Saudi Arabia’s King Salman discusses water security and defence with Egypt’s El Sisi


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Egypt’s President Abdel Fattah El Sisi arrived in Saudi Arabia on Tuesday, where he was welcomed by Saudi Crown Prince Mohammed bin Salman and discussed regional security with King Salman.

The Saudi Falcons Royal Saudi Air Force aerobatic team staged a display, trailing smoke in the colours of the Egyptian flag, to welcome the Egyptian president to Riyadh.

Mr El Sisi met King Salman and reviewed bilateral relations and discuss regional and international issues, including the impact of the Russian invasion of Ukraine and the impact of Ethiopia’s construction of the Grand Renaissance Dam megaproject during his stay.

"The Saudi side affirmed its full support for Egyptian water security as an integral part of Arab water security, and urges Ethiopia to abandon its unilateral policy in connection with international rivers, and to abide by its commitments under international law, including the Declaration of Principles Agreement signed in 2015, which would not take any unilateral measures regarding the filling and operation of the Grand Ethiopian Renaissance Dam," a joint statement on the meeting released by the Saudi Press Agency read.

Saudi Arabia also urged Ethiopia to "co-operate in good faith with Egypt and Sudan" to reach a legally binding agreement on the Nile dam.

  • Saudi Arabia's King Salman and Crown Prince Mohammed bin Salman receive Egypt's President Abdel Fattah El Sisi in Riyadh. The reception for Mr El Sisi on his arrival in Saudi Arabia included an air display by the kingdom's Saudi Falcons aerobatic team. Photos: @KSAMOFA
    Saudi Arabia's King Salman and Crown Prince Mohammed bin Salman receive Egypt's President Abdel Fattah El Sisi in Riyadh. The reception for Mr El Sisi on his arrival in Saudi Arabia included an air display by the kingdom's Saudi Falcons aerobatic team. Photos: @KSAMOFA
  • Saudi Arabia's Crown Prince Mohammed bin Salman takes Egypt's President Abdel Fattah El Sisi on a tour of the Unesco Heritage Site at Al Turaif in Diriyah.
    Saudi Arabia's Crown Prince Mohammed bin Salman takes Egypt's President Abdel Fattah El Sisi on a tour of the Unesco Heritage Site at Al Turaif in Diriyah.
  • Saudi Arabia's Crown Prince Mohammed bin Salman takes Egypt's President Abdel Fattah El Sisi on a tour of the Unesco Heritage Site at Al Turaif in Diriyah.
    Saudi Arabia's Crown Prince Mohammed bin Salman takes Egypt's President Abdel Fattah El Sisi on a tour of the Unesco Heritage Site at Al Turaif in Diriyah.
  • Saudi Arabia's Crown Prince Mohammed bin Salman and Egypt's President Abdel Fattah El Sisi at Al Turaif in Diriyah. The desert city on the outskirts of Riyadh was the original seat of the Al Saud family and served as the country's capital after 1727.
    Saudi Arabia's Crown Prince Mohammed bin Salman and Egypt's President Abdel Fattah El Sisi at Al Turaif in Diriyah. The desert city on the outskirts of Riyadh was the original seat of the Al Saud family and served as the country's capital after 1727.
  • Saudi Arabia's Crown Prince Mohammed bin Salman and Egypt's President Abdel Fattah El Sisi tour the streets of Al Turaif in Diriyah.
    Saudi Arabia's Crown Prince Mohammed bin Salman and Egypt's President Abdel Fattah El Sisi tour the streets of Al Turaif in Diriyah.
  • Saudi Arabia's Crown Prince Mohammed bin Salman greets Egyptian President Abdel Fattah El Sisi on his arrival in Riyadh. SPA
    Saudi Arabia's Crown Prince Mohammed bin Salman greets Egyptian President Abdel Fattah El Sisi on his arrival in Riyadh. SPA
  • Saudi Arabia's Crown Prince Mohammed bin Salman greets Egyptian President Abdel Fattah El Sisi on his arrival in Riyadh. The leaders were to discuss bilateral relations and regional and international issues. SPA
    Saudi Arabia's Crown Prince Mohammed bin Salman greets Egyptian President Abdel Fattah El Sisi on his arrival in Riyadh. The leaders were to discuss bilateral relations and regional and international issues. SPA
  • Saudi Arabia's Crown Prince Mohammed bin Salman greets Egyptian President Abdel Fattah El Sisi on his arrival in Riyadh. Their agenda includes the Russian invasion of Ukraine and the effect of Ethiopia’s construction of its Grand Renaissance Dam on the Blue Nile. SPA
    Saudi Arabia's Crown Prince Mohammed bin Salman greets Egyptian President Abdel Fattah El Sisi on his arrival in Riyadh. Their agenda includes the Russian invasion of Ukraine and the effect of Ethiopia’s construction of its Grand Renaissance Dam on the Blue Nile. SPA
  • Saudi Crown Prince Mohammed bin Salman and Egyptian President Abdel Fattah El Sisi in discussions. Their meeting addressed cultural matters, including the promotion of Arabic calligraphy as a Unesco heritage subject. SPA
    Saudi Crown Prince Mohammed bin Salman and Egyptian President Abdel Fattah El Sisi in discussions. Their meeting addressed cultural matters, including the promotion of Arabic calligraphy as a Unesco heritage subject. SPA

Egypt is concerned about the impact the Gerd will have on its share of vital water, as a downstream neighbour.

Prince Mohammed and Mr El Sisi later toured the Unesco Heritage Site Al Turaif in Diriyah in a golf cart, with the prince driving.

