In this photo taken by an individual not employed by the Associated Press and obtained by the AP outside Iran shows students of the Sharif University of Technology attend a protest sparked by the death in September of 22-year-old Mahsa Amini in the custody of the country's morality police, in Tehran, Friday, Oct. 7, 2022. (AP Photo)
In this photo taken by an individual not employed by the Associated Press and obtained by the AP outside Iran shows students of the Sharif University of Technology attend a protest sparked by the death in September of 22-year-old Mahsa Amini in the custody of the country's morality police, in Tehran, Friday, Oct. 7, 2022. (AP Photo)
In this photo taken by an individual not employed by the Associated Press and obtained by the AP outside Iran shows students of the Sharif University of Technology attend a protest sparked by the death in September of 22-year-old Mahsa Amini in the custody of the country's morality police, in Tehran, Friday, Oct. 7, 2022. (AP Photo)
In this photo taken by an individual not employed by the Associated Press and obtained by the AP outside Iran shows students of the Sharif University of Technology attend a protest sparked by the deat

Protests continue in Iran despite warning from authorities


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Protests in Iran continued on Saturday evening despite a warning from the country’s powerful Islamic Revolutionary Guard Corps, a wing of the armed forces, which said that the “patience” of security forces had run out.

Videos uploaded to social media showed large crowds gathered at Tehran University and government-linked militias trying to disburse them with teargas.

Iran has been rocked by protests since September 16, when Mahsa Amini, 22, died in hospital after being beaten in custody. She had been detained by the country’s so-called morality police for violating the government-imposed dress code.

  • Iranians protest in Tehran after the death of 22-year-old Mahsa Amini after she was detained by the morality police in September. AP Photo
    Iranians protest in Tehran after the death of 22-year-old Mahsa Amini after she was detained by the morality police in September. AP Photo
  • Protests have intensified despite a vicious government crackdown that has left as many as 200 people dead, although estimates of the toll by rights groups vary. AP Photo
    Protests have intensified despite a vicious government crackdown that has left as many as 200 people dead, although estimates of the toll by rights groups vary. AP Photo
  • At least eight members of the security forces have also been killed or wounded during the unrest and there are signs that violent resistance could be intensifying. AP Photo
    At least eight members of the security forces have also been killed or wounded during the unrest and there are signs that violent resistance could be intensifying. AP Photo
  • A fire burns at the office of the governor of Mahabad, in the West Azerbaijan province of Iran. AFP
    A fire burns at the office of the governor of Mahabad, in the West Azerbaijan province of Iran. AFP
  • Protesters gather in the a courtyard of Chitgar complex in western Tehran. AFP
    Protesters gather in the a courtyard of Chitgar complex in western Tehran. AFP
  • Iranian protesters continue to defy a deadly crackdown by security forces. AFP
    Iranian protesters continue to defy a deadly crackdown by security forces. AFP
  • A woman cuts her hair at the grave site of Nika Shahkarami in the city of Khorramabad, during a reported memorial held to mark 40 days since the death of the 16-year-old. AFP
    A woman cuts her hair at the grave site of Nika Shahkarami in the city of Khorramabad, during a reported memorial held to mark 40 days since the death of the 16-year-old. AFP
  • A woman not wearing a headscarf stands on top of a vehicle as thousands make their way towards Saqez, Mahsa Amini's home town, to mark 40 days since her death in police custody. AFP
    A woman not wearing a headscarf stands on top of a vehicle as thousands make their way towards Saqez, Mahsa Amini's home town, to mark 40 days since her death in police custody. AFP
  • Iranian riot police prepare to confront protesters the capital, Tehran. AFP
    Iranian riot police prepare to confront protesters the capital, Tehran. AFP
  • Iranian protesters surge forward amid clashes with riot police in Tehran. AFP
    Iranian protesters surge forward amid clashes with riot police in Tehran. AFP
  • A crowd blocks an intersection during a protest to mark 40 days since Amini's death in custody. AP Photo
    A crowd blocks an intersection during a protest to mark 40 days since Amini's death in custody. AP Photo
  • Iranian police arrive to disperse a protest in Tehran. AP Photo
    Iranian police arrive to disperse a protest in Tehran. AP Photo
  • Protesters chant at a vigil for Amini at the Khajeh Nasir Toosi University of Technology in Tehran. Reuters
    Protesters chant at a vigil for Amini at the Khajeh Nasir Toosi University of Technology in Tehran. Reuters
  • Students at Sharif University of Technology attend a protest. AP Photo
    Students at Sharif University of Technology attend a protest. AP Photo
  • Police outside Sharif University during a student protest. AP Photo
    Police outside Sharif University during a student protest. AP Photo
  • Students at the university protest over the death of Amini, who was in 'morality police' custody for allegedly breaking strict rules on head coverings for women. AP Photo
    Students at the university protest over the death of Amini, who was in 'morality police' custody for allegedly breaking strict rules on head coverings for women. AP Photo
  • The students' banner says: 'No to mandatory hijab'. AP Photo
    The students' banner says: 'No to mandatory hijab'. AP Photo

