Catherine Cortez Masto won the US Senate election in Nevada to give the Democratic Party a total of 50 seats in the 100-member chamber. AFP
Catherine Cortez Masto won the US Senate election in Nevada to give the Democratic Party a total of 50 seats in the 100-member chamber. AFP
Catherine Cortez Masto won the US Senate election in Nevada to give the Democratic Party a total of 50 seats in the 100-member chamber. AFP
Catherine Cortez Masto won the US Senate election in Nevada to give the Democratic Party a total of 50 seats in the 100-member chamber. AFP

US Democrats keep control of Senate with win in Nevada


  • English
  • Arabic

Democrats kept control of the US Senate on Saturday, repelling Republican efforts to retake the chamber and making it harder for them to thwart President Joe Biden’s agenda.

The outcome of the midterm elections in the House of Representatives was still uncertain as the Republicans struggled to pull together a slim majority there.

Catherine Cortez Masto’s victory in Nevada gave the Democrats the 50 seats they needed to keep the 100-member Senate.

Her win reflects the surprising strength of Democrats across the US in the election. Seeking re-election in an economically challenged state that has some of the highest fuel prices in the nation, Ms Cortez Masto was considered the Senate’s most vulnerable member, adding to the frustration of Republicans who were confident she could be defeated.

  • US Vice President Kamala Harris speaks at a Democrat rally in Washington, as President Joe Biden and their spouses Jill Biden and Doug Emhoff listen. Bloomberg
    US Vice President Kamala Harris speaks at a Democrat rally in Washington, as President Joe Biden and their spouses Jill Biden and Doug Emhoff listen. Bloomberg
  • Bill Gates, chairman of the Maricopa County Board of Supervisors, speaks at the Maricopa County Tabulation and Election Centre in Phoenix, Arizona. Former astronaut and Democratic candidate Mark Kelly defeated his Republican rival in Arizona's senate race. Reuters
    Bill Gates, chairman of the Maricopa County Board of Supervisors, speaks at the Maricopa County Tabulation and Election Centre in Phoenix, Arizona. Former astronaut and Democratic candidate Mark Kelly defeated his Republican rival in Arizona's senate race. Reuters
  • Maricopa County recorder Stephen Richer, left, opens mail-in ballots at the Maricopa County Tabulation and Election Centre in Phoenix, Arizona. Ballots were being counted in Maricopa County three days after voters went to the polls for the midterm election in Arizona. AFP
    Maricopa County recorder Stephen Richer, left, opens mail-in ballots at the Maricopa County Tabulation and Election Centre in Phoenix, Arizona. Ballots were being counted in Maricopa County three days after voters went to the polls for the midterm election in Arizona. AFP
  • Election workers open mail-in ballots at the Maricopa County Tabulation and Election Centre in Phoenix, Arizona. AFP
    Election workers open mail-in ballots at the Maricopa County Tabulation and Election Centre in Phoenix, Arizona. AFP
  • Staff scan ballots for the US midterm elections at the Maricopa County Tabulation and Election Centre in Phoenix, Arizona. Reuters
    Staff scan ballots for the US midterm elections at the Maricopa County Tabulation and Election Centre in Phoenix, Arizona. Reuters
  • Election workers open mail-in ballots at the Maricopa County Tabulation and Election Centre in Phoenix, Arizona. AFP
    Election workers open mail-in ballots at the Maricopa County Tabulation and Election Centre in Phoenix, Arizona. AFP
  • In a divided America, a political campaign sign sits abandoned at the roadside in Phoenix, Arizona, two days after the midterms. AFP
    In a divided America, a political campaign sign sits abandoned at the roadside in Phoenix, Arizona, two days after the midterms. AFP
  • Ballots are processed in Las Vegas. Getty Images
    Ballots are processed in Las Vegas. Getty Images
  • Election officials give a press conference in Maricopa County, Arizona, where ballots were still being counted two days after the midterms. AFP
    Election officials give a press conference in Maricopa County, Arizona, where ballots were still being counted two days after the midterms. AFP
  • Ballots are carried to be scanned in Philadelphia. Reuters
    Ballots are carried to be scanned in Philadelphia. Reuters
  • Mr Biden was all smiles during a news conference in the White House. Bloomberg
    Mr Biden was all smiles during a news conference in the White House. Bloomberg
  • An election worker sorts ballots in Las Vegas. AFP
    An election worker sorts ballots in Las Vegas. AFP
  • Election workers sort ballots at the Maricopa County Tabulation and Election Centre. AFP
    Election workers sort ballots at the Maricopa County Tabulation and Election Centre. AFP
  • Georgia Secretary of State Brad Raffensperger holds a news conference in Atlanta. AP
    Georgia Secretary of State Brad Raffensperger holds a news conference in Atlanta. AP
  • Los Angeles mayoral candidate Rick Caruso gets a hug on stage at his election night headquarters in Los Angeles. AP
