US President Joe Biden's entire domestic agenda is on the line as he and other Democratic leaders attempt to navigate warring factions within their party.
On Thursday, the US Senate and House passed a stopgap bill to prevent a government shutdown, which Mr Biden signed on Thursday evening. Still, that only avoids one crisis he and his party are facing.
That leaves three more to solve: passing his $1.1 trillion infrastructure bill, passing his $3.5tn reconciliation bill and raising the debt ceiling. Failing to do the first two would leave a major stain on his legacy. Failing to accomplish the third would be a catastrophe.
But even with a majority in both chambers of the US Congress, Democrats are struggling to accomplish this.
Here are the key players to keep an eye on as the drama unfolds:
Joe Manchin and Kyrsten Sinema
Mr Biden's $3.5tn reconciliation bill would fund everything from universal prekindergarten to sweeping climate change programmes. Though Senate Republicans are adamant they will not vote for the piece of legislation, Democrats, the majority, could still pass the bill if everyone in their party, plus Vice President Kamala Harris, votes in favour.
But moderate senators Joe Manchin and Kyrsten Sinema are proving to be major stumbling blocks.
First elected in 2010, Mr Manchin represents the state of West Virginia, which has an overall population of less than two million residents. In his 2018 re-election bid, he defeated Republican challenger Patrick Morrisey by less than 20,000 votes.
In a statement on Wednesday, Mr Manchin voiced his disapproval over the price tag attached to the reconciliation bill.
“Proposing a historic expansion of social programmes while ignoring the fact we are not in a recession and that millions of jobs remain open will only feed a dysfunction that could weaken our economic recovery,” he said.
Mr Manchin's proposed cost of the package is $1.5tn, which he confirmed to reporters on Thursday. This leaves a considerable price gap between him and his more left-leaning Democratic colleagues.
“I've never been a liberal in any way, shape or form,” he said.
Freshman Arizona Senator Krysten Simena, who edged out her 2018 opponent by about 3 per cent, has seen her approval numbers plummet. She also voiced her opposition to the $3.5tn package, though she has not yet publicly confirmed a price she would be comfortable with.
When asked by reporters where she stood on her vote, Ms Sinema laughed and said, "I'm clearly in front of the elevator" as she dodged reporters.
For perspective, West Virginia carries five electoral college votes into the presidential election and Arizona comes in at 11, while states like California and New York have 55 and 29, respectively.
Alexandria Ocasio-Cortez and House Progressives
Mr Manchin and Ms Sinema's reluctance towards the reconciliation bill has angered Progressive Democrats in the US House of Representatives, including Alexandria Ocasio-Cortez.
This group of roughly 50 members are threatening to oppose the $1.1tn bipartisan infrastructure package unless the reconciliation bill is passed at the same time. This is because they want commitment from the Biden administration that the larger bill will pass as it contains sweeping social programme policy changes like childcare and climate change initiatives.
House progressives have defended their stance, saying their agenda is in line with Mr Biden's economic agenda.
“We are not in the business of wasting this once-in-a-lifetime opportunity to deliver on the promises that we have made in childcare, in health care, in addressing our climate infrastructure and addressing our standard infrastructure as well,” said Ilhan Omar, a progressive congresswoman from Minnesota.
Ms Ocasio-Cortez recently lambasted Mr Manchin over his record on climate change after he refused to support the $3.5tn spending bill, accusing him of "'bipartisan' corruption that masquerades as clear-eyed moderation".
Nancy Pelosi
This infighting puts House Speaker Nancy Pelosi in a precarious position as she had been pressing forward for a Thursday vote on the infrastructure bill.
“We’re on a path to win the vote,” she said at a news conference. “I don’t want to even consider any other options than that.”
Without support from progressives, the bill will fail.
Ms Pelosi added that the reconciliation bill “was a culmination” of her service in Congress.
Ms Pelosi was forced to delay Thursday's planned vote after more than half of the members of the Congressional Progressive Caucus - which represents the most left-leaning faction of Democrats - followed through on their promise not to vote on the infrastructure bill without first passing the reconciliation bill.
Still, she remains adamant that a vote will happen.
“There’ll be a vote today,” Ms Pelosi said as she departed the Capitol after midnight on Friday.
Joe Biden
For months, Mr Biden has spoken about the need for Congress to pass both these bills, pointing to recent extreme weather events in the US as evidence that the country must invest more in infrastructure to fight climate change.
Mr Biden, a former senator, framed himself as a politician with the proper understanding of the workings of Congress to reach across the aisle to accomplish his agenda.
For his part, Mr Biden has met regularly with Mr Manchin and Ms Sinema to negotiate on the reconciliation deal, but no solution has yet been presented.
Failure to pass his economic agenda while his party controls both chambers of Congress would be a crushing loss for the president and many would argue, the American people.
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
MATCH INFO
Qalandars 112-4 (10 ovs)
Banton 53 no
Northern Warriors 46 all out (9 ovs)
Kumara 3-10, Garton 3-10, Jordan 2-2, Prasanna 2-7
Qalandars win by six wickets
More from Rashmee Roshan Lall
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
Fifa Club World Cup quarter-final
Esperance de Tunis 0
Al Ain 3 (Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
UAE SQUAD
Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani
Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Salem Rashid, Mohammed Al Attas, Alhassan Saleh
Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Yahya Nader, Ahmed Barman, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah, Yahya Al Ghassani
Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Company profile
Name: Tratok Portal
Founded: 2017
Based: UAE
Sector: Travel & tourism
Size: 36 employees
Funding: Privately funded
Hydrogen: Market potential
Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.
"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.
Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.
The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.
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)
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
RIVER%20SPIRIT
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
New schools in Dubai
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
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%3Cp%3EDungeons%20%26amp%3B%20Dragons%20began%20as%20an%20interactive%20game%20which%20would%20be%20set%20up%20on%20a%20table%20in%201974.%20One%20player%20takes%20on%20the%20role%20of%20dungeon%20master%2C%20who%20directs%20the%20game%2C%20while%20the%20other%20players%20each%20portray%20a%20character%2C%20determining%20its%20species%2C%20occupation%20and%20moral%20and%20ethical%20outlook.%20They%20can%20choose%20the%20character%E2%80%99s%20abilities%2C%20such%20as%20strength%2C%20constitution%2C%20dexterity%2C%20intelligence%2C%20wisdom%20and%20charisma.%20In%20layman%E2%80%99s%20terms%2C%20the%20winner%20is%20the%20one%20who%20amasses%20the%20highest%20score.%3C%2Fp%3E%0A
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.