Desert Sting DS-16 precision-guided glide weapon by Halcon on display at the Dubai Airshow. AFP
Desert Sting DS-16 precision-guided glide weapon by Halcon on display at the Dubai Airshow. AFP
Desert Sting DS-16 precision-guided glide weapon by Halcon on display at the Dubai Airshow. AFP
Desert Sting DS-16 precision-guided glide weapon by Halcon on display at the Dubai Airshow. AFP

Dubai Airshow 2021: Edge secures $880m deal from UAE Armed Forces for its Halcon unit


Shweta Jain
  • English
  • Arabic

Halcon, an end-to-end manufacturer of precision-guided munitions, secured a Dh3.2 billion ($880 million) contract from the UAE Armed Forces for its Thunder and Desert Sting range of precision-guided munitions.

The order received by Halcon, a unit of UAE defence conglomerate Edge, is among the largest issued by the UAE Armed Forces, the company said in a statement on Monday.

“This is a significant contract on a global scale for this type of weapons system. It is with a great sense of responsibility for having been entrusted with this undertaking that we move ahead in confidence that the performance of our systems will fully justify the UAE Armed Forces’ trust in us,” Saeed Al Mansoori, chief executive of Halcon, said.

The order comes a day after another unit of Edge, GAL, an aircraft maintenance, repair and overhaul service (MRO) provider, secured a Dh11bn contract from the UAE Air Force and Air Defence (Afad), marking the biggest defence deal on the first day of the Dubai Airshow.

Military and civil contracts worth billions of dollars are expected to be finalised at the Dubai Airshow taking place this week. This year's civil and military exhibition – a major display of products from jumbo jets to military drones – is the first major in-person global aerospace exhibition in two years since the aviation industry was hit by Covid-19, considered the worst crisis in its history.

Halcon plans to manufacture the newly developed Desert Sting warheads at Tawazun Industrial Park in Abu Dhabi, it said.

The Desert Sting is a lightweight, guided weapon with a custom-designed warhead that operates with a Halcon-designed stores interface unit (SIU) and can be deployed on multiple weapon racks on aircraft and unmanned aerial vehicles.

Thunder range consists of different variants of aerial munitions. Photo: Edge
Thunder range consists of different variants of aerial munitions. Photo: Edge

The Thunder range consists of different variants of aerial munitions (distinguished by weight and warhead size) all based on the same technology building blocks.

The contract confirms the “combat proven capabilities of Halcon’s family of guided weapons, having achieved the rigorous requirements demanded from the UAE Armed Forces”, the statement said.

Halcon has autonomous technology capabilities in areas including guidance and control, navigation, aerodynamic design, weapon flight control computers, warheads and servo systems. The company is a part of the Missiles & Weapons cluster within Edge, which ranks among the top 25 military suppliers in the world.

Separately, Earth, another unit of Edge, signed a preliminary agreement with Lockheed Martin to modernise aviation capabilities of UAE pilots who fly Apache helicopters, which are used in advanced warfare by the military.

