US refusal of WTO trade judge could cripple arbitration system

• Americans living abroad file taxes with the Internal Revenue Service, which can cost hundreds of dollars to complete even though about 60 per cent do not owe taxes, according to the Taxpayer Advocate Service
• Those obligations apply to millions of Americans residing overseas – estimates range from 3.9 million to 5.5 million – including so-called "accidental Americans" who are unaware they hold dual citizenship
• The double taxation policy has been a contentious issue for decades, with many overseas Americans feeling that it punishes them for pursuing opportunities abroad
• Unlike most countries, the US follows a citizenship-based taxation system, meaning that Americans must file taxes annually, even if they do not earn any income in the US.

Voices: How A Great Singer Can Change Your Life
Nick Coleman
Jonathan Cape

Donate towards food and a flight by transferring money to this registered charity's account.

Account name: Dar Al Ber Society

Account Number: 11 530 734

IBAN: AE 9805 000 000 000 11 530 734

Bank Name: Abu Dhabi Islamic Bank

To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae

National Editorial: Suleimani has been killed, now we must de-escalate

Jack Moore: Why the assassination is such a monumental gamble

Matthew Levitt: Iran retains its ability to launch terror attacks

Damien McElroy: A CEO tasked with spreading Iran's influence

Hussein Ibish: Trump's order on solid constitutional ground

Simon Waldman: Cautious Israel keeping a low profile

Falcon demand driving region's bird smuggling trade

UAE ranks high for animal trafficking as smugglers target Dubai International Airport, report finds

Tomorrow 2021: Abu Dhabi business leaders predict a stronger 2019

The UAE explained: What are the new plans for the economy and why do we need them?

Abu Dhabi's plans to liberalise the economy are progressing fast - but how are other countries planning for post-oil?

UAE-wide visa changes: Expats imagine life after work in the UAE

Is the UAE's new five-year visa a game changer for expat retirement?

Date of launch: 2014

Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer

Based: Media City, Dubai 

Sector: Financial services

Size: 120 employees

Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)

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

In an October survey of young adults aged 16 to 25, Charles Schwab found young women are more driven to reach financial independence than young men (67 per cent versus. 58 per cent). They are more likely to take on extra work to make ends meet and see more value than men in creating a plan to achieve their financial goals. Yet, despite all these good ‘first’ measures, they are investing and saving less than young men – falling early into the financial gender gap.

While the women surveyed report spending 36 per cent less than men, they have far less savings than men ($1,267 versus $2,000) – a nearly 60 per cent difference.

In addition, twice as many young men as women say they would invest spare cash, and almost twice as many young men as women report having investment accounts (though most young adults do not invest at all). 

“Despite their good intentions, young women start to fall behind their male counterparts in savings and investing early on in life,” said Carrie Schwab-Pomerantz, senior vice president, Charles Schwab. “They start off showing a strong financial planning mindset, but there is still room for further education when it comes to managing their day-to-day finances.”

Ms Schwab-Pomerantz says parents should be conveying the same messages to boys and girls about money, but should tailor those conversations based on the individual and gender.

"Our study shows that while boys are spending more than girls, they also are saving more. Have open and honest conversations with your daughters about the wage and savings gap," she said. "Teach kids about the importance of investing – especially girls, who as we see in this study, aren’t investing as much. Part of being financially prepared is learning to make the most of your money, and that means investing early and consistently."

Director: Mowaffaq Alobaid 

Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani

Rating: 4/5

• 2018: Formal work begins
• November 2021: First 17 volumes launched 
• November 2022: Additional 19 volumes released
• October 2023: Another 31 volumes released
• November 2024: All 127 volumes completed

Goalkeepers: Jordan Pickford, Nick Pope, Aaron Ramsdale 

Defenders: Trent Alexander-Arnold, Conor Coady, Marc Guehi, Reece James, Harry Maguire, Tyrone Mings, Luke Shaw, John Stones, Ben White

Midfielders: Jude Bellingham, Conor Gallagher, Mason Mount, Jordan Henderson, Declan Rice, James Ward-Prowse

Forwards: Tammy Abraham, Phil Foden, Jack Grealish, Harry Kane, Bukayo Saka, Emile Smith Rowe, Raheem Sterling

Meet the Saudi citizens for whom the UAE is a home from home

Cryptocurrency Investing  for Dummies – by Kiana Danial 

There are several primers for investing in cryptocurrencies available online, including e-books written by people whose credentials fall apart on the second page of your preferred search engine. 

