Etihad Airways and Henan Province Airport Group, parent company of the Zhengzhou Xinzheng Airport — a major domestic aviation hub and the gateway to central China — have signed a preliminary agreement to boost air cargo ties.
The pact includes plans for Etihad Airways to operate regular cargo services between Abu Dhabi International Airport (AUH) and Zhengzhou Xinzheng International Airport (CGO) to create an air Silk Road between Henan province and Abu Dhabi, the airline said in a statement on Monday.
“Etihad is very excited to see the potential to further expand its cargo footprint in China, and to create the 'Air Silk Road’ between the emirate and central China together with Henan Province Airport Group,” Martin Drew, senior vice president of sales and cargo at Etihad Airways, said.
“This will greatly improve the diversification of product sales and cargo distribution channels in this region and strengthen economic and trade links between the UAE and China, and beyond.”
The move comes amid booming global demand for air freight after the Covid-19 pandemic grounded the large, wide-body passenger aircraft used for carrying cargo.
Global demand, measured in cargo tonne-kilometres, was up 9.4 per cent in October, compared to the same month in 2019, the latest figures from International Air Transport Association show.
Etihad Airways' cargo revenue jumped 56 per cent annually in the first half of 2021 to $800 million as it carried 365.5 tonnes of freight, an increase of 44 per cent from the same period a year ago, partially helping the airline to halve its losses for the period.
Since the start of the pandemic, Etihad Cargo has operated 1,042 flights out of Shanghai and Beijing, carrying more than 65,000 tonnes on its Boeing 777 freighters and passenger freighters, Mr Drew said. Half of the flights carried medical supplies to support the global fight against Covid-19 and equip frontline medical professionals.
Etihad Cargo has restored 90 per cent of its destinations compared with the same period in 2019, while its capacity has increased by 20 per cent.
The partnership will help the two parties “to explore various opportunities under the ‘Air Silk Road’ aviation initiative inspired by the China-proposed ‘Belt and Road Initiative’", Kang Xingzhen, chairman of Henan Airport Group, said.
The deal also covers the scope of co-operation between the two parties to build the CGO airport into an air freight hub in the region and to diversify product sales and cargo distribution channels at Zhengzhou Xinzheng International Airport.
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)
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
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