The ancient desert city on the outskirts of Riyadh was the original seat of power for the Al Saud family and served as the country's capital after 1727. Restoration work has been ongoing at the site since 2010.

Osama Nugali, Saudi Arabia's ambassador to Egypt, said the visit aims to help further strengthen their relations “in light of the brotherly ties that bring them together”. Saudi Arabia is the second-largest foreign investor in Egypt.

Shortly after Mr El Sisi’s arrival, Saudi Araba’s Council of Ministers agreed to establish a high-level financial dialogue with Egypt.

Trade between Saudi Arabia and Egypt over the last six years has grown to $47 billion and the volume of non-oil exports to Egypt grew 6.9 per cent last year to $1.9 billion, state-run SPA said.

Saudi Arabia’s Culture Ministry is seeking to build “artistic co-operation with Egypt,” especially on projects such as successfully putting forward the tradition of Arabic calligraphy for inclusion in Unesco’s list of cultural heritage, SPA added.

In 2019, Mr El Sisi visited Saudi Arabia at the invitation of King Salman to take part in an emergency Arab and Islamic States summit, after missile and drone attacks on the world's largest crude oil stabilisation plant. Crown Prince Mohammed last visited Egypt in 2018.

King Salman received a call from the Egyptian president last year to check on his health, SPA said. The Egyptian leader also congratulated King Salman on the kingdom's first Founding Day holiday on February 22.

Diriyah chosen as Arab City of Culture 2030- in pictures

  • Diriyah has been announced Capital of Arab Culture for 2030. SPA
    Diriyah has been announced Capital of Arab Culture for 2030. SPA
  • The old ruins at Diriyah. Getty Images
    The old ruins at Diriyah. Getty Images
  • Britain's Prince Charles (C) visits an historical site under reconstruction at the old city of al-Diriyah, on the northwestern outskirts of Riyadh, Saudi Arabia, 19 February 2014. EPA
    Britain's Prince Charles (C) visits an historical site under reconstruction at the old city of al-Diriyah, on the northwestern outskirts of Riyadh, Saudi Arabia, 19 February 2014. EPA
  • A view of the ruins of the city of Diriyah, which are being restored, 20km (12 miles) west of Riyadh, September 20, 2012. The caramel tones of the mud walls, the smell of dust mingling with water and the muffled clanging of hammer on stone at crumbling Diriyah belong not to Saudi Arabia's impoverished past, however, but a restoration project costing at least $133 million. It was in Diriyah that the ruling al-Saud family first rose to power, and in memorialising its ruins, the authorities are celebrating a telling of national history that puts the dynasty and its clerical allies front and centre. Reuters
    A view of the ruins of the city of Diriyah, which are being restored, 20km (12 miles) west of Riyadh, September 20, 2012. The caramel tones of the mud walls, the smell of dust mingling with water and the muffled clanging of hammer on stone at crumbling Diriyah belong not to Saudi Arabia's impoverished past, however, but a restoration project costing at least $133 million. It was in Diriyah that the ruling al-Saud family first rose to power, and in memorialising its ruins, the authorities are celebrating a telling of national history that puts the dynasty and its clerical allies front and centre. Reuters
  • Anthony Joshua and Andy Ruiz Jr during the IBF, WBA, WBO & IBO World Heavyweight Title Fight during the Matchroom Boxing 'Clash on the Dunes' show at the Diriyah Season on December 07, 2019 in Diriyah, Saudi Arabia. Getty Images
    Anthony Joshua and Andy Ruiz Jr during the IBF, WBA, WBO & IBO World Heavyweight Title Fight during the Matchroom Boxing 'Clash on the Dunes' show at the Diriyah Season on December 07, 2019 in Diriyah, Saudi Arabia. Getty Images
  • In the photo taken on June 30, 2020, the Development Authority of the Historical Diriyah Gate has begun to implement the first phase of the cultural and heritage project to rehabilitate and develop the historical Diriyah, "the jewel Kingdom ", with a value of 75 billion Saudi riyals, to be one of the most important tourist, cultural, educational and recreational destinations in the region and the world, benefiting from its historical location and unique culture. The area is home to the historic Al-Turaif neighborhood, which is included in the list of world heritage sites by the United Nations Educational, Scientific and Cultural Organization (UNESCO). Reuters
    In the photo taken on June 30, 2020, the Development Authority of the Historical Diriyah Gate has begun to implement the first phase of the cultural and heritage project to rehabilitate and develop the historical Diriyah, "the jewel Kingdom ", with a value of 75 billion Saudi riyals, to be one of the most important tourist, cultural, educational and recreational destinations in the region and the world, benefiting from its historical location and unique culture. The area is home to the historic Al-Turaif neighborhood, which is included in the list of world heritage sites by the United Nations Educational, Scientific and Cultural Organization (UNESCO). Reuters
  • Sam Bird of Panasonic Jaguar Racing, Jaguar I-Type 5 in action during qualifying ahead of the ABB FIA Formula E Championship - Diriyah E-Prix Round 1 on February 26, 2021 in Riyadh, Saudi Arabia. Getty Images
    Sam Bird of Panasonic Jaguar Racing, Jaguar I-Type 5 in action during qualifying ahead of the ABB FIA Formula E Championship - Diriyah E-Prix Round 1 on February 26, 2021 in Riyadh, Saudi Arabia. Getty Images
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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.”

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Hometown: Cairo

Age: 37

Favourite TV series: The Handmaid’s Tale, Black Mirror

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Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.

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Thursday, Oct 2 – Fourth ODI
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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

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Updated: March 08, 2022, 6:15 PM