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GCL: Ganges win despite Anand’s loss to Carlsen

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The second day of the Tech Mahindra Global Chess League witnessed the debut of Magnus Carlsen, the strongest chess player in the world, as his team SG Alpine Warriors experienced mixed fortunes while playing two matches for the day at Le Meridien hotel, Dubai.

The lead player for Warriors, Carlsen played his first game against Ian Nepomniachtchi, a two-time challenger for the world crown, of Balan Alaskan Knights before taking on former five-time world champion Vishwanathan Anand. Despite holding the white advantage and beating Anand on the first board, the Warriors lost to Anand’s Ganges Grandmasters as the two renewed their old, arch rivalry.

Carlsen got the bragging rights again over Anand, the man he beat in 2013 to claim the title of world champion for the first time. Carlsen seized early initiative, gaining an extra pawn and more initiative, for a better position. Anand gradually fell into time trouble.

Magnus Carlsen, right, shakes hands after his win over Vishwanathan Anand. Global Chess League

After an exchange of heavy pieces, Carlsen ended up in a significantly better position, and Anand had to resign. “There’s always a special touch when we play”, said Anand post-match.

“It was good to play Vishy but right now I am more concerned about my team”, Carlsen added. And he was right. Luckily for the Ganges Grandmasters, they bounced back with victories on boards two and five.

Richard Rapport convincingly defeated GM Gukesh, while Bela Khotenashvili triumphed over Elisabeth Paehtz. With the remaining three games ending in draws, despite their loss on board one, the Ganges Grandmasters crushed the SG Alpine Warriors with a final score of 11 to 6.

Earlier, the day started with Warriors winning 9 to 7 against the Knights. Carlsen and Nepomniachtchi settled for a quick draw, which was not the case for the rest of the games. The Knights’s Teimour Radjabov won as black, earning them four crucial points. Fortunately for the Warriors, they made a comeback with two victories, securing six points.

After draws on two other boards the result was 8-6 for Warriors. Everything was hanging on the last game between Indian chess hope Gukesh D who was up against Nodirbek Abdusattorov, the 2021 rapid world champion. Abdusattorov made a strong push from the early stages, but Gukesh managed to hold his ground, ensuring his team’s victory with a final score of 9-7.

“I had a small edge but it was largely even through. I wanted to play a more interesting game but this one went the way it did,” said Carlsen who also noted that he is excited to be taking part in this event which is more dynamic and different to most others in chess.

In the second match of the day, Chingari Gulf Titans took on Triveni Continental Kings in white with both teams seeking their first win. It started well for the Titans whose players managed to create stronger positions and take initiative in the match.

In the duel of the prodigies, Nihal Sarin scored an impressive victory against Jonas Buhl Bjere, setting the Titans off to a good start. However, following a mistake in a tense game, Daniil Dubov allowed Wei Yi to score as black, as the Kings made a comeback in style. With four other games ending in a draw, Yi’s victory was crucial to secure them an overall edge of 8:7 in the match.

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Small businesses in the UAE now have tax relief until 2029

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Small businesses in the UAE with annual revenues of up to Dh3 million will continue to be eligible for Small Business Relief under the corporate tax regime until the end of 2029.

The Ministry of Finance said on Friday that Ministerial Decision No. 131 extends the period during which eligible businesses can benefit from Small Business Relief to cover tax periods ending on or before December 31, 2029.

The relief was introduced to help reduce the corporate tax compliance burden for smaller businesses and start-ups that meet the eligibility requirements.

Dh3 million threshold remains unchanged

The existing annual revenue threshold of Dh3 million, set under Ministerial Decision No. 73 of 2023, will continue to apply.

The relief applies to tax periods beginning on or after June 1, 2023 and, following the latest amendment, will remain available for subsequent tax periods ending on or before December 31, 2029.

Eligible taxable persons with annual revenue of up to Dh3 million can claim Small Business Relief, subject to meeting the conditions and requirements outlined in the corporate tax legislation.

The relief enables qualifying businesses to benefit from simplified corporate tax compliance requirements.

More time for small businesses

The extension provides eligible small businesses and start-ups with additional tax periods to benefit from the relief while continuing to meet the Dh3 million revenue threshold.

The Ministry said the decision is part of its efforts to support smaller companies and entrepreneurs, strengthen the business environment, and encourage sustainable growth and expansion.

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UAE public holiday announced: 3-day weekend coming up on August 28

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Planning your next long weekend? The UAE has confirmed Friday, August 28, as a public holiday for employees in both the public and private sectors.

The holiday commemorates Prophet Muhammad’s (PBUH) birthday, an occasion included among the UAE’s official public holidays. As the date follows the Islamic calendar, the timing changes from year to year.

A three-day break for many residents

With the holiday falling on a Friday, employees who follow a Monday-to-Friday working week can enjoy three days off:

  • Friday, August 28: Public holiday
  • Saturday, August 29: Weekend
  • Sunday, August 30: Weekend

That means residents can make the most of the break with a short trip, a staycation or a relaxed weekend at home.

Another UAE holiday is coming

The next major public holiday on the UAE calendar will be Eid Al Etihad, with celebrations and the official holiday scheduled for December 2 and 3.

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What the UAE’s new vape excise price means for consumers and retailers

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The UAE Ministry of Finance has introduced a new rule that sets a minimum excise price for liquids used in electronic smoking devices.

Beginning September 1, vaping liquids will be subject to a minimum excise price of AED 1 per millilitre.

The ministry confirmed that the existing minimum excise prices for cigarettes, water pipe tobacco (shisha), and other tobacco products will remain unchanged.

According to the ministry, the decision aims to improve tax compliance, respond to developments in the tobacco and vaping industry, and create a more consistent pricing framework across tobacco and electronic smoking products.

The UAE will also continue applying its 100% excise tax on all tobacco products covered under the country’s excise tax regulations.

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