The Abu Dhabi Investment Authority is capitalising on its technology and data analytics capabilities as it charts its future investment opportunities. Rich-Joseph Facun / The National
The Abu Dhabi Investment Authority is capitalising on its technology and data analytics capabilities as it charts its future investment opportunities. Rich-Joseph Facun / The National
The Abu Dhabi Investment Authority is capitalising on its technology and data analytics capabilities as it charts its future investment opportunities. Rich-Joseph Facun / The National
The Abu Dhabi Investment Authority is capitalising on its technology and data analytics capabilities as it charts its future investment opportunities. Rich-Joseph Facun / The National

Abu Dhabi Investment Authority's new research centre makes its debut with $100,000 award


Alvin R Cabral
  • English
  • Arabic

The Abu Dhabi Investment Authority, one of the world's biggest sovereign wealth funds, has launched its new innovation centre, kickstarting operations with the announcement of a $100,000 research award that focuses on investment strategies.

The Adia Lab, which was first announced in October, is an independent entity that will focus on data and computational sciences, with broad research goals that are not specific to investment-related applications, Adia said in a statement on Friday, the UAE's 51st National Day.

Among the areas it will focus on are climate change, energy transition, blockchain, financial inclusion, investing, automation, cyber-security, health sciences, education, telecommunications and space.

It issued a call for papers for a study on “Adia Lab Award for Causal Research in Investments” — centred on finance and economics, with a particular focus on investment strategies — with the $100,000 prize to be divided between the authors of the top three submissions, it said.

On a broader scale, the Adia Lab is expected to play a proactive role in the development of Abu Dhabi’s digital ecosystem, in which the government has invested heavily.

“One of the key drivers at Adia Lab is our collaboration with leading academic institutions, both here in the UAE and globally, in support of the growth of Abu Dhabi as an international hub for technology and innovation,” Horst Simon, director and advisory board member of the Adia Lab, said in the statement.

Joining him on the board are Alex Pentland, a professor at the Massachusetts Institute of Technology, Rousseeuw Prize winner Miguel Hernan, Turing Award recipient Jack Dongarra, Edward Jung, chief technology officer at Intellectual Ventures, and Marcos Lopez de Prado and Alex Lipton, global heads of quantitative research and development at Adia.

Abu Dhabi's initiatives in an era of global digital transformation are helping the emirate position itself at the forefront of integrating advanced technologies into its economy and society.

The UAE capital already leads the Middle East in the global smart city index, ranking 28th, a 2021 report from the Institute for Management Development and the Singapore University for Technology and Design showed.

Adia — well placed to keep pace and capitalise on challenging market conditions in the past couple of years — is capitalising on its technology and data analytics capabilities as it charts its future investment opportunities.

As the narrative globally focused on rising inflation and the effects on the global economy last year, the authority sought out opportunities in regions and subregions with high potential over the long term as it continued to build its direct exposure to private markets, it said in its 2021 annual report released in October.

“Longer term, there are a number of other important themes that will profoundly reshape the investing landscape over time," Sheikh Hamed bin Zayed, managing director of Adia, said at the time.

"These include the rise of data-driven investing, which is providing new ways of identifying opportunities for outperformance, while also reducing the time available to capitalise on them."

Abu Dhabi's push has led to an influx of investments from global technology companies, including for boosting cloud services, data centres, artificial intelligence, smart cities and R&D collaborations, among several others.

Alongside the launch of the Adia Lab are partnerships with local and international academic institutions, which will conduct joint research, academic programmes, internship opportunities and publications, among others.

Our doors are open, and now we’re excited to explore new collaborations and play a role in Abu Dhabi’s growing and vibrant ecosystem
Horst Simon,
director and advisory board member, Adia Lab

The organisations collaborating with the Adia Lab include Khalifa University of Science and Technology, Sorbonne University Abu Dhabi, New York University Abu Dhabi, University of Toronto Canada, and Institut Louis Bachelier France.

These partnerships are expected to be expanded "in the coming weeks", Mr Simon said.

The Adia Lab will encourage multi-disciplinary collaboration and aims to provide solutions for large-scale and complex problems through a "team science approach", Mr Simon said.

“To accomplish these goals, we seek far-reaching collaborations with academic institutions, industry, and international partners and scientists. Our doors are open, and now we’re excited to explore new collaborations and play a role in Abu Dhabi’s growing and vibrant ecosystem.”

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The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet

Voices: How A Great Singer Can Change Your Life
Nick Coleman
Jonathan Cape

THE SPECS

Engine: Four-cylinder 2.5-litre

Transmission: Seven-speed auto

Power: 165hp

Torque: 241Nm

Price: Dh99,900 to Dh134,000

On sale: now

 


 

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

Need to know

Unlike other mobile wallets and payment apps, a unique feature of eWallet is that there is no need to have a bank account, credit or debit card to do digital payments.

Customers only need a valid Emirates ID and a working UAE mobile number to register for eWallet account.

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX
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Omar Yabroudi's factfile

Born: October 20, 1989, Sharjah

Education: Bachelor of Science and Football, Liverpool John Moores University

2010: Accrington Stanley FC, internship

2010-2012: Crystal Palace, performance analyst with U-18 academy

2012-2015: Barnet FC, first-team performance analyst/head of recruitment

2015-2017: Nottingham Forest, head of recruitment

2018-present: Crystal Palace, player recruitment manager

 

 

 

 

Essentials

The flights
Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
The tours
Superb ape-watching tours that take in all three gorilla countries mentioned above are run by Natural World Safaris. In September, the company will be operating a unique Ugandan ape safari guided by well-known primatologist Ben Garrod.
In the Democratic Republic of Congo, local operator Kivu Travel can organise pretty much any kind of safari throughout the Virunga National Park and elsewhere in eastern Congo.

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

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

Updated: December 02, 2022, 5:43 PM