A haj pilgrim heeds advice from the Saudi health ministry and wears a surgical mask at the Grand Mosque in Mecca. Fayez Nureldine / AFP Photo
A haj pilgrim heeds advice from the Saudi health ministry and wears a surgical mask at the Grand Mosque in Mecca. Fayez Nureldine / AFP Photo
A haj pilgrim heeds advice from the Saudi health ministry and wears a surgical mask at the Grand Mosque in Mecca. Fayez Nureldine / AFP Photo
A haj pilgrim heeds advice from the Saudi health ministry and wears a surgical mask at the Grand Mosque in Mecca. Fayez Nureldine / AFP Photo

World

No fresh cases of killer Mers virus ahead of Haj: Saudi health minister

Saudi authorities have not yet recorded any cases of the deadly Mers virus ahead of Haj, with the kingdom hosting some three million Muslim pilgrims.

Agence France Presse

October 10, 2013

  • English
  • Arabic

MECCA // Saudi authorities have not yet recorded any cases of the deadly Mers virus ahead of Haj, with the kingdom hosting some three million Muslim pilgrims.

“So far, no case for any epidemic has been recorded among the pilgrims, especially the coronavirus,” Saudi media quoted Health Minister Abdullah Al Rabia as saying.

The Mers virus has already claimed 58 lives worldwide, with the greatest number of deaths from the respiratory disease — 49 — in Saudi Arabia itself.

“The ministry has put in place very strict measures this year,” the Al Riyadh daily cited the health minister as saying.

“Employees have been given strict orders to isolate any suspected case and carry out the necessary laboratory tests” to ensure the safety of pilgrims on the Haj.

Mr Al Rabia said up to 600 public health employees wearing face masks were deployed at the Jeddah international airport to screen arriving pilgrims and ensure they had the necessary vaccinations.

The World Health Organisation said on Friday that the number of Mers infections worldwide has risen to 136, after Saudi Arabia confirmed six new cases.

The fact that the kingdom accounts for the overwhelming majority of cases has raised concerns about Haj.

The Haj is one of the largest gatherings in the world, and there are fears that pilgrims could be infected and return to their homelands carrying the virus.

However, the authorities have said they are optimistic that it will pass off without any outbreak, given that Muslims also go on lower-level pilgrimages at other times and there has been no mass spread of the virus.

Riyadh has urged the elderly and chronically ill to avoid performing Haj this year. Authorities have also advised pilgrims to wear face masks.

Experts are struggling to understand the Mers coronavirus, for which there is still no vaccine.

It is considered a deadlier but less-transmissible cousin of the Sars virus that erupted in Asia in 2003 and infected 8,273 people, nine per cent of whom died, and sowed economic chaos.

Like Sars, Mers is believed to have jumped from animals to humans. It shares the former’s flu-like symptoms, but differs by also causing kidney failure.

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

While you're here

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.”

'Ghostbusters: From Beyond'

Director: Jason Reitman

Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace

Rating: 2/5

While you're here
2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

Eid Al Adha 2025Saudi Arabia