Palestinian volunteers distribute Ramadan meals at the West Bank refugee camp of Amari in Ramallah in 2022. AP
Palestinian volunteers distribute Ramadan meals at the West Bank refugee camp of Amari in Ramallah in 2022. AP
Palestinian volunteers distribute Ramadan meals at the West Bank refugee camp of Amari in Ramallah in 2022. AP
Palestinian volunteers distribute Ramadan meals at the West Bank refugee camp of Amari in Ramallah in 2022. AP

UN launches Ramadan campaign to help world's refugees


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The UN has launched its Ramadan campaign to mobilise much-needed financial support to help the world's refugees.

Last year, more than 100 million people were forcibly displaced from their homes due to war, violence, persecution and human rights abuses, said news agency Wam, quoting the UN High Commissioner for Refugees.

There are currently 103 million forcibly displaced people around the world, according to the latest statistics from the UNHCR. More than 32 million of those are classified as refugees.

Many have been struggling to survive for years as crises remain unresolved.

The devastating earthquakes which recently hit Turkey and Syria have added to the problem.

In Turkey, the earthquake affected 15 million, including many refugees from Syria.

In Syria, 8.8 million people were affected, including families that were already displaced because of the country's long-running crisis.

The UNHCR has appealed for more than $200 million to provide aid to families in Syria and Turkey.

In Turkey, authorities estimate the total cost of the damage incurred in Turkey is estimated at $103.6 billion – equal to about 9 per cent of the country's gross domestic product.

Donors at a EU-hosted conference last week pledged €7 billion ($7.52 billion) to help the two countries recover.

The total cost of the damage incurred in Turkey is estimated at $103.6 billion – equal to about 9 per cent of the country's gross domestic product.

The United Nations has set the "recovery costs" for Syria at $14.8 billion.

Flash floods last week in the region further compounded the misery.

Aid groups had urged donors to step up their commitments after the UN complained of the poor response to a call it made in mid February for urgent funding.

In Yemen, the humanitarian crises is deteriorating day by day, with 4.5 million people internally displaced and more than two thirds of the population living under the poverty line.

The UN estimates that 21.6 million people in Yemen need humanitarian assistance and protection. Yemeni communities are overstretched, and yet they shelter some 100,000 refugees and asylum seekers from other war-torn countries.

Yet, this year UNHCR has received just 8 per cent of the US$ 320 million it requires for its work in the country.

In Bangladesh, Rohingya refugees continue to suffer. They do not get proper nutrition and are left without shelter, sanitation and livelihoods.

With the dire situation in its sixth year, sustained financial support and solutions are needed to help 978,000 Rohingyas and their Bangladeshi host communities.

“UNHCR is urgently calling for support to address the growing humanitarian needs of displaced people observing Ramadan facing increasing challenges across the world,” said Khaled Khalifa, senior adviser to the High Commissioner and the UNHCR’s representative to Gulf Co-operation Council countries.

“We are working tirelessly to ensure that those affected by war and displacement are provided with immediate and long-term relief.”

Since its inception in 2017, the UNHCR’s Refugee Zakat Fund has benefitted more than six million people in 26 countries.

In 2022, it received more than $21.3 million in zakat contributions, including $137,000 as Zakat Al Fitr, a small obligatory donation. More than $16.7 million was collected in sadaqa donations, including $398,000 as sadaqa jariyah, or voluntary contributions.

Plight of Rohingya boat refugees — in pictures

  • Rohingya women and children rest on the sand after making the sea crossing from Bangladesh to Aceh province, Indonesia. Reuters
    Rohingya women and children rest on the sand after making the sea crossing from Bangladesh to Aceh province, Indonesia. Reuters
  • A boat carrying Rohingya stranded on Lampanah beach, Aceh province. The UN says the official recorded drowning toll of 350 in 2022 was the 'tip of the iceberg', with many more feared dead. Reuters
    A boat carrying Rohingya stranded on Lampanah beach, Aceh province. The UN says the official recorded drowning toll of 350 in 2022 was the 'tip of the iceberg', with many more feared dead. Reuters
  • A child drinks after arriving by boat in Indonesia. Many Rohingya are fleeing refugee camps in Cox's Bazaar, Bangladesh, where kidnapping, rape and violence have become common. AFP
    A child drinks after arriving by boat in Indonesia. Many Rohingya are fleeing refugee camps in Cox's Bazaar, Bangladesh, where kidnapping, rape and violence have become common. AFP
  • Families sit by a fire on a beach on Idaman Island in East Aceh, Indonesia. Despite the risks of crossing the Andaman Sea, the prospect of life in Malaysia and Indonesia attracts thousands. AP
    Families sit by a fire on a beach on Idaman Island in East Aceh, Indonesia. Despite the risks of crossing the Andaman Sea, the prospect of life in Malaysia and Indonesia attracts thousands. AP
  • People smugglers charge about $5,000 for a seat on a vessel from Bangladesh to Indonesia, Thailand or Malaysia. Conditions on board are often grim. AFP
    People smugglers charge about $5,000 for a seat on a vessel from Bangladesh to Indonesia, Thailand or Malaysia. Conditions on board are often grim. AFP
  • Rohingya refugees from Myanmar wait for aid at the Kutupalong refugee camp, the largest in the world, in Bangladesh. AFP
    Rohingya refugees from Myanmar wait for aid at the Kutupalong refugee camp, the largest in the world, in Bangladesh. AFP
  • Lifejackets lie in a boat used to ferry Rohingya refugees across the water. AFP
    Lifejackets lie in a boat used to ferry Rohingya refugees across the water. AFP
  • Indonesian police assist Rohingya refugee children at a beach in Aceh province. AFP
    Indonesian police assist Rohingya refugee children at a beach in Aceh province. AFP
  • A health worker helps a Rohingya refugee after she arrived by boat on the coast of Aceh. AFP
    A health worker helps a Rohingya refugee after she arrived by boat on the coast of Aceh. AFP
GULF MEN'S LEAGUE

Pool A Dubai Hurricanes, Bahrain, Dubai Exiles, Dubai Tigers 2

Pool B Abu Dhabi Harlequins, Jebel Ali Dragons, Dubai Knights Eagles, Dubai Tigers

 

Opening fixtures

Thursday, December 5

6.40pm, Pitch 8, Abu Dhabi Harlequins v Dubai Knights Eagles

7pm, Pitch 2, Jebel Ali Dragons v Dubai Tigers

7pm, Pitch 4, Dubai Hurricanes v Dubai Exiles

7pm, Pitch 5, Bahrain v Dubai Eagles 2

 

Recent winners

2018 Dubai Hurricanes

2017 Dubai Exiles

2016 Abu Dhabi Harlequins

2015 Abu Dhabi Harlequins

2014 Abu Dhabi Harlequins

Juventus v Napoli, Sunday, 10.45pm (UAE)

Match on Bein Sports

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Reading List

Practitioners of mindful eating recommend the following books to get you started:

Savor: Mindful Eating, Mindful Life by Thich Nhat Hanh and Dr Lilian Cheung

How to Eat by Thich Nhat Hanh

The Mindful Diet by Dr Ruth Wolever

Mindful Eating by Dr Jan Bays

How to Raise a Mindful Eaterby Maryann Jacobsen

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.”

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

Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

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Updated: March 28, 2023, 3:14 PM