John Martin St Valery, chair of the British Business Group for Dubai and Northern Emirates, first moved to the UAE in 1998. Chris Whiteoak / The National
John Martin St Valery, chair of the British Business Group for Dubai and Northern Emirates, first moved to the UAE in 1998. Chris Whiteoak / The National
John Martin St Valery, chair of the British Business Group for Dubai and Northern Emirates, first moved to the UAE in 1998. Chris Whiteoak / The National
John Martin St Valery, chair of the British Business Group for Dubai and Northern Emirates, first moved to the UAE in 1998. Chris Whiteoak / The National

Dubai British Business Group chair John Martin St Valery made an OBE


Alice Haine
  • English
  • Arabic

The chair of British Business Group Dubai and Northern Emirates, John Martin St Valery, was named in Britain’s New Year Honours list, receiving an OBE for his services to UK businesses in the UAE.

Dubai-based Mr Martin St Valery was also recognised for his work as chair of his own company JacksonMSV - Market Entry Solutions, a company he set up in 2016, shortly after selling his first business, Links Group, to global corporate service provider Equiom.

Mr Martin St Valery – the only person in the UAE on the Near Year Honours list – said he was delighted and proud to receive an Officer of the Order of the British Empire from the Queen.

“I was absolutely blown away by the news. I had no idea at all, so I was completely delighted and honoured,” Mr Martin St Valery told The National.

The BBG chief was invited by Simon Penney, her majesty’s trade commissioner for the Middle East and her majesty’s consul general in Dubai, to the embassy three weeks before Christmas to receive the good news.

“I had no clue and had to keep it secret from everyone," Mr Martin St Valery said. "That's the protocol until it's actually gazetted on the first of January, so that was quite difficult.”

But Mr Martin St Valery, who first moved to Dubai in 1998 to set up a UAE branch for the financial services company Equitable Life, said he did tell his wife.

“She wondered why I've been summoned to the headmaster's office – the embassy – and then came back with a big brown ‘On Her Majesty's Service’ envelope. I think she was worried it might be the taxman – so I did tell her, but no one else,” he said with a laugh.

Anyone can be nominated for a New Year's Honour. Mr Martin St Valery was nominated because of his successes as a British business owner in the UAE and for his unpaid, voluntary contribution towards running the BBG.

“All round, he's been a very strong ambassador for UK commercial interest,” Simon Penney, her majesty’s trade commissioner for the Middle East and her majesty’s consul general in Dubai, told The National.

“The BBG is a not-for-profit organisation that helps British businesses succeed here in Dubai particularly," he said.

Mr Martin St Valery's nomination "was a combination of him being a successful British businessman, but more importantly, the fact he's devoted a considerable amount of his time to helping other British businesses through the BBG chairmanship and he also voluntarily supports the British University in Dubai as well” Mr Penney said.

The past 12 months have been extremely significant for UK-UAE relations, following the expansion of Britain's Strategic Investment Partnership with the UAE in September when Mubadala Investment Company committed a further £9 billionn to Britain’s technology, infrastructure and energy transition, in addition to the £800 million already pledged to the life sciences sector in March.

That FTA will further strengthen the bilateral relationship with each of the six member states of the Gulf.
Simon Penney

Mr Penney said 2022 will be a pivotal year for UK-UAE relations, as the UK looks to commence negotiations on a free trade agreement this year.

“That FTA will further strengthen the bilateral relationship with each of the six member states of the Gulf, but the UAE today is the UK's largest trading counterpart in the Gulf and certainly with the measures that the UAE are taking, we have every reason to believe that trade has a significant opportunity to grow even further over the next 12 months and beyond.”

With 5,000 British businesses operating in the Emirates, Mr Penney said the UK relied heavily on voluntary business groups, such as the BBG, as it moves into "the next phase of its trade and investment relationship with the UAE".

"John, stepping up and being chairman, like his predecessor, is something they do out of goodwill and a sense of duty, so business groups are really important conduits to get our message further and deeper because ultimately, our job as government is to make it easier for businesses to do business – we are nothing without businesses," Mr Penney said.

Mr Martin St Valery said the strength of the government-to-government relations between the UK and the UAE but also government to business have never been stronger.

“There are very clear targets for trade growth – with about £16 billion last year and an aim in the next two to three years to get to £25 billion reciprocal trade,” he said.

Bradley Jones, executive director of the UK-UAE Business Council, which underwent a revamp last year, as the organisation looks to boost the close trade and investment ties between the UAE and UK, said Mr Martin St Valery "has played a really important leadership role at the BBG Dubai and more widely as a highly respected representative of the British business community there".

"He also supported the Business Council during the restructuring we went through in 2020 and continues to advise us and mentor us. So this was a very well-deserved honour," Mr Jones said.