____________________

Dubai Airshow 2021 - in pictures

  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, watches aerobatic displays at Dubai Airshow. Photo: Dubai Media Office
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, watches aerobatic displays at Dubai Airshow. Photo: Dubai Media Office
  • Sheikh Mohammed visited the Dubai Airshow on day one. Photo: Dubai Media Office
    Sheikh Mohammed visited the Dubai Airshow on day one. Photo: Dubai Media Office
  • Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, receives official delegations at Dubai Airshow. Photo: Dubai Media Office
    Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, receives official delegations at Dubai Airshow. Photo: Dubai Media Office
  • Sheikh Mohammed receives ministers of defence and chiefs of staff of countries participating in Dubai Airshow. Photo: Dubai Media Office
    Sheikh Mohammed receives ministers of defence and chiefs of staff of countries participating in Dubai Airshow. Photo: Dubai Media Office
  • The Russian Knights perform. Chris Whiteoak / The National
    The Russian Knights perform. Chris Whiteoak / The National
  • Telal International design and manufacture pilot and steward uniforms. The company is exhibiting at the airshow for the first time. Chris Whiteoak / The National
    Telal International design and manufacture pilot and steward uniforms. The company is exhibiting at the airshow for the first time. Chris Whiteoak / The National
  • A visitor takes pictures of the Russian Knights. Chris Whiteoak / The National
    A visitor takes pictures of the Russian Knights. Chris Whiteoak / The National
  • Dubai Airshow begins at Dubai World Central. Photo: Dubai Media Office
    Dubai Airshow begins at Dubai World Central. Photo: Dubai Media Office
  • Crowds at the Dubai Airshow. Chris Whiteoak / The National
    Crowds at the Dubai Airshow. Chris Whiteoak / The National
  • An Etihad Airbus A350-1041, in special livery to celebrate the UAE's Golden Jubilee, at the Dubai Airshow, with a Boeing 777X in the background. Chris Whiteoak / The National
    An Etihad Airbus A350-1041, in special livery to celebrate the UAE's Golden Jubilee, at the Dubai Airshow, with a Boeing 777X in the background. Chris Whiteoak / The National
  • A Thunder B-VTOL unmanned aerial vehicle system at the Israel Aerospace Industries stand at the Dubai Airshow. Chris Whiteoak / The National
    A Thunder B-VTOL unmanned aerial vehicle system at the Israel Aerospace Industries stand at the Dubai Airshow. Chris Whiteoak / The National
  • The Al Tariq series at The Edge stand at the Dubai Airshow. Chris Whiteoak / The National
    The Al Tariq series at The Edge stand at the Dubai Airshow. Chris Whiteoak / The National
  • The new suite at the Emirates stand at the Dubai Airshow. Chris Whiteoak / The National
    The new suite at the Emirates stand at the Dubai Airshow. Chris Whiteoak / The National
  • Members of the Navy attend the airshow. Chris Whiteoak/ The National
    Members of the Navy attend the airshow. Chris Whiteoak/ The National
  • The Russian Knights perform at the airshow. Chris Whiteoak/ The National
    The Russian Knights perform at the airshow. Chris Whiteoak/ The National
  • A model of the Airbus A400M at the Dubai Airshow. Chris Whiteoak/ The National
    A model of the Airbus A400M at the Dubai Airshow. Chris Whiteoak/ The National
  • Official delegations at Dubai Airshow. Photo: Dubai Media Office
    Official delegations at Dubai Airshow. Photo: Dubai Media Office
  • The show gets off to a flying start. Photo: Dubai Media Office
    The show gets off to a flying start. Photo: Dubai Media Office
  • A Boeing 777-X at the airshow. Chris Whiteoak / The National
    A Boeing 777-X at the airshow. Chris Whiteoak / The National
  • Dubai Airshow begins at Dubai World Central. Photo: Dubai Media Office
    Dubai Airshow begins at Dubai World Central. Photo: Dubai Media Office
  • Jets impress the crowds. Photo: Dubai Media Office
    Jets impress the crowds. Photo: Dubai Media Office
  • Boeing's newest 777X wide-body aircraft makes its international debut at Dubai Airshow. Photo: Dubai Media Office
    Boeing's newest 777X wide-body aircraft makes its international debut at Dubai Airshow. Photo: Dubai Media Office
  • An aerobatic display at Dubai World Central. Photo: Dubai Media Office
    An aerobatic display at Dubai World Central. Photo: Dubai Media Office
  • The show begins. Photo: Dubai Media Office
    The show begins. Photo: Dubai Media Office

____________________

The potential partnership will lead to Earth operating, repairing and sustaining services for the Modernised Targeting and Designator Sensor (M-TADS) systems. M-TADS, known as the "Eyes of the Apache", enables targeting and pilotage in day, night and in adverse weather missions.

The two companies will explore innovative ways to localise critical aspects of sustainment of Apaches flown by the Joint Aviation Command, they said.

The agreement was signed by Omar Al Zaabi, senior vice president head of programme acquisition at Edge, and John Clarke, vice president, capture excellence and international business development at Lockheed Martin Missiles and Fire Control, during the Dubai Airshow.