    Los Angeles mayoral candidate Rick Caruso gets a hug on stage at his election night headquarters in Los Angeles. AP
  • Paul Riley, father of Josh Riley, bows his head as election results come in at his son's election party in Binghamton, New York. Josh Riley, the Democratic candidate, ran against Republican Marc Molinaro. AP
    Paul Riley, father of Josh Riley, bows his head as election results come in at his son's election party in Binghamton, New York. Josh Riley, the Democratic candidate, ran against Republican Marc Molinaro. AP
  • Michigan Democratic Governor Gretchen Whitmer speaks during election night in Detroit. AP
    Michigan Democratic Governor Gretchen Whitmer speaks during election night in Detroit. AP
  • Supporters cheer during an election night event for Democratic Senate candidate John Fetterman in Pittsburgh, Pennsylvania. Mr Fetterman defeated Republican Senate candidate Dr Mehmet Oz. AFP
    Supporters cheer during an election night event for Democratic Senate candidate John Fetterman in Pittsburgh, Pennsylvania. Mr Fetterman defeated Republican Senate candidate Dr Mehmet Oz. AFP
  • Supporters watch news of a projected victory for Democratic candidate for Pennsylvania governor, Josh Shapiro, in Pittsburgh, Pennsylvania. Reuters
    Supporters watch news of a projected victory for Democratic candidate for Pennsylvania governor, Josh Shapiro, in Pittsburgh, Pennsylvania. Reuters
  • Republican J D Vance arrives with his wife Usha to declare victory in the Senatorial race in Columbus, Ohio. Reuters
    Republican J D Vance arrives with his wife Usha to declare victory in the Senatorial race in Columbus, Ohio. Reuters
  • New York Governor Kathy Hochul attends an event to celebrate her victory in the US midterm elections. Reuters
    New York Governor Kathy Hochul attends an event to celebrate her victory in the US midterm elections. Reuters
  • Representative Abigail Spanberger, of the Democratic party, speaks to supporters after her re-election, in Fredericksburg, Virginia. AP
    Representative Abigail Spanberger, of the Democratic party, speaks to supporters after her re-election, in Fredericksburg, Virginia. AP
  • Democrat Wes Moore, second from left, hugs his daughter, Mia, centre, as his mother, Joy Thomas Moore, left, son, Jamie, second from right, and wife, Dawn, look on, after he was declared the winner of the Maryland race for governor. AP
    Democrat Wes Moore, second from left, hugs his daughter, Mia, centre, as his mother, Joy Thomas Moore, left, son, Jamie, second from right, and wife, Dawn, look on, after he was declared the winner of the Maryland race for governor. AP
  • A supporter of Republican candidate Lee Zeldin reacts as media outlets predict results, in the race for governor, in favour of Democratic incumbent Kathy Hochul. AP
    A supporter of Republican candidate Lee Zeldin reacts as media outlets predict results, in the race for governor, in favour of Democratic incumbent Kathy Hochul. AP
  • Oklahoma Governor Kevin Stitt celebrates his re-election, at a Republican Party watch party in Oklahoma City. AP
    Oklahoma Governor Kevin Stitt celebrates his re-election, at a Republican Party watch party in Oklahoma City. AP
  • Democratic candidate for governor of Georgia Stacey Abrams speaks during her 2022 US midterm elections night party in Atlanta, Georgia. Her rival Brian Kemp won. Reuters
    Democratic candidate for governor of Georgia Stacey Abrams speaks during her 2022 US midterm elections night party in Atlanta, Georgia. Her rival Brian Kemp won. Reuters
  • A woman arrives before Florida's Republican Governor Ron DeSantis speaks to supporters during an election night party in Tampa. AP
    A woman arrives before Florida's Republican Governor Ron DeSantis speaks to supporters during an election night party in Tampa. AP
  • Voters wait in line at a polling station at the Lyndon B. Johnson School of Public Affairs in Austin, Texas. AP
    Voters wait in line at a polling station at the Lyndon B. Johnson School of Public Affairs in Austin, Texas. AP
  • A voter goes to cast their vote after filling out their ballot at a polling station inside The Shed arts centre in Manhattan. AP
    A voter goes to cast their vote after filling out their ballot at a polling station inside The Shed arts centre in Manhattan. AP
  • A jogger runs past the Capitol Building in Washington. The US midterm elections are held every four years at the midpoint of each presidential term. EPA
    A jogger runs past the Capitol Building in Washington. The US midterm elections are held every four years at the midpoint of each presidential term. EPA
  • Florida's Republican Governor Ron DeSantis waves from the stage next to his wife Casey and children during his midterm elections party in Tampa. Reuters
    Florida's Republican Governor Ron DeSantis waves from the stage next to his wife Casey and children during his midterm elections party in Tampa. Reuters
  • A man in costume arrives for a Republican party 'Save America' rally before the US midterm elections, in Miami, Florida. AFP
    A man in costume arrives for a Republican party 'Save America' rally before the US midterm elections, in Miami, Florida. AFP
