US debt ceiling talks productive, UAE SMEs brace for corporate tax, Students can choose electives, and more, Gulf News Editors comment on the top stories on May 23

US DEBT CEILING TALKS PRODUCTIVE: Talks between US President Joe Biden and top Republican Kevin McCarthy regarding the debt ceiling have been described as productive, even as an agreement remains elusive. The debt ceiling is a spending limit set by the US Congress that determines how much money the government can borrow. Failing to raise the debt ceiling beyond the current cap of $31.4 trillion by June could lead to a US default on its debt, which would have significant consequences for the global economy. Republicans, led by McCarthy, have been demanding over $4 trillion in spending cuts in exchange for raising the ceiling, while Democrats have refused the same and proposed keeping spending flat. As things stand, it remains uncertain when a deal will be reached. Biden and McCarthy must now take the talks further and seal the deal. (By Sadiq Shaban, Opinion Editor)

STUDENTS ALLOWED TO CHOOSE ELECTIVE SUBJECTS: Students in Grades 11 and 12 who attend public or private schools and use the Ministry of Education's curriculum may now pick elective subjects, according to a new decision. This applies to Grade 11 students in the 2023-2024 academic year. Grade 12 students will subsequently be added from 2024. Students in the general and advanced streams are required to finish 6 Compulsory Academic Subjects — including Arabic language, Islamic studies, social studies/moral education, English, mathematics, and physical and health education, in accordance with the Elective Subjects’ Model. From the remaining subjects, 2 set of electives will be created. The first includes three science subjects: Physics, Chemistry, and Biology. The second consists of three inter-disciplinary courses: Computer science, creative design and innovation, health sciences, and the arts. This move is timely. Allowing students to pick subjects that match their skills and interests enables them to choose their own educational path, towards a fulfilling lifetime career. (By Jay Hilotin, Senior Assistant Editor)

SMES IN UAE GET MORE HAND-HOLDING ON CORPORATE TAX MEASURES: As breaks go, UAE SMEs get another good one from the Ministry of Finance on their corporate tax obligations. SMEs generating under Dh3 million in revenues can if they so decide use the cash-basis accounting for their books rather than the more rigorous IFRS requirements their bigger corporate peers have to do with. On the face of it, this may not seem much for a small business trying to find its way up the ladder. But each little extra cushion the Ministry or the federal Tax Authority can provide reduces the burden of compliance small businesses have to go through. This is a new landscape that UAE companies are getting into with corporate tax. Depending on their size, some will need more hand-holding on the part of authorities, And UAE SMEs are getting it…(By Manoj Nair, Business Editor)

SPORTS NEEDS PERFECT PRACTICE: "Practice makes a man perfect" is the adage, but the famous coach Ramakant Achrekar, the guru of the Sachin Tendulkar, says "perfect makes a man perfect." It has a lot of meaning to it. Sometimes, while practicing, the players will go through their routines without giving much thought to their game, but it could prove detrimental in crucial situations. This is exactly what Sri Lankan great Chaminda Vaas said about the ills of bowling no balls and wides, even by the best bowlers in the Indian Premier League Season 16. The left-arm pacer said that from a young age players need to make it a habit to bowl at the nets without giving away any extras, which will translate perfectly into the matches. Virender Sehwag once remarked that he would leave the nets if he gets out in practice. His reasoning is that in matches, he only gets one chance, so he has been developing the art of perfecting his batting with a disciplined approach. This is a big lesson for aspiring youngsters if they aim to be successful. (By A.K.S. SATISH, Sports Editor)

MUM’S NOT THE WORD FOR KIM KARDASHIAN: We live in an era where idealised and romantic version of parenting is a dominant narrative, but reality TV star Kim Kardashian fearlessly opened up about the challenges attached to raising children. In a recent podcast with host Jay Shetty, Kardashian described parenting as one of the most rewarding jobs in the world, but also made it abundantly clear that no parent is fully equipped to deal with the chaos that’s unleased every morning in a household. She spoke openly about the “full madness” in her home and that vulnerable admission made her refreshingly relatable. By speaking up about the overwhelming nature of parenting, Kardashian – who’s a single parent to her four children after her divorce with rapper Kanye West – gave a voice to all those parents who might be suffering silently. We need more celebrities who keep it real about the bumps and curves in their lives. (By Manjusha Radhakrishnan, Entertainment Editor)