Street protests, which have also energised the country’s marginalised Kurdish and Baloch minorities as well as secular students and unions, have been accompanied by strikes. Teachers and oil sector workers have joined industrial action, protesting against the government response to the demonstrations.

The IRGC is linked to an internal militia force known as the Basij, which is tasked with maintaining security on the streets.

Government security forces have been accused of widespread abuses in an continuing crackdown and while estimates of the death toll vary, rights groups say at least 200 people, including over 20 children, have been killed.

“So far, Basijis have shown restraint and they have been patient,” the head of the IRGC in the Khorasan Junubi province, Brigadier General Mohammadreza Mahdavi, was quoted as saying by the state news agency IRNA. “But it will get out of our control if the situation continues.”

On Saturday, the commander of the IRGC, Hossein Salami, told protesters that Saturday would be their last day of taking to the streets.

Meanwhile, more than 300 Iranian journalists demanded the release of two colleagues jailed for their coverage of Amini in a statement published by the Iranian Etemad and other newspapers on Sunday.

Niloofar Hamedi took a photo of Amini's parents hugging each other in a Tehran hospital where their daughter was lying in a coma.

The image, which Ms Hamedi posted on Twitter, was the first signal to the world that all was not well with Amini, who had been detained three days earlier for what the morality police deemed inappropriate dress.

Elaheh Mohammadi covered Amini's funeral in her Kurdish home town Saqez, where the protests began. A joint statement released by Iran’s intelligence ministry and the intelligence organisation of the Revolutionary Guards on Friday had accused Ms Hamedi and Ms Mohammadi of being CIA foreign agents.

The arrests match an official narrative that Iran's archenemy the United States, Israel and other western powers and their local agents are behind the unrest and are determined to destabilise the country.

At least 40 journalists have been detained in the past six weeks, according to rights groups, and the number is growing.

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
Who has been sanctioned?

Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.

Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.

Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.

Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.

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.”

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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

Three ways to get a gratitude glow

By committing to at least one of these daily, you can bring more gratitude into your life, says Ong.

  • During your morning skincare routine, name five things you are thankful for about yourself.
  • As you finish your skincare routine, look yourself in the eye and speak an affirmation, such as: “I am grateful for every part of me, including my ability to take care of my skin.”
  • In the evening, take some deep breaths, notice how your skin feels, and listen for what your skin is grateful for.
Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

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Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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First Test: October 2-6, at Visakhapatnam

Second Test: October 10-14, at Maharashtra

Third Test: October 19-23, at Ranchi

Company profile

Name: Steppi

Founders: Joe Franklin and Milos Savic

Launched: February 2020

Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year

Employees: Five

Based: Jumeirah Lakes Towers, Dubai

Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings

Second round raised Dh720,000 from silent investors in June this year

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
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Updated: October 30, 2022, 4:01 PM