  • US President Joe Biden, centre, poses for a selfie with supporters during a rally for Democratic candidates, including New York Governor Kathy Hochul, at Sarah Lawrence College in Bronxville, New York. AFP
    US President Joe Biden, centre, poses for a selfie with supporters during a rally for Democratic candidates, including New York Governor Kathy Hochul, at Sarah Lawrence College in Bronxville, New York. AFP
  • A man marks his ballot during early voting in Lansing, Michigan. Reuters
    A man marks his ballot during early voting in Lansing, Michigan. Reuters
  • A child attends a rally held by US President Joe Biden with Democratic nominee for Maryland Governor Wes Moore, Senator Chris Van Hollen and other Maryland Democrats, at Bowie State University. Reuters
    A child attends a rally held by US President Joe Biden with Democratic nominee for Maryland Governor Wes Moore, Senator Chris Van Hollen and other Maryland Democrats, at Bowie State University. Reuters
  • Supporters cheer during a rally for Democratic candidates at Sarah Lawrence College in Bronxville, New York. AFP
    Supporters cheer during a rally for Democratic candidates at Sarah Lawrence College in Bronxville, New York. AFP
  • State Representative Leslie Rossi poses by a giant cutout of former US President Donald Trump in front of the "Trump House", which she owns and created in 2016, in Youngstown, Pennsylvania. AFP
    State Representative Leslie Rossi poses by a giant cutout of former US President Donald Trump in front of the "Trump House", which she owns and created in 2016, in Youngstown, Pennsylvania. AFP
  • Republican candidate for US Senate for Arizona Blake Masters speaks at a rally in Queen Creek, Arizona. EPA
    Republican candidate for US Senate for Arizona Blake Masters speaks at a rally in Queen Creek, Arizona. EPA
  • People in the crowd cheer during a campaign rally at Bowie State University in Maryland, which was attended President Joe Biden, the first lady, Jill Biden, Maryland Democratic gubernatorial candidate Wes Moore and Senator Chris Van Hollen. AP
    People in the crowd cheer during a campaign rally at Bowie State University in Maryland, which was attended President Joe Biden, the first lady, Jill Biden, Maryland Democratic gubernatorial candidate Wes Moore and Senator Chris Van Hollen. AP
  • Republican candidate for Arizona governor Kari Lake arrives for a campaign stop, in Phoenix. Reuters
    Republican candidate for Arizona governor Kari Lake arrives for a campaign stop, in Phoenix. Reuters
  • Morgan Koetje and Nickolas Lentz from Reproductive Freedom for All, canvass a neighborhood in support of Proposal 3, a ballot measure that would codify the right to an abortion, one day before the midterm election in Dewitt, Michigan. Reuters
    Morgan Koetje and Nickolas Lentz from Reproductive Freedom for All, canvass a neighborhood in support of Proposal 3, a ballot measure that would codify the right to an abortion, one day before the midterm election in Dewitt, Michigan. Reuters
  • Republican candidate for US Senate Herschel Walker takes a picture with supporters in Kennesaw, Georgia during a "Unite Georgia Bus Stop" campaign rally on the eve of the midterm elections. AFP
    Republican candidate for US Senate Herschel Walker takes a picture with supporters in Kennesaw, Georgia during a "Unite Georgia Bus Stop" campaign rally on the eve of the midterm elections. AFP
  • Republican Senate candidate Val Demings speaks to supporters in Wilton Manors, Florida. AP
    Republican Senate candidate Val Demings speaks to supporters in Wilton Manors, Florida. AP
  • Senate hopeful Mehmet Oz addresses campaign rally in Pennsburg, Pennsylvania. AP
    Senate hopeful Mehmet Oz addresses campaign rally in Pennsburg, Pennsylvania. AP
  • Former president Donald Trump speaks at a rally in support of the campaign of Ohio Senate candidate JD Vance, at Dayton International Airport. AP
    Former president Donald Trump speaks at a rally in support of the campaign of Ohio Senate candidate JD Vance, at Dayton International Airport. AP
  • President Joe Biden and first lady Jill Biden arrive for the rally at Bowie State University, in Maryland. AP
    President Joe Biden and first lady Jill Biden arrive for the rally at Bowie State University, in Maryland. AP
  • Voters pass by a sign outside a polling site in Warwick, Rhode Island after casting their ballots on the last day of early voting before the midterm election. AP
    Voters pass by a sign outside a polling site in Warwick, Rhode Island after casting their ballots on the last day of early voting before the midterm election. AP
  • Democratic candidate for Georgia governor Stacey Abrams speaks to volunteers during an election eve phone and text bank party in Atlanta. AP
    Democratic candidate for Georgia governor Stacey Abrams speaks to volunteers during an election eve phone and text bank party in Atlanta. AP
  • US Vice President Kamala Harris, left, points to Los Angeles mayoral candidate Representative Karen Bass, after speaking at a rally in Los Angeles. AP
    US Vice President Kamala Harris, left, points to Los Angeles mayoral candidate Representative Karen Bass, after speaking at a rally in Los Angeles. AP

