Sri Lankans are desperate for a promised transfer of power after the country's president and prime minister vowed to resign amid huge protests sparked by months of economic turmoil.
At the weekend, tens of thousands of protesters stormed the official residences of President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe, with many blaming them for the mismanagement that has led to shortages of food, fuel and medicine.
The demonstrators have vowed to continue occupying the residences until both men have stepped down.
Remarkable pictures beamed across the world showed protesters jumping into the president's swimming pool, lounging on sofas and holding their own mock Cabinet meetings.
Mr Rajapaksa is to formally resign on Wednesday, with Mr Wickremesinghe also promising to quit following chaotic scenes in which his private residence was set on fire.
Sri Lankans hope their departure — and that of the rest of the current cabinet — will unify the crisis-hit nation and help to salvage its ailing tourism sector.
A country on edge
Psychology lecturer Vishmi Ranatunga, 32, said she was among the vast crowds who took part in the demonstrations on Saturday.
“I feel like we're witnessing a revolution taking place,” she told The National by phone.
It was announced that the president and prime minister will resign on the 13th, people are sceptical about whether they will stick to their word
Vishmi Ranatunga,
university lecturer
“I was there in the crowd on Lotus Road which adjoins the presidential secretariat.
“It was a surreal experience to see that many people turn up to demand the president step down.”
She also said there was an air of scepticism among her fellow Sri Lankans at the announcement that both the president and prime minister would step down from power.
Anxious wait for July 13 decision-day
“Although it was announced that the president and prime minister will resign on the 13th, people are sceptical about whether they will stick to their word,” Ms Ranatunga said.
“Most people are anxious from the lack of clarity with what's going on politically.”
A Sri Lankan living in Dubai said he hopes the protests taking place in his home country bring about permanent change.
Beverney Shane, 31, who works for an advertising agency in the emirate, said it was a proud moment to see people storm the president’s house.
"I am still sceptical he will leave power. I know he has offered his resignation but we are all waiting until July 13th to see if he actually does," he said.
“This is a dynasty that has been in charge of the country since around 2005 and God knows how much damage they have done to our economy in that time.”
He said the recent scenes — which have shocked many across the globe — would have come as little surprise to anyone who has been following events in Sri Lanka closely.
Anger boils over
“It’s something we’ve all seen coming for some time. If you look at how the country has suffered with the Easter Sunday attacks and then how it was affected by the pandemic,” he said.
“The decision to ban non-organic pesticides was the final straw for many people as it meant our exports were greatly reduced.”
The country brought the ban into place in April and Mr Shane said it has played a significant part in forcing Sri Lankans to take action against their government.
The other major factor, according to Mr Shane, was the cost of living increasing as a result of Russia’s invasion of Ukraine — which has led to fuel shortages and price increases around the world.
“There are many Sri Lankans who are skipping meals because they can’t afford to eat; that is not sustainable,” he said.
“The queues at the petrol stations are insane. It’s not uncommon for people to have to queue up for two to three days just to get fuel.
“The cost of living has practically tripled in the last two months but salaries have stayed the same.”
He said that he feels a sense of helplessness at being so far away from his fellow Sri Lankans in such a difficult time.
New hope for vital tourism sector
Karen Banister, a British woman who owns a holiday villa in Bentota, on Sri Lanka's south-west coast, said the prospect of a transition of power has instilled some hope again.
She said tourism is the only option for many businesses to earn foreign currency.
“It is the protests appearing violent that has probably put people off travelling here,” she said.
“The protesters have protested peacefully. It was the government, police and army that caused the problem.
“It has reached a peak and the president [is expected] to resign on Wednesday. Sri Lankans are united with this result and so there is hope again.”
Although May and June are out of season for Sri Lanka’s tourism sector, Ms Banister said there are hardly any new bookings for her villa for the usual busy season, which starts in October and November.
“I have bookings from repeat guests who will come as long as the situation is stabilised,” she said.
“For anyone visiting, it is safe for tourists — who are always welcome in Sri Lanka — but at the moment it is not a good idea to tour around until the fuel problem improves.
“Staying in one place with short trips would feel like being in a private villa at a very good price, but I would say for now keep away from Colombo city, not for the danger but the mayhem.
“Soon, tourists will be able to come happily for their holidays again and, in return, help Sri Lanka rise up.”
Visitors can help revive flagging fortunes
Tour operators and hoteliers in Sri Lanka said foreign tourists should not be put off travelling to the country because they could help breathe new life into its failing economy.
Some tourist companies reported a healthy outlook for tour bookings in July and August. However, they said few people are booking ahead for trips later in the year.
Sinthujan Kananathan, founder of Digital Tourism, said his company reported a drop in visitors in May, but things have since picked up.
“We had our highest number of tourist bookings since Covid-19 in April, but from May 9, when problems in the country really took off, we had many people cancel bookings,” he said.
“However, that only lasted a few weeks and from the end of May until the end of June we had many clients book drivers and tours with us.
“Because of the summer holiday season in Europe, bookings look healthy again for July and August.
“Fuel availability has gone down [owing to shortages] but the government has issued a special token system for tourist drivers in the country.”
Mr Kananathan has to register his drivers with the tourism board to access the fuel tokens.
