Latest: Saudi Arabia announces first day of Islamic holiday
Eid Al Adha is expected to begin at the end of July. Though the exact date is not yet known, some astronomers believe it will fall on July 31.
The festival is the most important of two main holidays in the Muslim world. It begins on the 10th day of Dhu Al Hijjah, which is the 12th and final month in the Islamic calendar.
How this corresponds with the Gregorian calendar will depend on when Dhu Al Hijjah begins but it is likely to start either on Tuesday, July 21, or Wednesday, July 22.
When the UAE will celebrate the holiday will be officially determined and announced by local authorities over the next week. But what is Eid Al Adha and how is it celebrated? The National explains ...
What is Eid Al Adha?
Al Adha means the sacrifice. The specific sacrifice this holiday is named after is explained in the Quran, which tells of how Prophet Ibrahim dreamt that God asked him to sacrifice his son, Ismail, as a test of his faith.
At first, Ibrahim dismissed the dream but it reoccurred several nights in a row. The prophet is said to have grappled with the decision but ultimately chose to submit to God's will as an indication of his commitment to faith.
The devil tried to dissuade him, telling him not to kill his son, but Ibrahim responded by throwing rocks at him. This act is now repeated by pilgrims at Hajj who throw stones at symbolic pillars.
Just before Ibrahim went to carry out God's command, God replaced his son with a goat and told him to sacrifice the animal instead. Now Muslims celebrate Eid by eating the halal meat of a sacrificed animal.
When will it begin in the UAE?
Eid Al Adha will fall on the final days of July, but the exact date is yet to be determined.
Ibrahim Al Jarwan, a Sharjah-based member of the Arab Union for Astronomy and Space Sciences, told The National he expects Dhu Al Hijjah to begin on July 22. As Eid Al Adha falls on the 10th day of that month, this will correspond with July 31.
New months are declared after the crescent moon is officially sighted.
“The crescent of Dhu Al Hijjah 1441 will be born on Monday, July 20, at 9.33pm after sunset, and it will be seen on Tuesday evening," Mr Al Jarwan said.
"Wednesday, July 22, will mark the beginning of Dhu Al Hijjah and Friday, July 31, will be the first day of Eid Al Adha, according to astronomical calculations."
However, if the crescent moon is sighted on Monday night and Dhu Al Hijjah begins on Tuesday, Eid will instead be celebrated on July 30.
The final decision rests with the UAE government based on consultation with local Islamic authorities, who monitor the moon cycle to determine the beginning and end of months in the Hijri calendar.
How is it celebrated and how might things be different this year?
Eid is a time when families and friends come together to celebrate, usually over a meal.
The day begins with early Eid prayers at a mosque and it is customary for a family to have a goat or sheep butchered at an abattoir. The meat is typically shared between themselves, their relatives and the underprivileged.
Families and friends visit each other and wear new clothes. Eidieh - a gift of money during Eid - is given to children and sweets are served.
This year, because of the coronavirus outbreak, traditions will likely be put on hold. Family gatherings will be restricted to limit the spread of Covid-19.
During Eid Al Fitr, authorities advised against sharing food and giving children cash.
Places of worship opened to the public on July 1 but restrictions remain in place to keep worshippers safe.
Though mosques have reopened for the five daily prayers, authorities have said Friday prayers - which typically draw a larger crowd - are not yet allowed.
It is unclear if Eid prayers will be permitted or Muslims will instead be encouraged to be carry them out at home, as they did for Eid Al Fitr.
In the UAE, Eid Al Adha is celebrated with three to four days of public holiday for government and private sector workers. This will be announced by authorities closer to the time.
Previously, residents and Emiratis would travel during the holiday or visit hotels in the country for staycations. Hotel stays in some emirates will be possible this holiday but travel abroad, for some airlines, requires obtaining a special permit. Anyone who intends to fly into the UAE must provide a medical certificate indicating they are clear of Covid-19. The test must be conducted within 72 hours of travelling.
At present, residents who travel abroad must apply for a permit to return to the UAE, either with the Federal Authority for Identity and Citizenship or Dubai's General Directorate for Residency and Foreigners Affairs.
How does Hajj factor into this holiday?
Dhu Al Hijjah translates to 'the month of pilgrimage', which is fitting because it is the month when Muslims perform Hajj – a religious duty that must be carried out at least once in a lifetime by all Muslims who are physically capable and can afford it.
About 2.5 million pilgrims visit Makkah every year during Dhu Al Hijjah to perform Hajj but this will not be possible for most Muslims this year.
In March, Saudi Arabia authorities suspended the year-round Umrah pilgrimage because of the pandemic.
Last month, the kingdom announced that only “thousands” of people who already reside within the country would be allowed to take part in this year’s Hajj.
The measures are intended to prevent the spread of the coronavirus and comes after Saudi Arabia – and nations around the world – took drastic measures including lockdowns, travel restrictions, closing borders, closing venues and shutting schools, offices and universities to limit the spread.