“We got a lot done and we’ll do a lot more for the American people,” Senate majority leader Chuck Schumer said. “The American people rejected — soundly rejected — the anti-democratic, authoritarian, nasty and divisive direction the MAGA Republicans wanted to take our country.”

With the results in Nevada now decided, Georgia is the only state where both parties are still competing for a Senate seat. Democratic incumbent Raphael Warnock faces Republican challenger Herschel Walker in a December 6 run-off. Alaska’s Senate race has advanced to ranked choice voting, though the seat will stay in Republican hands.

Democratic control of the Senate ensures a smoother process for Mr Biden’s Cabinet appointments and judicial selections, including those for potential Supreme Court openings. The party will also keep control over committees and have the power to conduct investigations or oversight of the Biden administration, and will be able to reject legislation sent over by the House if the Republicans win that chamber.

If Democrats manage to pull off a win in the House, it would mean full control of Congress for the party — and another chance to advance Mr Biden’s priorities, which he has said include codifying abortion rights. The party still lacks the 60 votes in the Senate needed to move many major legislative changes.

The Senate fight had hinged on a handful of deeply contested seats. Both parties spent tens of millions of dollars in Pennsylvania, Arizona, Nevada and Georgia, the top battlegrounds where Democrats had hoped that the Republicans’ decision to nominate untested candidates — many backed by former president Donald Trump — would help them defy national headwinds.

Democrats scored a big win in Pennsylvania, where Lt Gov John Fetterman defeated celebrity heart surgeon Dr Mehmet Oz, who was endorsed by Mr Trump, to pick up a seat currently held by a Republican. Arizona Senator Mark Kelly won re-election by about 5 percentage points.

A closely divided swing state, Nevada is one of the most racially diverse in the nation, a working-class state whose residents have been especially hard-hit by inflation and other economic turmoil. About three quarters of Nevada voters said the country was headed in the wrong direction, and about half called the economy the most important issue facing the country, according to AP VoteCast, a survey of 2,100 of the state’s voters.

Heading into the midterm election, Republicans focused relentlessly on the economy, a top concern for many voters amid stubborn inflation and high fuel and food prices. The Republican party also attacked the Democrats on crime, a message that sometimes overstated the threat but nonetheless tapped into anxiety, particularly among the suburban voters who turned away from the party in 2018 and 2020. And they highlighted illegal border crossings, accusing Mr Biden and other Democrats of failing to protect the country.

