• Israeli artillery in action as the escalation continues between the Israeli army and Hamas at the Gaza Border. EPA
    Israeli artillery in action as the escalation continues between the Israeli army and Hamas at the Gaza Border. EPA
  • Mourners attend the funeral of Palestinian Rashid Abu Ara, 16, who was killed during clashes with Israeli troops in village of Aqaba near Nablus, north of the West Bank. AFP
    Mourners attend the funeral of Palestinian Rashid Abu Ara, 16, who was killed during clashes with Israeli troops in village of Aqaba near Nablus, north of the West Bank. AFP
  • A heavily damaged house in a residential area in the city of Yehud, in central Israel. AFP
    A heavily damaged house in a residential area in the city of Yehud, in central Israel. AFP
  • Parents of Palestinian man Abdulsalam Al-Ghazali, who was killed amid a flare-up of Israeli-Palestinian violence, react during their son funeral in Gaza City. Reuters
    Parents of Palestinian man Abdulsalam Al-Ghazali, who was killed amid a flare-up of Israeli-Palestinian violence, react during their son funeral in Gaza City. Reuters
  • Residents look at a car that was hit in an Israeli air strike, on the main road in Gaza City. Three people who were in the vehicle died. AP
    Residents look at a car that was hit in an Israeli air strike, on the main road in Gaza City. Three people who were in the vehicle died. AP
  • Palestinians mourn the death of relatives outside a hospital in Beit Lahia following a series of Israeli air strikes on the Hamas-controlled Gaza Strip. AFP
    Palestinians mourn the death of relatives outside a hospital in Beit Lahia following a series of Israeli air strikes on the Hamas-controlled Gaza Strip. AFP
  • Israeli Arabs treat a sheep that was wounded by a rocket fired from the Gaza Strip, where nearby a father and his daughter were killed, in the village of Dahmash near the Israeli city of Lod. AP
    Israeli Arabs treat a sheep that was wounded by a rocket fired from the Gaza Strip, where nearby a father and his daughter were killed, in the village of Dahmash near the Israeli city of Lod. AP
  • An injured man receives treatment at the scene after a rocket launched from the Gaza strip struck in Giv'atayim, Israel. Getty
    An injured man receives treatment at the scene after a rocket launched from the Gaza strip struck in Giv'atayim, Israel. Getty
  • A man looks at the damage in the aftermath of overnight Israeli air strikes on Gaza. EPA
    A man looks at the damage in the aftermath of overnight Israeli air strikes on Gaza. EPA
  • A Jewish man at a burnt-out synagogue after overnight riots between Arab and Jewish residents in Lod, Israel. EPA
    A Jewish man at a burnt-out synagogue after overnight riots between Arab and Jewish residents in Lod, Israel. EPA
  • Relatives of Palestinian Rashid Abu Arra, 16, who was killed during clashes with Israeli troops in the village of Aqqaba near Nablus at the hospital morgue in Tubas in the occupied West Bank. AFP
    Relatives of Palestinian Rashid Abu Arra, 16, who was killed during clashes with Israeli troops in the village of Aqqaba near Nablus at the hospital morgue in Tubas in the occupied West Bank. AFP
  • Rubble from the Hanadi tower after an Israeli air strike on Gaza City. EPA
    Rubble from the Hanadi tower after an Israeli air strike on Gaza City. EPA
  • Israeli security forces pass burnt-out vehicles in Holon near Tel Aviv. AFP
    Israeli security forces pass burnt-out vehicles in Holon near Tel Aviv. AFP
  • A huge crater in Gaza City caused by the Israeli air strikes. AFP
    A huge crater in Gaza City caused by the Israeli air strikes. AFP
  • A broken mannequin near a tower building in Gaza City that was hit by Israeli air strikes during the flare-up of Israeli-Palestinian violence. Reuters
    A broken mannequin near a tower building in Gaza City that was hit by Israeli air strikes during the flare-up of Israeli-Palestinian violence. Reuters
  • Fires at sunrise in Khan Yunish after an Israeli air strike on targets in the southern Gaza strip. AFP
    Fires at sunrise in Khan Yunish after an Israeli air strike on targets in the southern Gaza strip. AFP
  • Palestinian rescuers move an elderly woman from a building in Gaza City after Israeli air strikes in the area. AP Photo
    Palestinian rescuers move an elderly woman from a building in Gaza City after Israeli air strikes in the area. AP Photo
  • Palestinians evacuate after their tower building was hit by Israeli air strikes, in Gaza City. Reuters
    Palestinians evacuate after their tower building was hit by Israeli air strikes, in Gaza City. Reuters
  • The remains of a rocket, destroyed by Israel's Iron Dome aerial defence system, which was fired by the Palestinian Islamist group Hamas from the Gaza strip. AFP
    The remains of a rocket, destroyed by Israel's Iron Dome aerial defence system, which was fired by the Palestinian Islamist group Hamas from the Gaza strip. AFP
  • An Iron Dome aerial defence system battery is seen in the foreground as fire rages at Ashkelon's refinery, which was hit by Hamas rockets the previous day, in the southern Israeli city. AFP
    An Iron Dome aerial defence system battery is seen in the foreground as fire rages at Ashkelon's refinery, which was hit by Hamas rockets the previous day, in the southern Israeli city. AFP
  • Palestinians stand next to the remains of a tower building which was destroyed in Israeli air strikes, in Gaza City. Reuters
