The Democratic Convention opened in Charlotte, North Carolina yesterday.
The day began with caucus meetings. The convention centre was buzzing with activity as the party's almost 5,000 delegates and committee members made their way to their respective caucus meetings. This morning there were sessions for Asian Americans, African Americans, ethnics, Hispanics, native Americans, women, youth, the disabled and military veterans and their families. These caucuses address the particular needs of these constituencies and discuss the strategies needed to organize them and get them out to vote.
I chaired the ethnic caucus meeting. This grouping represents delegates and members from 19 European and Mediterranean countries. For most of the last century, our communities were the immigrants and their descendants that formed the backbone of the Democratic Party. The party lost some ground with these groups in recent decades and is now working to recapture their support.
Democratic Party Chair Debbie Wasserman Schultz addressed the caucus to make the case directly. Strategy and goals were discussed. Party and campaign officials made statements.
Winning "ethnics" is especially important in what are known as the "battleground states" - states that are the key to success in national elections and where the outcome of the voting is not a foregone conclusion. Hence, ethnic voters will receive attention between now and November.
With the caucus meetings over, the delegates spilled out into downtown Charlotte for an unexpected treat. Nearly the entire center of the city has been shut down and the streets have become an open-air fair, which the organisers have called "CarolinaFest".
The day began with a parade featuring local high school marching bands. There were booths selling political memorabilia, ethnic food, local crafts and more. There were musicians and street performers and even impromptu "soap boxes" where speakers addressed issues of concern. Museums were open and many were free of charge. And special exhibits on American history were constructed and open to the public. There were a host of family activities, including a "kids convention" that taught lessons in "the democratic process and civic engagement". It was a marvelous sight, one that I had never seen in any city that had hosted a major party convention.
Too often national political conventions some to town, take it over for a week and shunt aside local residents. They bear the brunt of the inconvenience of heavy traffic and closed streets but have no opportunity to participate in the festivities.
This was clearly different. Visiting delegates and tens of thousands of local residents shared in "CarolinaFest". And thousands will be admitted to Charlotte's massive sports stadium, where President Obama will deliver his acceptance speech.
I have noted that national conventions aren't what they used to be. There is little tension or drama. In the case of the convention here, this is even more the case. Barack Obama will be renominated, as will his running mate, Joe Biden. There will be work, to be sure, but that will take place in side meetings and caucuses.
Taking that into account, the organisers of the Charlotte convention have taken an unconventional approach, making the event more inclusive and finding ways to make it more fun.
James Zogby is president of the Arab American Institute (www.aaiusa.org and Twiiter at @aaiusa)
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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
US PGA Championship in numbers
1 Joost Luiten produced a memorable hole in one at the par-three fourth in the first round.
2 To date, the only two players to win the PGA Championship after winning the week before are Rory McIlroy (2014 WGC-Bridgestone Invitational) and Tiger Woods (2007, WGC-Bridgestone Invitational). Hideki Matsuyama or Chris Stroud could have made it three.
3 Number of seasons without a major for McIlroy, who finished in a tie for 22nd.
4 Louis Oosthuizen has now finished second in all four of the game's major championships.
5 In the fifth hole of the final round, McIlroy holed his longest putt of the week - from 16ft 8in - for birdie.
6 For the sixth successive year, play was disrupted by bad weather with a delay of one hour and 43 minutes on Friday.
7 Seven under par (64) was the best round of the week, shot by Matsuyama and Francesco Molinari on Day 2.
8 Number of shots taken by Jason Day on the 18th hole in round three after a risky recovery shot backfired.
9 Jon Rahm's age in months the last time Phil Mickelson missed the cut in the US PGA, in 1995.
10 Jimmy Walker's opening round as defending champion was a 10-over-par 81.
11 The par-four 11th coincidentally ranked as the 11th hardest hole overall with a scoring average of 4.192.
12 Paul Casey was a combined 12 under par for his first round in this year's majors.
13 The average world ranking of the last 13 PGA winners before this week was 25. Kevin Kisner began the week ranked 25th.
14 The world ranking of Justin Thomas before his victory.
15 Of the top 15 players after 54 holes, only Oosthuizen had previously won a major.
16 The par-four 16th marks the start of Quail Hollow's so-called "Green Mile" of finishing holes, some of the toughest in golf.
17 The first round scoring average of the last 17 major champions was 67.2. Kisner and Thorbjorn Olesen shot 67 on day one at Quail Hollow.
18 For the first time in 18 majors, the eventual winner was over par after round one (Thomas shot 73).
