Chinese President Xi Jinping arrived in Saudi Arabia on Wednesday on an official visit to forge closer ties with Riyadh and Arab states.
He will stay until Saturday to attend the inaugural China-Arab States Summit and to meet GCC leaders at the China-Gulf conference in the capital, Riyadh.
He said he was "happy" to visit the kingdom for the first time since 2016 and extended his "sincere greetings and best wishes" to the government and people.
"King Salman and I are leading bilateral relations to achieve great development and have strongly contributed to the promotion of peace, stability, prosperity and development in the region," he said, adding he was looking forward to the coming summits.
It is only his third overseas visit since the outbreak of Covid-19, which has heavily affected China's international trade due to strict entry requirements to the country. The measures are part of a wider policy known as zero Covid, which has involved sweeping, last-minute lockdowns that in some cases lasted weeks and even months.
But China's coronavirus rules were eased significantly on Wednesday, restoring some confidence to international investors.
Saudi jets spewing white and green smoke accompanied the Air China flight carrying Mr Xi as it approached Riyadh. Later, seven more jets conducted a fly-past in China's colours of red and yellow.
Mr Xi smiled gently as he waved from the door of the plane, then slowly descended the carpeted steps to meet the welcoming committee. Many of the dignitaries and staff at the airport wore masks as protection against Covid-19.
Mr Xi was met by Riyadh governor Prince Faisal bin Bandar Al Saud, Foreign Minister Prince Faisal bin Farhan Al Saud and the governor of sovereign wealth fund PIF, Yasir Al Rumayyan.
King Salman invited Mr Xi “in order to strengthen the historical relations and distinguished strategic partnership that unites the Kingdom of Saudi Arabia with the People's Republic of China”, the state-run Saudi Press Agency said before the visit.
Economic and development co-operation will be discussed, it added.
Chinese flags were hoisted along major roads in Riyadh, while Mr Xi was pictured on the front pages of newspapers that highlighted the trip's potential economic benefits.
Mr Xi’s attendance at the China-Arab States Summit marks the “largest and highest-level diplomatic event between China and the Arab world since the founding of the People’s Republic of China”, Foreign Ministry spokeswoman Mao Ning said on Wednesday.
The summit marks a turning point for bilateral relations with Saudi Arabia, the ministry said.
The two countries will sign deals worth more than $29.3 billion during the visit, said SPA.
A number of agreements are already in the works, including the signing of a memorandum of understanding between King Abdullah Petroleum Studies and Research Centre and China’s Economics and Technology Research Institute.
The think tanks will exchange information and conduct research together around energy, economics and climate change.
“We see a lot of common interest and alignment between China’s and Saudi Arabia's position when it comes to energy and climate. We both understand and reiterate the idea of common but differentiated responsibility when it comes to climate change,” Kapsarc’s president Fahad Alajlan said in a statement.
“As important energy producers and consumers in the world, China and Saudi Arabia play an important role in maintaining the stability of the international energy market, addressing climate change and promoting the realisation of energy green transformation goals,” added Etri's president Yu Guo.
China's ambassador to the kingdom has said the Riyadh summits, chaired by the leaders of the kingdom, China, the Gulf and Arab countries, will “enhance the interests of humanity”.
China's consul in Jeddah, Tan Banglin, said China's commitment to developing relations with Arab countries was based on five principles: Non-aggression, non-interference in internal affairs, mutual benefit, equality and peaceful coexistence.
"It is certain that the three summits will result in decisions that contribute to advancing and supporting joint Chinese-Arab co-operation in the fields of oil and natural gas [and] renewable energy," he said.
"China will also push for the implementation of the Global Security Initiative, through which it works with Arab countries to adhere to the concept of integrated and sustainable common security, and adhere to the principle of resolving disputes and conflicts between countries through peaceful means."
The US has commented on the visit, saying that Beijing is attempting to grow its influence around the world, describing the visit as "certainly not a surprise".
"We are mindful of the influence that China is trying to grow around the world," John Kirby, the National Security Council's co-ordinator for strategic communications, said in a statement. "The Middle East is certainly one of those regions where they want to deepen their level of influence,
"We believe that many of the things they're trying to pursue and the manner in which they are trying to pursue it are not conducive to preserving the rules based international order that the United States and our vast network of allies and partners are trying to preserve.
"We remain focused on our national security interests and our partnerships in the Middle East. That hasn't changed," he added. "Saudi Arabia is one of those strategic partners, it has been for 80 years and that partnership continues.
"We are not asking nations to choose between the United States and China."
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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Turkish Ladies
Various artists, Sony Music Turkey
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
Dates for the diary
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
- September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
- October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
- October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
- November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
- December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
- February 2, 2018 Bodytree will host its 4th annual yoga market.
Champions parade (UAE timings)
7pm Gates open
8pm Deansgate stage showing starts
9pm Parade starts at Manchester Cathedral
9.45pm Parade ends at Peter Street
10pm City players on stage
11pm event ends
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
if you go
The flights
Emirates have direct flights from Dubai to Glasgow from Dh3,115. Alternatively, if you want to see a bit of Edinburgh first, then you can fly there direct with Etihad from Abu Dhabi.
The hotel
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Located in the heart of Mackintosh's Glasgow, the Dakota Deluxe is perhaps the most refined hotel anywhere in the city. Doubles from Dh850
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Events and tours
There are various Mackintosh specific events throughout 2018 – for more details and to see a map of his surviving designs see glasgowmackintosh.com
For walking tours focussing on the Glasgow Style, see the website of the Glasgow School of Art.
More information
For ideas on planning a trip to Scotland, visit www.visitscotland.com
Company%20Profile
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SPEC%20SHEET
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
SHOW COURTS ORDER OF PLAY
Wimbledon order of play on Saturday, July 8
All times UAE ( 4 GMT)
Centre Court (4pm)
Agnieszka Radwanska (9) v Timea Bacsinszky (19)
Ernests Gulbis v Novak Djokovic (2)
Mischa Zverev (27) v Roger Federer (3)
Court 1 (4pm)
Milos Raonic (6) v Albert Ramos-Vinolas (25)
Anett Kontaveit v Caroline Wozniacki (5)
Dominic Thiem (8) v Jared Donaldson
Court 2 (2.30pm)
Sorana Cirstea v Garbine Muguruza (14)
To finish: Sam Querrey (24) leads Jo-Wilfried Tsonga (12) 6-2, 3-6, 7-6, 1-6, 6-5
Angelique Kerber (1) v Shelby Rogers
Sebastian Ofner v Alexander Zverev (10)
Court 3 (2.30pm)
Grigor Dimitrov (13) v Dudi Sela
Alison Riske v Coco Vandeweghe (24)
David Ferrer v Tomas Berdych (11)
Court 12 (2.30pm)
Polona Hercog v Svetlana Kuznetsova (7)
Gael Monfils (15) v Adrian Mannarino
Court 18 (2.30pm)
Magdalena Rybarikova v Lesia Tsurenko
Petra Martic v Zarina Diyas
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
The specs: 2017 Dodge Ram 1500 Laramie Longhorn
Price, base / as tested: Dhxxx
Engine: 5.7L V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 556Nm @ 3,950rpm
Fuel economy, combined: 12.7L / 100km
Mercedes V250 Avantgarde specs
Engine: 2.0-litre in-line four-cylinder turbo
Gearbox: 7-speed automatic
Power: 211hp at 5,500rpm
Torque: 350Nm
Fuel economy, combined: 6.0 l/100 km
Price: Dh235,000
Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.
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