British artist Thomas Houseago, centre, poses with American actor Brad Pitt, right, and Australian musician Nick Cave at the Sara Hilden Art Museum in Tampere, Finland. AFP
British artist Thomas Houseago, centre, poses with American actor Brad Pitt, right, and Australian musician Nick Cave at the Sara Hilden Art Museum in Tampere, Finland. AFP
British artist Thomas Houseago, centre, poses with American actor Brad Pitt, right, and Australian musician Nick Cave at the Sara Hilden Art Museum in Tampere, Finland. AFP
British artist Thomas Houseago, centre, poses with American actor Brad Pitt, right, and Australian musician Nick Cave at the Sara Hilden Art Museum in Tampere, Finland. AFP

Brad Pitt and Nick Cave make surprise art debut in Finland


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Hollywood’s Brad Pitt and Australian musician Nick Cave have made their art world debut at an exhibition in Finland.

The Sara Hilden Art Museum, located in the southern Finnish city of Tampere, was initially scheduled to exhibit solely the wide variety of works by British artist Thomas Houseago — known for his sculptures — but he reportedly persuaded the museum to include works by his friends Pitt and Cave.

“Cave and Pitt are already renowned in their respective fields of music and cinema, but this is the first time ever they have exhibited their artwork — pieces which were created during the course of an ongoing dialogue with Houseago,” the Finnish museum said.

Pitt and Cave travelled to Tampere, a university city known for its vibrant culture and music scene, for a pre-opening event on Saturday. Finnish media reported that both men acknowledged being excited and nervous about presenting their art in public for the first time.

Among the nine works on show by the 58-year-old Pitt is a house-shaped structure moulded in clear silicon and shot with bullets and a plaster panel depicting a shooting scene. Pitt reportedly began making ceramic art following his divorce from Angelina Jolie in 2017.

Pitt told the Finnish public broadcaster YLE that his work was about “self-reflection”.

“It’s about, you know, where have I got it wrong in my relationships? Where have I mis-stepped? Where I am complicit?” he said.

“It was born out of ownership of really what I call a radical inventory of self, getting really, brutally honest with me and … taking account of those I may have hurt and moments I’ve just got wrong.”