John Martin St Valery said the BBG has been a feature throughout his 24-year stint in the Emirates. Chris Whiteoak / The National
John Martin St Valery said the BBG has been a feature throughout his 24-year stint in the Emirates. Chris Whiteoak / The National

Mr Martin St Valery founded the Links Group in 2002, after his first job came to an end when the company he was working for withdrew its operations from the Emirates

“In 2000 it was quite an interesting time here because there was a lot of talk in the market about the real estate market opening up, free zones opening and a financial centre coming. So I made the decision, having been through that process of setting up a business and then closing one down, of setting up an advisory business to help other businesses coming into the market,” he said.

While initially the company focused on British companies, it later evolved to offer services to other firms, after pioneering what is now called the corporate nominee model, where foreign companies have a company as the local partner, holding 51 per cent equity to comply with local regulations.

But Mr Martin St Valery said the one thread that has run through his 24-year stint in the Emirates is the BBG, which he first joined as a member, before later joining the committee and becoming chair in 2017, a role from which he will step down this summer.

“Having arrived here in the late 90s without a network, one of the best pieces of advice was that you should join the BBG because they can find you a professional and perhaps social network as well," he said.

“That group enabled me to meet with lawyers that I needed to see, accountants and recruitment agencies and that's how I built my network.”

After becoming chair of the organisation, Mr Martin St Valery revamped how the organisation was run because at the time the group “had lost its way” and membership was dwindling, with event attendance also falling.

Today, membership is on the rise again with the event schedule booked up for the next six months and a full-time staff of six and a pro bono board of 12, with the organisation also becoming invaluable to British companies when the pandemic started in March 2020.

“We went old school and picked up the phone to our members, reaching about 70 per cent of them in the first four to six weeks after the pandemic [and] started to ask them what their concerns and pain points were – particularly the smaller supply chain businesses that felt they were not going to get paid and did not know what the outlook was,” he said.

  • Laura Kenny and Jason Kenny who have been awarded a Damehood and a Knighthood for services to Cycling in the New Year honours list.
    Laura Kenny and Jason Kenny who have been awarded a Damehood and a Knighthood for services to Cycling in the New Year honours list.
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    Hannah Cockroft who has been made an Officer of the Order of the British Empire (OBE) for services to athletics in the New Year honours list.
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    Tom Daley, left, and Matty Lee have been made Members of the Order of the British Empire (MBE) for services to diving.
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    Adam Peaty has been made an Officer of the Order of the British Empire (OBE) for services to Swimming.
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    Max Whitlock has been made an Officer of the Order of the British Empire (OBE) for services to gymnastics.
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    Chelsea manager Emma Hayes has been made an Officer of the Order of the British Empire (OBE) for services to Association Football.
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    Tom Dean has been awarded an MBE for services to swimming.
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    Jonathan Rea has been made an Officer of the Order of the British Empire (OBE) for services to motorcycle racing.

The New Year's Honours list is published biannually by the UK’s Cabinet Office, once at the start of the year and also on the Queen’s birthday.

While famous faces to receive New Years Honours this year included James Bond star Daniel Craig, who received a Companion of the Order of St Michael and St George, ordinary people who make an extraordinary contribution are also recognised with OBEs given to those who have a major local role in any activity ranging from arts and athletics, to science, business and politics.

After receiving the news, Mr Martin St Valery said he felt emotional driving home because he realised he had dedicated a lot to his work in the Emirates “not for a reason – but just because those were the circumstances and it's what I enjoy doing”.

“I became even more emotional on New Year's Day when I was telling the rest of the family, and I've been absolutely inundated and humbled by all the messages on LinkedIn and social media," he said.

No%20Windmills%20in%20Basra
%3Cp%3EAuthor%3A%20Diaa%20Jubaili%3C%2Fp%3E%0A%3Cp%3EPages%3A%20180%3C%2Fp%3E%0A%3Cp%3EPublisher%3A%20Deep%20Vellum%20Publishing%C2%A0%3C%2Fp%3E%0A
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

Napoleon
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Company profile

Name: GiftBag.ae

Based: Dubai

Founded: 2011

Number of employees: 4

Sector: E-commerce

Funding: Self-funded to date

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Astra%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMarch%202022%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAbdallah%20Abu%20Sheikh%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20technology%20investment%20and%20development%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%24500m%3C%2Fp%3E%0A

The Kingfisher Secret
Anonymous, Penguin Books

TOP%2010%20MOST%20POLLUTED%20CITIES
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Results

5pm: Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Aahid Al Khalediah II, Pat Cosgrave (jockey), Helal Al Alawi (trainer)

5.30pm: Handicap (PA) Dh80,000 (T) 2,200m; Winner: Whistle, Harry Bentley, Abdallah Al Hammadi

