Latest news with #emirates
Khaleej Times
09-07-2025
- Business
- Khaleej Times
UAE: New initiative to teach Emirati kids financial literacy amid rising consumerism
The UAE has launched its first community-based financial literacy programme, taking money management education directly to children and teenagers aged 9-15 through local councils. This innovative approach prioritises cultural familiarity over traditional classroom settings. The "Your Money, Your Dignity" programme, delivered by the National Financial Wellbeing and Sustainability Initiative Zoud in partnership with Majalis Abu Dhabi, runs weekly workshops from today, July 9, to August 29 across six community councils, welcoming citizens and residents to participate in this initiative. The programme marks a significant departure from conventional financial education models by utilising 'majalis' traditional community councils as learning venues. "Majalis are located in the heart of the community physically and socially," said Dr Maha Al Mansoori, Education Associate Director at Zoud. "As we celebrate the Year of Community, these spaces represent unique environments where generations gather, trust is built, and knowledge is naturally exchanged." The initiative addresses growing concerns about youth financial preparedness amid rising consumerism and digital transactions. Workshop content is carefully tailored to each age group using OECD frameworks while remaining highly localised to UAE contexts and real-life situations faced by young people in the emirates. Children aged 9-12 explore fundamental concepts including saving, budgeting, and distinguishing needs from wants, while teenagers aged 13-15 delve into more complex topics such as long-term financial planning and ethical earning principles. The culturally resonant programme name reflects the core belief that financial responsibility is a source of pride and integrity. Salem Al Shamsi, Community Director, emphasised the cultural advantage, "Unlike formal settings like schools, majalis foster more personal and intergenerational learning experiences, making the message of financial literacy more relatable and impactful." The workshops span locations from Al Reef to Al Tawiyah, with morning sessions typically running from 10am to 12pm, though some afternoon slots accommodate varying community schedules. Each session requires QR code registration due to limited seating capacity and overwhelming interest from parents. Looking ahead, Zoud plans to expand the initiative throughout all seven emirates and evolve current formats to ensure that financial well-being remains a cornerstone of sustainable development in the UAE.
TimesLIVE
05-06-2025
- Entertainment
- TimesLIVE
Djokovic downs Zverev to set up French semi against top seed Sinner
Three-time champion Novak Djokovic kept up his quest for a record-breaking 25th Grand Slam title, battling past third seed Alexander Zverev 4-6 6-3 6-2 6-4 on Wednesday, to set up a French Open semifinal against top seed Jannik Sinner. The 38-year-old Serbian notched his 101st victory at Roland Garros, site of his Olympic gold medal victory last year at the Paris Games, after three hours and 17 minutes. Former world number one Djokovic is just two matches away from becoming the first player, male or female, to win 25 Grand Slam singles trophies. Earlier on Wednesday Sinner booked his spot in the last four with a straight-sets win over Kazakh Alexander Bublik. Novak Djokovic's on-court interview after reaching his 51st Grand Slam semi-final 🎙️ #RolandGarros — Roland-Garros (@rolandgarros) June 4, 2025 'Obviously there was a lot of tension, pressure but it is normal when you play against Zverev, one of the best in the world, in the last five-six years,' Djokovic said in a post-match interview. 'My game is based on a lot of running. I am 38 years old, it is not easy to keep running like that but, OK, it works.' 'A match like the one this evening is the biggest reason I continue playing and competing at this level,' he said. Zverev, last year's finalist who is still searching for a maiden Grand Slam title, started out strongly and broke Djokovic in the very first game. ✨ Another masterclass from Djokovic headlines our highlights of the day by @emirates. #Emirates #FlyBetter — Roland-Garros (@rolandgarros) June 4, 2025 Attempting to join the Serb, Rafael Nadal and Roger Federer as the only men in the Open Era to reach French Open semifinals in five consecutive years, the German held on to that advantage to earn the first set. Knowing he could not match his 28-year-old opponent for fitness, Djokovic tried to keep the rallies as short as possible, playing more and more drop shots — 35 in total — to force the tall Zverev to the net. Djokovic broke his opponent at 2-1 in the second set and was quickly 4-1 up before Zverev had any time to react. He secured the second set with yet another drop shot. The veteran then broke Zverev twice more to bag the third set with his opponent running out of steam, lacking accuracy and having no clear plan B. Another break at the very start of the fourth set put Djokovic 2-0 up and firmly on the winning track before he wrapped it up on his fifth match point to reach a record-extending 51st Grand Slam semifinal.
