Donald Trump is considering billionaire Elon Musk as a policy adviser if the Republican presidential candidate reclaims the White House in November’s election, The Wall Street Journal reported.
The two have discussed ways for Mr Musk, who runs the social media platform X as well as SpaceX and Tesla, to have “formal input and influence” over economic and border security policies, according to the Journal, citing sources.
The WSJ also said Mr Musk informed Mr Trump about his ongoing influence campaign aimed at convincing powerful US business leaders not to support Democratic President Joe Biden, who beat Mr Trump in the 2020 election and is seeking a second term.
Those talks, which included billionaire investor Nelson Peltz, also featured discussions about funding a “data-driven project to prevent voter fraud”, the outlet said, adding no further details were known.
Mr Trump’s campaign spokesman Brian Hughes told the Journal that only Mr Trump will decide “what role an individual plays in his presidency”.
The WSJ said Mr Musk did not respond to its requests for comment.
In March, following a meeting with Mr Trump in Florida, Mr Musk – one of the world's wealthiest individuals – said he would not donate money to Mr Trump or Mr Biden.
Instead, he aims “to use his clout … to help defeat Biden by galvanising the support of influential allies”, said the WSJ, citing a person familiar with his thinking.
Mr Musk in recent years has more fully embraced the Republican Party.
He has claimed that Mr Biden is intentionally allowing migrants to cross the US-Mexico border. Mr Musk has also endorsed anti-Semitic comments on X, though he has denied being anti-Semitic.
While he has criticised Mr Biden’s policies on immigration, electric vehicles and tariffs, Mr Musk has not made any formal endorsement in November’s contest and Mr Trump has said he did not know if he has the billionaire’s support.
Mr Musk’s views have hurt his standing among some consumers, according to a CivicScience survey shown to Reuters.
Mr Trump, a prolific user of Twitter, now X, before he was banned from the social media site following the January 6, 2021 attack on the US Capitol, launched his rival Truth Social platform, owned by Trump Media and Technology Group.
Melinda French Gates
Melinda French Gates says she will be donating $1 billion over the next two years to individuals and organisations working on behalf of women and families globally, including on reproductive rights in the US.
It's the second billion-dollar commitment Ms French Gates has personally made in the past five years. In 2019, she pledged over 10 years to expand women’s power and influence.
Last month, Ms French Gates announced she would step down from the Bill and Melinda Gates Foundation, and vowed to focus on women and families.
As a part of leaving the Gates Foundation, she received $12 billion from Bill Gates for her philanthropy going forward.
Ms French Gates, one of the biggest philanthropic supporters of gender equity in the US, said in a guest essay for The New York Times that she's been frustrated over the years by people who say it's not the right time to talk about gender equality.
“Decades of research on economics, well-being and governance make it clear that investing in women and girls benefits everyone,” she wrote.
Ms French Gates said over the past few weeks she's started directing what will total $200 million in new grants through her organisation, Pivotal Ventures, to groups working in the US to protect women's rights and advance their power and influence.
The grants are for general operating support, meaning they are not earmarked for specific projects.
Ms French Gates also pledged to give 12 individuals $20 million each to distribute to non-profit organisations of their choice before the end of 2026.
Those funds will be managed by the National Philanthropic Trust, one of the largest public charities that offers donor-advised funds, a spokesperson for Pivotal Ventures said.
In all, Ms French Gates announced $690 million in commitments out of the promised $1 billion.
Ms French Gates said $250 million will be awarded to fund organisations working to improve women's mental and physical health globally.
Pivotal Ventures has focused on avenues to increase women’s economic and political participation and power, like closing the wage gap, compensating care work often done by women, and encouraging women to run for political office.
The company said it has committed $875 million of the $1 billion that Ms French Gates pledged in 2019 to a mixture of venture and philanthropic funding.
Ms French Gates will be leaving the Bill and Melinda Gates Foundation this week. She helped co-found the organisation nearly 25 years ago.
The Bill and Melinda Gates Foundation will change its name to the Gates Foundation. It is one of the largest philanthropic organisations in the world.
As of December 2023, its endowment was $75.2 billion, thanks to donations from Mr Gates and the billionaire investor Warren Buffett.
While it works across many issues, global health remains its largest area of work, and most of its funding is meant to address issues internationally rather than in the US.
Daniel Kretinsky
Czech billionaire Daniel Kretinsky plans to fund the takeover of International Distribution Services, owner of the UK’s Royal Mail, with both equity and debt.
The tycoon’s EP Group plans to use £1.2 billion ($1.5 billion) of equity and about £2.3 billion of debt to fund the transaction, said Roman Silha, the head of mergers and acquisitions for his EP Corporate Group.
Mr Kretinsky said Royal Mail needs investment now in order to maintain its market share.
“We believe for the future success of IDS and of Royal Mail, it is really beneficial to create a situation where they have a clear owner backing the long-term strategy,” Mr Kretinsky said.
The tycoon’s EP Group has agreed to buy the shares it doesn’t already own in IDS.
A year ago, Mr Kretinsky said he wasn’t actively considering a takeover of IDS – which also owns parcel and freight delivery services firm GLS.
But the need for investment, in particular in the out-of-home parcel delivery both for Royal Mail and GLS, made him reconsider.
With a net worth according to the Bloomberg Billionaires Index of $8.1 billion, the tycoon has spent a decade cobbling together an empire that stretches from power plants to retail and media, with his most recent purchases targeting mostly entities in financial distress.
Although not in dire straits, Royal Mail’s business model faces critical challenges as it grapples with a decline in letter writing and the rise in parcel deliveries tied to e-commerce. IDS last month reported another annual loss for the year ended March 31.
We believe for the future success of IDS and of Royal Mail, it is really beneficial to create a situation where they have a clear owner backing the long-term strategy
Daniel Kretinsky
The debt to fund the deal has been underwritten by BNP Paribas, Citi, Societe Generale and UniCredit, with £1.1 billion in the form of a term loan that will be for five or six years, Mr Silha said.
The rest will be bridges that EP would like to replace with bonds in the two or three years following the closing of the deal, or to be repaid with proceeds from EP Holdings, he said.
Mr Kretinsky’s £3.6 billion takeover of the parent of Royal Mail on the eve of a UK general election looks set to unleash a struggle over the future ownership of Britain’s postal service.
He has pledged not to break up the group for at least three years and to deliver letters six days a week for the next five years.
Still, the deal is likely to face opposition from UK politicians who have previously voiced concern about Mr Kretinsky already owning a chunk of the former state-owned company. His stake is currently more than 27 per cent.
In the UK, Mr Kretinsky also has stakes in grocer J Sainsbury and Premier League football club West Ham United.
The 48-year-old owner of the largest privately-held energy conglomerate in Europe has seen his fortunes soar, buoyed mainly by rising power prices during the continent’s crisis.
The billionaire has sought to diversify, completing the takeover of troubled French grocery chain Casino Guichard-Perrachon in March.
He got a green light last week from Germany’s Thyssenkrupp’s supervisory board to buy a 20 per cent stake in its Steel Europe unit – and is in discussions to buy an additional 30 per cent.
He’s also bidding for the embattled IT services firm Atos, a former French tech champion now in need of a rescue.
The takeover of IDS is expected to be completed in the first quarter of 2025, and needs antitrust approval not only from the UK and the European Commission, but also from other countries where GLS operates, including the US, Canada and Serbia.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
COMPANY%20PROFILE%20
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INFO
What: DP World Tour Championship
When: November 21-24
Where: Jumeirah Golf Estates, Dubai
Tickets: www.ticketmaster.ae.
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
Racecard
5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,600m
5.30pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (T) 1,600m
6pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m
6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m
7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m
7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Important questions to consider
1. Where on the plane does my pet travel?
There are different types of travel available for pets:
- Manifest cargo
- Excess luggage in the hold
- Excess luggage in the cabin
Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.
2. What is the difference between my pet traveling as manifest cargo or as excess luggage?
If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.
If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.
3. What happens when my pet arrives in the country they are traveling to?
As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.
If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.
If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.
4. How long does the travel paperwork and other travel preparations take?
This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.
In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.
5. What vaccinations does my pet need to travel?
Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.
Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.
Source: Pawsome Pets UAE
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Profile of Foodics
Founders: Ahmad AlZaini and Mosab AlOthmani
Based: Riyadh
Sector: Software
Employees: 150
Amount raised: $8m through seed and Series A - Series B raise ongoing
Funders: Raed Advanced Investment Co, Al-Riyadh Al Walid Investment Co, 500 Falcons, SWM Investment, AlShoaibah SPV, Faith Capital, Technology Investments Co, Savour Holding, Future Resources, Derayah Custody Co.
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
Brief scores:
Toss: Sindhis, elected to field first
Pakhtoons 137-6 (10 ov)
Fletcher 68 not out; Cutting 2-14
Sindhis 129-8 (10 ov)
Perera 47; Sohail 2-18
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
