Fourteen-year-old Sapna Chavan, who lives in an overcrowded slum in Mumbai, has not been to class since March, when schools shut across the country due to the coronavirus pandemic.
Instead, she sits on the floor of her tiny one-room home using a cheap smartphone provided by a local NGO to attend online classes organised by her government-run school. Her two younger sisters and brother work alongside her in the cramped, dimly lit room while their mother cleans.
In some states, including Madhya Pradesh and Assam, schools have been partially reopened for older students (grades 9-12) to attend on a voluntary basis, but the majority remain closed. With Covid-19 cases rising sharply across the country, which is the third worst-affected globally with almost six million cases, it could be months before some students go back to class.
As a result, schools in several states, including Maharashtra, Tamil Nadu, and Kerala have started offering online lessons, but for many families unable to afford digital devices or internet access, the pandemic has put education on hold. Now, education experts say that some children may never go back to school, widening the gap between rich and poor and jeopardising the prospects of tens of millions of children trying to pull themselves out of poverty.
“There's always been a divide,” says Sunita Gandhi, the founder of Global Classroom Private Limited and the Global Education & Training Institute in India. “Because they can't afford it, they have to go to government schools, which are not working very well in some regions – or it's because of the lack of good quality teachers; there are so many factors that define learning outcome.”
The current situation has only exacerbated these earlier challenges, Dr Gandhi says, as weaker schools and teachers find it more difficult to adapt to running virtual classes. And there is often less support for children from poorer families at home – parents often have less time to help with homework amid the pressure of finding enough work to make ends meet, she explains.
“We see a lot of pitfalls and the divide getting bigger, the longer it takes for the children to get back into schools,” says Ms Gandhi.
There were 364 million people living in poverty in India in 2015 to 2016, approximately 28 per cent of the population, according to a report by the United Nations Development Programme.
Ms Chavan, who has crucial exams coming up next year, says it is hard to learn much these days. Her home does not have Wi-Fi because the family cannot afford it. Her father, a labourer who would normally earn a few dollars a day, has been out of work since March, when India's nationwide lockdown came into effect as the country tried to limit the spread of Covid-19.
“Sometimes the data connection is bad, and I can't hear what the teacher is saying,” she says. “I don't like it at all. I miss going to school with my friends.”
Sapna enjoys school and is eager to do well in her exams next year so she can eventually secure a good job as a lawyer , but now she's worried about falling behind.
At the other end of town in a more affluent neighbourhood is 12-year-old Prisha Shah. Her online classes started in June, when the state of Maharashtra, of which Mumbai is the capital, instructed schools to begin virtual lessons.
In her comfortable home, she uses a laptop to attend online classes that are being conducted by her private school for about five hours each week day. Her parents are pleased that her education has resumed in a structured way after a three-month gap.
“I've seen that the teachers are making a lot of effort,” says her mother Hemali Shah, who is herself a teacher. “Still, I feel actual classes are better because of the personal touch.”
Ms Shah misses her friends and playing sports at school, but notes that virtual school has its advantages. “You can sit comfortably on your bed during virtual school,” she says.
Only a small minority can relate to her experience of education during lockdown in India. In rural areas, the challenges surrounding education are even more complicated because of limited access to the internet and patchy connectivity.
A few schools have found creative ways around this, with some broadcasting their classes over loudspeakers, while outdoor group classes have also been organised in some villages so that pupils can keep a safe distance while they learn.
Some state governments have organised lessons that are broadcast on dedicated channels on television.
“Every single educational institute in India is closed,” says Dhruv Sengar, the chief strategy officer at Lokarpan, a not-for-profit organisation in India. “Virtual classrooms is a reality that exists in the cities. It's not something that is easily accessible to villagers.”
Lokarpan is working with some rural schools in Uttar Pradesh in north India, providing laptops to children, and organising classes with top teachers across the country and abroad, in an effort to help them continue their studies.
But the quality of education is generally weaker in rural India to begin with, Mr Sengar explains, and the pandemic poses further challenges.
A recent survey by India's National Statistics Office reveals that only 15 per cent of kids in rural areas have access to the internet, compared to 42 per cent in urban areas.
Rustom Kerawalla, the chairman of Ampersand Group, a solutions provider for educational institutes, says that the impact of the pandemic has been “very disruptive” in India.
“The entire education system has suddenly had to move into the online space, and definitely we were not ready for it,” he says.
It is challenging in the short term, but in the long term, virtual learning could benefit poorer children too, he says.
“The silver lining is this will be a welcome change that was long overdue. The current pandemic has been a catalyst.”
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
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.”
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
THE BIO
Favourite place to go to in the UAE: The desert sand dunes, just after some rain
Who inspires you: Anybody with new and smart ideas, challenging questions, an open mind and a positive attitude
Where would you like to retire: Most probably in my home country, Hungary, but with frequent returns to the UAE
Favorite book: A book by Transilvanian author, Albert Wass, entitled ‘Sword and Reap’ (Kard es Kasza) - not really known internationally
Favourite subjects in school: Mathematics and science
Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
The biog
Profession: Senior sports presenter and producer
Marital status: Single
Favourite book: Al Nabi by Jibran Khalil Jibran
Favourite food: Italian and Lebanese food
Favourite football player: Cristiano Ronaldo
Languages: Arabic, French, English, Portuguese and some Spanish
Website: www.liliane-tannoury.com
Points Classification after Stage 1
1. Geraint Thomas (Britain / Team Sky) 20
2. Stefan Kueng (Switzerland / BMC Racing) 17
3. Vasil Kiryienka (Belarus / Team Sky) 15
4. Tony Martin (Germany / Katusha) 13
5. Matteo Trentin (Italy / Quick-Step) 11
6. Chris Froome (Britain / Team Sky) 10
7. Jos van Emden (Netherlands / LottoNL) 9
8. Michal Kwiatkowski (Poland / Team Sky) 8
9. Marcel Kittel (Germany / Quick-Step) 7
10. Edvald Boasson Hagen (Norway / Dimension Data) 6
The biog
Age: 32
Qualifications: Diploma in engineering from TSI Technical Institute, bachelor’s degree in accounting from Dubai’s Al Ghurair University, master’s degree in human resources from Abu Dhabi University, currently third years PHD in strategy of human resources.
Favourite mountain range: The Himalayas
Favourite experience: Two months trekking in Alaska