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World’s best knights to descend in Dubai for Global Chess League

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Hou Yifan, left, and Magnus Carlsen are among a stellar field for the inaugural Global Chess League.

The Tech Mahindra Global Chess League (GCL) have announced the complete list of players for the upcoming inaugural edition, to be held at the Dubai Chess and Culture Club from June 21 to July 2.

The GCL, in association with the Dubai Sports Council, will feature reigning world champion Ding Liren, the top-ranked chess player and five-time world champion Magnus Carlsen, five-time world champion Viswanathan Anand, and four-time women’s world champion Hou Yifan, among others.

Grandmaster Liren, said: “Global Chess League appeared to be a fantastic opportunity from the moment I heard about it. Not only is it an interesting format, but also, as an Icon player, I get to contribute to an exciting concept that will change the face of the chess world for years to come. Further, knowing that GCL will see participation from players worldwide, it will be a strong field, and I look forward to meeting all the players.”

A five-time world champion, and the reigning four-time rapid chess world champion, Carlsen’s peak Fide rating has been the highest in chess history. “Chess is played by many people worldwide, but it needs to catch up to other major sports as a spectator sport, and I am optimistic that GCL will contribute significantly to this.”

All teams will compete in a one-of-a-kind joint team format at GCL, with each team consisting of six players with a minimum of two women chess players per team. Besides Liren and Carlsen, four former world champions will add to the thrilling level of competition – 2021 rapid world champion Nodirbek Abdusattorov, 2008 blitz world winner Leinier Domínguez, three-time blitz world champion Alexander Grischuk, and Daniil Dubov (2018, rapid).

The league will also feature top female superstars, including Grandmaster (GM) Hou Yifan, the second highest-rated female player of all time. She was the youngest female player ever to qualify for the title of grandmaster at the age of 14.

There will be six teams with each accorded an icon player and two women players in the mixed-team GCL. The full list of icon players is yet to be finalised.

Yifan will be accompanied by WGMs Koneru Humpy, Harika Dronavalli, Kateryna Lagno, Alexandra Kosteniuk, Tan Zhongyi, Nana Dzagnidze, Bella Khotenashvili, Nino Batsiashvili, Irina Krush, International Master Polina Shuvalova, and 2018 European women’s champion in rapid chess, Elisabeth Paehtz.

Yifan said, “Global Chess League has already sparked widespread interest. GCL is certain to take the game in new directions and open doors, which have never been explored before. Chess fans all over the world are in for a treat.”

Six U21 players will also compete in the GCL, with the trio of Grandmasters, Praggnanandhaa R., Raunak Sadhwani, and Nihal Sarin, leading the pack of prodigies for India. GMs Jonas Buhl Bjerre, Javokhir Sindarov and chess prodigy GM Andrey Esipenko complete the list of players in the category.

ALSO READ: Anand sees ‘new beginning’ in Dubai with GCL

In addition to the players mentioned above, the GCL will feature several other superstars of chess, including Grandmasters Vidit Gujrathi, Gukesh D, Arjun Erigaisi, Shakhriyar Mamedyarov, Teimour Radjabov, Yi Wei, Yu Yangyi, Maxime Vachier-Lagrave, Richard Rapport, Kirill Shevchenko, Jan-Krzysztof Duda and Salem Salah.

Jagdish Mitra, the GCL board chairman, said, “Apart from being great players, all of them have been ambassadors for the game in their respective countries and worldwide. With them on board, GCL only adds another feather to its cap in becoming a true game changer for the chess ecosystem by introducing a mixed-team format in chess. This is a true testament to our belief in providing equal opportunities to all, regardless of gender.”

 

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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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