The Lincoln Memorial in Washington. Abraham Lincoln, a Republican, was gracious in victory as his Union troops crushed the Confederacy in the civil war. AP Photo
The Lincoln Memorial in Washington. Abraham Lincoln, a Republican, was gracious in victory as his Union troops crushed the Confederacy in the civil war. AP Photo
The Lincoln Memorial in Washington. Abraham Lincoln, a Republican, was gracious in victory as his Union troops crushed the Confederacy in the civil war. AP Photo
The smallest denomination of US currency, the one cent coin, doesn’t buy much, but it does provide a glimpse of how Americans like to see themselves. Every coin carries the Latin phrase “E Pluribus Unum", which translates as “out of many [people], one [nation]”. It’s a tribute to the unity in diversity of 350 million Americans and their migrant history.
But the phrase is not a statement of fact about unity. It’s an ambition.
This ambition historically has often not been achieved because America – like now – has always had to contend with its deep and sometimes violent divisions.
In the 1770s, the British colonists were split between those who remained pro-British and the rebels who created the United States. In the following century what Americans in the southern states called “the peculiar institution” of slavery led to the country almost falling apart. President Abraham Lincoln, a Republican, was gracious in victory as his Union troops crushed the Confederacy in the Civil War.
He promised in his second inaugural address in 1865 a renewed union with magnanimous words carved on the walls of Washington’s Lincoln Memorial: “With malice toward none; with charity for all; with firmness in the right, as God gives us to see the right, let us strive on to finish the work we are in; to bind up the nation’s wounds.”
Demonstrators clash with federal and Portland police in Portland. Political divisions have been exposed during Donald Trump's term in office. Reuters
Now more than a century and a half later, the Democrat who will be the 46th president needs once more to bind up the nation’s wounds. As his defeated opponent Donald Trump sulks in the White House, Joe Biden called for an end to "the anger and demonisation" in politics saying that "the vast majority of the 150 million Americans who voted – they want to get the vitriol out of our politics". In phrases that Lincoln himself might have used, Mr Biden spoke of a new coming together: “The purpose of our politics isn’t to wage total and unrelenting war. It’s to solve problems. We may be opponents but we’re not enemies. We’re Americans.”
Yet healing did not work for Lincoln. He was assassinated by a Confederate diehard, John Wilkes Booth, who shot him in a Washington theatre. For Mr Biden his statesmanlike declaration of coming together will not be easy to put into practice. It may not be possible. There are 70 million Trump voters, some of them irreconcilable, some armed, and a few potentially dangerous.
The culture-war wounds of post-Trump America are deep. Trumpism as a phenomenon will outlast Mr Trump himself since it is based not just on the votes of those 70 million but on decades of genuine grievance as well as bitterness and bigotry. Despite all the froth, lies, nasty comments, and divisive tweets from the White House over the past four years, Mr Trump did not cause America’s deep divisions, but he was elected as a result of them.
He has repeatedly exploited the fault lines in a society divided over wealth, privilege, opportunity, culture, race, and even the meaning of America itself. Is the US, as Ronald Reagan put it “a shining city on a hill", a beacon for the rest of the world? Or is America “fortress America", where generations of politicians have put “America first", suspicious of “foreign entanglements", in which Mr Trump promised to “build that wall” and make Mexico pay for it? (He didn’t succeed, by the way.)
In reality, most of the wall between the US and Mexico went up only in areas that already had smaller barriers. AP Photo
Even in the greatest struggle of the 20th century, the Second World War, the US was so divided between those two visions – the beacon and the fortress – that president Franklin Roosevelt could not lead his country into war. It took the attack on Pearl Harbour by Japan in December 1941 to bomb the US out of isolation and into defeating fascism.
Faced with the clear enemy of Soviet communism in the 1950s America was split again. The McCarthyite witch-hunt ruined the lives of those deemed not sufficiently patriotic. In the 60s and 70s, racism, civil rights and the Vietnam War exposed again the fault lines in American society.
By the 90s, with the collapse of the communist threat, America was left as the world’s only superpower but turned inward again to its own quarrels. From the moment Bill Clinton was elected, he and his wife Hillary were hate figures for the far right. Republicans in Congress conspired to destroy the Clintons, spending years investigating their supposed shady property deals in Arkansas, the so-called “Whitewater Affair". Whitewater yielded nothing, so they switched to Mr Clinton’s sex life. Mr Clinton became only the second president in American history to be impeached. Twenty years later, Democrats got their revenge by impeaching Mr Trump.
Donald Trump and Bill Clinton were both impeached by the US House of Representatives, proceedings towards which exacerbated the divide in America. Bloomberg
Both presidents survived the process, but the country remained deeply split.
