US President-elect Joe Biden has laid out his vision for what he calls a more inclusive America in a victory speech delivered in Delaware on Saturday night.
Mr Biden described the core priorities for a nation facing different crises.
“The battle to control the virus, the battle to build prosperity, the battle to secure your family’s health care, the battle to achieve racial justice and root out systemic racism in this country, the battle to save our planet by getting climate under control, the battle to restore decency, defend democracy and give everybody in this country a fair shot.”
What are the details and what might we expect in the next four years?
Climate change
Despite not embracing the radical $10 trillion Green New Deal championed by Democrat representative Alexandria Ocasio-Cortez, Mr Biden will still make the renewable energy transition a centrepiece of energy policy.
Calling the Green New Deal, “a crucial framework”, Mr Biden pledged to invest $1.7tn in renewables, hoping to increase this to $5tn in public and private investment to make the US carbon neutral by 2050.
Some of this investment will be funded by stopping corporate tax cuts put in place by President Donald Trump’s administration. Mr Trump favoured domestic oil production as a part of the US' energy security strategy.
Coronavirus and the economy
“Our work begins with getting Covid under control,” Mr Biden said.
“We cannot repair the economy, restore our vitality, or relish life’s most precious moments – hugging a grandchild, birthdays, weddings, graduations, all the moments that matter most to us – until we get this virus under control.”
That will be an uphill challenge. The virus has killed more than 235,000 Americans, wiped out 20 million jobs and threatens to destroy at least $16tn in economic value in the coming years, according to a report by former US Treasury secretary Lawrence Summers.
With US hospitals now under increasing strain and infectious disease expert Dr Anthony Fauci warning of a hard winter as a second wave grips the country, a top priority for Mr Biden will be putting in place a task force to ensure the virus is under control by the time he is inaugurated in January.
Daily cases continue to break records: on Saturday, the US confirmed 134,377 new Covid-19 cases, the highest single day figure since the pandemic began.
Mr Biden will unveil his 12-person team of specialists on Monday, but has already appointed former US surgeon general Vivek Murthy, Yale University's Dr Marcella Nunez-Smith and former Food and Drug Administration commissioner David Kessler to the team.
Racial injustice
This year the US experienced some of the most intense protests and social division in its modern history, at least since the racial tensions that gripped the country in the late 1960s or the 1992 LA riots.
This year, it was the tragic fate of George Floyd that caused a wave of national outrage, energising the Black Lives Matter protest movement and laying bare endemic racial injustice and deep social divisions.
According to Mr Biden’s campaign website, “racial equity is a distinct pillar of his Build Back Better plan, as well as incorporated in each of the other pillars”.
In terms of actual policy, one step Mr Biden will take is to allocate funds for retraining police, many of whom have been accused of displaying a “warrior cop” mentality, rather than having a community police focus.
"I've long been a firm believer in the power of community policing – getting cops out of their cruisers and building relationships with the people and the communities," Mr Biden wrote in USA Today in June.
“That's why I'm proposing an additional $300 million to reinvigorate community policing in our country,” he said.
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
The specs: 2018 Honda City
Price, base: From Dh57,000
Engine: 1.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 118hp @ 6,600rpm
Torque: 146Nm @ 4,600rpm
Fuel economy, combined: 5.8L / 100km
11 cabbie-recommended restaurants and dishes to try in Abu Dhabi
Iqbal Restaurant behind Wendy’s on Hamdan Street for the chicken karahi (Dh14)
Pathemari in Navy Gate for prawn biryani (from Dh12 to Dh35)
Abu Al Nasar near Abu Dhabi Mall, for biryani (from Dh12 to Dh20)
Bonna Annee at Navy Gate for Ethiopian food (the Bonna Annee special costs Dh42 and comes with a mix of six house stews – key wet, minchet abesh, kekel, meser be sega, tibs fir fir and shiro).
Al Habasha in Tanker Mai for Ethiopian food (tibs, a hearty stew with meat, is a popular dish; here it costs Dh36.75 for lamb and beef versions)
Himalayan Restaurant in Mussaffa for Nepalese (the momos and chowmein noodles are best-selling items, and go for between Dh14 and Dh20)
Makalu in Mussaffa for Nepalese (get the chicken curry or chicken fry for Dh11)
Al Shaheen Cafeteria near Guardian Towers for a quick morning bite, especially the egg sandwich in paratha (Dh3.50)
Pinky Food Restaurant in Tanker Mai for tilapia
Tasty Zone for Nepalese-style noodles (Dh15)
Ibrahimi for Pakistani food (a quarter chicken tikka with roti costs Dh16)
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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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
COMPANY%20PROFILE%20
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Aayan%E2%80%99s%20records
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Company%20Profile
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RESULT
Manchester United 1 Brighton and Hove Albion 0
Man United: Dunk (66' og)
Man of the Match: Shane Duffy (Brighton)
Fight Night
FIGHT NIGHT
Four title fights:
Amir Khan v Billy Dib - WBC International title
Hughie Fury v Samuel Peter - Heavyweight co-main event
Dave Penalosa v Lerato Dlamini - WBC Silver title
Prince Patel v Michell Banquiz - IBO World title
Six undercard bouts:
Michael Hennessy Jr v Abdul Julaidan Fatah
Amandeep Singh v Shakhobidin Zoirov
Zuhayr Al Qahtani v Farhad Hazratzada
Lolito Sonsona v Isack Junior
Rodrigo Caraballo v Sajid Abid
Ali Kiydin v Hemi Ahio
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
