A de-escalation in Gaza requires US leadership


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On Friday, Egyptian prime minister Hisham Qandil flew to Gaza for talks with the Hamas leadership about the current conflict with Israel. Although Israel observed a ceasefire during the brief visit, once Mr Qandil left, it bombed the building where the talks had occurred. Hamas headquarters has been reduced to rubble, and many fear that the uneasy peace between Egypt and Israel, which has existed since the Camp David Accords came into effect in 1980, will soon be in tatters.

If all-out conflict ensues it will be a war that few want and nobody can afford. And, once again, we will see the deaths of many civilians whose only aspiration is to live in peace and freedom.

By now it should be well within the purview of regional and international actors to avoid the first challenge - more civilian deaths. Achieving the second objective - peace for Palestinians - will be far more difficult. But even as rockets rain again on the Levant, there is a clear way forward.

Ending the current cycle of violence will take political will from leaders in Gaza, Egypt, the US - and of course, Israel. Egypt's Islamist president, Mohammed Morsi, has political ties to Hamas, via the Muslim Brotherhood, and could push Hamas towards a ceasefire. That was probably the objective of Mr Qandil's visit. For this to happen, though, the US would have to do the same with Israel. And so far, Washington has only offered the slightest condemnation for Israeli's continuing aggression.

The longer-term challenge is one Palestinians have been denied for decades: a state of their own, free from Israel's containment strategies and expansionist tendencies. History has not been kind to expansionist states - and there is no doubt Israel's settlement policies are expansionism at its worst. Hamas may have provoked Israel into this recent flare-up, but it is Israel's policies targeting Palestinians that give Hamas's "resistance" narrative room to breathe.

The Obama administration, so silent on the peace process in recent years, can no longer afford to sit on the sidelines as its ally pummels Palestinians' right to self-determination. Free from the political calculations of a re-election campaign, President Barack Obama now has the space to challenge Israel's Benjamin Netanyahu. So far, we've heard only words of solidarity, and vague calls to "de-escalate".

Any solution that the Americans or Egyptians can broker in Gaza will be short-term. And as needed as a short-term solution is now, there can be no hope of a true, lasting peace until the creation of a separate state or a truly autonomous Palestinian region that is recognised under international law.

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Who: France v Italy
When: Friday, 11pm (UAE)
TV: BeIN Sports

COMPANY PROFILE
Name: Akeed

Based: Muscat

Launch year: 2018

Number of employees: 40

Sector: Online food delivery

Funding: Raised $3.2m since inception 

First Person
Richard Flanagan
Chatto & Windus 

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RB Leipzig 2 (Klostermann 24', Schick 68')

Hertha Berlin 2 (Grujic 9', Piatek 82' pen)

Man of the match Matheus Cunha (Hertha Berlin

Russia's Muslim Heartlands

Dominic Rubin, Oxford

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Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Marathon results

Men:

 1. Titus Ekiru(KEN) 2:06:13 

2. Alphonce Simbu(TAN) 2:07:50 

3. Reuben Kipyego(KEN) 2:08:25 

4. Abel Kirui(KEN) 2:08:46 

5. Felix Kemutai(KEN) 2:10:48  

Women:

1. Judith Korir(KEN) 2:22:30 

2. Eunice Chumba(BHR) 2:26:01 

3. Immaculate Chemutai(UGA) 2:28:30 

4. Abebech Bekele(ETH) 2:29:43 

5. Aleksandra Morozova(RUS) 2:33:01  

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March 4-8: First Test, Rawalpindi

March 12-16: Second Test, Karachi

March 21-25: Third Test, Lahore

March 29: First ODI, Rawalpindi

March 31: Second ODI, Rawalpindi

April 2: Third ODI, Rawalpindi

April 5: T20I, Rawalpindi

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Joseph E. Stiglitz
W. W. Norton & Company

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1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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8pm: Maiden (TB) Dh80,000 (T) 1,400m, Winner: Nibras Passion, Bernardo Pinheiro, Ismail Mohammed

SPECS
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MATCH INFO

Brescia 1 (Skrinia og, 76)

Inter Milan 2 (Martinez 33, Lukaku 63)