Annegret Kramp-Karrenbauer was widely regarded as Angela Merkel's favourite to succeed her as German Christian Democrats leader (Getty)
Annegret Kramp-Karrenbauer was widely regarded as Angela Merkel's favourite to succeed her as German Christian Democrats leader (Getty)
Annegret Kramp-Karrenbauer was widely regarded as Angela Merkel's favourite to succeed her as German Christian Democrats leader (Getty)
Annegret Kramp-Karrenbauer was widely regarded as Angela Merkel's favourite to succeed her as German Christian Democrats leader (Getty)

Merkel relief as Annegret Kramp-Karrenbauer elected party leader


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Angela Merkel has passed the baton of leadership of Germany’s ruling Christian Democrat Union (CDU) to Annegret Kramp-Karrenbauer, a close political ally, after an impassioned contest for the soul of the party.

A former provincial minister, Mrs Kramp-Karrenbauer, 56, is a Merkel protege but in making her pitch for the job, she mocked suggestions she represented a “mini-Merkel”. Instead she promised a renewal of the CDU’s face to the voters.  "The answer isn’t in the stars, the answer lies with us. If we have the courage, we will take brakes off people who want to do something in this country,” Mrs Kramp-Karrenbauer said.

“I’ve heard many people describe me as a mini version, or as just a continuation. But I stand here as my own person, as a mother of three, as a former interior minister, state leader, who has served this land for 18 years and who has learned what it means to lead,” she told the delegates who elected her on the second ballot by 517 votes to 482.

The result paves the way for a transition of leadership from Mrs Merkel, who has led Germany since 2005. Mrs Merkel has said she does not intend to step down until the next general election looms in 2021.

The outgoing leader anchored the CDU to the centre of the German political landscape. Among her policy achievements were generous family leave entitlements, a nuclear power shutdown and an end to military conscription. Such strategies helped win over regions like Saarland, where the left dominated until Mrs Kramp-Karrenbauer became its premier.

Mrs Merkel’s legacy is dominated by her decision to open Germany’s borders to refugees fleeing the rise of ISIS in Syria and Iraq in 2015. Widely admired for the humanitarian instincts that drove the decision, Mrs Merkel also saw her grip power weakened by a backlash against the decision. In a vote at the conference, CDU members overwhelmingly backed Germany’s participation in the UN Migration Convention to be signed next week.

Mrs Kramp-Karrenbauer, also know as AKK, was viewed as a middle-of-the-road figure but her main rival, Frederich Merz, an investment lawyer, promised a clean break. “It was clear that Mr Merz was the candidate to cross the Rubicon and make a new start,” said one delegate, Uwe Beye, who stood at the portals of the convention centre in rain-bound Hamburg where the CDU met. “The AKK leadership ticket does not make us excited but we have hope that she can reach out to more voters from other parts of politics.”

Party heavyweights also stressed the need for unity after a divisive leadership battle that examined how the party can recover from a general election last year that forced it into a grand coalition with the centre-left. "It is clear after this election decision that the CDU is strong only if all party members and all party wings pull together,” said Ralph Brinkhaus, a leading MP.

The vision of the party set out by the departing Mrs Merkel was one of a centrist movement that appeals across the political spectrum. Delegates held up signs declaring "Thank you, Chief" as she rose to speak and gave her a long standing ovation.

“For over 18 years I was allowed to be chairwoman of this great, proud, united people’s party. It was a great pleasure for me. It was an honour for me,” she said. The key challenge for the party was in slogan chosen for the conference: “Bring together and lead together.”

"Whether it's the rejection of multilateralism, the return to nationalism, the reduction of international co-operation to deal-making or threatened trade wars, hybrid warfare, destablisation of societies with fake news or the future of our EU – we Christian Democrats must show what we've got," she said.

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On the streets of Hamburg ordinary Germans were cautious but welcoming of a managed transition. “It is necessary for our times to have stability and the prospect of change,” said Christopher Schifler, who said he was a CDU loyalist.

On the floor of the conference, close observers detected a different tone to the exchanges between delegates as the search for new policies gets underway.

“It was not the case that Angela Merkel was an autocrat for 18 years,” said political commentator Wenge Bornsen. “But she took courageous positions that the base did not like and even risked disputes. It moved the CDU to the left and into the political centre, taking over social-democratic positions.

“It all went well as long as Merkel secured power for the CDU. In these times that's not enough. The CDU has no answers to urgent social issues or no strategy against populists. The voters are leaving.”