  • Brad Pitt, in a paisley shirt, at the 'True Romance' premiere in Hollywood, California, on August 9, 1993. Getty Images
    Brad Pitt, in a paisley shirt, at the 'True Romance' premiere in Hollywood, California, on August 9, 1993. Getty Images
  • Brad Pitt, in a white linen shirt, and Gwyneth Paltrow attend the 'Living in Oblivion' premiere on July 12, 1995 at the Royal Theatre in West Los Angeles, California. Getty Images
    Brad Pitt, in a white linen shirt, and Gwyneth Paltrow attend the 'Living in Oblivion' premiere on July 12, 1995 at the Royal Theatre in West Los Angeles, California. Getty Images
  • Brad Pitt, in a wide-open collar, arrives for the 'Meet Joe Black' premiere at the Ziegfeld Theatre in New York City on November 12, 1998. Getty Images
    Brad Pitt, in a wide-open collar, arrives for the 'Meet Joe Black' premiere at the Ziegfeld Theatre in New York City on November 12, 1998. Getty Images
  • Brad Pitt, in a black suit and questionable sunglasses, and Jennifer Aniston at the 51st Annual primetime Emmy Awards in Los Angeles, California, on September 12, 1999. Getty Images
    Brad Pitt, in a black suit and questionable sunglasses, and Jennifer Aniston at the 51st Annual primetime Emmy Awards in Los Angeles, California, on September 12, 1999. Getty Images
  • Brad Pitt, in a leather jacket and combat trousers, and Jennifer Aniston attend the 'Erin Brockovich' premiere in Los Angeles, California, on March 14, 2000. Getty Images
    Brad Pitt, in a leather jacket and combat trousers, and Jennifer Aniston attend the 'Erin Brockovich' premiere in Los Angeles, California, on March 14, 2000. Getty Images
  • Brad Pitt, wearing a beaded necklace, and Jennifer Aniston arrive at the 52nd Annual Primetime Emmy Awards on September 10, 2000 in Los Angeles, California. Getty Images
    Brad Pitt, wearing a beaded necklace, and Jennifer Aniston arrive at the 52nd Annual Primetime Emmy Awards on September 10, 2000 in Los Angeles, California. Getty Images
  • Brad Pitt, in a taupe suit, and Jennifer Aniston arrive for the premiere of 'The Mexican' on February 23, 2001 in Westwood, California. Getty Images
    Brad Pitt, in a taupe suit, and Jennifer Aniston arrive for the premiere of 'The Mexican' on February 23, 2001 in Westwood, California. Getty Images
  • Brad Pitt, in sunnies and a grey blazer, at a photocall for 'Troy' during the 57th Cannes Film Festival on May 13, 2004 in Cannes, France. Getty Images
    Brad Pitt, in sunnies and a grey blazer, at a photocall for 'Troy' during the 57th Cannes Film Festival on May 13, 2004 in Cannes, France. Getty Images
  • Brad Pitt, in a classic tux, and Jennifer Aniston attend the premiere of 'Troy' at Le Palais de Festival on May 13, 2004 in Cannes, France. Getty Images
    Brad Pitt, in a classic tux, and Jennifer Aniston attend the premiere of 'Troy' at Le Palais de Festival on May 13, 2004 in Cannes, France. Getty Images
  • Brad Pitt, in clear plastic sunglasses, attends the Japanese premiere of 'Troy' at Nippon Budokan on May 17, 2004 in Tokyo. Getty Images
    Brad Pitt, in clear plastic sunglasses, attends the Japanese premiere of 'Troy' at Nippon Budokan on May 17, 2004 in Tokyo. Getty Images
  • Brad Pitt, in a camel coat, at a photocall to promote 'Ocean's Twelve' on December 10, 2004 in Rome, Italy. Getty Images
    Brad Pitt, in a camel coat, at a photocall to promote 'Ocean's Twelve' on December 10, 2004 in Rome, Italy. Getty Images
  • Matt Damon and Brad Pitt, in a long black dress coat, at the European premiere of 'Ocean's Twelve' on December 10, 2004 at the Palazzo Venezia in Rome, Italy. Getty Images
    Matt Damon and Brad Pitt, in a long black dress coat, at the European premiere of 'Ocean's Twelve' on December 10, 2004 at the Palazzo Venezia in Rome, Italy. Getty Images
  • Brad Pitt, in a jacket and bleached hair, on stage at Live 8 London in Hyde Park on July 2, 2005 in London, England. Getty Images
    Brad Pitt, in a jacket and bleached hair, on stage at Live 8 London in Hyde Park on July 2, 2005 in London, England. Getty Images
  • Brad Pitt, in a knit beanie, with daughter Zahara at the New Tokyo International Airport on November 27, 2005 in Narita, Japan. Getty Images
    Brad Pitt, in a knit beanie, with daughter Zahara at the New Tokyo International Airport on November 27, 2005 in Narita, Japan. Getty Images
  • Brad Pitt, in Tom Ford, attends a photocall for 'A Mighty Heart' at the Palais des Festivals during the 60th Cannes Film Festival on May 21, 2007 in Cannes, France. Getty Images
    Brad Pitt, in Tom Ford, attends a photocall for 'A Mighty Heart' at the Palais des Festivals during the 60th Cannes Film Festival on May 21, 2007 in Cannes, France. Getty Images
  • Brad Pitt and Angelina Jolie attend the premiere for 'A Mighty Heart' at the Palais des Festivals during the 60th Cannes Film Festival on May 21, 2007 in Cannes, France. Getty Images
    Brad Pitt and Angelina Jolie attend the premiere for 'A Mighty Heart' at the Palais des Festivals during the 60th Cannes Film Festival on May 21, 2007 in Cannes, France. Getty Images
