Of all the natural resources on which the world depends, the supply and demand situation is most critical for water. There are replacements for oil, but no substitute for water, which is essential to produce virtually all the goods in the marketplace.
Asia, not Africa, is the world's driest continent. The gap between demand and supply is growing in China, India, South Korea, Japan, Vietnam and elsewhere in Asia.
This raises a question: can Asia remain the locomotive of the global economy if it cannot mitigate its water crisis?
India faces greater water distress than China. China's population is not even 10 per cent larger than India's, but its internally renewable water resources (estimated at 2,813 billion cubic metres per year) are almost twice as large as India's. In aggregate water availability, including inflows (which are sizeable in India's case), China has virtually 50 per cent more resources than India.
In 1960, India signed a treaty setting aside 80 per cent of the Indus-system waters for downstream Pakistan, in the most generous water-sharing pact in modern history. And its 1996 Ganges treaty with Bangladesh guarantees minimum cross-border flows in the dry season - a new principle in international water law. That treaty divides the flows of the Ganges almost equally between the two countries. And now India is under pressure to reserve about half of the Teesta River's water for Bangladesh.
But India is downriver from China. About a dozen important rivers flow into India from the Tibetan Himalayas. Indeed, one third of India's yearly water supply comes from Tibet, according to United Nations' data. Nations from Afghanistan to Vietnam receive water from the Tibetan Plateau, but India's direct dependency on Tibetan water is greater than any other country's.
But Beijing, far from emulating India's water munificence, rejects the very concept of water sharing and is building large dams on rivers flowing to other nations, with little regard for downriver interests. An extensive Chinese water infrastructure in Tibet will have a serious effect on India.
So India faces difficult choices. Its ambitious plan to link up its major rivers has remained on paper for more than a decade. The idea was to connect 37 Himalayan and peninsular rivers in a pan-Indian water grid, to fight shortages.
Although the grid was ridiculed by the ruling party's heir-apparent Rahul Gandhi as a "disastrous idea", the Supreme Court ordered last year that it be implemented in "a time-bound manner". Will that really happen?
The experience of the Supreme Court-overseen Narmada dam project in Gujarat doesn't leave much room for optimism. India has struggled for decades to complete Narmada, and yet it is designed to produce less than 7 per cent as much hydropower as China's Three Gorges Dam, completed last year.
With water increasingly at the centre of inter-provincial feuds in India, the Supreme Court has struggled for years with water cases, but the parties keep returning to litigate again on new grounds.
Plans for large water projects in India usually run into stiff opposition from influential non-government organisations, so that it has become virtually impossible to build a large dam, blighting the promise of hydropower.
Proof of this was New Delhi's 2010 decision to abandon three dam projects on the Bhagirathi River, a source stream of the Ganges in the Himalayas. One of these was already half-built; hundreds of millions of dollars were wasted.
The largest dam India has built since independence is the 2,000 megawatt Tehri on the Bhagirathi. Compare that with China's 18,300 megawatt Three Gorges. China's proposed Metog Dam, almost on the disputed border with India, is to produce nearly twice as much power as Three Gorges Dam. China is also building on the Mekong River.
Meanwhile India's proposed river-linking plan seems like a dream: a colossal network to handle 178 billion cubic metres of water transfers a year in12,500km of new canals, generating 34 gigawatts of hydropower, creating 35 million hectares of irrigated land and expanding inland navigation. This is the kind of programme that only an autocracy like China can implement.
Government agencies say that by 2050 India must nearly double grain production, to over 450 million tons a year, to meet the demands of prosperity and population growth. Unless it has more irrigated land and adopts new plant varieties and farming techniques, India is likely to become a net food importer before long - a change that will roil world food markets.
More fundamentally, growing water shortages threaten to slow Indian economic growth and fuel social tensions. The government must fix its disjointed policy approach and develop a long-term vision for water resources.
India must treat water as a strategic issue and focus on three key areas. One is achieving greater water efficiency and productivity gains. Another is using clean-water technologies to open up new supply sources, including ocean and brackish waters and recycled wastewater. The third is expanding and enhancing water infrastructure to correct regional and seasonal imbalances in water availability, and to harvest rainwater, which can be a new supply source to ease shortages.
Boosting water supplies demands tapping unconventional sources and adopting non-traditional approaches, as well as improving the old ways of water-supply management.
Brahma Chellaney is a professor of strategic studies at the Center for Policy Research in New Delhi and the author of Water: Asia's New Battleground
On Twitter: @Chellaney
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Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
Titanium Escrow profile
Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
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What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
Ten tax points to be aware of in 2026
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
Naga
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'The Sky is Everywhere'
Director:Josephine Decker
Stars:Grace Kaufman, Pico Alexander, Jacques Colimon
Rating:2/5
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Cracks in the Wall
Ben White, Pluto Press
The view from The National
Thanksgiving meals to try
World Cut Steakhouse, Habtoor Palace Hotel, Dubai. On Thursday evening, head chef Diego Solis will be serving a high-end sounding four-course meal that features chestnut veloute with smoked duck breast, turkey roulade accompanied by winter vegetables and foie gras and pecan pie, cranberry compote and popcorn ice cream.
Jones the Grocer, various locations across the UAE. Jones’s take-home holiday menu delivers on the favourites: whole roast turkeys, an array of accompaniments (duck fat roast potatoes, sausages wrapped in beef bacon, honey-glazed parsnips and carrots) and more, as well as festive food platters, canapes and both apple and pumpkin pies.
Ruth’s Chris Steakhouse, The Address Hotel, Dubai. This New Orleans-style restaurant is keen to take the stress out of entertaining, so until December 25 you can order a full seasonal meal from its Takeaway Turkey Feast menu, which features turkey, homemade gravy and a selection of sides – think green beans with almond flakes, roasted Brussels sprouts, sweet potato casserole and bread stuffing – to pick up and eat at home.
The Mattar Farm Kitchen, Dubai. From now until Christmas, Hattem Mattar and his team will be producing game- changing smoked turkeys that you can enjoy at home over the festive period.
Nolu’s, The Galleria Mall, Maryah Island Abu Dhabi. With much of the menu focused on a California inspired “farm to table” approach (with Afghani influence), it only seems right that Nolu’s will be serving their take on the Thanksgiving spread, with a brunch at the Downtown location from 12pm to 4pm on Friday.