Defence spending in the six-member GCC economic bloc is expected to rise to pre-coronavirus levels by 2024, defence intelligence specialist Janes said in a report in February.

The strong economic bounce back is expected to support the sovereigns’ defence expenditure as revenue increases, the report said.

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

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

Results

1. Lewis Hamilton (Mercedes) 1hr 32mins 03.897sec

2. Max Verstappen (Red Bull-Honda) at 0.745s

3. Valtteri Bottas (Mercedes) 37.383s

4. Lando Norris (McLaren) 46.466s

5.Sergio Perez (Red Bull-Honda) 52.047s

6. Charles Leclerc (Ferrari) 59.090s

7. Daniel Ricciardo (McLaren) 1:06.004

8. Carlos Sainz Jr (Ferrari) 1:07.100

9. Yuki Tsunoda (AlphaTauri-Honda) 1:25.692

10. Lance Stroll (Aston Martin-Mercedes) 1:26.713,

Company profile

Company: Verity

Date started: May 2021

Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif

Based: Dubai

Sector: FinTech

Size: four team members

Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000

Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors

The specs

Engine: 1.6-litre 4-cyl turbo

Power: 217hp at 5,750rpm

Torque: 300Nm at 1,900rpm

Transmission: eight-speed auto

Price: from Dh130,000

On sale: now

The years Ramadan fell in May

1987

1954

1921

1888

RESULT

Australia 3 (0) Honduras 1 (0)
Australia: Jedinak (53', 72' pen, 85' pen)
Honduras: Elis (90 4)

AT%20A%20GLANCE
%3Cp%3E%3Cstrong%3EWindfall%3C%2Fstrong%3E%3Cbr%3EAn%20%E2%80%9Cenergy%20profits%20levy%E2%80%9D%20to%20raise%20about%20%C2%A35%20billion%20in%20a%20year.%20The%20temporary%20one-off%20tax%20will%20hit%20oil%20and%20gas%20firms%20by%2025%20per%20cent%20on%20extraordinary%20profits.%20An%2080%20per%20cent%20investment%20allowance%20should%20calm%20Conservative%20nerves%20that%20the%20move%20will%20dent%20North%20Sea%20firms%E2%80%99%20investment%20to%20save%20them%2091p%20for%20every%20%C2%A31%20they%20spend.%3Cbr%3E%3Cstrong%3EA%20universal%20grant%3C%2Fstrong%3E%3Cbr%3EEnergy%20bills%20discount%2C%20which%20was%20effectively%20a%20%C2%A3200%20loan%2C%20has%20doubled%20to%20a%20%C2%A3400%20discount%20on%20bills%20for%20all%20households%20from%20October%20that%20will%20not%20need%20to%20be%20paid%20back.%3Cbr%3E%3Cstrong%3ETargeted%20measures%3C%2Fstrong%3E%3Cbr%3EMore%20than%20eight%20million%20of%20the%20lowest%20income%20households%20will%20receive%20a%20%C2%A3650%20one-off%20payment.%20It%20will%20apply%20to%20households%20on%20Universal%20Credit%2C%20Tax%20Credits%2C%20Pension%20Credit%20and%20legacy%20benefits.%3Cbr%3ESeparate%20one-off%20payments%20of%20%C2%A3300%20will%20go%20to%20pensioners%20and%20%C2%A3150%20for%20those%20receiving%20disability%20benefits.%3C%2Fp%3E%0A
Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

THE SPECS

Engine: 3-litre V6

Transmission: eight-speed automatic

Power: 424hp

Torque: 580 Nm

Price: From Dh399,000

On sale: Now

The%20specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
Gulf Under 19s final

Dubai College A 50-12 Dubai College B

The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 258hp from 5,000-6,500rpm

Torque: 400Nm from 1,550-4,000rpm

Transmission: Eight-speed auto

Fuel consumption: 6.1L/100km

Price: from Dh362,500

On sale: now

%20Ramez%20Gab%20Min%20El%20Akher
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A

The Cockroach

 (Vintage)

Ian McEwan 
 

The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Raha%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Kuwait%2FSaudi%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Tech%20Logistics%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2414%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Soor%20Capital%2C%20eWTP%20Arabia%20Capital%2C%20Aujan%20Enterprises%2C%20Nox%20Management%2C%20Cedar%20Mundi%20Ventures%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20166%3C%2Fp%3E%0A

 

 

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

Earth under attack: Cosmic impacts throughout history

4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon

- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.