    Palestinians stand next to the remains of a tower building which was destroyed in Israeli air strikes, in Gaza City. Reuters
  • A Palestinian man holds an injured girl awaiting medical care at al-Shifa hospital, after an Israeli air strike in Gaza city. AFP
    A Palestinian man holds an injured girl awaiting medical care at al-Shifa hospital, after an Israeli air strike in Gaza city. AFP
  • People take shelter in the basement of a building in the Israeli city of Tel Aviv as alarm sirens wailed after 3:00 a.m. after rockets were launched towards Israel from the Gaza Strip. AFP
    People take shelter in the basement of a building in the Israeli city of Tel Aviv as alarm sirens wailed after 3:00 a.m. after rockets were launched towards Israel from the Gaza Strip. AFP
  • Israeli border police vehicles drive past an extinguished burnt vehicle in Lod near Tel Aviv, after rockets were launched towards Israel from the Gaza Strip controlled by the Palestinian Hamas movement. AFP
    Israeli border police vehicles drive past an extinguished burnt vehicle in Lod near Tel Aviv, after rockets were launched towards Israel from the Gaza Strip controlled by the Palestinian Hamas movement. AFP
  • An Israeli police officer gestures to a Palestinian woman and her daughter, frightened by clashes outside of the Damascus Gate to the Old City of Jerusalem. AP Photo
    An Israeli police officer gestures to a Palestinian woman and her daughter, frightened by clashes outside of the Damascus Gate to the Old City of Jerusalem. AP Photo
  • Israeli firefighters walk by a car with a fallen tree on it after it was hit by a rocket fired from Gaza towards Holon, Israel. Reuters
    Israeli firefighters walk by a car with a fallen tree on it after it was hit by a rocket fired from Gaza towards Holon, Israel. Reuters
  • Palestinians inspect a destroyed Hanadi tower after Israeli airstrike in Gaza City. EPA
    Palestinians inspect a destroyed Hanadi tower after Israeli airstrike in Gaza City. EPA
  • Arab Israelis gesture and wave Palestinian flags during the funeral of Mousa Hassouna in the central Israeli city of Lod near Tel Aviv. Hassouna was killed during clashes with Israeli security following an anti-Israel demonstration over tensions in Jerusalem. AFP
    Arab Israelis gesture and wave Palestinian flags during the funeral of Mousa Hassouna in the central Israeli city of Lod near Tel Aviv. Hassouna was killed during clashes with Israeli security following an anti-Israel demonstration over tensions in Jerusalem. AFP
  • Rescuers rush to help among the rubble in front of Al Sharouk tower, that collapsed after being hit by an Israeli air strike, in Gaza city on Wednesday. AFP
    Rescuers rush to help among the rubble in front of Al Sharouk tower, that collapsed after being hit by an Israeli air strike, in Gaza city on Wednesday. AFP
  • Palestinians view the smouldering remains of Al Sharouk tower, which collapsed after being hit by an Israeli air strike. AFP
    Palestinians view the smouldering remains of Al Sharouk tower, which collapsed after being hit by an Israeli air strike. AFP
  • Smoke and flames rise from Al Sharouk tower, as it collapses after being hit by an Israeli air strike in Gaza City. AFP
    Smoke and flames rise from Al Sharouk tower, as it collapses after being hit by an Israeli air strike in Gaza City. AFP
  • Al Sharouk tower block collapses after being hit by an Israeli air strike. AFP
    Al Sharouk tower block collapses after being hit by an Israeli air strike. AFP
  • A man peers out to survey destroyed buildings in Gaza city, following Israeli air strikes. AFP
    A man peers out to survey destroyed buildings in Gaza city, following Israeli air strikes. AFP
  • A plume of black smoke rises into the air in Khan Yunis, in the southern Gaza Strip, following an Israeli air strike on the area, which is controlled by the militant Hamas movement. AFP
    A plume of black smoke rises into the air in Khan Yunis, in the southern Gaza Strip, following an Israeli air strike on the area, which is controlled by the militant Hamas movement. AFP
  • Parts of a broken mannequin lie scattered near a building that was hit by Israeli air strikes in Gaza city. Reuters
    Parts of a broken mannequin lie scattered near a building that was hit by Israeli air strikes in Gaza city. Reuters
  • A Palestinian woman mourns her son Rasheed Abu Arra, who was killed during confrontations with Israeli forces, at his funeral in the village of Aqaba, near the West Bank town of Tubas. AP Photo
    A Palestinian woman mourns her son Rasheed Abu Arra, who was killed during confrontations with Israeli forces, at his funeral in the village of Aqaba, near the West Bank town of Tubas. AP Photo
  • Women mourn at the funeral of Palestinian Rasheed Abu Arra, who was killed during confrontations with Israeli forces, in the town of Aqaba, near Tubas, in the West Bank. Reuters
    Women mourn at the funeral of Palestinian Rasheed Abu Arra, who was killed during confrontations with Israeli forces, in the town of Aqaba, near Tubas, in the West Bank. Reuters
  • Israel's Iron Dome air defence system intercepts a rocket launched from the Gaza Strip, above the southern Israeli city of Ashdod. AFP
    Israel's Iron Dome air defence system intercepts a rocket launched from the Gaza Strip, above the southern Israeli city of Ashdod. AFP

