Enowa — the energy, water and hydrogen subsidiary of Saudi Arabia’s $500 billion high-tech mega-city Neom — said on Thursday it will set up a new Hydrogen and Innovation Development Centre (HIDC) to boost its research on the clean fuel.
Scheduled to open next year, the new facility is located in Neom’s advanced manufacturing and innovation city. It aims to accelerate lab-to-market solutions in the fields of hydrogen research, green fuel production, utilisation and transport.
Our ambition is to drive innovation and promote the economic implementation of future clean energy supplies
Peter Terium,
Enowa’s chief executive
HIDC will be a testing ground for new technologies in the clean energy industry and will be a collaborative learning community for research institutions focused on hydrogen and the circular carbon economy, Enowa said.
Neom is becoming one of the global accelerators for the hydrogen economy, Peter Terium, Enowa’s chief executive, said.
“Our ambition is to drive innovation and promote the economic implementation of future clean energy supplies. While the successful activation of ground-breaking technologies is important, fresh thinking and new energy solutions are just as essential,” he added.
Hydrogen, which can be produced from both renewable energy and natural gas, is expected to play a key role in the coming years as economies and industries transition to a low-carbon world to mitigate climate change.
Enowa aims to produce large quantities of green hydrogen that can be adopted by many industries across the kingdom.
Green hydrogen has gained traction amid the energy transition and can be used with various applications as a power source, e-fuel, chemical and fertiliser across many industries.
Using hydrogen fuel cell technology, HIDC's future projects include a filling station and distribution technology for zero-emission cars, buses, lorries and other clean energy applications.
Founded last year, Enowa is supplying water and electricity to the Neom community while providing sustainable fuels such as green hydrogen to international users, all of which are generated locally through processes powered by renewable energy.
It has partnered with various organisations such as Saudi Aramco and Air Products Qudra to fast-track its research and business development.
“We look forward to attracting other global trailblazers to create a new future that will foster the next generation of hydrogen technologies,” Mr Terium said.
HIDC will “validate hydrogen innovations”, Enowa said. It will also work with Aramco on synthetic fuel development.
“This collaboration will enable HIDC to tap into Aramco’s experience in engineering, energy logistics and fuels research and development and to align with Aramco's ongoing efforts to explore the potential for hydrogen-based, low-carbon fuels to support the global energy transition,” Enowa said.
Neom is a perfect place for Aramco to test its in-house technologies, Aramco’s chief technology officer Ahmad Al Khowaiter said.
“Its vast potential to generate wind and solar power also offers a unique opportunity to deliver renewable hydrogen to power the growth of low carbon synthetic fuels while offering a platform to test their commercial viability,” he said.
Neom expects to be the first economy to utilise green hydrogen as power at scale and pave the way for the hydrogen economy globally.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin
More on animal trafficking
More on Quran memorisation:
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
Timeline
1947
Ferrari’s road-car company is formed and its first badged car, the 125 S, rolls off the assembly line
1962
250 GTO is unveiled
1969
Fiat becomes a Ferrari shareholder, acquiring 50 per cent of the company
1972
The Fiorano circuit, Ferrari’s racetrack for development and testing, opens
1976
First automatic Ferrari, the 400 Automatic, is made
1987
F40 launched
1988
Enzo Ferrari dies; Fiat expands its stake in the company to 90 per cent
2002
The Enzo model is announced
2010
Ferrari World opens in Abu Dhabi
2011
First four-wheel drive Ferrari, the FF, is unveiled
2013
LaFerrari, the first Ferrari hybrid, arrives
2014
Fiat Chrysler announces the split of Ferrari from the parent company
2015
Ferrari launches on Wall Street
2017
812 Superfast unveiled; Ferrari celebrates its 70th anniversary