• The Gucci Aria collection marks the Italian fashion label's 100th anniversary. All photos by Ernesto S Ruscio / Getty Images for Gucci
    The Gucci Aria collection marks the Italian fashion label's 100th anniversary. All photos by Ernesto S Ruscio / Getty Images for Gucci
  • A handbag from Gucci's latest collection, Aria
    A handbag from Gucci's latest collection, Aria
  • The collection paid homage to Gucci's equestrian heritage
    The collection paid homage to Gucci's equestrian heritage
  • Many of the looks featured leather harnesses
    Many of the looks featured leather harnesses
  • A handbag referencing Gucci's milestone year
    A handbag referencing Gucci's milestone year
  • A model sports nose jewellery at Gucci
    A model sports nose jewellery at Gucci
  • The show was presented against a medley of Gucci-themed pop songs
    The show was presented against a medley of Gucci-themed pop songs
  • A glittery silver suit came emblazoned with both Gucci and Balenciaga
    A glittery silver suit came emblazoned with both Gucci and Balenciaga
  • References to other designers aside, the Aria collection has Alessandro Michele stamped all over it
    References to other designers aside, the Aria collection has Alessandro Michele stamped all over it
  • Founder Guccio Gucci is said to have been inspired by travel bags he had come across when working as a bellhop in London's Savoy hotel
    Founder Guccio Gucci is said to have been inspired by travel bags he had come across when working as a bellhop in London's Savoy hotel
  • A handbag from Gucci's latest collection, Aria
    A handbag from Gucci's latest collection, Aria

Gucci sends a rabbit down the runway: the Aria collection celebrates the Italian label's 100th anniversary


Panna Munyal
  • English
  • Arabic

Gucci turns 100 years old this year. Legend has it that the Italian fashion house's founder Guccio Gucci was an ardent admirer of the leather travel bags he came in contact with when he was working as a bellhop at the Savoy hotel in London. When he returned to Florence, Guccio opened his own leather goods shop, specialising in bags as well as leather equestrian equipment.

On Thursday, Gucci's creative director Alessandro Michele paid homage to both the Savoy and the house's equine heritage, as well as celebrating Gucci's milestone birthday with a collection titled Aria.

Michele, who has come to be known for his eccentric aesthetic and unusual props also sent a rabbit down the runway.

A model for Gucci's Aria collection, shown on Thursday. Photo: Ernesto S Ruscio / Getty Images for Gucci
A model for Gucci's Aria collection, shown on Thursday. Photo: Ernesto S Ruscio / Getty Images for Gucci

“Gucci was born under some kind of constellation, because the power it holds is nearly inexplicable,’’ Michele said in a video press conference.

The show took place in a film-set version of at the Savoy, while its title Aria refers to Italy's famed lyric opera.

Models walked down long-corridor runways outfitted with hundreds of flashing cameras nailed to the wall in the place of absent paparazzi. A medley of Gucci-themed pop songs – proof, if needed, of the brand's enduring relevance – provided the soundtrack.

Michele also borrowed references from the Tom Ford era and from French sister-brand Balenciaga, which is part of the same parent company, Kering.

“Tom understood right from the beginning that Gucci had some kind of magnetism, this cult power,” Michele said.

Tom Ford’s 1996 red velvet suit was reworked to include a leather harness and worn over a powder blue shirt, while a glittery silver suit came out emblazoned with both Gucci and Balenciaga.

Michele also put a spin on Gucci’s trademark equestrian references, including riding caps, fringed leather riding crops and spit-polished boots mixed with glamorous sequined evening wear. Elsewhere, models sported jewellery dangling, in true Michele form, from their noses.

A detail from Gucci's Aria collection shown in Rome on April 15. Photo: Ernesto S Ruscio / Getty Images for Gucci
A detail from Gucci's Aria collection shown in Rome on April 15. Photo: Ernesto S Ruscio / Getty Images for Gucci

This was the first collection of 2021 for Gucci, which announced it will no longer follow the traditional fashion calendar and only present two collections a year, in the case of Aria in the form of a video presentation in a year when the pandemic has all but shut down in-person shows.

Reflecting on the century marker, Michele said Gucci's magic is its ability to redefine itself over time, unbeholden to any strictly defined image. “I am trying to renew for the millionth time this brand, this name, this myth, this saga, because Gucci is a complex container that holds many, many things."

With additional reporting from Associated Press

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

The Byblos iftar in numbers

29 or 30 days – the number of iftar services held during the holy month

50 staff members required to prepare an iftar

200 to 350 the number of people served iftar nightly

160 litres of the traditional Ramadan drink, jalab, is served in total

500 litres of soup is served during the holy month

200 kilograms of meat is used for various dishes

350 kilograms of onion is used in dishes

5 minutes – the average time that staff have to eat
 

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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Water waste

In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.

Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.

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The Emirates is the world’s third largest per capita water consumer after the US and Canada.

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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.”

Fund-raising tips for start-ups

Develop an innovative business concept

Have the ability to differentiate yourself from competitors

Put in place a business continuity plan after Covid-19

Prepare for the worst-case scenario (further lockdowns, long wait for a vaccine, etc.) 

Have enough cash to stay afloat for the next 12 to 18 months

Be creative and innovative to reduce expenses

Be prepared to use Covid-19 as an opportunity for your business

* Tips from Jassim Al Marzooqi and Walid Hanna

Ways to control drones

Countries have been coming up with ways to restrict and monitor the use of non-commercial drones to keep them from trespassing on controlled areas such as airports.

"Drones vary in size and some can be as big as a small city car - so imagine the impact of one hitting an airplane. It's a huge risk, especially when commercial airliners are not designed to make or take sudden evasive manoeuvres like drones can" says Saj Ahmed, chief analyst at London-based StrategicAero Research.

New measures have now been taken to monitor drone activity, Geo-fencing technology is one.

It's a method designed to prevent drones from drifting into banned areas. The technology uses GPS location signals to stop its machines flying close to airports and other restricted zones.

The European commission has recently announced a blueprint to make drone use in low-level airspace safe, secure and environmentally friendly. This process is called “U-Space” – it covers altitudes of up to 150 metres. It is also noteworthy that that UK Civil Aviation Authority recommends drones to be flown at no higher than 400ft. “U-Space” technology will be governed by a system similar to air traffic control management, which will be automated using tools like geo-fencing.

The UAE has drawn serious measures to ensure users register their devices under strict new laws. Authorities have urged that users must obtain approval in advance before flying the drones, non registered drone use in Dubai will result in a fine of up to twenty thousand dirhams under a new resolution approved by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai.

Mr Ahmad suggest that "Hefty fines running into hundreds of thousands of dollars need to compensate for the cost of airport disruption and flight diversions to lengthy jail spells, confiscation of travel rights and use of drones for a lengthy period" must be enforced in order to reduce airport intrusion.

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ICC T20 Team of 2021

Jos Buttler, Mohammad Rizwan, Babar Azam, Aiden Markram, Mitchell Marsh, David Miller, Tabraiz Shamsi, Josh Hazlewood, Wanindu Hasaranga, Mustafizur Rahman, Shaheen Afridi

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Scoreline

UAE 2-1 Saudi Arabia

UAE Mabkhout 21’, Khalil 59’

Saudi Al Abed (pen) 20’

Man of the match Ahmed Khalil (UAE)

MATCH INFO

Manchester City 2 (Mahrez 04', Ake 84')

Leicester City 5 (Vardy 37' pen, 54', 58' pen, Maddison 77', Tielemans 88' pen)

Man of the match: Jamie Vardy (Leicester City)