Serbian President Aleksandar Vucic celebrates the election results. Reuters
Serbian President Aleksandar Vucic celebrates the election results. Reuters
Serbian President Aleksandar Vucic celebrates the election results. Reuters
Serbian President Aleksandar Vucic celebrates the election results. Reuters

Serbian President secures powerful election victory marred by 'irregularities'


Paul Carey
  • English
  • Arabic

A team of international observers on Monday criticised Serbian elections over a string of “irregularities” that cemented President Aleksandar Vucic and his party's continued dominance over the country.

Allegations of “vote -buying” and “ballot box stuffing” were made after the opposition accused the ruling party of voter fraud.

The concerns voiced by the monitors, which included representatives from the Organisation for Security and Co-operation in Europe, came hours after Mr Vucic said his party had secured a commanding victory during parliamentary and local elections.

“Election day was smooth but marred by isolated instances of violence, procedural irregularities and frequent allegations of organising and busing of voters to support the ruling party in local elections,” the International Election Observation Mission said in a statement.

“Further instances of serious irregularities, including vote-buying and ballot box stuffing were observed.”

Sunday's vote came weeks after Mr Vucic called for snap elections in November, the latest example of how governments under his rule rarely serve out their term – a move critics say is designed to keep the opposition off balance.

Mr Vucic and his ruling right wing Serbian Progressive Party (SNS) looked poised to tighten their grip on power after claiming to have captured 127 out of the 250 seats in parliament late on Sunday.

The SNS won an outright majority in parliament with 47 per cent of the vote, while Serbia Against Violence, a liberal challenger seeking to dent Mr Vucic’s grip on power, took 23 per cent, the Electoral Commission said after counting almost all ballots. The Socialist Party, a Vucic ally, won 6.6 per cent.

“It’s an absolute victory,” Mr Vucic told supporters in Belgrade after polls closed. He swore to unite the country and stick with Serbia’s EU path while refusing to recognise neighbouring Kosovo as independent.

Kosovo Serbs queue at a polling station in Raska, southern Serbian, near the border with Kosovo. AFP
Kosovo Serbs queue at a polling station in Raska, southern Serbian, near the border with Kosovo. AFP

However, opposition groups have cast doubts over the validity of the contest following accusations that the government allowed unregistered voters from neighbouring Bosnia to cast ballots illegally in Belgrade during the election.

The SNS also said it had secured a win in municipal elections in the capital, where the party faced their stiffest challenge from a loose coalition of opposition parties and candidates running under the Serbia Against Violence banner.

That movement was formed following back-to-back mass shootings earlier this year that spurred hundreds of thousands to take to the streets in rallies that morphed into anti-government protests over several months.

Those involved in the movement vowed to take to the streets again, calling for supporters to rally on Monday night against what the group called “electoral theft” during local elections in the capital.

President Aleksandar Vucic's ruling party has extended its rule. AFP
President Aleksandar Vucic's ruling party has extended its rule. AFP

The government has dismissed the claims, with Prime Minister Ana Brnabic saying the allegations were designed to spread chaos.

Even though Mr Vucic was not personally on the ballot during the parliamentary and local elections at the weekend, the contest was largely seen as a referendum on his government.

“My job was to do everything in my power to secure an absolute majority in the parliament,” he said as he celebrated what he said was the SNS's victory late on Sunday.

To his supporters, Mr Vucic's decade in power has brought stability and billions in investments to the once chaotic country ravaged by a string of wars and bouts of hyperinflation in the 1990s.

But his opponents have long accused the President and the SNS of overseeing a government defined by autocracy and corruption.

Hungarian Prime Minister Viktor Orban praised Mr Vucic, calling the win an “overwhelming election victory”.

Mr Vucic has been particularly deft at balancing ties between East and West, vowing to keep Serbia on a course for EU membership – while also remaining friendly with Russia and courting China and Washington.

On Monday, Moscow congratulated Mr Vucic and the SNS on their victory, with Kremlin spokesman Dmitry Peskov saying he hoped the win would lead to the “further strengthening of friendship” between the countries. He referred to Serbia as a “brotherly” country.

Serbia and Russia have historically close ties and Belgrade did not join international sanctions against Moscow for its Ukraine offensive.

A considerable part of Serbia's population is supportive of Moscow's large-scale military campaign in Ukraine, sharing Russia's dislike of the US-led Nato military alliance that backs Kyiv.

In addition, Serbia is almost entirely dependent on Russian gas.

But Belgrade has also become a hub for Russians critical of the offensive fleeing Moscow, with flights still open between the two countries, unlike from Russia to much of Europe.

But Serbia has condemned Russia's aggression at the UN and its support has caused controversy.

In November, Serbia's intelligence chief Aleksandar Vulin – who visited Russia during its offensive – resigned, claiming international pressure on Belgrade.

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

The specs

Engine: 3.5-litre V6

Power: 272hp at 6,400rpm

Torque: 331Nm from 5,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.7L/100km

On sale: now

Price: Dh149,000

 

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

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.”

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About Housecall

Date started: July 2020

Founders: Omar and Humaid Alzaabi

Based: Abu Dhabi

Sector: HealthTech

# of staff: 10

Funding to date: Self-funded

The bio

Favourite book: The Alchemist by Paulo Coelho

Favourite travel destination: Maldives and south of France

Favourite pastime: Family and friends, meditation, discovering new cuisines

Favourite Movie: Joker (2019). I didn’t like it while I was watching it but then afterwards I loved it. I loved the psychology behind it.

Favourite Author: My father for sure

Favourite Artist: Damien Hurst

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
UNSC Elections 2022-23

Seats open:

  • Two for Africa Group
  • One for Asia-Pacific Group (traditionally Arab state or Tunisia)
  • One for Latin America and Caribbean Group
  • One for Eastern Europe Group

Countries so far running: 

  • UAE
  • Albania 
  • Brazil 
Our family matters legal consultant

Name: Hassan Mohsen Elhais

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

UAE currency: the story behind the money in your pockets
India cancels school-leaving examinations

 

 

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 who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.

Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

Facebook | Our website | Instagram

 

RESULT

Bayern Munich 3 Chelsea 2
Bayern: Rafinha (6'), Muller (12', 27')
Chelsea: Alonso (45' 3), Batshuayi (85')

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

Our Time Has Come
Alyssa Ayres, Oxford University Press

Reputation

Taylor Swift

(Big Machine Records)

Cheeseburger%20ingredients
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RESULT

West Brom 2 Liverpool 2
West Brom: Livermore (79'), Rondón (88' ) 
Liverpool: Ings (4'), Salah (72') 

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

England's lowest Test innings

- 45 v Australia in Sydney, January 28, 1887

- 46 v West Indies in Port of Spain, March 25, 1994

- 51 v West Indies in Kingston, February 4, 2009

- 52 v Australia at The Oval, August 14, 1948

- 53 v Australia at Lord's, July 16, 1888

- 58 v New Zealand in Auckland, March 22, 2018

Profile

Company: Justmop.com

Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

Women & Power: A Manifesto

Mary Beard

Profile Books and London Review of Books 

How to join and use Abu Dhabi’s public libraries

• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.

• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.

• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.

• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.

• For more information visit the library network's website.

Updated: December 18, 2023, 4:20 PM