Tag Archives: financial
Roads along Dubai Tour to be closed till February 8
Roads along Dubai Tour to be closed till February 8 Lily B. Libo-on / 6 February 2014 RTA is coordinating closely with the Dubai Police General Headquarters and Dubai Sports Council to ensure the best traffic movement and traffic safety for road users during the four-day race. Some of Dubai’s road entrances and exits will be closed for three hours every afternoon, and traffic controls will continue as part of the Dubai Tour until February 8, when the race ends at 3.30pm. The heavy traffic on both sides of Shaikh Zayed Road. Internal lanes leading up to First Interchange and The Dubai Mall bridge are clogged. — KT photo by Muaz Shabandri RTA is coordinating closely with the Dubai Police General Headquarters and Dubai Sports Council to ensure the best traffic movement and traffic safety for road users during the four-day race. “All road users are advised to exercise care and caution. RTA will close only some road entrances/exits and a part of some roads where participants will pass along in order to ensure the safety of the race track and the smooth flow of traffic, as well,” RTA said. 30 schools to remain closed today Muaz Shabandri Thirty private schools in Dubai will remain closed today as the city witnesses its first ever professional cycling race. Parents have been advised to check with schools to know about school closures or change in timings. Dubai’s Knowledge and Human Development Authority (KHDA) issued a communication to schools, allowing them to remain closed if needed. The 121km race on Thursday will force the closure of schools close to Oud Mehta Road, Meydan Road, Dubai-Al Ain road, Emirates Road, Al Sufouh road and Hessa Street. Hind Al Mualla, Chief of Engagement, KHDA said: “As a result of road closures, 31 schools have decided to close for the day. The decisions were made in consultation with parents, to protect the safety of children.” Guruswany Kalloor, CEO of JSS Schools Dubai said: “We already have fewer working days because of public holidays. Unplanned closures affect teaching schedules but we still took the decision to close for a day keeping in view the safety of our students and their convenience.” muaz@khaleejtimes.com List of Schools American School of Dubai Al Eman Private School Al Ittihad School – Al Mamzar Al Salaam Private School Al Thuraya Private School Arab Unity School Brandenton Preparatory Academy Choueifat School – Al Sofouh – from KG1- Grade 4 Dar Al Marefa Delhi Private School, Dubai Dubai Arab American School Dubai British School Dubai Gem Private School Dubai International School Dubai International Academy International Academic School Lycée Français International Georges Pompidou Lyceé Libanais Francophone Privé JSS International School Queen International School North American International School Pakistani Education Academy Regent School Russian International School Sabari Indian School Springdales School Dubai Star International School – Al Twar The Indian High School – Oud Metha The Indian International School – DSO Victoria’s Heights Primary School At the start of the race on Wednesday (Stage 1), RTA’s proposed traffic procedures were in place from Dubai World Trade Centre where the race started, right to Al Saada Street, along the Financial Centre Street and Shaikh Mohammed bin Rashid Boulevard before returning to the starting point at the Dubai World Trade Centre via Al Saada Street and the Financial Centre Street. Today, (Stage 2) the roads used by participants will close from 12.25pm to 3.30pm. The race starts from the Dubai World Trade Centre left to Al Saada Street then right along Za’abeel 2nd Street, Dubai-Al Ain Road passing along Oud Metha Street to Meydan Street, Dubai-Al Ain Road, Nad Al Sheba Street, Emirates Road, Al Qudra Road, Umm Suqeim Street, Hisa Street and along some internal streets in Motor City, Al Safouh Street towards JBR, then to JLT until the finish line at Jumeirah Palm after passing along the internal roads of Dubai Media City. On Friday (Stage 3), the roads will close from 11.30am to 3.30pm. The race starts from the Festival City, passes through Marrakeck Street to the Airport, Al Khawaneej Street across Al Khawaneej Bridge, Al Amardi and Al Awir Street, Emirates Road, Lehbab Road, Hatta Road, the finish line in Hatta through Sharjah Emirates (Al Madam and Melaiha) and Ras Al Khaimah Emirate (Shoka and Manna’ee). For Stage 4 (Saturday), the roads will close from 12.30pm to 3.30pm. The race starts from Al Saada Street and passes to Za’aabel 2nd Street, Shaikh Zayed Road along the Trade Centre Roundabout and then turn right to Umm Suqeim Street, 2nd of December Street, Jumeirah Street, Umm Harir Street, Al Karama Tunnel, Bani Yas Street, through Al Maktoum Bridge, Corniche Street and back to Bani Yas Street, Tariq bin Ziyad Street, through Al Maktoum Bridge, Khalid bin Al Waleed Street, and then turn right to Al Seef Street, Al Fuhaidi Street, Ali Ibn Abi Talib Street, Al Falah Street through Al Ghubaiba Street, Al Khaleej Street, and Al Mina Street, Jumeirah Street Al Uruba Street, Al Wasl Street, Al Safa Street and then to the finish line at the Mohammed bin Rashid Boulevard Street across the Financial Centre Street. lily@khaleejtimes.com For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading
RO PAC Alliance: Draft law concerning The Sale Of Farmland To Foreigners Is Land Expropriation