50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater

1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.  

1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.

1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.

-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.

The specs: 2018 Dodge Durango SRT

Price, base / as tested: Dh259,000

Engine: 6.4-litre V8

Power: 475hp @ 6,000rpm

Torque: 640Nm @ 4,300rpm

Transmission: Eight-speed automatic

Fuel consumption, combined: 7.7L / 100km

'Brazen'

Director: Monika Mitchell

Starring: Alyssa Milano, Sam Page, Colleen Wheeler

Rating: 3/5

BLACKBERRY
%3Cp%3EDirector%3A%20Matt%20Johnson%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Jay%20Baruchel%2C%20Glenn%20Howerton%2C%20Matt%20Johnson%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
COMPANY%20PROFILE%20
%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Meydan Racecourse racecard:

6.30pm: The Madjani Stakes Listed (PA) | Dh175,000 1,900m

7.05pm: Maiden for 2-year-old fillies (TB) Dh165,000 1,400m

7.40pm: The Dubai Creek Mile Listed (TB) Dh265,000 1,600m

8.15pm: Maiden for 2-year-old colts (TB) Dh165,000 1,600m

8.50pm: The Entisar Listed (TB) Dh265,000 2,000m

9.25pm: Handicap (TB) Dh190,000 1,200m

10pm: Handicap (TB) Dh190,000 1,600m.

RESULTS

6.30pm Handicap (TB) US$65,000 (Dirt) 1,400m

Winner Golden Goal, Pat Dobbs (jockey), Doug Watson (trainer)

7.05pm Dubai Racing Club Classic Listed Handicap (TB) $88,000 (Turf) 2,410m

Winner: Walton Street, William Buick, Charlie Appleby.

7.40pm Dubai Stakes Group 3 (TB) $130,000 (D) 1,200m

Winner Switzerland, Tadhg O’Shea, Satish Seemar

8.15pm Singspiel Stakes Group 3 (TB) $163,000 (T) 1,800m

Winner Lord Giltters, Adrie de Vries, David O’Meara

8.50pm Al Maktoum Challenge Round-1 (TB) $228,000 (D) 1,600m

Winner Military Law, Antonio Fresu, Musabah Al Muhairi.

9.25pm Al Fahidi Fort Group 2 (TB) $163,000 (T) 1,400m

Winner Land Of Legends, Frankie Dettori, Saeed bin Suroor

10pm Dubai Dash Listed Handicap (TB) $88,000 (T) 1,000m

Winner Equilateral, Frankie Dettori, Charles Hills.

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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
WandaVision

Starring: Elizabeth Olsen, Paul Bettany

Directed by: Matt Shakman

Rating: Four stars

Ant-Man%20and%20the%20Wasp%3A%20Quantumania
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EPeyton%20Reed%3Cbr%3E%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Paul%20Rudd%2C%20Evangeline%20Lilly%2C%20Jonathan%20Majors%3Cbr%3E%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3C%2Fp%3E%0A
'Nope'
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Jordan%20Peele%0D%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Daniel%20Kaluuya%2C%20Keke%20Palmer%2C%20Brandon%20Perea%2C%20Steven%20Yeun%0D%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
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

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What are the influencer academy modules?
  1. Mastery of audio-visual content creation. 
  2. Cinematography, shots and movement.
  3. All aspects of post-production.
  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
  7. Professional ethics.
Batti Gul Meter Chalu

Producers: KRTI Productions, T-Series
Director: Sree Narayan Singh
Cast: Shahid Kapoor, Shraddha Kapoor, Divyenndu Sharma, Yami Gautam
Rating: 2/5

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Updated: November 15, 2021, 12:40 PM