• From left: Mike McGrath, departing general manager of The Club Abu Dhabi, Ali Kaddas, chairman, and K Thomas, who was financial controller at The Club for the past 35 years and also retired this year. Victor Besa / The National
    From left: Mike McGrath, departing general manager of The Club Abu Dhabi, Ali Kaddas, chairman, and K Thomas, who was financial controller at The Club for the past 35 years and also retired this year. Victor Besa / The National
  • It all started 60 years ago at Henderson's Folly, The Club's first home. Photo: The Club
    It all started 60 years ago at Henderson's Folly, The Club's first home. Photo: The Club
  • Abu Dhabi in 1963. The Folly would have been located at top centre of this photo on the main island's east. Photo: David Riley
    Abu Dhabi in 1963. The Folly would have been located at top centre of this photo on the main island's east. Photo: David Riley
  • Members enjoy some sailing at The Club in 1963. Photo: The Club
    Members enjoy some sailing at The Club in 1963. Photo: The Club
  • The Club in 1968. Photo: The Club
    The Club in 1968. Photo: The Club
  • The main beach at The Club in the mid-1970s. Note the cable drums being used for tables. Photo: The Club
    The main beach at The Club in the mid-1970s. Note the cable drums being used for tables. Photo: The Club
  • Cars at The Club in the 1970s. Membership was now expanding. Photo: The Club
    Cars at The Club in the 1970s. Membership was now expanding. Photo: The Club
  • The beach view between 1971 and 1973. Photo: The Club
    The beach view between 1971 and 1973. Photo: The Club
  • The Club in the mid-1970s. Photo: The Club
    The Club in the mid-1970s. Photo: The Club
  • By the 1980s, The Club was growing. Photo: The Club
    By the 1980s, The Club was growing. Photo: The Club
  • The Club has always been popular with families. Photo: The Club
    The Club has always been popular with families. Photo: The Club
  • Mike McGrath, the general manager of The Club Abu Dhabi, in 2008. Stephen Lock / The National
    Mike McGrath, the general manager of The Club Abu Dhabi, in 2008. Stephen Lock / The National
  • The Club Abu Dhabi today, with Al Nadi Tower, built to mark its 50th anniversary, on the left. Victor Besa / The National
    The Club Abu Dhabi today, with Al Nadi Tower, built to mark its 50th anniversary, on the left. Victor Besa / The National
  • The swimming pool at The Club. Victor Besa / The National
    The swimming pool at The Club. Victor Besa / The National
  • Mr McGrath has retired after more than two decades of service. Photo: The Club
    Mr McGrath has retired after more than two decades of service. Photo: The Club
  • Kyle Wykes takes over from Mr McGrath as general manager. Photo: The Club
    Kyle Wykes takes over from Mr McGrath as general manager. Photo: The Club
  • The Club's Al Nadi Tower. Victor Besa / The National
    The Club's Al Nadi Tower. Victor Besa / The National
  • The Club Abu Dhabi's main beach now surrounded by the new Abu Dhabi skyline. Victor Besa / The National
    The Club Abu Dhabi's main beach now surrounded by the new Abu Dhabi skyline. Victor Besa / The National

Abu Dhabi social club reflects both old and new in UAE


John Dennehy
  • English
  • Arabic

It was close to dusk in Abu Dhabi when a swashbuckling group descended on the beach.

They arrived wearing outfits resembling Blackbeard, the famed English pirate, and assembled close to where Sheraton Abu Dhabi sits today. Although they didn't know it back then in 1962, they were making history.

Boats would come in from Doha and land on the beach. I would go there and ask for six crates of Seven-Up and then take them on myself to The Club
Ted Willis

A shamal wind kicked up a dust storm, forcing the party inside and they decided a permanent base was needed.

Unbeknown to them, the group had just held the first meeting of The Club.

Related: Long-serving manager of historic Abu Dhabi social club retires

The pirate gathering reflected its era: a world of old colonials, gentlemen oil prospectors and adventure seekers amid the twilight of the British Empire’s presence in the Gulf. It was fitting, then, that it was opened by the British political agent Hugh Boustead, who had won a Military Cross at the battle of Arras during the First World War, represented Britain in the 1920 Olympics and eventually retired to Al Ain.

“In the 1960s, The Gulf was full of colourful and interesting people,” recalls Edna Green, a founding member who attended the first pirate event. Writing in The Club at 50, published in 2012, she adds: “They all met at The Club, so as a member in those early days you were surrounded by real characters.”

Cars at The Club in the 1970s. Membership was now expanding. Photo: The Club
Cars at The Club in the 1970s. Membership was now expanding. Photo: The Club

From those humble beginnings, The Club has welcomed more than 50,000 Abu Dhabi residents from no fewer than 84 countries over its six-decade history.

The first clubhouse was Henderson’s Folly, a building located approximately 500 metres from where The Club sits today. It was named after Edward Henderson, a British oilman, who used the building as a base for his trips to Abu Dhabi.

There were no telephones or proper roads in early 1960s Abu Dhabi. For those lucky enough to have a radio, the BBC World Service crackled through from a relay station on Masirah Island in Oman. Neither was there a modern water supply, street lights or electricity. Generators were unreliable. Houses were chiefly made of coral or palm frond and mud. Fresh water was carried in on barrels and food supplies limited to rice four and the odd shriveled potato.

So, at Henderson's Folly, members had to manage as best they could. There was no restaurant, while kerosene fridges and home-cooked food were the order of the day.

“I first came in the 1960s during school holidays," Michael Daly, son of one of the The Club’s early chairmen Mike Daly, tells The National.

“Everything was basic. Cable wooden drums on the beach were tables. But it was pioneering stuff," adds Daly, who remains a member to this day.

The main beach at The Club in the mid-1970s. Note the cable drums being used for tables. Photo: The Club.
The main beach at The Club in the mid-1970s. Note the cable drums being used for tables. Photo: The Club.

By the late 1960s, a surging membership on the back of the oil boom and larger plans for a port meant a new home was needed. Sheikh Zayed, who became Ruler of Abu Dhabi in 1966, granted land and The Club moved to its current location on June 13, 1968.

Facilities were still rudimentary but there was a bar, restaurant and beach. At night, the club was lit by candles and hurricane lamps, while cassette players provided music. “Boats would come in from Doha and land on the beach,” recalls early member Ted Willis in Forty Years of The Club, which was edited by UAE cultural historian Peter Hellyer.

“I would go there and ask for six crates of Seven-Up and then take them on myself to The Club.”

By the 1970s, there was a lengthy waiting list to join the club. So much so, hopeful members had to endure being vetted at a cocktail party. The formality continued once you became a member. After 7.30pm, formal evening dress was obligatory. Ladies wore soiree outfits while gentlemen wore a tie and shirt. Membership fees were then Dh320 for a family.

Over the years, The Club has navigated recession, averted relocation and survived worrying times such as the 1990 Gulf War. “As dependents left, the military arrived, thousands of them, with naval vessels crowding Mina Zayed and planes constantly overhead,” Forty Years of The Club reveals.

“The port road after dark was a continuous convoy of trucks going back and forth, keeping residents awake with the noise. By early 1991, it seemed like a return to the 1960s in Abu Dhabi … with the city full of unattached men and many women and children still on ‘holiday’.”

After the war, the pace of change ramped up in Abu Dhabi. New beachfront hotels, restaurants and leisure facilities were opening and The Club needed to respond. A new health centre and a revamp of facilities ensured it moved with the times.

“If we didn’t raise standards in terms of service and infrastructure, our future wouldn’t be guaranteed,” The Club’s general manager Mike McGrath, who retired this week after more than two decades in the role, tells The National.

The Club has always reflected what the city goes through. “When Abu Dhabi is on a roll, the club is on a roll," says McGrath, who steered The Club through the Covid-19 pandemic when it had to close. "When there is struggle, it is reflected in our membership levels."

Despite the challenges, more than 35,000 members have experienced the club since that pirate party on the beach. Along the way, it has hosted gigs by Welsh star Tom Jones, Canadian artist Bryan Adams and been visited by former British prime minister Ted Heath and renowned British explorer Wilfred Thesiger.

The Club today, set against the backdrop of Abu Dhabi's skyline. Photo: Victor Besa / The National
The Club today, set against the backdrop of Abu Dhabi's skyline. Photo: Victor Besa / The National

Always The Club, and never The British Club, membership is still by application and volunteering remains at its heart. It retains a British ethos but now boasts a multinational membership. It has a sailing club, sports club, a pool, two beaches, a pool, a gym and multiple restaurants and is a home away from home for countless people. It is undoubtedly a place of certainty in a city of endless change.

Events to mark the 60th anniversary are also planned later in year, including a 1960s-themed welcome back party in September.

“The Club is part of the modern history of Abu Dhabi," says Daly. “It means a lot to expatriates and Emiratis. People would be lost without it.”

ETFs explained

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There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

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%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
MATCH INFO

Juventus 1 (Dybala 45')

Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')

Red card: Rodrigo Bentancur (Juventus)

AL%20BOOM
%3Cp%20style%3D%22text-align%3Ajustify%3B%22%3E%26nbsp%3B%26nbsp%3B%26nbsp%3BDirector%3AAssad%20Al%20Waslati%26nbsp%3B%3C%2Fp%3E%0A%3Cp%20style%3D%22text-align%3Ajustify%3B%22%3E%0DStarring%3A%20Omar%20Al%20Mulla%2C%20Badr%20Hakami%20and%20Rehab%20Al%20Attar%0D%3Cbr%3E%0D%3Cbr%3EStreaming%20on%3A%20ADtv%0D%3Cbr%3E%0D%3Cbr%3ERating%3A%203.5%2F5%0D%3Cbr%3E%0D%3Cbr%3E%3C%2Fp%3E%0A
Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

The%20stats%20and%20facts
%3Cp%3E1.9%20million%20women%20are%20at%20risk%20of%20developing%20cervical%20cancer%20in%20the%20UAE%3C%2Fp%3E%0A%3Cp%3E80%25%20of%20people%2C%20females%20and%20males%2C%20will%20get%20human%20papillomavirus%20(HPV)%20once%20in%20their%20lifetime%3C%2Fp%3E%0A%3Cp%3EOut%20of%20more%20than%20100%20types%20of%20HPV%2C%2014%20strains%20are%20cancer-causing%3C%2Fp%3E%0A%3Cp%3E99.9%25%20of%20cervical%20cancers%20are%20caused%20by%20the%20virus%3C%2Fp%3E%0A%3Cp%3EA%20five-year%20survival%20rate%20of%20close%20to%2096%25%20can%20be%20achieved%20with%20regular%20screenings%20for%20cervical%20cancer%20detection%3C%2Fp%3E%0A%3Cp%3EWomen%20aged%2025%20to%2029%20should%20get%20a%20Pap%20smear%20every%20three%20years%3C%2Fp%3E%0A%3Cp%3EWomen%20aged%2030%20to%2065%20should%20do%20a%20Pap%20smear%20and%20HPV%20test%20every%20five%20years%3C%2Fp%3E%0A%3Cp%3EChildren%20aged%2013%20and%20above%20should%20get%20the%20HPV%20vaccine%3C%2Fp%3E%0A

Pad Man

Dir: R Balki

Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte

Three-and-a-half stars

Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

The%20specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
Key 2013/14 UAE Motorsport dates

October 4: Round One of Rotax Max Challenge, Al Ain (karting)

October 1: 1 Round One of the inaugural UAE Desert Championship (rally)

November 1-3: Abu Dhabi Grand Prix (Formula One)