  • Brad Pitt and Angelina Jolie at the premiere for 'Ocean's Thirteen' at the Palais des Festivals during the 60th Cannes Film Festival on May 24, 2007 in Cannes, France. Getty Images
    Brad Pitt and Angelina Jolie at the premiere for 'Ocean's Thirteen' at the Palais des Festivals during the 60th Cannes Film Festival on May 24, 2007 in Cannes, France. Getty Images
  • Brad Pitt, in a light beige three-piece, attends a photocall for 'The Assassination Of Jesse James' at the 64th Venice Film Festival on September 2, 2007 in Venice, Italy. Getty Images
    Brad Pitt, in a light beige three-piece, attends a photocall for 'The Assassination Of Jesse James' at the 64th Venice Film Festival on September 2, 2007 in Venice, Italy. Getty Images
  • Angelina Jolie and Brad Pitt, in a cream tux, attend 'The Assassination Of Jesse James' premiere during the 64th Venice Film Festival on September 2, 2007 in Venice, Italy. Getty Images
    Angelina Jolie and Brad Pitt, in a cream tux, attend 'The Assassination Of Jesse James' premiere during the 64th Venice Film Festival on September 2, 2007 in Venice, Italy. Getty Images
  • Brad Pitt, in a flat cap and coat, and Angelina Jolie arrive for the premiere of 'The Assassination of Jesse James' during the 33rd Deauville American Film Festival on September 3, 2007 in Deauville , France. Getty Images
    Brad Pitt, in a flat cap and coat, and Angelina Jolie arrive for the premiere of 'The Assassination of Jesse James' during the 33rd Deauville American Film Festival on September 3, 2007 in Deauville , France. Getty Images
  • Brad Pitt, in a charcoal three-piece, and Angelina Jolie attend the 'Beowulf' premiere at the Vue Leicester Square on November 11, 2007 in London, England. Getty Images
    Brad Pitt, in a charcoal three-piece, and Angelina Jolie attend the 'Beowulf' premiere at the Vue Leicester Square on November 11, 2007 in London, England. Getty Images
  • Angelina Jolie and Brad Pitt attend the 'Kung Fu Panda' premiere at the Palais des Festivals during the 61st Cannes Film Festival on May 15, 2008 in Cannes, France. Getty Images
    Angelina Jolie and Brad Pitt attend the 'Kung Fu Panda' premiere at the Palais des Festivals during the 61st Cannes Film Festival on May 15, 2008 in Cannes, France. Getty Images
  • Brad Pitt, in a summer suit, during the 'Burn After Reading' photocall at the 65th Venice Film Festival at Palazzo del Casino on August 27, 2008 in Venice, Italy. Getty Images
    Brad Pitt, in a summer suit, during the 'Burn After Reading' photocall at the 65th Venice Film Festival at Palazzo del Casino on August 27, 2008 in Venice, Italy. Getty Images
  • Brad Pitt and Angelina Jolie arrive for the premiere of 'The Curious Case of Benjamin Button' at the Sony Center CineStar on January 19, 2009 in Berlin, Germany. Getty Images
    Brad Pitt and Angelina Jolie arrive for the premiere of 'The Curious Case of Benjamin Button' at the Sony Center CineStar on January 19, 2009 in Berlin, Germany. Getty Images
  • Brad Pitt, in Tom Ford, and Angelina Jolie attend 'The Curious Case of Benjamin Button' premiere on January 22, 2009 at Gaumont Marignan in Paris. Getty Images
    Brad Pitt, in Tom Ford, and Angelina Jolie attend 'The Curious Case of Benjamin Button' premiere on January 22, 2009 at Gaumont Marignan in Paris. Getty Images
  • Brad Pitt, in Tom Ford, and Angelina Jolie arrive for the Orange British Academy Film Awards at the Royal Opera House on February 8, 2009 in London, England. Getty Images
    Brad Pitt, in Tom Ford, and Angelina Jolie arrive for the Orange British Academy Film Awards at the Royal Opera House on February 8, 2009 in London, England. Getty Images
  • Brad Pitt, in Spencer, attends the 'Inglourious Basterds' photocall held at the Palais Des Festivals during the 62nd Cannes Film Festival on May 20, 2009 in Cannes, France. Getty Images
    Brad Pitt, in Spencer, attends the 'Inglourious Basterds' photocall held at the Palais Des Festivals during the 62nd Cannes Film Festival on May 20, 2009 in Cannes, France. Getty Images
  • Brad Pitt, in monogrammed shoes, attends the 'Inglorious Basterds' premiere during the 57th San Sebastian International Film Festival on September 18, 2009 in San Sebastian, Spain. Getty Images
    Brad Pitt, in monogrammed shoes, attends the 'Inglorious Basterds' premiere during the 57th San Sebastian International Film Festival on September 18, 2009 in San Sebastian, Spain. Getty Images
  • Brad Pitt, dressed down in a beanie and jeans, attends the premiere of 'Kick Ass' at the Empire Leicester Square on March 22, 2010 in London, England. Getty Images
    Brad Pitt, dressed down in a beanie and jeans, attends the premiere of 'Kick Ass' at the Empire Leicester Square on March 22, 2010 in London, England. Getty Images
  • Brad Pitt, in leather trousers, and Angelina Jolie attend 'The Tourist' premiere at Palacio de los Deportes on December 16, 2010 in Madrid, Spain. Getty Images
    Brad Pitt, in leather trousers, and Angelina Jolie attend 'The Tourist' premiere at Palacio de los Deportes on December 16, 2010 in Madrid, Spain. Getty Images
  • Brad Pitt, in Maison Martin Margiela, attends 'The Tree Of Life' photocall during the 64th Cannes Film Festival at Palais des Festivals on May 16, 2011 in Cannes, France. Getty Images