We knew that the negativity, the nastiness, the condoning of Donald Trump’s big lie — and saying that the elections were rigged when there’s no proof of that at all — would hurt Republicans, not help them
Chuck Schumer,
Democrat Senate majority leader

But Democrats were buoyed by voters angry about the Supreme Court’s decision in June to overturn the constitutional right to an abortion. They also portrayed Republicans as too extreme and a threat to democracy, following the January 6 riot at the US Capitol and Mr Trump’s false claims — repeated by many party candidates — that the 2020 election was stolen from him.

Mr Schumer said Democratic candidates’ promises to defend abortion rights resonated with voters. He said the election results made him feel good about the country and its commitment to democracy.

“We knew that the negativity, the nastiness, the condoning of Donald Trump’s big lie — and saying that the elections were rigged when there’s no proof of that at all — would hurt Republicans, not help them,” he said. “But too many of them, and their candidates, fell into those traps.”

Referring to Mr Trump’s “Make America Great Again” slogan, Mr Schumer said voters had rejected “extremist MAGA Republicans”.

Nationally, VoteCast showed that seven out of 10 voters said the Supreme Court’s decision on Roe v Wade was an important factor in their midterm decisions. It also showed the reversal was broadly unpopular. And roughly six out of 10 said they favoured a law guaranteeing access to legal abortion nationwide.

Half of voters said inflation factored significantly in their vote, while 44 per cent said the future of democracy was their primary consideration.

Beyond Congress, Democrats won key governors’ races in Wisconsin, Michigan and Pennsylvania — battlegrounds critical to Mr Biden’s 2020 win over Mr Trump. Republicans, though, held the governors’ mansions in Florida, Texas and Georgia — another battleground state Mr Biden narrowly won two years ago.

Although the midterms failed to deliver Republican romps, Mr Trump remains a major factor in the party and plans to announce his third run for the presidency on Tuesday at his Mar-a-Lago estate in Florida — setting up a potential rematch for the White House with Mr Biden.

Company%20profile
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if you go

The flights 

Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning. 

The trains

Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.

The hotels

Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.

Red Sparrow

Dir: Francis Lawrence

Starring: Jennifer Lawrence, Joel Egerton, Charlotte Rampling, Jeremy Irons

Three stars

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
The biog

Favourite car: Ferrari

Likes the colour: Black

Best movie: Avatar

Academic qualifications: Bachelor’s degree in media production from the Higher Colleges of Technology and diploma in production from the New York Film Academy

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less

Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes. 
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com

The Dark Blue Winter Overcoat & Other Stories From the North
Edited and Introduced by Sjón and Ted Hodgkinson
Pushkin Press 

Water waste

In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.

Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.

A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.

The Emirates is the world’s third largest per capita water consumer after the US and Canada.

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

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

FIXTURES

All games 6pm UAE on Sunday: 
Arsenal v Watford
Burnley v Brighton
Chelsea v Wolves
Crystal Palace v Tottenham
Everton v Bournemouth
Leicester v Man United
Man City v Norwich
Newcastle v Liverpool
Southampton v Sheffield United
West Ham v Aston Villa

Tips%20for%20holiday%20homeowners
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The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Brief scores:

Toss: India, opted to field

Australia 158-4 (17 ov)

Maxwell 46, Lynn 37; Kuldeep 2-24

India 169-7 (17 ov)

Dhawan 76, Karthik 30; Zampa 2-22

Result: Australia won by 4 runs by D/L method

MATCH INFO

Austria 2
Hinteregger (53'), Schopf (69')

Germany 1
Ozil (11')

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

A cryptocurrency primer for beginners

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 

Results
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  • Daniel Bryan and Shane McMahon beat Kevin Owens and Sami Zayn
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  • Matt Hardy won the Andre the Giant Battle Royal

First Person
Richard Flanagan
Chatto & Windus 

Heather, the Totality
Matthew Weiner,
Canongate 

Destroyer

Director: Karyn Kusama

Cast: Nicole Kidman, Toby Kebbell, Sebastian Stan

Rating: 3/5 

UAE release: January 31 

Updated: November 13, 2022, 4:43 AM