November 28-30: Dubai International Rally

January 9-11: 24Hrs of Dubai (Touring Cars / Endurance)

March 21: Round 11 of Rotax Max Challenge, Muscat, Oman (karting)

April 4-10: Abu Dhabi Desert Challenge (Endurance)

Bombshell

Director: Jay Roach

Stars: Nicole Kidman, Charlize Theron, Margot Robbie 

Four out of five stars 

Iraq negotiating over Iran sanctions impact
  • US sanctions on Iran’s energy industry and exports took effect on Monday, November 5.
  • Washington issued formal waivers to eight buyers of Iranian oil, allowing them to continue limited imports. Iraq did not receive a waiver.
  • Iraq’s government is cooperating with the US to contain Iranian influence in the country, and increased Iraqi oil production is helping to make up for Iranian crude that sanctions are blocking from markets, US officials say.
  • Iraq, the second-biggest producer in the Organization of Petroleum Exporting Countries, pumped last month at a record 4.78 million barrels a day, former Oil Minister Jabbar Al-Luaibi said on Oct. 20. Iraq exported 3.83 million barrels a day last month, according to tanker tracking and data from port agents.
  • Iraq has been working to restore production at its northern Kirkuk oil field. Kirkuk could add 200,000 barrels a day of oil to Iraq’s total output, Hook said.
  • The country stopped trucking Kirkuk oil to Iran about three weeks ago, in line with U.S. sanctions, according to four people with knowledge of the matter who asked not to be identified because they aren’t allowed to speak to media.
  • Oil exports from Iran, OPEC’s third-largest supplier, have slumped since President Donald Trump announced in May that he’d reimpose sanctions. Iran shipped about 1.76 million barrels a day in October out of 3.42 million in total production, data compiled by Bloomberg show.
  • Benchmark Brent crude fell 47 cents to $72.70 a barrel in London trading at 7:26 a.m. local time. U.S. West Texas Intermediate was 25 cents lower at $62.85 a barrel in New York. WTI held near the lowest level in seven months as concerns of a tightening market eased after the U.S. granted its waivers to buyers of Iranian crude.

Favourite book: ‘The Art of Learning’ by Josh Waitzkin

Favourite film: Marvel movies

Favourite parkour spot in Dubai: Residence towers in Jumeirah Beach Residence

Scoreline

Swansea 2

Grimes 20' (pen), Celina, 29'

Man City 3

Silva 69', Nordfeldt 78' (og), Aguero 88'

Match info

Australia 580
Pakistan 240 and 335

Result: Australia win by an innings and five runs

COMPANY PROFILE

Name: Cofe

Year started: 2018

Based: UAE

Employees: 80-100

Amount raised: $13m

Investors: KISP ventures, Cedar Mundi, Towell Holding International, Takamul Capital, Dividend Gate Capital, Nizar AlNusif Sons Holding, Arab Investment Company and Al Imtiaz Investment Group 

In numbers

Number of Chinese tourists coming to UAE in 2017 was... 1.3m

Alibaba’s new ‘Tech Town’  in Dubai is worth... $600m

China’s investment in the MIddle East in 2016 was... $29.5bn

The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn

Boost to the UAE economy of 5G connectivity will be... $269bn 

Company profile

Name: Fruitful Day

Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie

Based: Dubai, UAE

Founded: 2015

Number of employees: 30

Sector: F&B

Funding so far: Dh3 million

Future funding plans: None at present

Future markets: Saudi Arabia, potentially Kuwait and other GCC countries

Dhadak

Director: Shashank Khaitan

Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana

Stars: 3

MATCH INFO

Inter Milan 1 (Martinez 18' pen)

Juventus 2 (Dybala 4', Higuain 80')

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

QUARTER-FINAL

Wales 20-19 France

Wales: T: Wainwright, Moriarty. Cons: Biggar (2) Pens: Biggar 2

France: T: Vahaamahina, Ollivon, Vakatawa Cons: Ntamack (2)

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Our family matters legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Spain drain

CONVICTED

Lionel Messi Found guilty in 2016 of of using companies in Belize, Britain, Switzerland and Uruguay to avoid paying €4.1m in taxes on income earned from image rights. Sentenced to 21 months in jail and fined more than €2m. But prison sentence has since been replaced by another fine of €252,000.

