Video: Elections in Europe affect markets



Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

A meeting of young minds

The 3,494 entries for the 2019 Sharjah Children Biennial come from:

435 – UAE

2,000 – China

808 – United Kingdom

165 – Argentina

38 – Lebanon

16 – Saudi Arabia

16 – Bangladesh

6 – Ireland

3 – Egypt

3 – France

2 – Sudan

1 – Kuwait

1 – Australia
 

THE SPECS

Engine: 2.4-litre four-cylinder
Power: 210hp
Torque: 320Nm
Price: Starting from Dh89,900
On sale: Now

Tax authority targets shisha levy evasion

The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.

Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".

The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.

He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.

"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.

As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.

The BaaS ecosystem

The BaaS value chain consists of four key players:

Consumers: End-users of the financial product delivered

Distributors: Also known as embedders, these are the firms that embed baking services directly into their existing customer journeys

Enablers: Usually Big Tech or FinTech companies that help embed financial services into third-party platforms

Providers: Financial institutions holding a banking licence and offering regulated products

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends

2.0

Director: S Shankar

Producer: Lyca Productions; presented by Dharma Films

Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey

Rating: 3.5/5 stars

Army of the Dead

Director: Zack Snyder

Stars: Dave Bautista, Ella Purnell, Omari Hardwick, Ana de la Reguera

Three stars

The Specs

Engine: 1.6-litre 4-cylinder petrol
Power: 118hp
Torque: 149Nm
Transmission: Six-speed automatic
Price: From Dh61,500
On sale: Now

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative