Etihad Museum is one of many cultural hubs in the UAE. The strength of the sector will be discussed at the 2025 International Council of Museums Conference taking place in Dubai. Photo: Dubai Culture & Arts Authority
Etihad Museum is one of many cultural hubs in the UAE. The strength of the sector will be discussed at the 2025 International Council of Museums Conference taking place in Dubai. Photo: Dubai Culture & Arts Authority
Etihad Museum is one of many cultural hubs in the UAE. The strength of the sector will be discussed at the 2025 International Council of Museums Conference taking place in Dubai. Photo: Dubai Culture & Arts Authority
Etihad Museum is one of many cultural hubs in the UAE. The strength of the sector will be discussed at the 2025 International Council of Museums Conference taking place in Dubai. Photo: Dubai Culture

International Council of Museums Conference to take place in Dubai in 2025


Saeed Saeed
  • English
  • Arabic

Dubai will host the International Council of Museums Conference in 2025.

The announcement was made on Saturday in a tweet by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.

Held every three years – with the next taking place in the Czech capital Prague in 2022 – the conference is the largest global gathering of museum representatives and professionals for discussions surrounding the promotion and protection of natural and cultural heritage, in addition to examining future industry trends.

Sheikh Mohammed said 20,000 museums from 119 countries will be represented in the Dubai event, with the resulting exchange of experience and knowledge to inject a "strong impetus to the [UAE's] cultural sector".

The International Conference of Museums Conference has released a statement on the theme for the 2025 event, with a particular focus on how the cultural sector can bounce back amid the pandemic.

“The world we live in today is vastly different from the one we used to know not so long ago. A torrent of events – a pandemic, massive protests, natural disasters, soaring inequalities, a technology and digital revolution, to name a few – has changed everything we thought we knew and led to the one thing we can be certain of: tomorrow will be uncertain,” reads the statement.

“We are all trying to learn to cope, adapt, change, progress within a fast-changing environment, with some communities and people better equipped than others to face the changes.

“Our museums have been going through the same process, albeit not always at the same pace. As we seek to transform ourselves and relate to others, so do our museums. And that is the explorative journey we are proposing at the conference: where might we go next, together – museums and communities, hand in hand, for a better future?”

The conversations in Dubai will build upon The Powers of Museums theme of the Prague conference, which will look at ways to strengthen and expand the capacity of museums, and their role in society and the global economy.

  • Some of the works from The Dubai Collection will be available for public viewing at the Etihad museum from November 6. Victor Besa / The National
    Some of the works from The Dubai Collection will be available for public viewing at the Etihad museum from November 6. Victor Besa / The National
  • The exhibition features nearly 70 artworks. Victor Besa / The National
    The exhibition features nearly 70 artworks. Victor Besa / The National
  • When Images Speak exhibit is on view until May 2022. Victor Besa / The National
    When Images Speak exhibit is on view until May 2022. Victor Besa / The National
  • 'The Falling Dot', a 1972 painting by Iraqi painter Dia Al Azzawi. Victor Besa / The National
    'The Falling Dot', a 1972 painting by Iraqi painter Dia Al Azzawi. Victor Besa / The National
  • Curated by Nada Shabout, When Images Speak unfolds into three thematic chapters. Victor Besa / The National
    Curated by Nada Shabout, When Images Speak unfolds into three thematic chapters. Victor Besa / The National
  • Carlo Rizzo, special adviser to the Dubai Collection, gives a tour at the Etihad Museum. Victor Besa / The National
    Carlo Rizzo, special adviser to the Dubai Collection, gives a tour at the Etihad Museum. Victor Besa / The National
  • A 1996 untitled work by Naziha Selim (Iraq, 1927-2008). From the private collection of Sheikh Mohammed Bin Rashid Al Maktoum
    A 1996 untitled work by Naziha Selim (Iraq, 1927-2008). From the private collection of Sheikh Mohammed Bin Rashid Al Maktoum
  • Shaikha Al Mazrou's 'Visual Space', a 2021 work, on view at When Images Speak. From the private collection of Sheikha Latifa bint Mohammed bin Rashid Al Maktoum
    Shaikha Al Mazrou's 'Visual Space', a 2021 work, on view at When Images Speak. From the private collection of Sheikha Latifa bint Mohammed bin Rashid Al Maktoum
  • Gazbia Sirry, 'The Six Refugees' (1960). From the private collection of Sheikh Mohammed Bin Rashid Al Maktoum
    Gazbia Sirry, 'The Six Refugees' (1960). From the private collection of Sheikh Mohammed Bin Rashid Al Maktoum
  • Amine El Bacha's 'Mediterranee' (2004). From the private collection of Sheikh Mohammed bin Rashid Al Maktoum
    Amine El Bacha's 'Mediterranee' (2004). From the private collection of Sheikh Mohammed bin Rashid Al Maktoum
  • An untitled work by Ayman Baalbaki from the 'Mulatham' series, 2012. Victor Besa / The National
    An untitled work by Ayman Baalbaki from the 'Mulatham' series, 2012. Victor Besa / The National
  • 'Yasmin' (2020), by Afifa Aleiby. Victor Besa / The National
    'Yasmin' (2020), by Afifa Aleiby. Victor Besa / The National
  • Abstract works on view at When Images Speak. Victor Besa / The National
    Abstract works on view at When Images Speak. Victor Besa / The National
  • A work by Iraqi artist Nouri Al Rawi. Victor Besa / The National
    A work by Iraqi artist Nouri Al Rawi. Victor Besa / The National
  • Abdallah Benanteur's 'Les quatre elements' (1992). Victor Besa / The National
    Abdallah Benanteur's 'Les quatre elements' (1992). Victor Besa / The National
  • Works by Jaber Alwan, left, and Ahmed Alsoudani. Victor Besa / The National
    Works by Jaber Alwan, left, and Ahmed Alsoudani. Victor Besa / The National
  • An untitled work by Lebanese artist Saliba Douaihy. Victor Besa / The National
    An untitled work by Lebanese artist Saliba Douaihy. Victor Besa / The National

The UAE as a cultural hub

The latest announcement comes as the UAE continues to strengthen its standing as a global hub for culture.

This month Abu Dhabi was designated a Unesco City of Music.

The UAE capital was granted the distinction by the Unesco Creative Cities Network, a programme launched by the UN agency to promote co-operation among cities recognised as cultural hubs regionally and internationally.

Abu Dhabi joins more than 50 participating cities, including Liverpool in England, Ramallah in Palestine, Spain's Seville and the German city of Mannheim.

In December Dubai will also host the World Conference on Creative Economy.

Taking place from December 7 to 9, at Expo 2020 Dubai, the event will bring together global experts in the fields of design, heritage, the media, public policy, technology and business, for a series of speeches, panel discussions, case studies, artist talks and performances.

Follow the latest updates on Expo 2020 Dubai here

In announcing the event at the Culture Summit Abu Dhabi in March, Noura Al Kaabi, Minister of Culture and Youth, said: “The core objective behind all the measures is to set up the foundations to aggregate, measure and nurture the sector in the UAE, and to ensure the provision of a required framework and policies for a thriving cultural sector.”

  • Sheikh Zayed Grand Mosque seen from Wahat Al Karama on a cloudy day in Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Grand Mosque seen from Wahat Al Karama on a cloudy day in Abu Dhabi. Victor Besa / The National
  • Real estate company Aldar's headquarters in Abu Dhabi. It is the first circular building of its kind in the Middle East. Victor Besa / The National
    Real estate company Aldar's headquarters in Abu Dhabi. It is the first circular building of its kind in the Middle East. Victor Besa / The National
  • Capital Gate tower, developed in Abu Dhabi by Adnec, is more than 160 metres tall. Photo: Adnec
    Capital Gate tower, developed in Abu Dhabi by Adnec, is more than 160 metres tall. Photo: Adnec
  • Emirates Palace, pictured at sunset, in Abu Dhabi. The luxury hotel opened in 2005. Khushnum Bhandari / The National
    Emirates Palace, pictured at sunset, in Abu Dhabi. The luxury hotel opened in 2005. Khushnum Bhandari / The National
  • Adnoc Headquarters in Abu Dhabi. The building was completed in 2014 and is 342 metres tall. Reuters
    Adnoc Headquarters in Abu Dhabi. The building was completed in 2014 and is 342 metres tall. Reuters
  • Hazy weather at Louvre Abu Dhabi. Designed by architect Jean Nouvel, the art museum is the largest in the Gulf. Victor Besa / The National
    Hazy weather at Louvre Abu Dhabi. Designed by architect Jean Nouvel, the art museum is the largest in the Gulf. Victor Besa / The National
  • Despite not yet being open to the public, the Museum of the Future is already a major Dubai landmark. The exterior displays an Arabic poem by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, about the emirate's future. Antonie Robertson / The National
    Despite not yet being open to the public, the Museum of the Future is already a major Dubai landmark. The exterior displays an Arabic poem by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, about the emirate's future. Antonie Robertson / The National
  • Before Burj Khalifa, there was Burj Al Arab. Designed to look like a billowing sail, the luxury hotel opened in 1999. AFP
    Before Burj Khalifa, there was Burj Al Arab. Designed to look like a billowing sail, the luxury hotel opened in 1999. AFP
  • At a height of 829.8 metres, Burj Khalifa has held the record as the world's tallest building since opening in 2010. Chris Whiteoak / The National
    At a height of 829.8 metres, Burj Khalifa has held the record as the world's tallest building since opening in 2010. Chris Whiteoak / The National
