The UAE Ministry of Defence has awarded contracts worth Dh5.23 billion ($1.42bn) on the first day of the Dubai Airshow, with the biggest deal of the day going to Progressive Technologies.
The ministry signed a Dh2.67bn deal with Progressive for supply of ammunition for the UAE Air Force and Air Defence (Afad), a ministry representative told a media briefing on Sunday.
The UAE also signed a Dh2.46bn contract with Airbus Defence and Space to procure two Airbus 330 Multi-Role Tanker Transport aircraft for the UAE Air Force, which will be in addition to the three aircraft the Air Force is already operating, said Maj Gen Staff Pilot Ishaq Al Balushi, head of the ministry's Executive Directorate of Industries and Development of Defence Capabilities.
The ministry also signed two deals with France’s Thales for communication systems and the supply of spare parts and maintenance, according to ministry spokeswoman Lt Col Sarah Al Hajri.
The Dubai Airshow taking place this week in person is the first major global aerospace exhibition in two years since the aviation industry was hit by the worst crisis in its history and is a bellwether for the sector's rebound from the Covid-19 pandemic.
This year's civil and military exhibition – a major display of products from jumbo jets to military drones – was held against the backdrop of the pandemic and is significant because it indicates a return to some degree of normality in an industry profoundly changed by the crisis.
About 1,200 companies are exhibiting at this year's air show, of which 371 are new exhibitors and 80 are start-ups.
Dubai Airshow over the years - in pictures:
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The UAE's Air Force Aerobatic Team, Al-Fursan, performs stunts at the Dubai Airshow in 2019. Karim Sahib / AFP -

Visitors arrive at the Dubai Airshow in 2019. Karim Sahib / AFP -

The Royal Air Force, UK Trade and Investment stand at the air show in 2013. Antonie Robertson / The National -

Guests walk past the flydubai B737-700 BBJ plane at the show in 2013. Sarah Dea / The National -

Visitors walk past the Emirates Airbus A380-800 plane in 2013. Sarah Dea / The National -

Sheikh Ahmed Bin Saeed Al Maktoum, President of the Department of Civil Aviation, CEO and Chairman of The Emirates Group and Chairman of Dubai World, steps out from the Legacy 650 by Embraer at the show in 2013. Sarah Dea / The National -

A media flight onboard the Airbus Military A400M MRTT in 2013. Christopher Pike / The National -

Planes form a line at the air show. Pawan Singh / The National -

The Pakistan Aeronautical Complex stand at the 2015 Dubai Airshow. Antonie Robertson / The National -

Sheikh Ahmed Bin Saeed examines a Bell helicopter. Pawan Singh / The National -

An Iomax Arch Angel border security aircraft at the 2015 Dubai Airshow. Antonie Robertson / The National -

The 2015 Dubai Airshow. Antonie Robertson / The National -

Crowds flock to the show in 2015. Antonie Robertson / The National -

A media flight onboard the Airbus Military A400M MRTT in 2013. Christopher Pike / The National -

Sheikh Ahmed Bin Saeed visits the show. Pawan Singh / The National -

Visitors walk by a Hawk Advanced Jet Trainer model at the BAE Systems stand. Sarah Dea / The National -

Visitors attend the show in 2014. Pawan Singh / The National -

Back in 2005, the Airbus A380, sporting the colors of air carrier Emirates, takes off. AFP -

A LEAP high-bypass turbofan engine on display in 2013. Sarah Dea / The National -

An Emirates Airline A380 leads the Al Fursan aerobatic display team during the opening ceremony in 2017. AP Photo / Kamran Jebreili -

The Al Fursan team puts on a dazzling display in 2019. Reuters / Christopher Pike -
A Dubai Airshow press briefing gets under way, led by Sheikh Ahmed Bin Saeed. Photo: Tarasus
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
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
'Laal Kaptaan'
Director: Navdeep Singh
Stars: Saif Ali Khan, Manav Vij, Deepak Dobriyal, Zoya Hussain
Rating: 2/5
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
Walls
Louis Tomlinson
3 out of 5 stars
(Syco Music/Arista Records)
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
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
'Worse than a prison sentence'
Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
All or Nothing
Amazon Prime
Four stars
The%20specs
The Abu Dhabi Awards explained:
What are the awards? They honour anyone who has made a contribution to life in Abu Dhabi.
Are they open to only Emiratis? The awards are open to anyone, regardless of age or nationality, living anywhere in the world.
When do nominations close? The process concludes on December 31.
How do I nominate someone? Through the website.
When is the ceremony? The awards event will take place early next year.
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
More on Quran memorisation:
THE BIO
Age: 30
Favourite book: The Power of Habit
Favourite quote: "The world is full of good people, if you cannot find one, be one"
Favourite exercise: The snatch
Favourite colour: Blue
While you're here
Hussein Ibish: There are reasons for Democrats and Republicans to be happy
Rashmee Roshan Lall: Who are the women driving Joe Biden's success?
While you're here
Normal People
Sally Rooney, Faber & Faber
The specs: 2018 Ducati SuperSport S
Price, base / as tested: Dh74,900 / Dh85,900
Engine: 937cc
Transmission: Six-speed gearbox
Power: 110hp @ 9,000rpm
Torque: 93Nm @ 6,500rpm
Fuel economy, combined: 5.9L / 100km
Porsche Macan T: The Specs
Engine: 2.0-litre 4-cyl turbo
Power: 265hp from 5,000-6,500rpm
Torque: 400Nm from 1,800-4,500rpm
Transmission: 7-speed dual-clutch auto
Speed: 0-100kph in 6.2sec
Top speed: 232kph
Fuel consumption: 10.7L/100km
On sale: May or June
Price: From Dh259,900
While you're here
Off-roading in the UAE: How to checklist
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
Huroob Ezterari
Director: Ahmed Moussa
Starring: Ahmed El Sakka, Amir Karara, Ghada Adel and Moustafa Mohammed
Three stars
Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
More from Con Coughlin
The specs: 2018 Opel Mokka X
Price, as tested: Dh84,000
Engine: 1.4L, four-cylinder turbo
Transmission: Six-speed auto
Power: 142hp at 4,900rpm
Torque: 200Nm at 1,850rpm
Fuel economy, combined: 6.5L / 100km
FIXTURES
UAE’s remaining fixtures in World Cup qualification R2
Oct 8: Malaysia (h)
Oct 13: Indonesia (a)
Nov 12: Thailand (h)
Nov 17: Vietnam (h)
Last 10 NBA champions
2017: Golden State bt Cleveland 4-1
2016: Cleveland bt Golden State 4-3
2015: Golden State bt Cleveland 4-2
2014: San Antonio bt Miami 4-1
2013: Miami bt San Antonio 4-3
2012: Miami bt Oklahoma City 4-1
2011: Dallas bt Miami 4-2
2010: Los Angeles Lakers bt Boston 4-3
2009: Los Angeles Lakers bt Orlando 4-1
2008: Boston bt Los Angeles Lakers 4-2