Gigi and Bella Hadid, Huda Kattan and Susan Sarandon among stars to speak out in solidarity with Palestine: 'The world is watching'


Sophie Prideaux
  • English
  • Arabic

A number of celebrities have taken to social media to voice their solidarity with the Palestinian families facing evictions in the Jerusalem neighbourhood of Sheikh Jarrah as violent clashes continue.

At least 53 Palestinians, including 14 children, have been killed in Gaza and the occupied West Bank, and 320 wounded, mostly as a result of air strikes.

The violence has sparked protests in major cities around the world, and caused a number of influential stars to use their voice on social media to speak out in support of the Palestinian people.

Huda Kattan 

The beauty mogul has uploaded videos to her personal account as well as her business account, Huda Beauty, speaking out in support of Palestine.

In one post, she writes that she isn't sure if her post will be "deleted, hidden, or if it will be unpopular" before sharing a three-minute video of herself discussing what's happening in Israel and how the world needs to unite to fight injustice.

In the other post on Huda Beauty, there's a video showing cities around the world marching in solidarity with Palestine, with a long caption accompanying the post.

"These past days I've been extremely speechless seeing the things people from Palestine are experiencing and have been experiencing for years and years!
"It was about time the world stands up for humanity and it truly touches my heart seeing people from this generation going to the streets and spreading worldwide awareness about the situation in Palestine. At this point it's the world against politics, the people against the government and we'll keep fighting until Palestine is free."

Gigi Hadid

The supermodel, who is of Palestinian heritage, shared a post on Instagram on Tuesday, which has since gone viral. “One cannot advocate for racial equality, LGBT and women’s rights, condemn corrupt and abusive regimes and other injustices yet choose to ignore the Palestinian oppression. It does not add up,” the post reads. “You cannot pick and choose whose human rights matter more.”

Bella Hadid

Her younger sister and fellow supermodel Bella Hadid also shared some words to her Instagram Stories. “I feel the pain of my ancestors. I cry for them. I cry for my Palestinian brothers and sisters there now, feeling unsafe and scared,” she said.

She also later posted a black and white image to her Instagram grid, which read: "Future generations will look back in disbelief and wonder how we allowed the Palestinian suffering to continue for so long. A human tragedy unfolding right in front of our eyes.

“Politicians stutter neutral words in fear of being reprimanded, whilst the world remains silent to avoid offending the wrong people.”

Dua Lipa

Popstar Dua Lipa, whose boyfriend is Anwar Hadid, the younger brother of Bella and Gigi, shared her thoughts on her Instagram stories. "The world needs to intervene and put a stop to this," she wrote.

Anne Hathaway

Actress Anne Hathaway shared a message on her Instagram page calling for a de-escalation of the violence. "It's breaking my heart to see the terrible, escalating violence in Palestine and Israel, the bloodshed, the deaths, and the children killed," she wrote.

"I join UN Women and all those calling for immediate de-escalation of the conflict. Everyone has the right to live in peace and dignity."

Mark Ruffalo

The Hulk actor took to Twitter to call for sanctions to help free the Palestinian people. "1500 Palestinians face expulsion in #Jerusalem," he wrote. "200 protesters have been injured. 9 children have been killed. Sanctions on South Africa helped free its black people – it's time for sanctions on Israel to free Palestinians. Join the call. #SheikhJarrah"

Bernice King

The daughter of Martin Luther King Jr wrote in a tweet: “Bombing children and targeting houses of worship is wrong.

“I pray that I never pledge allegiance to any ideology or methodology that would stop me from believing that.”

Susan Sarandon

Actress and activist Susan Sarandon wrote in a tweet supporting the Palestinian people: "Standing in solidarity with the Palestinian people who are facing ethnic cleansing and being terrorised at the hands of the Israeli government and Jewish settler organisations.

“The world is watching.”

Paris Hilton

The heiress and reality television star has tweeted several times to express her sadness at the news coming out of Palestine. Sharing a video of a young girl speaking after her neighbours were killed in an airstrike, she wrote: "This hurts my heart. No one should have to live in fear. My heart goes out to the little girl and the other children around her."

She later tweeted: "Sending love and light around the world. Praying for peace to make the world a better place for all."

Follow the latest updates as tensions escalate in Israel and Gaza here

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
%E2%80%98FSO%20Safer%E2%80%99%20-%20a%20ticking%20bomb
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Results

6pm: Dubai Trophy – Conditions (TB) $100,000 (Turf) 1,200m 

Winner: Silent Speech, William Buick (jockey), Charlie Appleby
(trainer) 

6.35pm: Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m 

Winner: Island Falcon, Frankie Dettori, Saeed bin Suroor 

7.10pm: UAE 2000 Guineas Trial – Conditions (TB) $60,000 (Dirt)
1,400m 

Winner: Rawy, Mickael Barzalona, Salem bin Ghadayer 

7.45pm: Al Rashidiya – Group 2 (TB) $180,000 (T) 1,800m 

Winner: Desert Fire, Hector Crouch, Saeed bin Suroor 

8.20pm: Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m 

Winner: Naval Crown, William Buick, Charlie Appleby 

8.55pm: Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m 

Winner: Al Tariq, Pat Dobbs, Doug Watsons 

9.30pm: Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m 

Winner: Dubai Icon, Patrick Cosgrave, Saeed bin Suroor  

Bridgerton%20season%20three%20-%20part%20one
%3Cp%3E%3Cstrong%3EDirectors%3A%20%3C%2Fstrong%3EVarious%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Nicola%20Coughlan%2C%20Luke%20Newton%2C%20Jonathan%20Bailey%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A

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.”

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
THE BIO

Ms Davison came to Dubai from Kerala after her marriage in 1996 when she was 21-years-old

Since 2001, Ms Davison has worked at many affordable schools such as Our Own English High School in Sharjah, and The Apple International School and Amled School in Dubai

Favourite Book: The Alchemist

Favourite quote: Failing to prepare is preparing to fail

Favourite place to Travel to: Vienna

Favourite cuisine: Italian food

Favourite Movie : Scent of a Woman

 

 

Stage result

1. Jasper Philipsen (Bel) Alpecin-Fenix 4:42:34

2. Sam Bennett (Irl) Bora-Hansgrohe

3. Elia Viviani (Ita) Ineos Grenadiers

4. Dylan Groenewegen (Ned) BikeExchange-Jayco

5. Emils Liepins (Lat) Trek-Segafredo

6. Arnaud Demare (Fra) Groupama-FDJ

7. Max Kanter (Ger) Movistar Team

8. Olav Kooij (Ned) Jumbo-Visma

9. Tom Devriendt (Bel) Intermarché-Wanty-Gobert Matériaux

10. Pascal Ackermann (Ger) UAE Team Emirate

Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

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%3Cp%3E38.7C%20(101.7F)%20set%20in%20Cambridge%20in%202019%3C%2Fp%3E%0A
Tightening the screw on rogue recruiters

The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.

 Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.

A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.

The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.

The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.

Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.

Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment

But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.

Avengers: Endgame

Directors: Anthony Russo, Joe Russo

Starring: Robert Downey Jr, Chris Evans, Scarlett Johansson, Chris Hemsworth, Josh Brolin

4/5 stars 

Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

AIR
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EBen%20Affleck%3Cbr%3E%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EMatt%20Damon%2C%20Jason%20Bateman%2C%20Ben%20Affleck%2C%20Viola%20Davis%3Cbr%3E%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Company profile

Date started: December 24, 2018

Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer

Based: Dubai Media City

Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)

Sector: ConsumerTech and FinTech

Cashflow: Almost $1 million a year

Funding: Series A funding of $2.5m with Series B plans for May 2020

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

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

UAE currency: the story behind the money in your pockets

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

The specs: 2018 Ford F-150

Price, base / as tested: Dh173,250 / Dh178,500

Engine: 5.0-litre V8

Power: 395hp @ 5,000rpm

Torque: 555Nm @ 2,750rpm

Transmission: 10-speed automatic

Fuel consumption, combined: 12.4L / 100km

info-box

COMPANY PROFILE

Company name: Happy Tenant

Started: January 2019

Co-founders: Joe Moufarrej and Umar Rana

Based: Dubai

Sector: Technology, real-estate

Initial investment: Dh2.5 million

Investors: Self-funded

Total customers: 4,000

Founders: Ines Mena, Claudia Ribas, Simona Agolini, Nourhan Hassan and Therese Hundt

Date started: January 2017, app launched November 2017

Based: Dubai, UAE

Sector: Private/Retail/Leisure

Number of Employees: 18 employees, including full-time and flexible workers

Funding stage and size: Seed round completed Q4 2019 - $1m raised

Funders: Oman Technology Fund, 500 Startups, Vision Ventures, Seedstars, Mindshift Capital, Delta Partners Ventures, with support from the OQAL Angel Investor Network and UAE Business Angels

Business Insights
  • Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
  • The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
  • US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
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FIGHT CARD

From 5.30pm in the following order:

Featherweight

Marcelo Pontes (BRA) v Azouz Anwar (EGY)

Catchweight 90kg

Moustafa Rashid Nada (KSA) v Imad Al Howayeck (LEB)

Welterweight

Mohammed Al Khatib (JOR) v Gimbat Ismailov (RUS)

Flyweight (women)

Lucie Bertaud (FRA) v Kelig Pinson (BEL)

Lightweight

Alexandru Chitoran (BEL) v Regelo Enumerables Jr (PHI)

Catchweight 100kg

Mohamed Ali (EGY) v Marc Vleiger (NED)

Featherweight

James Bishop (AUS) v Mark Valerio (PHI)

Welterweight

Gerson Carvalho (BRA) v Abdelghani Saber (EGY)

Middleweight 

Bakhtiyar Abbasov (AZE) v Igor Litoshik (BLR)

Bantamweight:

Fabio Mello (BRA) v Mark Alcoba (PHI)

Welterweight

Ahmed Labban (LEB) v Magomedsultan Magemedsultanov (RUS)

Bantamweight

Trent Girdham (AUS) v Jayson Margallo (PHI)

Lightweight

Usman Nurmagomedov (RUS) v Roman Golovinov (UKR)

Middleweight

Tarek Suleiman (SYR) v Steve Kennedy (AUS)

Lightweight

Dan Moret (USA) v Anton Kuivanen (FIN)