TimesLIVE
04-06-2025
- Entertainment
- TimesLIVE
Alcaraz inspired by rival Sinner for ruthless Roland Garros win
Defending French Open champion Carlos Alcaraz drew inspiration from his main rival and world number one Jannik Sinner to race past Tommy Paul in 94 minutes and reach the Roland Garros semifinals on Tuesday. Alcaraz gave a masterclass in attacking tennis to win the opening two sets in under an hour and overwhelmed the American 12th seed for a 6-0 6-1 6-4 win and a meeting with Italian Lorenzo Musetti. The Spanish second seed's ruthless display came a day after Sinner beat Andrey Rublev in three sets to continue his devastating form at the year's second Grand Slam. 'I love to watch matches on my days off, and yeah, let's say he inspires me in some way just to give my 100% in every match,' Alcaraz told reporters. 'He sees how important it is to play at such a great level in the whole match, just to have more time to recover after the match. So I'm just trying to do it as well. "I could close my eyes and everything went in." 😁 Alcaraz's on-court interview following his win over Paul 🎤 #RolandGarros — Roland-Garros (@rolandgarros) June 3, 2025 'But for me, it's great to have tennis. I love Grand Slams for that because on my days off, I have great matches to watch and get inspired by watching them.' Alcaraz beat Musetti in the Monte Carlo final and the Rome semifinal en route to the title but expected a tough test when they face off again in Paris. 'It's going to be a beautiful battle, a beautiful match,' Alcaraz added. 'I think we're both playing great tennis. Monte Carlo final, semis in Rome, so it's going to be great for the people to watch as well. I have to be ready for that match.' Alcaraz continued his title defence with a display of breathtaking brutality. The second seed has searched in vain for his usual sublime form on Parisian clay this year, needing four sets in his last three matches to dismiss determined opponents, but he had no trouble on a balmy evening on Court Philippe Chatrier. What an amazing day of tennis, check out the best moments presented by @emirates ✈️ #RolandGarros — Roland-Garros (@rolandgarros) June 3, 2025 'It was like I could close my eyes and everything went in,' Alcaraz said in his on-court interview. 'My feeling was unbelievable, I tried to hit my shots at 100% — today was just one of those matches where everything went in. 'We were in the quarterfinals of Roland Garros and these matches aren't easy. I've lost to him twice and against Tommy, matches are very difficult. That helped me focus on my tennis and try not to go down or let him get into the match.' The Spaniard motored through the opening set without dropping a game and grabbed his fourth break early in the second set after sparing Paul the ignominy of another bagel and the 22-year-old pulled further away to double his lead in only 53 minutes. He glided across the red clay while delivering punishing shots, knocking the racket out of Paul's hands at one point with a thunderous effort, before finally facing some resistance in the third set. Former junior French Open champion Paul stayed level with Alcaraz until 4-4 but soon faded away and the holder closed out the victory.
Zawya
02-06-2025
- Business
- Zawya
PureHealth expands Daman's services with entry into Property, Casualty insurance market
PureHealth on Monday announced the strategic expansion of its insurance arm, Daman, marking its transformation from a health-focused provider into a comprehensive, multi-line insurer with entry into the high-growth Property and Casualty (P&C) segment. As part of this evolution, Daman will adopt a new legal name: The National Insurance Company – Daman, reflecting its broadened scope and strengthened position within the UAE's dynamic insurance landscape. The transition reflects Daman's broader mission to meet the evolving protection needs of individuals and businesses across the emirates by offering them a broader suite of insurance services. Shaista Asif, Group Chief Executive Officer of PureHealth, stated, 'Daman's evolution reflects PureHealth's broader strategy to create a fully integrated healthcare and insurance platform that drives better customer service and long-term value creation. Expanding into the Property and Casualty segment enhances portfolio diversification, supports risk management across sectors, and reinforces our commitment to shaping a future-ready ecosystem aligned with the UAE's economic and social development priorities.' Khaled Binshaiban Almheiri, Chairman of The National Insurance Company – Daman, commented, 'For nearly two decades, Daman has set the benchmark for health insurance in the UAE. This evolution marks a pivotal chapter – expanding our focus to offer a broader range of insurance solutions while maintaining the same rigour, trust and customer-first mindset our members know and value.' Daman currently provides health coverage to more than three million members across a network of over 3,000 healthcare providers in the UAE. As per the Central Bank of the UAE (CBUAE), the total number of written insurance policies for all types of insurance within the UAE increased to 14.6 million policies year-on-year in 2023, compared to 8.4 million policies in 2022, due to a higher number of property and liability insurance policies. The UAE's P&C insurance market is poised for further accelerated growth, which is projected to reach nearly US$16.8 billion by 2031, according to Verified Market Research. The company will continue to operate under the well-established Daman brand, introducing new P&C products in phases while ensuring uninterrupted service for existing members. Daman was named the best perceived health insurance brand in the UAE, according to the UAE Healthcare 2024 report from Brand Finance – a recognition that reflects its commitment to excellence and mission to cultivate a healthier community.