    Brad Pitt, in Maison Martin Margiela, attends 'The Tree Of Life' photocall during the 64th Cannes Film Festival at Palais des Festivals on May 16, 2011 in Cannes, France. Getty Images
  • Angelina Jolie and Brad Pitt, in Tom Ford, attend 'The Tree Of Life' premiere during the 64th Cannes Film Festival at Palais des Festivals on May 16, 2011 in Cannes, France. Getty Images
    Angelina Jolie and Brad Pitt, in Tom Ford, attend 'The Tree Of Life' premiere during the 64th Cannes Film Festival at Palais des Festivals on May 16, 2011 in Cannes, France. Getty Images
  • Brad Pitt, in Dolce & Gabbana, and Angelina Jolie attend the 'In The Land of Blood and Honey' premiere during the 62nd Berlin International Film Festival on February 11, 2012 in Berlin, Germany. Getty Images
    Brad Pitt, in Dolce & Gabbana, and Angelina Jolie attend the 'In The Land of Blood and Honey' premiere during the 62nd Berlin International Film Festival on February 11, 2012 in Berlin, Germany. Getty Images
  • Brad Pitt, in Gucci, poses at the 'Killing Them Softly' photocall during the 65th Cannes Film Festival at Palais des Festivals on May 22, 2012 in Cannes, France. Getty Images
    Brad Pitt, in Gucci, poses at the 'Killing Them Softly' photocall during the 65th Cannes Film Festival at Palais des Festivals on May 22, 2012 in Cannes, France. Getty Images
  • Angelina Jolie and Brad Pitt attends the premiere of 'World War Z' at The Empire Cinema on June 2, 2013 in London, England. Getty Images
    Angelina Jolie and Brad Pitt attends the premiere of 'World War Z' at The Empire Cinema on June 2, 2013 in London, England. Getty Images
  • Brad Pitt, in Valentino, at the EE British Academy Film Awards at The Royal Opera House on February 16, 2014 in London, England. Getty Images
    Brad Pitt, in Valentino, at the EE British Academy Film Awards at The Royal Opera House on February 16, 2014 in London, England. Getty Images
  • Brad Pitt, in Gucci, and Angelina Jolie attend a private reception at Kensington Palace on May 8, 2014 in London, England. Getty Images
    Brad Pitt, in Gucci, and Angelina Jolie attend a private reception at Kensington Palace on May 8, 2014 in London, England. Getty Images
  • Brad Pitt, in jeans and a checked blazer, attends the photocall for 'Fury' during the 58th BFI London Film Festival at The Corinthia Hotel on October 19, 2014 in London, England. Getty Images
    Brad Pitt, in jeans and a checked blazer, attends the photocall for 'Fury' during the 58th BFI London Film Festival at The Corinthia Hotel on October 19, 2014 in London, England. Getty Images
  • Brad Pitt, in Salvatore Ferragamo, attends the 'Fury' premiere at Time Square on November 13, 2014 in Seoul, South Korea. Getty Images
    Brad Pitt, in Salvatore Ferragamo, attends the 'Fury' premiere at Time Square on November 13, 2014 in Seoul, South Korea. Getty Images
  • Brad Pitt, in Salvatore Ferragamo, attends the premiere of 'Allied' at Callao City Lights on November 22, 2016 in Madrid, Spain. Getty Images
    Brad Pitt, in Salvatore Ferragamo, attends the premiere of 'Allied' at Callao City Lights on November 22, 2016 in Madrid, Spain. Getty Images
  • Brad Pitt, in white suiting, attends the Japanese premiere of 'War Machine' in Tokyo, Japan, on May 23, 2017. EPA
    Brad Pitt, in white suiting, attends the Japanese premiere of 'War Machine' in Tokyo, Japan, on May 23, 2017. EPA
  • Brad Pitt, in Garrett Leight sunnies, attends the photocall for 'Once Upon a Time ... in Hollywood' during the 72nd Cannes Film Festival on May 22, 2019 in Cannes, France. Getty Images
    Brad Pitt, in Garrett Leight sunnies, attends the photocall for 'Once Upon a Time ... in Hollywood' during the 72nd Cannes Film Festival on May 22, 2019 in Cannes, France. Getty Images
  • Brad Pitt attends the 'Once Upon a Time... in Hollywood' premiere at the Odeon Luxe Leicester Square on July 30, 2019 in London, England. Getty Images
    Brad Pitt attends the 'Once Upon a Time... in Hollywood' premiere at the Odeon Luxe Leicester Square on July 30, 2019 in London, England. Getty Images
  • Brad Pitt attends the 'Ad Astra' screening during the 76th Venice Film Festival at Sala Grande on August 29, 2019 in Venice, Italy. Getty Images
    Brad Pitt attends the 'Ad Astra' screening during the 76th Venice Film Festival at Sala Grande on August 29, 2019 in Venice, Italy. Getty Images
  • Brad Pitt attends a press conference for 'Ad Astra' at National Museum of Emerging Science and Innovation, Miraikan on September 12, 2019 in Tokyo, Japan. Getty Images
    Brad Pitt attends a press conference for 'Ad Astra' at National Museum of Emerging Science and Innovation, Miraikan on September 12, 2019 in Tokyo, Japan. Getty Images
  • Brad Pitt, in Brioni, with the Oscar for Best Supporting Actor during the 92nd Academy Awards at the Dolby Theatre in Hollywood, California, on February 9, 2020. EPA
    Brad Pitt, in Brioni, with the Oscar for Best Supporting Actor during the 92nd Academy Awards at the Dolby Theatre in Hollywood, California, on February 9, 2020. EPA