Under normal circumstances, millions of Muslims travel to Makkah to perform Hajj, with many also travelling farther north to the city of Madinah.
The world's largest annual pilgrimage, Hajj requires the faithful to repeat a set of rituals first performed by the Prophet Mohammed centuries ago.
Though the ritual has been performed in its current form for more than 1,300 years, some of its elements go back to the time of the Prophet Ibrahim in 1813BC.
Hajj begins on the 8th day of Dhu Al Hijjah and lasts between four to six days, depending on the speed of the pilgrim.
Read more about Hajj here: the Islamic pilgrimage to Makkah explained
Pathaan
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Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
HEADLINE HERE
- I would recommend writing out the text in the body
- And then copy into this box
- It can be as long as you link
- But I recommend you use the bullet point function (see red square)
- Or try to keep the word count down
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- That's about it
RESULT
Leeds United 1 Manchester City 1
Leeds: Rodrigo (59')
Man City: Sterling (17')
Man of the Match: Rodrigo Moreno (Leeds)
Schedule
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Friday’s fixture
6.15pm: Al Wahda v Hatta
6.15pm: Al Dhafra v Ajman
9pm: Al Wasl v Baniyas
9pm: Fujairah v Sharjah
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Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 435hp at 5,900rpm
Torque: 520Nm at 1,800-5,500rpm
Transmission: 9-speed auto
Price: from Dh498,542
On sale: now
Results
1. New Zealand Daniel Meech – Fine (name of horse), Richard Gardner – Calisto, Bruce Goodin - Backatorps Danny V, Samantha McIntosh – Check In. Team total First round: 200.22; Second round: 201.75 – Penalties 12 (jump-off 40.16 seconds) Prize €64,000
2. Ireland Cameron Hanley – Aiyetoro, David Simpson – Keoki, Paul Kennedy – Cartown Danger Mouse, Shane Breen – Laith. Team total 200.25/202.84 – P 12 (jump-off 51.79 – P17) Prize €40,000
3. Italy Luca Maria Moneta – Connery, Luca Coata – Crandessa, Simone Coata – Dardonge, Natale Chiaudani – Almero. Team total 130.82/198.-4 – P20. Prize €32,000
Temple numbers
Expected completion: 2022
Height: 24 meters
Ground floor banquet hall: 370 square metres to accommodate about 750 people
Ground floor multipurpose hall: 92 square metres for up to 200 people
First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time
First floor terrace areas: 2,30 square metres
Temple will be spread over 6,900 square metres
Structure includes two basements, ground and first floor
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A list of the animal rescue organisations in the UAE
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 is safeguarding?
“Safeguarding, not just in sport, but in all walks of life, is making sure that policies are put in place that make sure your child is safe; when they attend a football club, a tennis club, that there are welfare officers at clubs who are qualified to a standard to make sure your child is safe in that environment,” Derek Bell explains.
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
Intercontinental Cup
Namibia v UAE Saturday Sep 16-Tuesday Sep 19
Table 1 Ireland, 89 points; 2 Afghanistan, 81; 3 Netherlands, 52; 4 Papua New Guinea, 40; 5 Hong Kong, 39; 6 Scotland, 37; 7 UAE, 27; 8 Namibia, 27
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
Company%20profile
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The specs: 2018 Jaguar F-Type Convertible
Price, base / as tested: Dh283,080 / Dh318,465
Engine: 2.0-litre inline four-cylinder
Transmission: Eight-speed automatic
Power: 295hp @ 5,500rpm
Torque: 400Nm @ 1,500rpm
Fuel economy, combined: 7.2L / 100km
ESSENTIALS
The flights
Etihad (etihad.com) flies from Abu Dhabi to Mykonos, with a flight change to its partner airline Olympic Air in Athens. Return flights cost from Dh4,105 per person, including taxes.
Where to stay
The modern-art-filled Ambassador hotel (myconianambassador.gr) is 15 minutes outside Mykonos Town on a hillside 500 metres from the Platis Gialos Beach, with a bus into town every 30 minutes (a taxi costs €15 [Dh66]). The Nammos and Scorpios beach clubs are a 10- to 20-minute walk (or water-taxi ride) away. All 70 rooms have a large balcony, many with a Jacuzzi, and of the 15 suites, five have a plunge pool. There’s also a private eight-bedroom villa. Double rooms cost from €240 (Dh1,063) including breakfast, out of season, and from €595 (Dh2,636) in July/August.
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Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
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UAE and Russia in numbers
UAE-Russia ties stretch back 48 years
Trade between the UAE and Russia reached Dh12.5 bn in 2018
More than 3,000 Russian companies are registered in the UAE
Around 40,000 Russians live in the UAE
The number of Russian tourists travelling to the UAE will increase to 12 percent to reach 1.6 million in 2023
How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
