• New Zealand Prime Minister Jacinda Ardern smiles during the cabinet meeting at parliament in Wellington on November 6, 2020. / AFP / Dave Lintott
    New Zealand Prime Minister Jacinda Ardern smiles during the cabinet meeting at parliament in Wellington on November 6, 2020. / AFP / Dave Lintott
  • German Chancellor Angela Merkel gives a statement on the outcome of the presidential election in the United States of America, on November 9, 2020 in Berlin. / AFP / POOL / Michael Kappeler
    German Chancellor Angela Merkel gives a statement on the outcome of the presidential election in the United States of America, on November 9, 2020 in Berlin. / AFP / POOL / Michael Kappeler
  • TOPSHOT - Vice President-elect Kamala Harris delivers remarks in Wilmington, Delaware, on November 7, 2020, after being declared the winners of the presidential election. / AFP / POOL / Andrew Harnik
    TOPSHOT - Vice President-elect Kamala Harris delivers remarks in Wilmington, Delaware, on November 7, 2020, after being declared the winners of the presidential election. / AFP / POOL / Andrew Harnik
  • Finland's Prime Minister Sanna Mari leaves after a last roundtable discussion following a four days European summit at the European Council in Brussels, Belgium, early July 21, 2020. - EU leaders approved a 750-billion-euro package to revive their coronavirus-ravaged economies after a tough 90-hour summit on July 21, along with a trillion-euro budget for the next seven years. (Photo by JOHANNA GERON / POOL / AFP)
    Finland's Prime Minister Sanna Mari leaves after a last roundtable discussion following a four days European summit at the European Council in Brussels, Belgium, early July 21, 2020. - EU leaders approved a 750-billion-euro package to revive their coronavirus-ravaged economies after a tough 90-hour summit on July 21, along with a trillion-euro budget for the next seven years. (Photo by JOHANNA GERON / POOL / AFP)
  • NEW YORK, NEW YORK - MARCH 04: Hillary Rodham Clinton attends Hulu's "Hillary" NYC Premiere on March 04, 2020 in New York City. Monica Schipper/Getty Images for Hulu/AFP
    NEW YORK, NEW YORK - MARCH 04: Hillary Rodham Clinton attends Hulu's "Hillary" NYC Premiere on March 04, 2020 in New York City. Monica Schipper/Getty Images for Hulu/AFP
  • A picture taken on October 12, 2017 in Monrovia shows Liberia's President Ellen Johnson Sirleaf, Africa's first elected female head of state, stepping down after a maximum of two terms. (Photo by ISSOUF SANOGO / AFP)
    A picture taken on October 12, 2017 in Monrovia shows Liberia's President Ellen Johnson Sirleaf, Africa's first elected female head of state, stepping down after a maximum of two terms. (Photo by ISSOUF SANOGO / AFP)
  • Britain's outgoing prime minister Theresa May gives a speech outside 10 Downing street in London on July 24, 2019 before formally tendering her resignation at Buckingham Palace. - Theresa May is set to formally resign on July 24 after taking her final PMQs in the House of Commons with Boris Johnson taking charge at 10 Downing Street on a mission to deliver Brexit by October 31 with or without a deal. (Photo by Tolga AKMEN / AFP)
    Britain's outgoing prime minister Theresa May gives a speech outside 10 Downing street in London on July 24, 2019 before formally tendering her resignation at Buckingham Palace. - Theresa May is set to formally resign on July 24 after taking her final PMQs in the House of Commons with Boris Johnson taking charge at 10 Downing Street on a mission to deliver Brexit by October 31 with or without a deal. (Photo by Tolga AKMEN / AFP)
  • Phumzile Mlambo-Ngcuka, Executive Director of UN Women, speaks during a joint press conference with Mexican President Andres Manuel Lopez Obrador (out of frame), at the National Palace in Mexico City on May 29, 2019. (Photo by Alfredo ESTRELLA / AFP)
    Phumzile Mlambo-Ngcuka, Executive Director of UN Women, speaks during a joint press conference with Mexican President Andres Manuel Lopez Obrador (out of frame), at the National Palace in Mexico City on May 29, 2019. (Photo by Alfredo ESTRELLA / AFP)

Youth found to be more prejudiced than older people about women leaders


  • English
  • Arabic

From New Zealand's Jacinda Ardern to Germany's Angela Merkel, women leaders have won praise for their handling of the Covid-19 crisis, but more than half of men are still unconvinced about having a woman at the helm, a study showed on Monday.

The survey found only 52 per cent of people across the G7 group of wealthy countries – 46 per cent of men and 59 per cent of women – would feel "very comfortable" with a woman as head of their government.

While that is a six-point rise from 2019, research company Kantar said its Reykjavik Index for Leadership showed no change in attitudes when people were asked if men and women were equally suited to leadership roles in politics and business.

"I don't want to be full of doom ... but we cannot presume that equality between men and women is going in the right direction," Michelle Harrison, chief executive of Kantar's public division and the index's co-founder, told the Thomson Reuters Foundation.

"We've made enormous progress [since the 1950s] but right now nothing is telling us that we are in an era of change. It could be the opposite," she said. The pandemic could, she said, push women into more traditional roles.

The researchers were particularly surprised to find that younger people were more prejudiced than older generations about women in high-profile roles, with the biggest differences in Britain, Germany and France.

Their study surveyed 23,000 people across the G7 – Britain, Canada, France, Germany, Italy, Japan and the US – as well as India, Kenya and Nigeria, giving each country a ranking from 0 to 100.

Britain and Canada came top at 81, up from 73 and 77 last year, but the overall score for G7 countries was unchanged at 73, dragged down by Italy, Japan and Germany, which fell three places to 66. Nigeria came bottom at 47.

Young men were significantly less progressive than young women in most countries, with the difference particularly pronounced in Italy and Germany.

Respondents were asked separately if they would be "very comfortable" with a woman leader.

Britain, which has had two female prime ministers, topped the list with 69 per cent of respondents saying they would be, compared with 38 per cent in Japan.

In the US, where Kamala Harris will become the country's first female vice president after Democrat Joe Biden's election win, 62 per cent of respondents said they would be "very comfortable" with a woman leader.

The index was launched by a group of female politicians in 2018 to look at attitudes to women leaders in industry, government and other roles.

Examining 23 sectors, it showed people were most positive about having women leaders in media and entertainment, the sciences and economics. There was least support for women taking top roles in gaming, car manufacturing, defence and policing.

F1 The Movie

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

Director: Joseph Kosinski

Rating: 4/5

Company%20profile
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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.

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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

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Abu Dhabi GP schedule

Friday: First practice - 1pm; Second practice - 5pm

Saturday: Final practice - 2pm; Qualifying - 5pm

Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm

The specs: Aston Martin DB11 V8 vs Ferrari GTC4Lusso T

Price, base: Dh840,000; Dh120,000

Engine: 4.0L V8 twin-turbo; 3.9L V8 turbo

Transmission: Eight-speed automatic; seven-speed automatic

Power: 509hp @ 6,000rpm; 601hp @ 7,500rpm

Torque: 695Nm @ 2,000rpm; 760Nm @ 3,000rpm

Fuel economy, combined: 9.9L / 100km; 11.6L / 100km