Mariam Al Mheiri, Minister of Climate Change and Environment, addressing the UN 2023 Water Conference. Photo: UN
Mariam Al Mheiri, Minister of Climate Change and Environment, addressing the UN 2023 Water Conference. Photo: UN
Mariam Al Mheiri, Minister of Climate Change and Environment, addressing the UN 2023 Water Conference. Photo: UN
Mariam Al Mheiri, Minister of Climate Change and Environment, addressing the UN 2023 Water Conference. Photo: UN

Collective action needed to address global water scarcity, says Al Mheiri


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Mariam Al Mheiri, Minister of Climate Change and Environment, Minister of State for Food Security, has said collective action needs to be taken to address the challenge of global water scarcity.

Addressing the UN 2023 Water Conference in New York, which coincides with World Water Day, Ms Al Mheiri said innovative solutions are needed to overcome the impact of climate change.

“The stress on our water systems is contributing in evermore concrete ways to food shortages, farmer-herder tensions and migration, ultimately undermining stability in the most fragile areas,” Ms Al Mheiri said.

“With impacts of climate change manifesting most concretely through water — via droughts, flooding, tsunamis — these trends are only likely to worsen.

“The UAE will continue to work with its partners to ensure that the council focuses on practical ways to warranty that climate risks inform its decision-making.”

The UAE depends heavily on desalination — a process that removes salt from seawater — to supply water for drinking and industrial purposes.

Up to 42 per cent of the UAE's potable water requirement comes from about 70 major desalination plants, which account for about 14 per cent of the world's total production of desalinated water.

In 2017, the UAE launched the Water Security Strategy 2036 which aims to ensure sustainability and continuous access to water at any time and condition.

The strategy is centred on ensuring sustainability and continuity of access to water.

It plans to reduce the total demand for water resources by 21 per cent, reducing the water scarcity index by three degrees and increase the rate of reuse of treated water to 95 per cent. The water scarcity index is a measure of how heavily a country’s water assets are used.

Last year, Suhail Al Mazrouei, Minister of Energy and Infrastructure, said the country was well on track to achieving these goals.

He said the country was moving away from relying on groundwater and energy intensive methods of desalination.

Authorities in the UAE are developing more energy-efficient desalination plants that use reverse osmosis — a low energy way to purify water using membrane technology. Renewable energy systems are also being used in these plants, creating greater efficiencies.

Mr Al Mazrouei said the UAE would also share its expertise on conservation with nations facing water scarcity.

World Water Day - in pictures

  • A man washes clothes on the banks of the river Brahmaputra on World Water Day (March 22) in Guwahati, India. AP Photo
    A man washes clothes on the banks of the river Brahmaputra on World Water Day (March 22) in Guwahati, India. AP Photo
  • The cracked earth of the Sau reservoir north of Barcelona, Spain. AP Photo
    The cracked earth of the Sau reservoir north of Barcelona, Spain. AP Photo
  • With no running water at home, a woman fills a container at a water fill station in Port-au-Prince, Haiti. AP Photo
    With no running water at home, a woman fills a container at a water fill station in Port-au-Prince, Haiti. AP Photo
  • Carmelo Del Valle, displaced from his home by the rising waters of the Paraguay River, fills buckets to haul to his temporary shelter in Asuncion, Paraguay. AP Photo
    Carmelo Del Valle, displaced from his home by the rising waters of the Paraguay River, fills buckets to haul to his temporary shelter in Asuncion, Paraguay. AP Photo
  • Women carry water on the outskirts of Sanaa, Yemen. More than 17 million of Yemen's 30-million population lack access to safe water, the UN says. EPA
    Women carry water on the outskirts of Sanaa, Yemen. More than 17 million of Yemen's 30-million population lack access to safe water, the UN says. EPA
  • A woman returns home after collecting drinking water from a tanker on World Water Day in New Delhi, India. Wednesday is the 30th anniversary of World Water Day. AP Photo
    A woman returns home after collecting drinking water from a tanker on World Water Day in New Delhi, India. Wednesday is the 30th anniversary of World Water Day. AP Photo
  • A man in Abidjan, Ivory Coast, a day before World Water Day. Ivorian Prime Minister Patrick Achi announced an investment of about $5 billion to achieve universal access to drinking water by 2030. EPA
    A man in Abidjan, Ivory Coast, a day before World Water Day. Ivorian Prime Minister Patrick Achi announced an investment of about $5 billion to achieve universal access to drinking water by 2030. EPA
  • People wash clothes in a public pool of spring water in Japakeh, Indonesia, on World Water Day. AFP
    People wash clothes in a public pool of spring water in Japakeh, Indonesia, on World Water Day. AFP
  • A photograph taken on March 16, 2023 shows the dried-up lake Serre-Poncon, near Embrun in the French Alps. AFP
    A photograph taken on March 16, 2023 shows the dried-up lake Serre-Poncon, near Embrun in the French Alps. AFP
  • A woman washing up outside her house in a slum on the eve of World Water Day in Mumbai, India. AP Photo
    A woman washing up outside her house in a slum on the eve of World Water Day in Mumbai, India. AP Photo
  • The Satluj river in the valley below the snowy peaks in Kinnaur district of the Himalayan state of Himachal Pradesh, India. AP Photo
    The Satluj river in the valley below the snowy peaks in Kinnaur district of the Himalayan state of Himachal Pradesh, India. AP Photo
  • Wind pumps in Kinderdijk, Netherlands. The pumps prevent the region from being flooded, since a third of the Netherlands lies below sea level. AP Photo
    Wind pumps in Kinderdijk, Netherlands. The pumps prevent the region from being flooded, since a third of the Netherlands lies below sea level. AP Photo
  • Franklin Caceres checks a water pump used to collect water from a well in the Petare neighborhood of Caracas, Venezuela. Caceres supplies water to more than 400 people. AP Photo
    Franklin Caceres checks a water pump used to collect water from a well in the Petare neighborhood of Caracas, Venezuela. Caceres supplies water to more than 400 people. AP Photo
  • A man puts empty water containers back on a lorry belonging to a private distributor in Caracas, Venezuela. AFP
    A man puts empty water containers back on a lorry belonging to a private distributor in Caracas, Venezuela. AFP
yallacompare profile

Date of launch: 2014

Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer

Based: Media City, Dubai 

Sector: Financial services

Size: 120 employees

Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)

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Director: Rupert Wyatt

Rating: 3/5

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Best Men's Player of the Year: Kylian Mbappe (PSG)

Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)

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Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)

Best Women's Player of the Year: Alexia Putellas (Barcelona)

Best Men's Club of the Year: Chelsea

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Player Career Award: Ronaldinho

MATCH INFO

What: Brazil v South Korea
When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae

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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

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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
MISSION: IMPOSSIBLE – FINAL RECKONING

Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

Updated: March 23, 2023, 3:41 PM