Live updates: Follow the latest news on Cop28
More than 100 world leaders have vowed to put greener farming at the heart of their climate plans, in a much-anticipated pledge on the second day of Cop28 that recognises the link between global warming and food.
The Emirates Declaration – signed by 134 countries including the UAE, the US and China – says that “any path” to meeting the world’s key 1.5°C climate goal must involve food and agriculture.
They vowed to cut emissions from farming – about a third of the world’s greenhouse gas footprint – by shifting to “more sustainable production and consumption”, at a summit priding itself on “mainly plant-based” catering.
At the same time, they pledged to help protect farmers from the effects of climate change in the face of “mounting hunger, malnutrition, and economic stresses”.
Mariam Al Mheiri, Minister of Climate Change and Environment, declared it “a historic moment for food systems” as she revealed that the Bill and Melinda Gates Foundation will fund $200 million of research and innovation in agriculture.
Campaigners welcomed the language on greener farming being key to the 1.5°C goal, which is “what we’ve fought for in the last five years”, ProVeg International lobbyist Raphael Podselver told The National.
“It’s really clear there is no way to achieve the Paris Agreement if we don’t fundamentally transform food systems, even if we phase out fossil fuels tomorrow,” Mr Podselver said.
“People laughed at us [at Cop24] in Katowice five years ago for connecting food and climate change,” he said – but leaders in Dubai have now given “a very strong signal”.
The text unveiled on Friday, after the UAE presidency spent months encouraging countries to sign up, says:
· Agriculture and food systems “must urgently adapt and transform in order to respond to the imperatives of climate change"
· Countries will work together to conserve nature and ecosystems, improve soil health and biodiversity and shift from high-emission practices to more sustainable methods, including by reducing food waste
· They also plan to help farmers adapt to climate change with early warning systems for natural disasters, school meal programmes and better water management
· The countries commit to integrating food and environmental policy by 2025, which is when the next round of national climate plans is due
“We stress that any path to fully achieving the long-term goals of the Paris Agreement must include agriculture,” the declaration says, referring to the deal that set the 1.5°C global warming target.
The UAE minister said the countries involved, which include Brazil, the UK, France, Australia, Egypt and Morocco, represent three quarters of the world’s agricultural emissions.
“I did promise many of you over the last few years that we would bring agriculture and food systems to centre stage at Cop28, and here we are,” she told delegates to applause at the summit.
Hopes for AI
Bill Gates said crop failure in Africa because of rising temperatures, leading to malnutrition, underdevelopment and death, was what first made him aware of the effects of climate change.
“There is reason to believe that by using the latest techniques, of being able to sequence genes, using AI, using satellite data, that for all the crops – not just the main cereal crops – we can make them far more productive and far more climate resilient,” he said of his planned investment.
Further discussions on food are planned at Cop28, which is scheduled to run until December 12. An early negotiating text being discussed by all the nearly 200 countries at the summit leaves open what they will say on agriculture.
At Cop28’s food pavilion, Mr Podselver acknowledged that leaders were unlikely to go as far as suggesting plant-based diets – despite the range of salads and vegetarian sandwiches on offer in Dubai.
Cop28 at Expo City Dubai - in pictures
Activists for a vegan diet “have seen that acknowledged more in the catering” even if not in negotiating texts, said Lana Weidgenant, a fellow ProVeg campaigner who also welcomed the Emirates Declaration.
“We have seen these Cops before talk about food systems and agriculture but this is taking to another level in bringing it to a leaders’ declaration,” she said.
As with Cop28’s first-day breakthrough on climate-related loss and damage, campaigners said it was now up to leaders to turn their words in Dubai into action back home.
“This declaration will only be meaningful if we see follow-through on the ground,” said Jennifer Morris, chief executive of the Nature Conservancy, which is co-hosting the food pavilion in Dubai.
“The 134 countries who have committed to the declaration will need to work with every actor in the food system to deliver real lasting change."
Scorline
Iraq 1-0 UAE
Iraq Hussein 28’
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
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
Dunki
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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
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Killing of Qassem Suleimani
How much sugar is in chocolate Easter eggs?
- The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
- The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
- The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
- The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
- The Cadbury Creme Egg contains 26g of sugar per 40g egg
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
MATCH INFO
Iceland 0 England 1 (Sterling pen 90 1)
Man of the match Kari Arnason (Iceland)
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 435hp at 5,900rpm
Torque: 520Nm at 1,800-5,500rpm
Transmission: 9-speed auto
Price: from Dh498,542
On sale: now
UAE%20set%20for%20Scotland%20series
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Jewel of the Expo 2020
252 projectors installed on Al Wasl dome
13.6km of steel used in the structure that makes it equal in length to 16 Burj Khalifas
550 tonnes of moulded steel were raised last year to cap the dome
724,000 cubic metres is the space it encloses
Stands taller than the leaning tower of Pisa
Steel trellis dome is one of the largest single structures on site
The size of 16 tennis courts and weighs as much as 500 elephants
Al Wasl means connection in Arabic
World’s largest 360-degree projection surface
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Gulf rugby
Who’s won what so far in 2018/19
Western Clubs Champions League: Bahrain
Dubai Rugby Sevens: Dubai Hurricanes
West Asia Premiership: Bahrain
What’s left
UAE Conference
March 22, play-offs:
Dubai Hurricanes II v Al Ain Amblers, Jebel Ali Dragons II v Dubai Tigers
March 29, final
UAE Premiership
March 22, play-offs:
Dubai Exiles v Jebel Ali Dragons, Abu Dhabi Harlequins v Dubai Hurricanes
March 29, final
COMPANY%20PROFILE
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