Zawya
29-05-2025
- Business
- Zawya
FTA holds awareness workshop in Dubai on corporate tax rules highlighting penalty waiver for timely registration
Registrants seeking to benefit from the initiative to exempt from late registration fines for corporate tax are required to submit their returns within 7 months of the end of the first tax period Dubai: As part of its continuing campaign to raise awareness of corporate tax among business sectors and taxpayers, the Federal Tax Authority (FTA) held a workshop in Dubai today on 'Rules for Determining Income Subject to Corporate Tax'. This new workshop comes as part of FTA's efforts to inform and educate eligible taxpayers of their obligations and payment procedures, as well as to encourage an environment of voluntarily compliance with the corporate tax law, which came into effect two years ago. The FTA also announced that six more, in-person workshops are planned for the remainder of 2025, as the Authority's nationwide campaign gathers pace and is set to include a large number of events and workshops – via remote videoconferencing or in-person formats – in all seven of emirates that make up the UAE. The FTA further emphasised that the campaign is designed to address various tax topics, so as to disseminate knowledge of relevant legislation, requirements and procedures for a thorough understanding of corporate tax compliance. To date, the campaign has utilised tailored and targeted programmes to meet the needs of each of the key groups concerned. This ensures that taxpayers have straightforward access to all the relevant and necessary information. Additionally, the campaign seeks to support and encourage the business community to implement the corporate tax law efficiently and accurately. Today's workshop, held in Dubai, had a strong turnout and active participation from the attendees with approximately 940 representatives of businesses, several government entities and stakeholders present. As hosts of this in-person event, FTA representatives provided a comprehensive explanation of the general principles of corporate tax and the importance of voluntary compliance with tax legislation. Within the framework of the campaign, started in phases from 2024, the Federal Tax Authority (FTA) has regularly issued advisories to unregistered corporate taxpayers to expedite the submission of their corporate tax registration applications. Most recently, this includes an update to take advantage of the UAE Cabinet Decision to waive the administrative penalties resulting from the late submission of registration applications, within the specified legal period. Using the platform of the workshop, the FTA again took to opportunity to call on corporate taxpayers (or exempt persons required to register) who have registered for tax to benefit from the initiative to submit their tax returns (or annual declarations) within a period not exceeding seven months from the end of the registrant's first tax period. This is the stipulated period in order to qualify for the exemption from the penalty, in accordance with the Cabinet Decision. FTA representatives again clarified that to benefit from the exemption, taxpayers must file the tax return (or annual declaration) within a period not exceeding seven months from the end of the tax period. However, this only applies to the legal or natural person's first tax period (or the exempted person required to register), regardless of whether the due date of the first tax return (or the first annual declaration) is before or after the implementation of the new decision. Today's workshop agenda covered a range of topics including how to determine income subject to corporate tax, as well as considerations that must be undertaken in the determination and calculation of tax due, the accounting standards applied for corporate tax purposes, the financial statements determined in accordance with the accounting standards applied by the taxpayer, and the basis of accounting accrual under which the taxpayer recognises income when it is earned and expenses when they are incurred. Other elements to be taken into account include the definition of financial assets and financial liabilities, the method of accounting for equity as defined in IFRS, the method of accounting in accordance with the accounting standards applied by the taxpayer, and the cost method of accounting. Information was also provided in relation to explaining the Corporate Tax Law and its associated decisions, requirements for compliance with the law, registration procedures through EmaraTax digital tax services platform, the criteria for determining taxable persons, applicable rates and tax periods, and the mechanism for applying the provisions of the Corporate Tax Law. The FTA continues to invite those subject to corporate tax to familiarise themselves with the Corporate Tax Law, executive decisions and guides related to the law through the Authority's website, by following the link: About Federal Tax Authority The Federal Tax Authority was established by Federal Decree-Law No. (13) of 2016 to help diversify the national economy and increase non-oil revenues in the UAE through the management and collection of federal taxes based on international best practices and standards, as well as to provide all means of support to enable taxpayers to comply with the tax laws and procedures. Since its inception in 2017, the FTA has been committed to cooperate with the competent authorities to establish a comprehensive and balanced system to make the UAE one of the first countries in the world to implement a fully electronic tax system that encourages voluntary compliance, with simple procedures based on the highest standards of transparency and accuracy – beginning from registration, to the submission of tax returns, to the payment of due taxes through the Authority's website:
