoum bin Rashid, who became Ruler of Dubai in 1958, Sheikh Hamdan Bin Rashid and Sheikh Mohammed bin Rashid, then Crown Prince of Dubai, attend Eid al Fitr prayers.
    Sheikh Maktoum bin Rashid, who became Ruler of Dubai in 1958, Sheikh Hamdan Bin Rashid and Sheikh Mohammed bin Rashid, then Crown Prince of Dubai, attend Eid al Fitr prayers.
  • Saudi Finance Minister Ibrahim Al Assaf is greeted by Sheikh Hamdan bin Rashid after arriving in Abu Dhabi to attend a GCC finance ministers' meeting on May 7, 2011. AFP
    Saudi Finance Minister Ibrahim Al Assaf is greeted by Sheikh Hamdan bin Rashid after arriving in Abu Dhabi to attend a GCC finance ministers' meeting on May 7, 2011. AFP
  • Sheikh Hamdan bin Rashid opens the 27th edition of Gitex in Dubai on September 8, 2007. Bloomberg
    Sheikh Hamdan bin Rashid opens the 27th edition of Gitex in Dubai on September 8, 2007. Bloomberg
  • Sheikh Hamdan bin Rashid speaks to his Saudi counterpart Ibrahim Al Assaf ahead of a GCC finance ministers' meeting in Abu Dhabi on September 7, 2011. Reuters
    Sheikh Hamdan bin Rashid speaks to his Saudi counterpart Ibrahim Al Assaf ahead of a GCC finance ministers' meeting in Abu Dhabi on September 7, 2011. Reuters

Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai, dies


  • English
  • Arabic

Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai and Minister of Finance, died on Wednesday.

His brother, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced Sheikh Hamdan's death.

A mourning period of 10 days was declared in Dubai.

Flags will fly at half-staff in Dubai and work will be suspended in government departments and institutions for three days, starting on Thursday.

Other attractions such as Expo 2020's sustainability pavilion will close and dates for reopening will be announced soon. 
Sheikh Mohammed bin Rashid led funeral prayers at Zabeel Mosque on Wednesday.

He was joined by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, and other sheikhs.

  • Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, at the funeral prayers.
    Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, at the funeral prayers.
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, performs funeral prayers for the late Sheikh Hamdan bin Rashid at Zabeel Mosque. All photos Courtesy Dubai Media Office
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, performs funeral prayers for the late Sheikh Hamdan bin Rashid at Zabeel Mosque. All photos Courtesy Dubai Media Office
  • Sheikh Hamdan bin Mohammed and Sheikh Maktoum bin Mohammed carry the body of the late Sheikh Hamdan bin Rashid to his final resting place in Umm Hurair cemetery in Dubai. Dubai Media Office
    Sheikh Hamdan bin Mohammed and Sheikh Maktoum bin Mohammed carry the body of the late Sheikh Hamdan bin Rashid to his final resting place in Umm Hurair cemetery in Dubai. Dubai Media Office
  • Sheikh Hamdan bin Mohammed and Sheikh Maktoum bin Mohammed carry the body of the late Sheikh Hamdan bin Rashid to his final resting place in Umm Hurair cemetery in Dubai. Dubai Media Office
    Sheikh Hamdan bin Mohammed and Sheikh Maktoum bin Mohammed carry the body of the late Sheikh Hamdan bin Rashid to his final resting place in Umm Hurair cemetery in Dubai. Dubai Media Office
  • Sheikh Mohammed bin Rashid was joined by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Sheikh Maktoum bin Mohammed, Deputy Ruler.
    Sheikh Mohammed bin Rashid was joined by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Sheikh Maktoum bin Mohammed, Deputy Ruler.
  • Sheikh Hamdan bin Rashid spent his life in service of Dubai and the country.
    Sheikh Hamdan bin Rashid spent his life in service of Dubai and the country.
  • Sheikh Hamdan and Sheikh Maktoum carry the body of the late Sheikh Hamdan bin Rashid to his final resting place in Umm Hurair cemetery in Dubai.
    Sheikh Hamdan and Sheikh Maktoum carry the body of the late Sheikh Hamdan bin Rashid to his final resting place in Umm Hurair cemetery in Dubai.
  • Sheikh Hamdan and Sheikh Maktoum at the final resting place of Sheikh Hamdan bin Rashid in Umm Hurair cemetery in Dubai.
    Sheikh Hamdan and Sheikh Maktoum at the final resting place of Sheikh Hamdan bin Rashid in Umm Hurair cemetery in Dubai.

They were restricted to family members because of Covid-19 restrictions.

Sheikh Hamdan, who was in his seventies, had been unwell for some months – Sheikh Mohammed tweeted prayers and well-wishes for his brother as recently as March 9.

On Wednesday, Sheikh Mohammed posted a picture of his brother saying: "We belong to God and to Him we shall return ... May God have mercy on you, my brother, my support and my companion."

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, paid tributes to Sheikh Hamdan.

"Today, we lost one of the loyal men of the Emirates after a life full of giving and sincere patriotism," Sheikh Mohamed tweeted.

“May God have mercy on my brother Sheikh Hamdan bin Rashid, and reward him with the best reward for what he offered to his country and its people.

“I express my condolences to my brother Mohammed bin Rashid and the honourable Maktoum family for this great misfortune. [I wish them] patience and solace.”

Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, mourned the death of Sheikh Hamdan.

The Ruler of Ras Al Khaimah, Sheikh Saud bin Saqr Al Qasimi, said the UAE has lost today one of its loyal and devoted leaders.

“God have mercy on Sheikh Hamdan bin Rashid Al Maktoum. With his wisdom and insightful vision, he helped build our institutions of government since the founding days of this nation.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, shared a picture of him with Sheikh Hamdan bin Rashid on Instagram.
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, shared a picture of him with Sheikh Hamdan bin Rashid on Instagram.

“He helped lead a march of national achievements and humanitarian work that will go down in the history of the nation and the conscience of the Emirati people.

“Our condolences to His Highness Sheikh Mohammed bin Rashid Al Maktoum, to the honourable Al Maktoum family and to the people of the Emirates for this great loss to the homeland.”

Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman, and Sheikh Saud bin Rashid Al Mualla, Ruler of Umm Al Quwain, expressed their heartfelt condolences on the death.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, paid tribute to his uncle.

“To Allah we belong and to Him we shall return,” he said.

“Today, the country bid farewell to one of its symbols and a knight who stepped down after a journey of giving.

“His journey will remain immortal and from it we will draw inspiring moral lessons in upholding the status of the homeland and in spreading the roots of goodness.

“We ask God Almighty to have mercy on Sheikh Hamdan bin Rashid Al Maktoum and make heaven his resting place.”


In October, Sheikh Hamdan was wished well by officials and colleagues after surgery abroad.

They welcomed him on his return to the Emirates after the operation.

Details of the surgery or the location were not stated.

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Thor%3A%20Love%20and%20Thunder%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Taika%20Waititi%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Chris%20Hemsworth%2C%20Natalie%20Portman%2C%20Christian%20Bale%2C%20Russell%20Crowe%2C%20Tessa%20Thompson%2C%20Taika%20Waititi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

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Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

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%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20M3%2C%208-core%20CPU%2C%20up%20to%2010-core%20CPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2013.6-inch%20Liquid%20Retina%2C%202560%20x%201664%2C%20224ppi%2C%20500%20nits%2C%20True%20Tone%2C%20wide%20colour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F16%2F24GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201%2F2TB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20Thunderbolt%203%2FUSB-4%20(2)%2C%203.5mm%20audio%2C%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206E%2C%20Bluetooth%205.3%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%2052.6Wh%20lithium-polymer%2C%20up%20to%2018%20hours%2C%20MagSafe%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%201080p%20FaceTime%20HD%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20Support%20for%20Apple%20ProRes%2C%20HDR%20with%20Dolby%20Vision%2C%20HDR10%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%204-speaker%20system%2C%20wide%20stereo%2C%20support%20for%20Dolby%20Atmos%2C%20Spatial%20Audio%20and%20dynamic%20head%20tracking%20(with%20AirPods)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Midnight%2C%20silver%2C%20space%20grey%2C%20starlight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20MacBook%20Air%2C%2030W%2F35W%20dual-port%2F70w%20power%20adapter%2C%20USB-C-to-MagSafe%20cable%2C%202%20Apple%20stickers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh4%2C599%3C%2Fp%3E%0A
SPECS
%3Cp%3E%0D%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%204.0-litre%20twin-turbo%20V8%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20750hp%20at%207%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20800Nm%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%207%20Speed%20dual-clutch%20auto%0D%0D%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20332kph%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%2012.2L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EYear%20end%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh1%2C430%2C000%20(coupe)%3B%20From%20Dh1%2C566%2C000%20(Spider)%3C%2Fp%3E%0A