  • Dubai Frame became the largest frame in the world when it opened in 2018. It is positioned to represent a window between Dubai's past and future. Pawan Singh / The National
    Dubai Frame became the largest frame in the world when it opened in 2018. It is positioned to represent a window between Dubai's past and future. Pawan Singh / The National
  • The 2,000-seat Dubai Opera was designed by Janus Rostock and opened in 2016 as a multi-format performing arts centre. Alamy
    The 2,000-seat Dubai Opera was designed by Janus Rostock and opened in 2016 as a multi-format performing arts centre. Alamy
  • Located at the apex of the Palm Jumeirah, Dubai, Atlantis, The Palm was the first resort to be built on the artificial island. It opened in 2008 and contains 1,548 rooms – some of which are underwater. AFP
    Located at the apex of the Palm Jumeirah, Dubai, Atlantis, The Palm was the first resort to be built on the artificial island. It opened in 2008 and contains 1,548 rooms – some of which are underwater. AFP
  • One of Sharjah's most photographed landmarks, the Blue Souk is featured on the five dirham note. Antonie Robertson / The National
    One of Sharjah's most photographed landmarks, the Blue Souk is featured on the five dirham note. Antonie Robertson / The National
  • The Khorfakkan Amphitheatre is a relatively new addition to Sharjah, having been inaugurated in December 2020. It can accommodate 3,600 people and sits beside a 45-metre tall waterfall. Pawan Singh / The National
    The Khorfakkan Amphitheatre is a relatively new addition to Sharjah, having been inaugurated in December 2020. It can accommodate 3,600 people and sits beside a 45-metre tall waterfall. Pawan Singh / The National
  • The design of Sharjah's Al Noor Mosque was influenced by an Ottoman-style mosque in Turkey. It can accommodate 2,600 worshippers and opened in 2005. Victor Besa / The National
    The design of Sharjah's Al Noor Mosque was influenced by an Ottoman-style mosque in Turkey. It can accommodate 2,600 worshippers and opened in 2005. Victor Besa / The National
INDIA SQUAD

Virat Kohli (capt), Rohit Sharma, Shikhar Dhawan, KL Rahul, Vijay Shankar, MS Dhoni (wk), Kedar Jadhav, Dinesh Karthik, Yuzvendra Chahal, Kuldeep Yadav, Bhuvneshwar Kumar, Jasprit Bumrah, Hardik Pandya, Ravindra Jadeja, Mohammed Shami

The specs
Engine: 2.0-litre turbo 4-cyl

Transmission: eight-speed auto

Power: 190bhp

Torque: 300Nm

Price: Dh169,900

On sale: now 

Company%20profile
%3Cp%3EName%3A%20Cashew%0D%3Cbr%3EStarted%3A%202020%0D%3Cbr%3EFounders%3A%20Ibtissam%20Ouassif%20and%20Ammar%20Afif%0D%3Cbr%3EBased%3A%20Dubai%2C%20UAE%0D%3Cbr%3EIndustry%3A%20FinTech%0D%3Cbr%3EFunding%20size%3A%20%2410m%0D%3Cbr%3EInvestors%3A%20Mashreq%2C%20others%0D%3C%2Fp%3E%0A
Mia Man’s tips for fermentation

- Start with a simple recipe such as yogurt or sauerkraut

- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.

- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.

- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.

 

Wallabies

Updated team: 15-Israel Folau, 14-Dane Haylett-Petty, 13-Reece Hodge, 12-Matt Toomua, 11-Marika Koroibete, 10-Kurtley Beale, 9-Will Genia, 8-Pete Samu, 7-Michael Hooper (captain), 6-Lukhan Tui, 5-Adam Coleman, 4-Rory Arnold, 3-Allan Alaalatoa, 2-Tatafu Polota-Nau, 1-Scott Sio.

Replacements: 16-Folau Faingaa, 17-Tom Robertson, 18-Taniela Tupou, 19-Izack Rodda, 20-Ned Hanigan, 21-Joe Powell, 22-Bernard Foley, 23-Jack Maddocks.

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.

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
Retirement funds heavily invested in equities at a risky time

Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.

Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.

The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.

The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.

Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.

