France is increasing pressure on residents to be vaccinated. AP
France is increasing pressure on residents to be vaccinated. AP
France is increasing pressure on residents to be vaccinated. AP
France is increasing pressure on residents to be vaccinated. AP

France bans New Year parties as Omicron restrictions spread


Simon Rushton
  • English
  • Arabic

Several European nations are introducing new coronavirus restrictions as they try to tackle outbreaks of the Omicron mutation.

France has banned New Year parties, Ireland imposed a curfew on restaurants and Germany announced travel restrictions from France and Denmark, which itself closed entertainment venues.

Previously announced travel restrictions between France and the UK, which on Friday endured a third day of record new cases, also kicked into force at 12am CET on Saturday (11pm on Friday in the UK).

“The fifth wave is here and it is here in full force,” French Prime Minister Jean Castex said.

He also said that major public parties and fireworks will be banned on New Year's Eve and recommended that people, even if vaccinated, take a self-test before coming together for end-of-year parties.

France will also reduce the interval between the second and third doses of vaccine from five to four months from January, Mr Castex said.

He said Omicron was spreading like “lightning” in Europe and it would become the dominant strain in France in early 2022.

“I’m appealing to everyone’s responsibility to find other ways to celebrate than large gatherings and avoiding moments of conviviality,” Mr Castex said.

  • Activists demonstrate in front of the BioNTech headquarters in Mainz, Germany. AP Photo
    Activists demonstrate in front of the BioNTech headquarters in Mainz, Germany. AP Photo
  • Head nurse Gunnar Goelzenleuchter hard at work at the coronavirus ICU at a clinic in Darmstadt, Germany. Reuters
    Head nurse Gunnar Goelzenleuchter hard at work at the coronavirus ICU at a clinic in Darmstadt, Germany. Reuters
  • Opponents of coronavirus measures march during a demonstration near the church square in Koenigs Wusterhausen, Germany. AP Photo
    Opponents of coronavirus measures march during a demonstration near the church square in Koenigs Wusterhausen, Germany. AP Photo
  • A pedestrian wearing a protective face mask walks near Notre-Dame Cathedral, in Paris. Nearly 57,000 new Covid-19 infections are being reported in France every 24 hours. EPA
    A pedestrian wearing a protective face mask walks near Notre-Dame Cathedral, in Paris. Nearly 57,000 new Covid-19 infections are being reported in France every 24 hours. EPA
  • Schoolchildren wearing protective face masks play in the courtyard at a private school in Saint-Sebastien-sur-Loire near Nantes, France. Reuters
    Schoolchildren wearing protective face masks play in the courtyard at a private school in Saint-Sebastien-sur-Loire near Nantes, France. Reuters
  • People pay attention to health advice by wearing face masks in Paris. AP Photo
    People pay attention to health advice by wearing face masks in Paris. AP Photo
  • A patient receives an injection of the Moderna Covid-19 vaccine in Merignac on the outskirts of Bordeaux, south-western France. AFP
    A patient receives an injection of the Moderna Covid-19 vaccine in Merignac on the outskirts of Bordeaux, south-western France. AFP
  • Nurses prepare and check vaccine syringes at FieraMesse, the Bolzano trade fair centre, during a vaccination 'marathon' in Italy. Getty Images
    Nurses prepare and check vaccine syringes at FieraMesse, the Bolzano trade fair centre, during a vaccination 'marathon' in Italy. Getty Images
  • People wearing face masks in central Madrid. Spain's prime minister is urging people to 'remain prudent' over the holidays. AP Photo
    People wearing face masks in central Madrid. Spain's prime minister is urging people to 'remain prudent' over the holidays. AP Photo
  • People visit a Christmas market at Plaza Mayor in the Spanish capital. Reuters
    People visit a Christmas market at Plaza Mayor in the Spanish capital. Reuters
  • Protesters take part in a demonstration against the government's measures taken in order to limit the spread of the coronavirus, in Bregenz, Austria. AFP
    Protesters take part in a demonstration against the government's measures taken in order to limit the spread of the coronavirus, in Bregenz, Austria. AFP
  • Dutch King Willem-Alexander visits a vaccination centre in Rijswijk, the Netherlands. EPA
    Dutch King Willem-Alexander visits a vaccination centre in Rijswijk, the Netherlands. EPA

Regional prefects will ban spontaneous parties and ask cities to hold off on fireworks and other celebrations, he said.

