When Lamborghini — a brand synonymous with waist-high hypercars — rolled out the Urus SUV in 2018, naysayers were predictably sceptical.
The hulking machine simply wasn’t a Lambo, they argued. It would dilute the brand’s core values, they insisted.
Today, the company’s financial results prove adding an all-terrain member to its line-up was a canny move. The bigger, beefier Raging Bull has galloped ahead and now forms 60 per cent of the company's sales.
With thrusting sharp looks, and astounding straight-line pace and cornering agility, there’s little to fault in the Urus’s performance recipe. However, there’s always scope to up the ante — just as there are always willing buyers for newcomers, especially faster ones.
Cue the Urus Performante, which builds on the standard vehicle’s dynamism. Despite shedding 47 kilograms, it has gained muscle via subtle tweaks to its 4-litre twin-turbo V8 engine. The chassis and aero package have also been upgraded to yield a vehicle that’s quicker around a racetrack, yet not at the expense of day-to-day drivability.
Need for speed
Our first taste of the Urus Performante was at the dauntingly fast and undulating Nardo Handling Track in the south-eastern tip of Italy. After a few familiarisation laps, it became clear the 1.6-metre-tall SUV can be tipped into corners at speeds that barely seem credible for such a lofty chariot.
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Apart from being mind-bogglingly rapid, the Peformante is also forgiving and adjustable in the middle of a corner, so drivers of all levels can tap into a good chunk of its dynamic ability. Reassuringly, the mighty carbon-ceramic brakes also provide strong and consistent retardation.
A subsequent thrash around the Strada Bianca gravel track at Nardo reveals how fun the Performante is on rough surfaces. Engaging rally mode via the Tamburo driving mode selector loosens the electronic safety net, enabling the SUV to be flung around with surprising ease, as no more than wrist flicks are required to correct oversteer slides.
Tweaks and additions
Due to be released in the UAE early next year, the Urus Performante is expected to be priced at about Dh1.15 million ($300,000). It’s a sizeable outlay, but the new derivative is the beneficiary of a raft of upgrades, which barely leave any facet untouched.
The engine tweaks are the least significant element of the Perfomante’s upgrades as an Akrapovic exhaust system and remapped engine control unit boosts power from the standard vehicle’s 650hp to 666hp, while the peak torque figure of 850Nm remains unchanged.
Lamborghini claims the Urus Performante makes greater use of carbon-fibre composite body parts than any other SUV, as the bonnet, front and rear bumpers, splitter, wheel arch extensions and rear diffuser are all fabricated from the material. These components are the main contributors to the weight reduction, although the Performante is still not slight and comes in at 2.15 tonnes. It still comes in about 70kg lighter than Porsche’s Cayenne Turbo GT.
The Performante’s aero package includes new black front air-intakes, which deliver increased engine cooling, while a new air curtain draws airflow over the front wheels to reduce drag. Those vents in the bonnet aren’t merely for show, they extract hot air from the engine and also contribute to aero efficiency. A newly designed spoiler sits in the back, using carbon-fibre fins to increase rear downforce by 38 per cent, according to Lamborghini.
The Performante, rather unexpectedly, ditches the standard Urus’s air suspension in favour of steel springs to lower the chassis by 20 millimetres and increase stiffness by 90 per cent at the front and 51 per cent at the rear.
The wheel tracks have also been pushed out by 16mm, while the pumped guards are filled by either 22-inch or 23-inch forged alloys. Also unique to the Performante are specially developed Pirelli Trofeo R tyres.
Calling connoisseurs
Is the Urus Performante worth the extra spend over the regular model, which starts from Dh842,930 ($229,000)? For many, the answer might be no, as the latter is already searingly fast and brimming with character. But for those who simply must have extra zing and visual pizzazz in their car collection, the Performante is an absolute hoot.
Results
5pm: Reem Island – Conditions (PA) Dh80,000 (Turf) 1,600m; Winner: Farasah, Antonio Fresu (jockey), Musabah Al Muhairi
5.30pm: Sir Baniyas Island – Maiden (PA) Dh80,000 (T) 1,400m; Winner: SSR Ghazwan, Antonio Fresu, Ibrahim Al Hadhrami
6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m; Winner: Astral Del Sol, Sean Kirrane, Ibrahim Al Hadhrami
6.30pm: Al Maryah Island – Maiden (PA) Dh80,000 (T) 2,200m; Winner: Toumadher, Dane O’Neill, Jaber Bittar
7pm: Yas Island – Handicap (PA) Dh80,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
7.30pm: Saadiyat Island – Handicap (TB) Dh80,000 (T) 2,400m; Winner: Celestial Spheres, Gary Sanchez, Ismail Mohammed
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
WORLD RECORD FEES FOR GOALKEEPERS
1) Kepa Arrizabalaga, Athletic Bilbao to Chelsea (£72m)
2) Alisson, Roma to Liverpool (£67m)
3) Ederson, Benfica to Manchester City (£35m)
4) Gianluigi Buffon, Parma to Juventus (£33m)
5) Angelo Peruzzi, Inter Milan to Lazio (£15.7m
Zayed Sustainability Prize
UAE currency: the story behind the money in your pockets
Pathaan
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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
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
Recipe: Spirulina Coconut Brothie
Ingredients
1 tbsp Spirulina powder
1 banana
1 cup unsweetened coconut milk (full fat preferable)
1 tbsp fresh turmeric or turmeric powder
½ cup fresh spinach leaves
½ cup vegan broth
2 crushed ice cubes (optional)
Method
Blend all the ingredients together on high in a high-speed blender until smooth and creamy.
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
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