6pm: Wathba Stallions Cup - Maiden (PA) Dh70,000 (T) 1,600m; Winner: Alsaied, Szczepan Mazur, Ibrahim Al Hadhrami

6.30pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Mumayaza, Antonio Fresu, Eric Lemartinel

7pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi

7.30pm: President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Richard Mullen, Jean de Roualle

8pm: President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Medahim, Richard Mullen, Satish Seemar

Company%20profile
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The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

South Africa squad

: Faf du Plessis (captain), Hashim Amla, Temba Bavuma, Quinton de Kock (wkt), Theunis de Bruyn, AB de Villiers, Dean Elgar, Heinrich Klaasen (wkt), Keshav Maharaj, Aiden Markram, Morne Morkel, Chris Morris, Wiaan Mulder, Lungi Ngidi, Duanne Olivier, Vernon Philander and Kagiso Rabada.

The design

The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.

More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.

The architecture will control light sources to provide a highly insulated and airtight building.

The forecourt is protected from the sun and the plants will refresh the inner spaces.

A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.

Energy-saving equipment will be used for all lighting and projections.

Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.

Some elements of the metal frame can be prefabricated in a factory.

 From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.

Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019. 

Construction of the pavilion will take 17 months from May 2019 to September 2020.

THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

Fifa Club World Cup quarter-final

Kashima Antlers 3 (Nagaki 49’, Serginho 69’, Abe 84’)
Guadalajara 2 (Zaldivar 03’, Pulido 90')

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

Suggested picnic spots

Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
 
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes 

RESULTS

Bantamweight: Victor Nunes (BRA) beat Azizbek Satibaldiev (KYG). Round 1 KO

Featherweight: Izzeddin Farhan (JOR) beat Ozodbek Azimov (UZB). Round 1 rear naked choke

Middleweight: Zaakir Badat (RSA) beat Ercin Sirin (TUR). Round 1 triangle choke

Featherweight: Ali Alqaisi (JOR) beat Furkatbek Yokubov (UZB). Round 1 TKO

Featherweight: Abu Muslim Alikhanov (RUS) beat Atabek Abdimitalipov (KYG). Unanimous decision

Catchweight 74kg: Mirafzal Akhtamov (UZB) beat Marcos Costa (BRA). Split decision

Welterweight: Andre Fialho (POR) beat Sang Hoon-yu (KOR). Round 1 TKO

Lightweight: John Mitchell (IRE) beat Arbi Emiev (RUS). Round 2 RSC (deep cuts)

Middleweight: Gianni Melillo (ITA) beat Mohammed Karaki (LEB)

Welterweight: Handesson Ferreira (BRA) beat Amiran Gogoladze (GEO). Unanimous decision

Flyweight (Female): Carolina Jimenez (VEN) beat Lucrezia Ria (ITA), Round 1 rear naked choke

Welterweight: Daniel Skibinski (POL) beat Acoidan Duque (ESP). Round 3 TKO

Lightweight: Martun Mezhlumyan (ARM) beat Attila Korkmaz (TUR). Unanimous decision

Bantamweight: Ray Borg (USA) beat Jesse Arnett (CAN). Unanimous decision

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

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Profile Box

Company/date started: 2015

Founder/CEO: Mohammed Toraif

Based: Manama, Bahrain

Sector: Sales, Technology, Conservation

Size: (employees/revenue) 4/ 5,000 downloads

Stage: 1 ($100,000)

Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

UAE players with central contracts

Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

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

Roll of honour 2019-2020

Dubai Rugby Sevens

Winners: Dubai Hurricanes

Runners up: Bahrain

 

West Asia Premiership

Winners: Bahrain

Runners up: UAE Premiership

 

UAE Premiership

Winners: Dubai Exiles

Runners up: Dubai Hurricanes

 

UAE Division One

Winners: Abu Dhabi Saracens

Runners up: Dubai Hurricanes II

 

UAE Division Two

Winners: Barrelhouse

Runners up: RAK Rugby

Look north

BBC business reporters, like a new raft of government officials, are being removed from the national and international hub of London and surely the quality of their work must suffer.

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

RESULTS

Manchester United 2

Anthony Martial 30'

Scott McTominay 90 6' 

Manchester City 0

Secret Pigeon Service: Operation Colomba, Resistance and the Struggle to Liberate Europe
Gordon Corera, Harper Collins

Famous left-handers

- Marie Curie

- Jimi Hendrix

- Leonardo Di Vinci

- David Bowie

- Paul McCartney

- Albert Einstein

- Jack the Ripper

- Barack Obama

- Helen Keller

- Joan of Arc

Updated: January 04, 2022, 10:56 AM