“I understand the frustration to limit yourselves in such festive moments, but we owe that to our healthcare personnel,” Mr Castex said.

France will also increase the pressure on people to be vaccinated. Only immunised people will be able to receive a “health pass” that gives them access to restaurants, medical facilities and cultural venues, meaning a negative Covid test will not be sufficient.

“It’s not admissible that a minority of French people who refuse to get vaccinated puts at risk the life of a whole country and the daily life of a large majority of French people who’ve played ball since the beginning of this pandemic,” Mr Castex said.

Germany on Friday designated France and Denmark as high-risk zones for the transmission of coronavirus and will impose a quarantine on unvaccinated travellers from the two countries.

The requirement will be imposed from Sunday and will also apply to travellers from Norway, Lebanon and Andorra. Those who are unvaccinated or who have not recovered from the virus will be subject to quarantine with the possibility of testing on day five.

“We must prepare for a challenge that we have not yet had in this form,” Health Minister Karl Lauterbach said.

Irish restaurants and entertainment venues will close at 8pm from Monday, with the measure extended until January 30 under government plans to curb the spread of Covid-19.

Theatres, sport grounds, cinemas and other entertainment venues will be included in the curfew, Prime Minister Micheal Martin said.

The maximum capacity will be cut to the lesser of 50 per cent or 5,000 people for outdoor events and 50 per cent or 1,000 people for indoor events.

“Left unchecked, this new strain will represent a very significant threat to hospital and critical care, but also a threat to all society and the economy,” Mr Martin said.

Denmark announced it was closing entertainment venues including amusement parks and museums in response to a rise in Covid-19 cases that experts said was faster than expected.

In the Netherlands, health experts are advising a strict lockdown, Dutch media reported on Friday, days after a partial lockdown was extended into January.

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

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Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

COMPANY%20PROFILE
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THE BIO

Favourite book: ‘Purpose Driven Life’ by Rick Warren

Favourite travel destination: Switzerland

Hobbies: Travelling and following motivational speeches and speakers

Favourite place in UAE: Dubai Museum

Despacito's dominance in numbers

Released: 2017

Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon

Views: 5.3 billion on YouTube

Sales: With 10 million downloads in the US, Despacito became the first Latin single to receive Diamond sales certification

Streams: 1.3 billion combined audio and video by the end of 2017, making it the biggest digital hit of the year.

Awards: 17, including Record of the Year at last year’s prestigious Latin Grammy Awards, as well as five Billboard Music Awards

COMPANY%20PROFILE
%3Cp%3ECompany%20name%3A%20Znap%3C%2Fp%3E%0A%3Cp%3EStarted%3A%202017%3C%2Fp%3E%0A%3Cp%3EFounder%3A%20Uday%20Rathod%3C%2Fp%3E%0A%3Cp%3EBased%3A%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3EIndustry%3A%20FinTech%3C%2Fp%3E%0A%3Cp%3EFunding%20size%3A%20%241m%2B%3C%2Fp%3E%0A%3Cp%3EInvestors%3A%20Family%2C%20friends%3C%2Fp%3E%0A
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.

Voy!%20Voy!%20Voy!
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Omar%20Hilal%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Muhammad%20Farrag%2C%20Bayoumi%20Fouad%2C%20Nelly%20Karim%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
MATCH INFO

Uefa Champions League semi-final, first leg

Tottenham 0-1 Ajax, Tuesday

Second leg

Ajax v Tottenham, Wednesday, May 8, 11pm

Game is on BeIN Sports

How to turn your property into a holiday home
  1. Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
  2. Research equivalent Airbnb homes in your location to ensure competitiveness.
  3. Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
  4. Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
  5. Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.

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.”

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

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How to get there

Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
 

EA Sports FC 25
From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

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

Updated: December 17, 2021, 11:18 PM