Ever since Toy Story hit cinemas in 1995, Pixar has reigned supreme over all other animation studios, enjoying success and adoration.
The studio came into being in 1986 when Steve Jobs, co-founder of Apple, acquired a computer graphics division from Lucasfilm. Pixar was sold to Disney in 2006 for more than $7 billion.
Over the past three decades, Pixar has released 27 animated feature films, most of which were big box-office successes and earned the approval of critics. To date, the studio has won 23 Oscars in various categories, the most recent being the Best Animated Feature award for Soul in 2021.
But not many cinema-goers would consider Pixar’s last six films to be its strongest, most memorable family movies. After Toy Story 4 in 2019, the studio released Onward (2020), Soul (2020), Luca (2021), Turning Red (2022), Lightyear (2022) and Elemental (2023).
This is not to say any of these films were bad. On the contrary, they’re mostly good, if not great. They're just ... forgettable. It's not a word critics would usually use to describe Pixar films, especially during its first 20 years of business.
So, what has gone wrong, exactly? Of those six films, five are wholly new stories with original characters. It’s admirable that Pixar went down that route at a time when the biggest moneymakers for studios were comic book adaptations and remakes, but the reaction to the movies suggests the characters weren’t strong enough to begin franchises.
To cut Pixar some slack, it's worth mentioning that four of these films suffered because of the Covid 19 pandemic and were watched mostly through streaming and video-on-demand services. Even Lightyear, a film about the character Buzz Lightyear from the Toy Story franchise, barely made more money than its budget of $200 million.
Elemental, a film about the relationship between different elements such as water and fire, was a box office success after making more than $490 million – but it’s a far cry from the numbers Pixar usually enjoys. Toy Story 4 made more than $1 billion during its theatrical run in 2019.
Pixar’s coming film, Inside Out 2, is a sequel to the highly successful Inside Out from 2015. The first film made more than $850 million against its $175 million budget. The sequel will continue to follow Riley and all of her emotions, with new ones added as she enters her teenage years.
Inside Out was praised for creating an engaging way for children to understand the different emotions a person can go through at any given time. With anthropomorphised emotions including Joy, Sadness, Anger and Fear as the main characters, children and young adults were able to distinguish the different parts of their personalities.
It's evident from recent trends that producing new and original films is risky. There is often more buzz around the familiar. Of the top 10 films with the best box office returns in 2023, eight were adaptations of familiar characters, one was a historical biopic (Oppenheimer) and the other was Elemental.
Inside Out 2 has the potential to take Pixar back to the days of box office domination, which means matching or surpassing the first film’s returns.
But talking about box office success without considering the cultural footprint of a film is very near-sighted. The success of a film should also be measured by its staying power, its re-watchability and the quality of the experience it delivers.
Inside Out introduced memorable characters that became part of the conversation, which in today’s social media language means they became accessible using memes. The impact of being used in meme form cannot be overstated today – it allows a film to remain relevant for far longer than might be expected.
Pixar will hope the sequel has the same impact and the studio has recruited rising stars including Maya Hawke, Ayo Edeberi, Adele Exarchopoulos and Paul Walter Hauser to voice new characters and draw in a new set of fans.
Pixar also aims to diversify the experience of watching the film in some countries, by dubbing it in languages including Hindi and Arabic. Vox Cinemas says the Arabic version will be screened in Saudi Arabia, Kuwait and Egypt.
Of course, there’s no guarantee of success. The film could be disappointing, with reviews and word of mouth causing it to drop off. But all signs indicate that Pixar is in line for a big hit.
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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SQUADS
UAE
Mohammed Naveed (captain), Mohamed Usman (vice-captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan
Nepal
Paras Khadka (captain), Gyanendra Malla, Dipendra Singh Airee, Pradeep Airee, Binod Bhandari, Avinash Bohara, Sundeep Jora, Sompal Kami, Karan KC, Rohit Paudel, Sandeep Lamichhane, Lalit Rajbanshi, Basant Regmi, Pawan Sarraf, Bhim Sharki, Aarif Sheikh
More from Neighbourhood Watch:
21 Lessons for the 21st Century
Yuval Noah Harari, Jonathan Cape
Results
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Company%20profile
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World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
Games on BeIN Sports
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Liverpool's all-time goalscorers
Ian Rush 346
Roger Hunt 285
Mohamed Salah 250
Gordon Hodgson 241
Billy Liddell 228
Name: Brendalle Belaza
From: Crossing Rubber, Philippines
Arrived in the UAE: 2007
Favourite place in Abu Dhabi: NYUAD campus
Favourite photography style: Street photography
Favourite book: Harry Potter
Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
Company%20profile
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THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
Torque: 250Nm
Price: Dh54,500
On sale: now
'Ghostbusters: From Beyond'
Director: Jason Reitman
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