The United States, in other words, is always diverse but also divided. For Mr Biden, healing is Job One, but healing now is made more difficult by Mr Trump’s hissy fit, his childish refusal to accept defeat compounded by baseless claims that the election has been “stolen”. The Senate, like the country, is divided down the middle. Rural America and urban America often seem like different nations. Race remains America’s original sin.
There, however, are reasons for optimism.
First – and this is meant as a compliment – Mr Biden can afford to be dull. Rather than the political performance art of Mr Trump, Mr Biden can be steady. He will re-engage with Nato, the Paris climate agreement and the World Health Organisation, and restore a calm America that can truly lead on the world stage. As vice-president, Kamala Harris, a woman of Jamaican and Indian descent, is a living, breathing, human example of “E Pluribus Unum".
Joe Biden's running mate Kamala Harris is a living, breathing, human example of 'E Pluribus Unum'. AP Photo
Bipartisan action on the coronavirus pandemic and foreign policy will be good for every American. And if a nation as vast as the US can be said to have a “mood", there is a sense of exhaustion about America’s divisions. Many Republicans, privately, will be pleased the Trump tantrums no longer define their party. Congressional elections are every two years and voters will not forgive Republicans who offer more division.
One further reason for optimism comes from the Irish writer Oscar Wilde. He quipped that “the youth of America is their oldest tradition. It has been going on now for three hundred years. To hear them talk one would imagine they were in their first childhood. As far as civilisation goes they are in their second".
Beneath the sarcasm, Wilde has a point. America has coped with divisions for several hundred years. No other country – France? China? India? Russia? – captures the imagination of the world the way America does. Mr Biden will not bind up all America’s wounds. But he will try.
Being able to change profoundly is also one of America’s oldest and best traditions. And so is hope.
Gavin Esler is a broadcaster and UK columnist for The National
Tamkeen's offering
Option 1: 70% in year 1, 50% in year 2, 30% in year 3
Option 2: 50% across three years
Option 3: 30% across five years
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
Send “thenational” to the following numbers or call the hotline on: 0502955999
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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
The Prison Letters of Nelson Mandela
Edited by Sahm Venter
Published by Liveright
When: The one-off Test starts on Friday, May 11 What time: Each day’s play is scheduled to start at 2pm UAE time. TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
INFO
What: DP World Tour Championship When: November 21-24 Where: Jumeirah Golf Estates, Dubai Tickets:www.ticketmaster.ae.
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Game Of Thrones Season Seven: A Bluffers Guide
Want to sound on message about the biggest show on television without actually watching it? Best not to get locked into the labyrinthine tales of revenge and royalty: as Isaac Hempstead Wright put it, all you really need to know from now on is that there’s going to be a huge fight between humans and the armies of undead White Walkers.
The season ended with a dragon captured by the Night King blowing apart the huge wall of ice that separates the human world from its less appealing counterpart. Not that some of the humans in Westeros have been particularly appealing, either.
Anyway, the White Walkers are now free to cause any kind of havoc they wish, and as Liam Cunningham told us: “Westeros may be zombie land after the Night King has finished.” If the various human factions don’t put aside their differences in season 8, we could be looking at The Walking Dead: The Medieval Years.
Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
THE SPECS
2020 Toyota Corolla Hybrid LE
Engine: 1.8 litre combined with 16-volt electric motors
Transmission: Automatic with manual shifting mode
Power: 121hp
Torque: 142Nm
Price: Dh95,900
THE CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
So what is Spicy Chickenjoy?
Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
The biog
Name: Salem Alkarbi
Age: 32
Favourite Al Wasl player: Alexandre Oliveira
First started supporting Al Wasl: 7
Biggest rival: Al Nasr
The essentials
What: Emirates Airline Festival of Literature
When: Friday until March 9
Where: All main sessions are held in the InterContinental Dubai Festival City
Price: Sessions range from free entry to Dh125 tickets, with the exception of special events.
Hot Tip: If waiting for your book to be signed looks like it will be timeconsuming, ask the festival’s bookstore if they have pre-signed copies of the book you’re looking for. They should have a bunch from some of the festival’s biggest guest authors.
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)
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.”
South Africa: Faf du Plessis (c), Hashim Amla, Quinton de Kock (w), JP Duminy, Imran Tahir, Aiden Markram, David Miller, Lungi Ngidi, Anrich Nortje, Andile Phehlukwayo, Dwaine Pretorius, Kagiso Rabada, Tabraiz Shamsi, Dale Steyn, Rassie van der Dussen.
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