Engine: 3.5-litre V6

Transmission: eight-speed automatic

Power: 290hp

Torque: 340Nm

Price: Dh155,800

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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 

Top Hundred overseas picks

London Spirit: Kieron Pollard, Riley Meredith 

Welsh Fire: Adam Zampa, David Miller, Naseem Shah 

Manchester Originals: Andre Russell, Wanindu Hasaranga, Sean Abbott

Northern Superchargers: Dwayne Bravo, Wahab Riaz

Oval Invincibles: Sunil Narine, Rilee Rossouw

Trent Rockets: Colin Munro

Birmingham Phoenix: Matthew Wade, Kane Richardson

Southern Brave: Quinton de Kock

While you're here
Men from Barca's class of 99

Crystal Palace - Frank de Boer

Everton - Ronald Koeman

Manchester City - Pep Guardiola

Manchester United - Jose Mourinho

Southampton - Mauricio Pellegrino

Closing the loophole on sugary drinks

As The National reported last year, non-fizzy sugared drinks were not covered when the original tax was introduced in 2017. Sports drinks sold in supermarkets were found to contain, on average, 20 grams of sugar per 500ml bottle.

The non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.

Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.

Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category
 

Not taxed:

Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.

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.”

Fanney Khan

Producer: T-Series, Anil Kapoor Productions, ROMP, Prerna Arora

Director: Atul Manjrekar

Cast: Anil Kapoor, Aishwarya Rai, Rajkummar Rao, Pihu Sand

Rating: 2/5 

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

EGYPT SQUAD

Goalkeepers: Ahmed El Shennawy, Mohamed El Shennawy, Mohamed Abou-Gabal, Mahmoud Abdel Rehem "Genesh"
Defenders: Ahmed Elmohamady, Ahmed Hegazi, Omar Gaber, Ali Gazal, Ayman Ahsraf, Mahmoud Hamdy, Baher Elmohamady, Ahmed Ayman Mansour, Mahmoud Alaa, Ahmed Abou-Elfotouh
Midfielders: Walid Soliman, Abdallah El Said, Mohamed Elneny, Tarek Hamed, Mahmoud “Trezeguet” Hassan, Amr Warda, Nabil Emad
Forwards: Ahmed Ali, Mohamed Salah, Marwan Mohsen, Ahmed "Kouka" Hassan.

Day 3, Dubai Test: At a glance

Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.

Stat of the day – 73 Haris Sohail took 73 balls to hit a boundary. Which is a peculiar quirk, given the aggressive intent he showed from the off. Pakistan’s batsmen were implored to attack Rangana Herath after their implosion against his left-arm spin in Abu Dhabi. Haris did his best to oblige, smacking the second ball he faced for a huge straight six.

The verdict One year ago, when Pakistan played their first day-night Test at this ground, they held a 222-run lead over West Indies on first innings. The away side still pushed their hosts relatively close on the final night. With the opposite almost exactly the case this time around, Pakistan still have to hope they can salvage a win from somewhere.

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

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At a glance - Zayed Sustainability Prize 2020

Launched: 2008

Categories: Health, energy, water, food, global high schools

Prize: Dh2.2 million (Dh360,000 for global high schools category)

Winners’ announcement: Monday, January 13

 

Impact in numbers

335 million people positively impacted by projects

430,000 jobs created

10 million people given access to clean and affordable drinking water

50 million homes powered by renewable energy

6.5 billion litres of water saved

26 million school children given solar lighting