Abu Dhabi's Masdar is aiming to strengthen the UAE's position as one of the world's leading hubs of green energy, knowledge-sharing and collaboration to accelerate sustainable development across the world, its chief executive said in a video message.
“Since our foundation in 2006, our objective at Masdar has been to support the UAE’s pioneering role in the global energy sector and to advance sustainable development in the UAE and internationally,” said Mohamed Jameel Al Ramahi as he looked back at the company’s journey so far.
The video was uploaded by Abu Dhabi Media Office on its official Twitter handle.
As a subsidiary of Mubadala Investment Company, the sovereign wealth fund of Abu Dhabi Government, Masdar is playing an active role in realising the goals of emirate’s renewable energy vision.
"We are helping to develop the UAE's knowledge economy through commercialising renewable energy and sustainable technologies at scale … creating sources of long term revenue for the benefit of future generations while contributing to sustainable growth," Mr Al Ramahi said.
Earlier this month, Masdar launched a global sustainability campaign to mark its 15th anniversary. The campaign, For A Sustainable Future, intends to reinforce the UAE's focus on renewable energy, sustainable technology and sustainable development goals.
The Masdar City-based company is a major player in the renewable energy sector around the globe. It operates in more than 30 countries with a total renewable energy capacity of 10.7 gigawatts representing a combined investment of approximately $19.9 billion.
Masdar aims to double its renewable energy capacity in the next five years from current levels.
“We are also a leader in sustainable urban development as evident by our landmark Masdar City project,” said Mr Al Ramahi.
“Over the last 15 years, we have celebrated many milestones with our partners setting new records for cost-competitive renewable energy and delivering projects of unprecedented scale and ambition,” he added.
On Wednesday, Masdar announced plans to develop a 230-megawatt solar project in Azerbaijan as it continues to expand its renewable energy portfolio. The project is Azerbaijan's first solar plant, funded through foreign investment.
In Central Asia, Masdar is also active in other countries including Uzbekistan, Armenia and Kazakhstan.
The company is building two clean energy projects in Uzbekistan – a 500MW utility-scale wind project and a 100MW solar plant, worth $100 million.
It also signed a memorandum of understanding with Kazakhstan's sovereign wealth fund, Samruk-Kazyna, to develop renewable energy projects in the country earlier this year.
The company is looking at developing new projects in Malaysia, Vietnam, Indonesia and Taiwan. It is also evaluating new investment opportunities in Israel following the normalisation of relations with the UAE last year.
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Company Profile
Company name: NutriCal
Started: 2019
Founder: Soniya Ashar
Based: Dubai
Industry: Food Technology
Initial investment: Self-funded undisclosed amount
Future plan: Looking to raise fresh capital and expand in Saudi Arabia
Total Clients: Over 50
Meydan race card
6.30pm: Maiden Dh 165,000 1,600m
7.05pm: Handicap Dh 185,000 2,000m
7.40pm: Maiden Dh 165,000 1,600m
8.15pm: Handicap Dh 190,000 1,400m
8.50pm: Handicap Dh 175,000 1,600m
9.25pm: Handicap Dh 175,000 1,200m
10pm: Handicap Dh 165,000 1,600m
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Dunki
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The specs
Engine: 2.5-litre, turbocharged 5-cylinder
Transmission: seven-speed auto
Power: 400hp
Torque: 500Nm
Price: Dh300,000 (estimate)
On sale: 2022
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
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Jurassic%20Park
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Specs
Engine: 3.0L twin-turbo V6
Gearbox: 10-speed automatic
Power: 405hp at 5,500rpm
Torque: 562Nm at 3,000rpm
Fuel economy, combined: 11.2L/100km
Price: From Dh292,845 (Reserve); from Dh320,145 (Presidential)
On sale: Now
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
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About Okadoc
Date started: Okadoc, 2018
Founder/CEO: Fodhil Benturquia
Based: Dubai, UAE
Sector: Healthcare
Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth
Funding stage: Series B fundraising round to conclude in February
Investors: Undisclosed
Company%20profile
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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."