The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.

• Bloomberg

A little about CVRL

Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.

One of its main goals is to provide permanent treatment solutions for veterinary related diseases. 

The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery. 

Liverpool’s fixtures until end of 2019

Saturday, November 30, Brighton (h)

Wednesday, December 4, Everton (h)

Saturday, December 7, Bournemouth (a)

Tuesday, December 10, Salzburg (a) CL

Saturday, December 14, Watford (h)

Tuesday, December 17, Aston Villa (a) League Cup

Wednesday, December 18, Club World Cup in Qatar

Saturday, December 21, Club World Cup in Qatar

Thursday, December 26, Leicester (a)

Sunday, December 29, Wolves (h)

'Project Power'

Stars: Jamie Foxx, Joseph Gordon-Levitt, Dominique Fishback

Director: ​Henry Joost and Ariel Schulman

Rating: 3.5/5

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

Company name: Play:Date

Launched: March 2017 on UAE Mother’s Day

Founder: Shamim Kassibawi

Based: Dubai with operations in the UAE and US

Sector: Tech 

Size: 20 employees

Stage of funding: Seed

Investors: Three founders (two silent co-founders) and one venture capital fund

The President's Cake

Director: Hasan Hadi

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

Rating: 4/5

UAE%20v%20West%20Indies
%3Cp%3EFirst%20ODI%20-%20Sunday%2C%20June%204%20%0D%3Cbr%3ESecond%20ODI%20-%20Tuesday%2C%20June%206%20%0D%3Cbr%3EThird%20ODI%20-%20Friday%2C%20June%209%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EMatches%20at%20Sharjah%20Cricket%20Stadium.%20All%20games%20start%20at%204.30pm%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EUAE%20squad%3C%2Fstrong%3E%0D%3Cbr%3EMuhammad%20Waseem%20(captain)%2C%20Aayan%20Khan%2C%20Adithya%20Shetty%2C%20Ali%20Naseer%2C%20Ansh%20Tandon%2C%20Aryansh%20Sharma%2C%20Asif%20Khan%2C%20Basil%20Hameed%2C%20Ethan%20D%E2%80%99Souza%2C%20Fahad%20Nawaz%2C%20Jonathan%20Figy%2C%20Junaid%20Siddique%2C%20Karthik%20Meiyappan%2C%20Lovepreet%20Singh%2C%20Matiullah%2C%20Mohammed%20Faraazuddin%2C%20Muhammad%20Jawadullah%2C%20Rameez%20Shahzad%2C%20Rohan%20Mustafa%2C%20Sanchit%20Sharma%2C%20Vriitya%20Aravind%2C%20Zahoor%20Khan%0D%3C%2Fp%3E%0A
Gertrude Bell's life in focus

A feature film

At one point, two feature films were in the works, but only German director Werner Herzog’s project starring Nicole Kidman would be made. While there were high hopes he would do a worthy job of directing the biopic, when Queen of the Desert arrived in 2015 it was a disappointment. Critics panned the film, in which Herzog largely glossed over Bell’s political work in favour of her ill-fated romances.

A documentary

A project that did do justice to Bell arrived the next year: Sabine Krayenbuhl and Zeva Oelbaum’s Letters from Baghdad: The Extraordinary Life and Times of Gertrude Bell. Drawing on more than 1,000 pieces of archival footage, 1,700 documents and 1,600 letters, the filmmakers painstakingly pieced together a compelling narrative that managed to convey both the depth of Bell’s experience and her tortured love life.

Books, letters and archives

Two biographies have been written about Bell, and both are worth reading: Georgina Howell’s 2006 book Queen of the Desert and Janet Wallach’s 1996 effort Desert Queen. Bell published several books documenting her travels and there are also several volumes of her letters, although they are hard to find in print. Original documents are housed at the Gertrude Bell Archive at the University of Newcastle, which has an online catalogue.
 

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
The biog

Hobby: "It is not really a hobby but I am very curious person. I love reading and spend hours on research."

Favourite author: Malcom Gladwell 

Favourite travel destination: "Antigua in the Caribbean because I have emotional attachment to it. It is where I got married."

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

Company Profile 

Founder: Omar Onsi

Launched: 2018

Employees: 35

Financing stage: Seed round ($12 million)

Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners

COMPANY%20PROFILE
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What is graphene?

Graphene is extracted from graphite and is made up of pure carbon.

It is 200 times more resistant than steel and five times lighter than aluminum.

It conducts electricity better than any other material at room temperature.

It is thought that graphene could boost the useful life of batteries by 10 per cent.

Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.

Updated: November 21, 2021, 5:17 AM