An unusual relic has been making waves in Abu Dhabi’s Mamsha Al Saadiyat. Anyone basking in the sunshine along the promenade may have seen an 18-metre-long boat with a 4000-year-old history cruising along the Arabian Gulf's azure waters.
And the Magan vessel from the Bronze Age is on a mission to recreate an important chapter from the UAE’s ancient past while pointing to the future of one of its most important cultural institutions.
Initiated by Zayed National Museum, the project to rebuild the boat aims to expand what we know about the Gulf’s maritime past and the wider history of ship construction. The boats once connected ancient Gulf communities to those as far away as Mesopotamia in modern-day Iraq and South Asia.
The recent voyage was a culmination of a project launched in 2021 with researchers from NYU Abu Dhabi and Zayed University.
Zayed National Museum director Peter Magee, who participated in the two-day expedition, recalls the experience as revelatory for all involved. "This project is not about me but of the myriad scholars, engineers and craftspeople from around the region and the globe who we brought together," he tells The National.
"But from a personal perspective, in my over 30 years of being engaged in historical and archaeological research in the UAE, it was the closest I have felt to a really strong connection to the people I have studied archaeologically for all those years."
Setting sail from Saadiyat Island, the boat was escorted by the UAE Coast Guard. It covered 50 nautical miles (92.6km) at a speed of up to 5.6 knots under a sail made of goat hair. The composition of the boat speaks to the ingenuity of the craftsmen in Magan, a term Magee says was used by foreigners to describe ancient UAE and parts of Oman.
Using raw material available at the time, the boat's outer hull is made from 15 tonnes of locally sourced reeds that were stripped of their leaves and crushed before being tied to bungles with date palm fibre rope. The core is made of wooden frames and coated in bitumen, a technique used by ancient shipbuilders in the region to waterproof their vessels.
That construction know-how was sourced through documents tracing back to ancient Iraq. "We used strands of information which come from different sources,” Magee says. "So on the one hand there are some very well-known sources amongst academics and scholars that study this and these are texts coming from ancient Iraq during a particular period about 4,100 years ago, which mentioned these Magan boats.
“So these texts are written in a script called Cuneiform and in different languages like Neo Sumerian and Babylonian.
“One particular text actually just lists the things that are needed to build one of these boats. These include how much wood and reeds are needed, as well as how many goat hairs are needed for the sail. It doesn't tell you how to do it, it just says this is the stuff that we need to build one of these boats."
Helping translate those facts into form was Eric Staples, an associate professor at Zayed University specialising in maritime archaeology. “Although reconstructions of Magan boats had been constructed in the past, none had been built on such a large scale, and we discovered that larger Bronze Age vessels such as this could actually be built and sailed effectively,” he says.
“We gained a much deeper knowledge of the materials used to build such boats to better understand the strengths and weaknesses of these revolutionary craft. We also gained a much deeper appreciation for the ingenuity and courage of the ancient shipbuilders and seafarers of the Bronze Age that built and sailed these vessels and connected the first civilisations of the world in the process.”
Emirati sailor and co-captain of the Magan boat, Marwan Abdullah Al Marzouqi, describes the boat as surprisingly nimble considering its size.
“When we first towed the boat out from the jetty, we were very careful," he says. "I was very aware it was made from only reeds, ropes and wood – there are no nails, no screws, no metal at all – and I was afraid of damaging her.
“But as we got under way, I soon realised that this was a strong boat. I was surprised by how this big boat, weighed down with a heavy ballast, moved so smoothly on the sea."
With the Department of Culture and Tourism – Abu Dhabi announcing that all "key assets" in the Saadiyat Cultural District are set for completion next year, the museum is poised to showcase the UAE's rich history and culture, while also positioning itself as a vigorous research institute.
“And that’s a key thing for the museum in that we are producing research that is extremely important," Magee says. "The museum is a blend of having a genuine desire to highlight something that existed thousands of years ago, and in doing so changing people's perceptions of a country whose cultural history stretches thousands of years.