Monday, November 4, 2013 The RO PAC Alliances argues that the draft law concerning trade in farmland with foreigners suggested by the Agriculture Ministry is tantamount to land expropriation as trade is done mainly for real estate and energy purposes and in favour of European land speculators. ‘Foreigners already own in Romania, through registered companies, between 1 and 1.2 million hectares of land, but I have not seen any foreigner working the land so far. It is again the Romanian farmers who work the land and the foreigners cash in the subsidies coming from the EU. The output of these areas is not even included in the farm circuit, but most is spent on energy cultures. We want the subsidies to be awarded to support food production and to compensate for the losses of farmers who produce food instead of power. The over 1 million hectares already owned by foreigners are in documents, but I suspect some land has been bought without the transactions having been recorded, particularly in the south part of the country and in Moldavia, where there has been no land registry in place. After the law is implemented, the real disaster in the land market of Romania will come to light,’ says RO PAC Chairman Claudiu Franc, also chairman of the Federation of Romanian Cattle Farmers. He argues that the draft law concerning the sale of farm land should be discussed and analysed again and only drawn up after a serious consolation with those actually knowing the matter. Franc mentions the example of Poland, which limits the sale of land 100 km away from the national border, and the example of France, where the landowner is not allowed to do what he wants with the land because the land belongs to the national heritage. ‘Poland has limited the buying of land by foreigners within a radius of 100 km off the national border, arguing that this would be tantamount to a warless occupation of the country. In France, they say the land is the property of the French citizens but it belongs to the national heritage and means something to the French State, therefore not everything goes when it comes to land. Romania should require similar things so that it may be able to ensure food safety and security for the Romanian citizens,’ said Franc. The Confederation of Romania’s Peasant Associations (CATAR) and the RO PAC Alliance on Thursday organised at the Indagra agriculture and food trade fair in Bucharest a conference on a new agrarian paradigm in Romania. The RO PAC Alliance, of which CATAR is a member, represents the largest Romanian agricultural organisations, federations, confederations, leagues and forums that have developed their own version of a national rural development programme for 2014-2020. Continue reading
When Should You Use BPR To Plan For IHT?
By Tony Mudd on Monday, 7 October 2013 Business property relief isn’t the right tool for everyone planning their inheritance but it’s well worth a look to see whether you might benefit from it. It has occurred to me that anyone who read my previous article Beware Government Bearing Gifts may have been left with the view that investing in businesses that qualify for Business Property Relief (BPR) brings with it such inherent liquidity and investment risks as to make it an area to be avoided. To use an old and often quoted adage that it would be akin to letting the tax tail wag the investment dog. If this was indeed the case then it would only be appropriate to outline the counter arguments; specifically the value BPR qualifying investments outside of an Individual Savings Account (ISA) wrapper can have. It is the case that Alternative Investment Market (AIM) shares qualifying for BPR offer a narrower range of investment options than the wider BPR investments available outside of an ISA wrapper and by definition lower diversification and higher investment risk. However I am going to look here at the tax benefits and the type of investors or situations where this type of investment may be of particular relevance to make my point. To remind readers, investments qualifying for BPR provide the simple but straightforward benefit of being exempt from Inheritance Tax (IHT) once they have been held for two years provided they remain in the hands of the investor at the point they become chargeable ie lifetime gift into trust or on death. Elderly investors or those in poor health Many IHT solutions either require investors to survive a period of seven years or rely on them being able to arrange life assurance. For elderly investors or clients in poor health the fact that the planning involving BPR is effective within two years and/or does not require medicals can be of significant value. Attorneys and deputies Where an investor loses mental capacity their financial affairs will either be dealt with by an attorney or deputy. In these circumstances due to the limitations imposed in relation to lifetime gifts (with the possible exception of Continuing Powers of Attorney in Scotland), the ability for the attorney to invest in the individual’s own hands in a BPR qualifying investment may be the only inheritance tax planning option available. Existing trusts Where the existence of trust assets will trigger a liability to IHT the selection of BPR assets as a trust investment can provide significant tax planning benefits. A liability to IHT could arise in respect of Interest in Possession Trusts or Immediate Post Death Interest Trusts on the death of a beneficiary or in respect of Discretionary Trusts for periodic (10 yearly) charges. Business owners Many investors who also run their own business will be well aware that the business itself offers the perfect shelter from IHT. The reason for this is that the business, assuming it is a trading entity, will qualify for BPR. However if and when the business is ultimately sold the protection from IHT will be lost. Through the use of BPR investments not only does this not need to be the case but the normal two year qualification will also not apply. BPR investments can also be used by husband and wife or those in civil partnerships where only one party needs to survive the two years that the investment is held and in combination with appropriately drafted wills whereby in some circumstances the tax advantages can be doubled. As with AIM shares qualifying for BPR in ISAs BPR investments outside of an ISA wrapper is not a panacea but for some clients in the right circumstances, well worth a look. Continue reading