Ms Danial is a finance coach and former currency analyst who writes for Nasdaq. Her broad-strokes primer (2019) breaks down investing in cryptocurrency into baby steps, while explaining the terms and technologies involved.

Although cryptocurrencies are a fast evolving world, this  book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.

Begin your cryptocurrency journey here. 

Available at Magrudy’s , Dh104 

• Golden circle - Dh995
• Floor Standing - Dh495
• Lower Bowl Platinum - Dh95
• Lower Bowl premium - Dh795
• Lower Bowl Plus - Dh695
• Lower Bowl Standard- Dh595
• Upper Bowl Premium - Dh395
• Upper Bowl standard - Dh295

Produced: Sajid Nadiadwala and Phantom Productions
Directed: Vikas Bahl
Cast: Hrithik Roshan, Pankaj Tripathi, Aditya Srivastav, Mrinal Thakur
Rating: 3.5 /5

Western Region Asia Cup Qualifier, Al Amerat, Oman

The two finalists advance to the next stage of qualifying, in Malaysia in August

Results

UAE beat Iran by 10 wickets

Kuwait beat Saudi Arabia by eight wickets

Oman beat Bahrain by nine wickets

Qatar beat Maldives by 106 runs

Monday fixtures

UAE v Kuwait, Iran v Saudi Arabia, Oman v Qatar, Maldives v Bahrain

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

National Editorial: Suleimani has been killed, now we must de-escalate

Mina Al Oraibi: Air strike casts a long shadow over the decade ahead

Jack Moore: Why the assassination is such a monumental gamble

Damien McElroy: A CEO tasked with spreading Iran's influence

Hussein Ibish: Trump's order on solid constitutional ground

Simon Waldman: Cautious Israel keeping a low profile

December 11: 'My husband died, so what happens to the Dh240,000 he owes in the UAE?'

JL, a housewife from India, wrote to us about her husband, who died earlier this month. He left behind an outstanding loan of Dh240,000 and she was hoping to pay it off with an insurance policy he had taken out. She also wanted to recover some of her husband’s end-of-service liabilities to help support her and her son.

“I have no words to thank you for helping me out,” she wrote to The Debt Panel after receiving the panellists' comments. “The advice has given me an idea of the present status of the loan and how to take it up further. I will draft a letter and send it to the email ID on the bank’s website along with the death certificate. I hope and pray to find a way out of this.”

November 26:  ‘I owe Dh100,000 because my employer has not paid me for a year’

SL, a financial services employee from India, left the UAE in June after quitting his job because his employer had not paid him since November 2018. He owes Dh103,800 on four debts and was told by the panellists he may be able to use the insolvency law to solve his issue. 

SL thanked the panellists for their efforts. "Indeed, I have some clarity on the consequence of the case and the next steps to take regarding my situation," he says. "Hopefully, I will be able to provide a positive testimony soon."

October 15: 'I lost my job and left the UAE owing Dh71,000. Can I return?'

MS, an energy sector employee from South Africa, left the UAE in August after losing his Dh12,000 job. He was struggling to meet the repayments while securing a new position in the UAE and feared he would be detained if he returned. He has now secured a new job and will return to the Emirates this month.

“The insolvency law is indeed a relief to hear,” he says. "I will not apply for insolvency at this stage. I have been able to pay something towards my loan and credit card. As it stands, I only have a one-month deficit, which I will be able to recover by the end of December." 

What is a credit score?

In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.

Why is it important?

Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.

How is it calculated?

The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.

How can I improve my score?

By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.

How do I know if my score is low or high?

By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.

How much does it cost?

A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.