After providing details of each tour and the expected mileage, the government then decides how much fuel can be given.
In the past two months, a typical daily tour with the company, which employs more than 100 drivers, has increased from $50 to $65 to cover the rising costs, he said.
Digital Tourism has 32 tours booked for July and 47 for August, which is similar to years gone by given that the summer is their quiet season.
“Because of the changing situation in the country we have to be flexible so we do offer a full refund if visitors cannot make it,” Mr Kananathan said.
“I have been advising clients to book flights as late as possible so they can monitor what is happening in the country before committing to anything, but we do require a 50 per cent down payment for tours in advance.”
Last week, the UK’s Foreign Office advised against all but essential travel to Sri Lanka.
The announcement resulted in some UK airlines cancelling flights. However, scheduled flights from other countries including India, Germany and Austria are operating as usual.
Sri Lankan protests - in pictures
Day 2, stumps
Pakistan 482
Australia 30/0 (13 ov)
Australia trail by 452 runs with 10 wickets remaining in the innings
The specs: Fenyr SuperSport
Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
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UAE SQUAD
Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani
Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Mohammed Al Attas
Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah
Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue
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Tottenham 1
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The Al Barzakh Festival takes place on Wednesday and Thursday at 7.30pm in the Red Theatre, NYUAD, Saadiyat Island. Tickets cost Dh105 for adults from platinumlist.net
The%20US%20Congress%20explained
%3Cp%3E-%20Congress%20is%20one%20of%20three%20branches%20of%20the%20US%20government%2C%20and%20the%20one%20that%20creates%20the%20nation's%20federal%20laws%3C%2Fp%3E%0A%3Cp%3E-%20Congress%20is%20divided%20into%20two%20chambers%3A%20The%20House%20of%20Representatives%20and%20the%20Senate%3C%2Fp%3E%0A%3Cp%3E-%C2%A0The%20House%20is%20made%20up%20of%20435%20members%20based%20on%20a%20state's%20population.%20House%20members%20are%20up%20for%20election%20every%20two%20years%3C%2Fp%3E%0A%3Cp%3E-%20A%20bill%20must%20be%20approved%20by%20both%20the%20House%20and%20Senate%20before%20it%20goes%20to%20the%20president's%20desk%20for%20signature%3C%2Fp%3E%0A%3Cp%3E-%20A%20political%20party%20needs%20218%20seats%20to%20be%20in%20control%20of%20the%20House%20of%20Representatives%3C%2Fp%3E%0A%3Cp%3E-%20The%20Senate%20is%20comprised%20of%20100%20members%2C%20with%20each%20state%20receiving%20two%20senators.%20Senate%20members%20serve%20six-year%20terms%3C%2Fp%3E%0A%3Cp%3E-%20A%20political%20party%20needs%2051%20seats%20to%20control%20the%20Senate.%20In%20the%20case%20of%20a%2050-50%20tie%2C%20the%20party%20of%20the%20president%20controls%20the%20Senate%3C%2Fp%3E%0A
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
The five pillars of Islam
Background: Chemical Weapons
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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Results
5pm: Maiden (PA) Dh80,000 (Turf) 1,200m. Winner: Majd Al Megirat, Sam Hitchcott (jockey), Ahmed Al Shehhi (trainer)
5.30pm: Handicap (PA) Dh80,000 (T) 1,600m. Winner: Dassan Da, Patrick Cosgrave, Helal Al Alawi
6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000 (T) 1,400m. Winner: Heba Al Wathba, Richard Mullen, Jean de Roualle
6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000 (T) 1,400m. Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m. Winner: Jawal Al Reef, Richard Mullen, Ahmed Al Mehairbi
Handicap (TB) Dh100,000 (T) 2,200m. Winner: Harbour Spirit, Adrie de Vries, Jaber Ramadhan.
COMPANY%20PROFILE
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The years Ramadan fell in May
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
Tour de France Stage 16:
165km run from Le Puy-en-Velay to Romans-sur-Isère
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster with a decades-long career in TV. He has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others. Karam is also the founder of Takreem.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
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Most match wins on clay
Guillermo Vilas - 659
Manuel Orantes - 501
Thomas Muster - 422
Rafael Nadal - 399 *
Jose Higueras - 378
Eddie Dibbs - 370
Ilie Nastase - 338
Carlos Moya - 337
Ivan Lendl - 329
Andres Gomez - 322
COMPANY%20PROFILE
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The biog
Name: Timothy Husband
Nationality: New Zealand
Education: Degree in zoology at The University of Sydney
Favourite book: Lemurs of Madagascar by Russell A Mittermeier
Favourite music: Billy Joel
Weekends and holidays: Talking about animals or visiting his farm in Australia
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
What is the definition of an SME?
SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The 12 breakaway clubs
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
The low down
Producers: Uniglobe Entertainment & Vision Films
Director: Namrata Singh Gujral
Cast: Rajkummar Rao, Nargis Fakhri, Bo Derek, Candy Clark
Rating: 2/5
Asian Cup 2019
Quarter-final
UAE v Australia, Friday, 8pm, Hazza bin Zayed Stadium, Al Ain
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
INFO
What: DP World Tour Championship
When: November 21-24
Where: Jumeirah Golf Estates, Dubai
Tickets: www.ticketmaster.ae.