Cave, known for his dark baritone voice as the frontman for his band Nick Cave and the Bad Seeds, produced a series of ceramic figurines that depict the life of the devil. He designed, painted and glazed the 17 figures between 2020 and this year.

“I wanted to do a devil because it was red. And I like the colour of red glaze,” Cave told YLE. “Eventually I decided to make the life story of the devil itself.

“For me, personally, it speaks into something about the idea of forgiveness or the need to be forgiven. It’s a very personal work for me.”

The exhibition opened on Sunday and runs through January 15, 2023.

What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

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.”

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

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Price: expected to start at Dh1,432,000

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Engine: 2.0-litre 4cyl turbo

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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

UAE v Zimbabwe A, 50 over series

Fixtures
Thursday, Nov 9 - 9.30am, ICC Academy, Dubai
Saturday, Nov 11 – 9.30am, ICC Academy, Dubai
Monday, Nov 13 – 2pm, Dubai International Stadium
Thursday, Nov 16 – 2pm, ICC Academy, Dubai
Saturday, Nov 18 – 9.30am, ICC Academy, Dubai

Women’s World T20, Asia Qualifier

UAE results
Beat China by 16 runs
Lost to Thailand by 10 wickets
Beat Nepal by five runs
Beat Hong Kong by eight wickets
Beat Malaysia by 34 runs

Standings (P, W, l, NR, points)

1. Thailand 5 4 0 1 9
2. UAE 5 4 1 0 8
3. Nepal 5 2 1 2 6
4. Hong Kong 5 2 2 1 5
5. Malaysia 5 1 4 0 2
6. China 5 0 5 0 0

Final
Thailand v UAE, Monday, 7am

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Babumoshai Bandookbaaz

Director: Kushan Nandy

Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami

Three stars

Results

2-15pm: Commercial Bank Of Dubai – Conditions (TB) Dh100,000 (Dirt) 1,400m; Winner: Al Habash, Patrick Cosgrave (jockey), Bhupat Seemar (trainer)

2.45pm: Al Shafar Investment – Handicap (TB) Dh80,000 (D) 1,200m; Winner: Day Approach, Ray Dawson, Ahmad bin Harmash

3.15pm: Dubai Real estate Centre – Handicap (TB) Dh80,000 (D) 1,600m; Winner: Celtic Prince, Richard Mullen, Rashed Bouresly

3.45pm: Jebel Ali Sprint by ARM Holding – Listed (TB) Dh500,000 (D) 1,000m; Winner: Khuzaam, Pat Dobbs, Doug Watson

4.15pm: Shadwell – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Tenbury Wells, Royston Ffrench, Salem bin Ghadayer

4.45pm: Jebel Ali Stakes by ARM Holding – Listed (TB) Dh500,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson

5.15pm: Jebel Ali Racecourse – Handicap (TB) Dh76,000 (D) 1,950m; Winner: Rougher, Pat Dobbs, Doug Watson

JOKE'S%20ON%20YOU
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PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

Election pledges on migration

CDU: "Now is the time to control the German borders and enforce strict border rejections" 

SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom" 

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The Africa Institute 101

Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction. 

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Company Profile 

Founder: Omar Onsi

Launched: 2018

Employees: 35

Financing stage: Seed round ($12 million)

Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners

Updated: September 20, 2022, 6:39 PM