Javier Mascherano Accepted one-year suspended sentence in January 2016 for tax fraud after found guilty of failing to pay €1.5m in taxes for 2011 and 2012. Unlike Messi he avoided trial by admitting to tax evasion.

Angel di Maria Argentina and Paris Saint-Germain star Angel di Maria was fined and given a 16-month prison sentence for tax fraud during his time at Real Madrid. But he is unlikely to go to prison as is normal in Spain for first offences for non-violent crimes carrying sentence of less than two years.

 

SUSPECTED

Cristiano Ronaldo Real Madrid's star striker, accused of evading €14.7m in taxes, appears in court on Monday. Portuguese star faces four charges of fraud through offshore companies.

Jose Mourinho Manchester United manager accused of evading €3.3m in tax in 2011 and 2012, during time in charge at Real Madrid. But Gestifute, which represents him, says he has already settled matter with Spanish tax authorities.

Samuel Eto'o In November 2016, Spanish prosecutors sought jail sentence of 10 years and fines totalling €18m for Cameroonian, accused of failing to pay €3.9m in taxes during time at Barcelona from 2004 to 2009.

Radamel Falcao Colombian striker Falcao suspected of failing to correctly declare €7.4m of income earned from image rights between 2012 and 2013 while at Atletico Madrid. He has since paid €8.2m to Spanish tax authorities, a sum that includes interest on the original amount.

Jorge Mendes Portuguese super-agent put under official investigation last month by Spanish court investigating alleged tax evasion by Falcao, a client of his. He defended himself, telling closed-door hearing he "never" advised players in tax matters.

DEADPOOL & WOLVERINE

Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin

Director: Shawn Levy

Rating: 3/5

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

'Cheb%20Khaled'
%3Cp%3E%3Cstrong%3EArtist%3A%20%3C%2Fstrong%3EKhaled%3Cbr%3E%3Cstrong%3ELabel%3A%20%3C%2Fstrong%3EBelieve%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A

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.”

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

RESULTS

Main card

Bantamweight 56.4kg: Mehdi Eljamari (MAR) beat Abrorbek Madiminbekov (UZB), Split points decision

Super heavyweight 94 kg: Adnan Mohammad (IRN) beat Mohammed Ajaraam (MAR), Split points decision

Lightweight 60kg:  Zakaria Eljamari (UAE) beat Faridoon Alik Zai (AFG), RSC round 3

Light heavyweight 81.4kg: Taha Marrouni (MAR) beat Mahmood Amin (EGY), Unanimous points decision

Light welterweight 64.5kg: Siyovush Gulmamadov (TJK) beat Nouredine Samir (UAE), Unanimous points decision

Light heavyweight 81.4kg:  Ilyass Habibali (UAE) beat Haroun Baka (ALG), KO second round

TEACHERS' PAY - WHAT YOU NEED TO KNOW

Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

The specS: 2018 Toyota Camry

Price: base / as tested: Dh91,000 / Dh114,000

Engine: 3.5-litre V6

Gearbox: Eight-speed automatic

Power: 298hp @ 6,600rpm

Torque: 356Nm @ 4,700rpm

Fuel economy, combined: 7.0L / 100km

My Cat Yugoslavia by Pajtim Statovci
Pushkin Press

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Glossary of a stock market revolution

Reddit

A discussion website

Redditor

The users of Reddit

Robinhood

A smartphone app for buying and selling shares

Short seller

Selling a stock today in the belief its price will fall in the future

Short squeeze

Traders forced to buy a stock they are shorting 

Naked short

An illegal practice  

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

Updated: July 04, 2022, 5:13 PM