“And on the other hand, it is also about producing deep scholarly research that is meticulous and careful in thought. And when it comes to the Magan boat it is right on target.”
With the boat on display when the museum opens, Magee says it forms the many stories it aims to tell about the UAE’s past. He describes its role as shedding light on important aspects of the country's history seemingly lost amidst its dazzling evolution.
“As an archaeologist and as a historian, our job is effectively to give voice to those who might have been forgotten or can no longer be heard ... we are not working from a blank canvas because the canvas itself is already rich and varied with lots of details,” Magee says. “And while it is sort of an archaeological cliche to say this, we are merely scratching the surface of the very deep and rich history here in the UAE.”
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
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
'Ghostbusters: From Beyond'
Director: Jason Reitman
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
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Avengers 3: Infinity War: an American superhero film released in 2018 and based on the Marvel Comics story.
Sholay: a 1975 Indian action-adventure film. It follows the adventures of two criminals hired by police to catch a vagabond. The film was panned on release but is now considered a classic.
Lucifer: is a 2019 Malayalam-language action film. It dives into the gritty world of Kerala’s politics and has become one of the highest-grossing Malayalam films of all time.
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
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
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Skoda Superb Specs
Engine: 2-litre TSI petrol
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Scoreline:
Cardiff City 0
Liverpool 2
Wijnaldum 57', Milner 81' (pen)
In Full Flight: A Story of Africa and Atonement
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THE SPECS
Engine: 2.0-litre four-cylinder turbo
Transmission: eight-speed automatic
Power: 258hp at 5,000-6,500rpm
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Fuel economy, combined: 6.4L/100km
Price, base: from D215,000 (Dh230,000 as tested)
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Russia's Muslim Heartlands
Dominic Rubin, Oxford
Who is Mohammed Al Halbousi?
The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.
He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.
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Brief scores:
Toss: Sindhis, elected to field first
Kerala Knights 103-7 (10 ov)
Parnell 59 not out; Tambe 5-15
Sindhis 104-1 (7.4 ov)
Watson 50 not out, Devcich 49
U19 WORLD CUP, WEST INDIES
UAE group fixtures (all in St Kitts)
- Saturday 15 January: UAE beat Canada by 49 runs
- Thursday 20 January: v England
- Saturday 22 January: v Bangladesh
UAE squad:
Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles
Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly,
Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya
Shetty, Kai Smith
Healthy tips to remember
Here, Dr Mohamed El Abiary, paediatric consultant at Al Zahra Hospital Dubai, shares some advice for parents whose children are fasting during the holy month of Ramadan:
Gradual fasting and golden points - For children under the age of 10, follow a step-by-step approach to fasting and don't push them beyond their limits. Start with a few hours fasting a day and increase it to a half fast and full fast when the child is ready. Every individual's ability varies as per the age and personal readiness. You could introduce a points system that awards the child and offers them encouragement when they make progress with the amount of hours they fast
Why fast? - Explain to your child why they are fasting. By shedding light on the importance of abstaining from food and drink, children may feel more encouraged to give it there all during the observance period. It is also a good opportunity to teach children about controlling urges, doing good for others and instilling healthy food habits
Sleep and suhoor - A child needs adequate sleep every night - at least eight hours. Make sure to set a routine early bedtime so he/she has sufficient time to wake up for suhoor, which is an essential meal at the beginning of the day
Good diet - Nutritious food is crucial to ensuring a healthy Ramadan for children. They must refrain from eating too much junk food as well as canned goods and snacks and drinks high in sugar. Foods that are rich in nutrients, vitamins and proteins, like fruits, fresh meats and vegetables, make for a good balanced diet
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Race results:
1. Thani Al Qemzi (UAE) Team Abu Dhabi: 46.44 min
2. Peter Morin (FRA) CTIC F1 Shenzhen China Team: 0.91sec
3. Sami Selio (FIN) Mad-Croc Baba Racing Team: 31.43sec