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Pakistan Super League

Previous winners

2016 Islamabad United

2017 Peshawar Zalmi

2018 Islamabad United

2019 Quetta Gladiators

 

Most runs Kamran Akmal – 1,286

Most wickets Wahab Riaz –65

UK’s AI plan
  • AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
  • £10bn AI growth zone in South Wales to create 5,000 jobs
  • £100m of government support for startups building AI hardware products
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Ruwais timeline

1971 Abu Dhabi National Oil Company established

1980 Ruwais Housing Complex built, located 10 kilometres away from industrial plants

1982 120,000 bpd capacity Ruwais refinery complex officially inaugurated by the founder of the UAE Sheikh Zayed

1984 Second phase of Ruwais Housing Complex built. Today the 7,000-unit complex houses some 24,000 people.  

1985 The refinery is expanded with the commissioning of a 27,000 b/d hydro cracker complex

2009 Plans announced to build $1.2 billion fertilizer plant in Ruwais, producing urea

2010 Adnoc awards $10bn contracts for expansion of Ruwais refinery, to double capacity from 415,000 bpd

2014 Ruwais 261-outlet shopping mall opens

2014 Production starts at newly expanded Ruwais refinery, providing jet fuel and diesel and allowing the UAE to be self-sufficient for petrol supplies

2014 Etihad Rail begins transportation of sulphur from Shah and Habshan to Ruwais for export

2017 Aldar Academies to operate Adnoc’s schools including in Ruwais from September. Eight schools operate in total within the housing complex.

2018 Adnoc announces plans to invest $3.1 billion on upgrading its Ruwais refinery 

2018 NMC Healthcare selected to manage operations of Ruwais Hospital

2018 Adnoc announces new downstream strategy at event in Abu Dhabi on May 13

Source: The National

 

 

AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street

The seven points are:

Shakhbout bin Sultan Street

Dhafeer Street

Hadbat Al Ghubainah Street (outbound)

Salama bint Butti Street

Al Dhafra Street

Rabdan Street

Umm Yifina Street exit (inbound)

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Torbal Rayeh Wa Jayeh
Starring: Ali El Ghoureir, Khalil El Roumeithy, Mostafa Abo Seria
Stars: 3

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
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Favourite piece of music: Verdi’s Requiem. It’s awe-inspiring.

Biggest inspiration: My father, as I grew up in a house where music was constantly played on a wind-up gramophone. I had amazing music teachers in primary and secondary school who inspired me to take my music further. They encouraged me to take up music as a profession and I follow in their footsteps, encouraging others to do the same.

Favourite book: Ian McEwan’s Atonement – the ending alone knocked me for six.

Favourite holiday destination: Italy - music and opera is so much part of the life there. I love it.

The bio

Who inspires you?

I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist

How do you relax?

Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.

What is favourite book?

The Perks of Being a Wallflower - I think I've read it more than 7 times

What is your favourite Arabic film?

Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki

What is favourite English film?

Mamma Mia

Best piece of advice to someone looking for a career at Google?

If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.  

 

Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
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Price, base / as tested: Dh269,000 / Dh369,000

Engine: 3.0-litre twin-turbocharged V6

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Transmission: 9-speed auto

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UAE currency: the story behind the money in your pockets
Race 3

Produced: Salman Khan Films and Tips Films
Director: Remo D’Souza
Cast: Salman Khan, Anil Kapoor, Jacqueline Fernandez, Bobby Deol, Daisy Shah, Saqib Salem
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Overview

Cricket World Cup League Two: Nepal, Oman, United States tri-series, Tribhuvan University, Kathmandu

Fixtures
Wednesday February 5, Oman v Nepal
Thursday, February 6, Oman v United States
Saturday, February 8, United States v Nepal
Sunday, February 9, Oman v Nepal
Tuesday, February 11, Oman v United States
Wednesday, February 12, United States v Nepal

Results

5pm: Wadi Nagab – Maiden (PA) Dh80,000 (Turf) 1,200m; Winner: Al Falaq, Antonio Fresu (jockey), Ahmed Al Shemaili (trainer)

5.30pm: Wadi Sidr – Handicap (PA) Dh80,000 (T) 1,200m; Winner: AF Majalis, Tadhg O’Shea, Ernst Oertel

6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Fakhama, Fernando Jara, Mohamed Daggash

6.30pm: Wadi Shees – Handicap (PA) Dh80,000 (T) 2,200m; Winner: Mutaqadim, Antonio Fresu, Ibrahim Al Hadhrami

7pm: Arabian Triple Crown Round-1 – Listed (PA) Dh230,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami

7.30pm: Wadi Tayyibah – Maiden (TB) Dh80,000 (T) 1,600m; Winner: Poster Paint, Patrick Cosgrave, Bhupat Seemar

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Founder: Areej Selmi
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Abandon
Sangeeta Bandyopadhyay
Translated by Arunava Sinha
Tilted Axis Press 

What is tokenisation?

Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets. 

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

AUSTRALIA SQUAD

Steve Smith (capt), David Warner, Cameron Bancroft, Jackson Bird, Pat Cummins, Peter Handscomb, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Shaun Marsh, Tim Paine, Chadd Sayers, Mitchell Starc.

Biography

Favourite drink: Must have karak chai and Chinese tea every day

Favourite non-Chinese food: Arabic sweets and Indian puri, small round bread of wheat flour

Favourite Chinese dish: Spicy boiled fish or anything cooked by her mother because of its flavour

Best vacation: Returning home to China

Music interests: Enjoys playing the zheng, a string musical instrument

Enjoys reading: Chinese novels, romantic comedies, reading up on business trends, government policy changes

Favourite book: Chairman Mao Zedong’s poems

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THE SPECS

Engine: 3.6-litre V6

Transmission: eight-speed automatic

Power: 285bhp

Torque: 353Nm

Price: TBA

On sale: Q2, 2020

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