Covid-19 radically changed many things about our lives, not least our relationship with technology. As we approach the second anniversary of the declaration of the pandemic, technological innovation is playing an ever-greater role in the way we work, communicate and entertain ourselves, and that surge now looks set to continue well into 2022.
The impact on the tech industry itself has been profound, too. While the pandemic supercharged the development and adoption of some technologies, turning some companies into big winners, others found themselves in something of a holding pattern, held up by chip shortages, hardware scarcity and economic turmoil.
LG at CES
Every January, the eyes of the industry alight on the world’s biggest tech show, Consumer Electronics Show (CES) in Las Vegas, as it showcases some of the latest ideas and drops hints towards the direction of travel. But for the second year running, its impact will be severely dented by Covid, with Google, Amazon, Intel, Twitter and other major exhibitors having pulled out in recent days over health and safety fears.
This news may end up overshadowing that of the technology itself, but the show will still be happening virtually. It promises new categories relating to space travel and food, alongside the usual collection of eye-popping prototypes.
Korean tech giant LG, for example, is set to unveil its Media Chair, a futuristic personal pod incorporating a recliner kitted out with speakers and enveloped by a huge wrap-around screen.
Apple cars and glasses
One company never exhibits its products at CES, and that’s Apple. The past year has been pretty quiet by its standards, and this has fuelled more rumour than usual about its plans for 2022. Speculation that the company is moving into car manufacturing is once again rife, after car makers including Hyundai and Nissan issued statements last year denying their involvement.
More imminent, however, is the prospect of a pair of smart spectacles, with one reliable tech analyst, Ming-Chi Kuo, predicting a launch before the end of 2022. Ever since the lukewarm response to Google Glass – very much a product before its time – and more recent ones such as Magic Leap, the sector has felt somewhat tainted. Apple, however, is more likely to succeed where others have failed. The device is rumoured to be capable of both augmented reality (AR, information laid over the real world) and virtual reality (VR, effectively transporting you to a different computer-generated space). And once again, it’s being touted as a technology that could ultimately replace the smartphone.
Will you enter the metaverse?
Facebook recently rebranded its parent company as Meta, signalling an attempt in the coming year to accelerate its much-hyped venture into the so-called metaverse. That will involve promotion of the use of VR both at work (reimagining remote collaboration, with avatars and 3D spaces) and at play (ever-more realistic gaming scenarios). But the headsets are still clunky, the ecosystem very much in its infancy, and public enthusiasm seems limited to geeks and early adopters. It may be many years before the majority of us feel like entering the metaverse, but you can be sure that in 2022 we’ll be repeatedly told that it’s something we ought to be doing.
TikTok and Instagram: social media dominates
While Meta focuses more on VR than the Facebook platform that brought its wealth, TikTok has recently vaulted it – and Google, would you believe? – to become the world’s most popular online destination. As its number of daily users heads towards 1.5 billion, it will become a huge economic force as marketing opportunities expand and its stars begin to rake in huge sums.
Meanwhile, Instagram is seeking to recapture some of the users it has lost by reintroducing a chronological feed in the first quarter of 2022. By offering posts in chronological order – rather than posts most likely to grab attention – it will put greater control back into the hands of its users, while also countering criticism for enabling addictive behaviour. That criticism will inevitably mount up at TikTok, too, as young people devote more hours to scrolling through its feeds.
What will happen to our smartphones?
Our window to this social media world is primarily the smartphone, and low-cost Android handsets are set to get a boost in 2022 with a new version of the operating system Android Go. While a software update may look uninteresting on paper, its impact on smartphone owners in low-income countries could be huge, with faster operation and battery-saving technology enhancing both the life and the usability of those devices.
In the high-end world, meanwhile, 2022 could spell the end of that little wedge of plastic, the SIM, which has been dutifully slotted into cellphones for decades. Apple is rumoured to be producing its first eSIM-only iPhone by the autumn of 2022.
NFTs continue to rise
Of less relevance to the real world, but no less discussed, are the nebulous entities of cryptocurrencies and non-fungible tokens (NFTs), whose existence and value is predicated on their provable digital scarcity. There’s certainly no lack of interest in them: Coinbase, a cryptocurrency exchange app, overtook TikTok on a couple of occasions in 2021 to become the most downloaded app on Apple devices, while sales of NFTs are hitting record highs; auction house Sotheby’s sold 28 NFT lots in June for $17.1 million.
The question to be answered in 2022 and beyond is whether these conceptual belongings are as they’ve been billed, i.e. a thrilling opportunity for humanity and a glorious symbol of self-governance. Or, conversely, whether they’re a global grift to enable the rich to become richer, while the computer power that’s used to magic them into being continues to wreak damage on the environment.
The world will be watching, with a raised eyebrow.
THE SPECS
Engine: 1.5-litre
Transmission: 6-speed automatic
Power: 110 horsepower
Torque: 147Nm
Price: From Dh59,700
On sale: now
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
How to get exposure to gold
Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.
A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.
Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.
Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.
London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long
However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.
UAE currency: the story behind the money in your pockets
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
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
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
How green is the expo nursery?
Some 400,000 shrubs and 13,000 trees in the on-site nursery
An additional 450,000 shrubs and 4,000 trees to be delivered in the months leading up to the expo
Ghaf, date palm, acacia arabica, acacia tortilis, vitex or sage, techoma and the salvadora are just some heat tolerant native plants in the nursery
Approximately 340 species of shrubs and trees selected for diverse landscape
The nursery team works exclusively with organic fertilisers and pesticides
All shrubs and trees supplied by Dubai Municipality
Most sourced from farms, nurseries across the country
Plants and trees are re-potted when they arrive at nursery to give them room to grow
Some mature trees are in open areas or planted within the expo site
Green waste is recycled as compost
Treated sewage effluent supplied by Dubai Municipality is used to meet the majority of the nursery’s irrigation needs
Construction workforce peaked at 40,000 workers
About 65,000 people have signed up to volunteer
Main themes of expo is ‘Connecting Minds, Creating the Future’ and three subthemes of opportunity, mobility and sustainability.
Expo 2020 Dubai to open in October 2020 and run for six months
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
UAE currency: the story behind the money in your pockets
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The Facility’s Versatility
Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket
UAE currency: the story behind the money in your pockets
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The bio
Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
Marital Status: Single
School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
Job Title: Pilot, First Officer
Number of hours flying in a Boeing 777: 1,200
Number of flights: Approximately 300
Hobbies: Exercising
Nicest destination: Milan, New Zealand, Seattle for shopping
Least nice destination: Kabul, but someone has to do it. It’s not scary but at least you can tick the box that you’ve been
Favourite place to visit: Dubai, there’s no place like home
Company%20Profile
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