A global financial watchdog on Friday warned Iran to clamp down on terrorism financing by February or face a deeper squeeze on its sanctions-hit economy.
The Islamic republic, already hurt by a resumption of US sanctions over its past nuclear programme, this month approved one bill to help meet demands imposed by the international Financial Action Task Force (FATF).
FATF, following a meeting at its Paris headquarters this week, welcomed the legislation and extended a suspension of counter-measures that has allowed Iran to escape further isolation from international finance.
But nine of the 10 "action plan" items needed to remove Iran from an FATF blacklist have yet to be adopted by Tehran, according to Marshall Billingslea, the US assistant treasury secretary for terrorist financing.
"In our plenary, here in Paris, we expressed our disappointment that the majority of the action plan remains outstanding," said Billingslea, who currently chairs the FATF, told a news conference.
"We expect that they will have adopted all these measures by February," he said.
Billingslea said if measures were not adopted by February next year, the FATF will take further steps to protect against the risks from Iran's lack of action.
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For Iran, access to finance has become particularly pressing since the United States walked out of a 2015 nuclear deal earlier this year and began reimposing sanctions.
Iran's foreign ministry in a statement reacted favourably to the FATF decision, saying it considered the extension of the suspension of countermeasures "another victory" for Tehran's diplomacy.
However the ministry urged the financial watchdog to "resist political pressures" in its dealings with Iran.
The other parties to the deal – Britain, France, Germany, China and Russia – have sought to salvage the agreement and maintain trade with Iran, but have demanded that it accede to the FATF.
Among the further steps demanded by the FATF, originally an initiative of the G7 nations, was for Iran to identify and freeze extremist assets in line with UN Security Council resolutions.
Another was for Tehran to remove an exemption from its legislation that allows financing towards groups deemed to be attempting to end "foreign occupation, colonialism and racism".
Iran has long been accused by the United States, Israel and regional rivals such as Saudi Arabia of financing a web of extremist groups, including the Hezbollah militia in Lebanon.
In a statement, the FATF said it will review Iran's remaining legislation once it is in place to determine whether Tehran had met its demands.
It urged FATF members to exercise heightened checks on transactions involving Iranian businesses and nationals.
Iran is one of only two countries on the FATF blacklist.
The other is North Korea, and Friday's statement reiterated "serious concerns" about the Asian country's illicit activities to finance its missile and nuclear programmes.
Ad Astra
Director: James Gray
Stars: Brad Pitt, Tommy Lee Jones
Five out of five stars
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
UAE%20athletes%20heading%20to%20Paris%202024
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No more lice
Defining head lice
Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.
Identifying lice
Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.
Treating lice at home
Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.
Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital
Killing of Qassem Suleimani
Killing of Qassem Suleimani
SPECS
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Mohammed bin Zayed Majlis
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
RESULT
Esperance de Tunis 1 Guadalajara 1
(Esperance won 6-5 on penalties)
Esperance: Belaili 38’
Guadalajara: Sandoval 5’
COMPANY%20PROFILE
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The five pillars of Islam
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
The Sheikh Zayed Future Energy Prize
This year’s winners of the US$4 million Sheikh Zayed Future Energy Prize will be recognised and rewarded in Abu Dhabi on January 15 as part of Abu Dhabi Sustainable Week, which runs in the capital from January 13 to 20.
From solutions to life-changing technologies, the aim is to discover innovative breakthroughs to create a new and sustainable energy future.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
57%20Seconds
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GRAN%20TURISMO
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MATCH INFO
Real Madrid 3 (Kroos 4', Ramos 30', Marcelo 37')
Eibar 1 (Bigas 60')
Honeymoonish
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