• Egyptian collector of vintage cars, Sayed Sima, 70, stands next to a 1948 British Standard Flying Eight Tourer automobile in his store where he also has his own exhibition of old cars, in the Giza suburb of Abu Rawash, Egypt. Reuters
    Egyptian collector of vintage cars, Sayed Sima, 70, stands next to a 1948 British Standard Flying Eight Tourer automobile in his store where he also has his own exhibition of old cars, in the Giza suburb of Abu Rawash, Egypt. Reuters
  • Sima's son, Sayed, 38, checks the battery of a British Standard Flying Eight Tourer - 1948 automobile. Reuters
    Sima's son, Sayed, 38, checks the battery of a British Standard Flying Eight Tourer - 1948 automobile. Reuters
  • A black 1975 Chevrolet Impala, a presidential car of late Egyptian president Anwar El Sadat, is seen in the store of Sayed Sima. Reuters
    A black 1975 Chevrolet Impala, a presidential car of late Egyptian president Anwar El Sadat, is seen in the store of Sayed Sima. Reuters
  • Sayed Sima sits on an Italian 1928 Fiat 501 automobile at his father's store. Reuters
    Sayed Sima sits on an Italian 1928 Fiat 501 automobile at his father's store. Reuters
  • Ayman Sima stands next to an Italian 1928 Fiat 501 automobile at his father's store. Reuters
    Ayman Sima stands next to an Italian 1928 Fiat 501 automobile at his father's store. Reuters
  • Aymandrives a British Standard Flying Eight Tourer - 1948 automobile at his father's store. Reuters
    Aymandrives a British Standard Flying Eight Tourer - 1948 automobile at his father's store. Reuters
  • An American 1934 Nash Ambassador automobile is seen in the store of Sayed Sima. Reuters
    An American 1934 Nash Ambassador automobile is seen in the store of Sayed Sima. Reuters
  • A view of the store and exhibition of old cars owned by Sayed Sima. Reuters
    A view of the store and exhibition of old cars owned by Sayed Sima. Reuters
  • Sayed Sima speaks during an interview with Reuters seated on a 120-year-old American 1900 Auburn car in his store. Reuters
    Sayed Sima speaks during an interview with Reuters seated on a 120-year-old American 1900 Auburn car in his store. Reuters
  • Sayed Sima stands next to a 120-year-old American 900 Auburn automobile in his store. Reuters
    Sayed Sima stands next to a 120-year-old American 900 Auburn automobile in his store. Reuters
  • Sayed Sima sits in a 120-year-old American 1900 Auburn automobile in his store. Reuters
    Sayed Sima sits in a 120-year-old American 1900 Auburn automobile in his store. Reuters
  • Sayed Sima checks a 120-year-old American 1900 Auburn automobile in his store. Reuters
    Sayed Sima checks a 120-year-old American 1900 Auburn automobile in his store. Reuters

Meet the Egyptian man with a collection of more than 100 vintage cars


  • English
  • Arabic

Sayed Sima was about 25 years old when he began collecting vintage cars, attracted by their beauty and rarity, as well as their relatively cheap price tag.

More than half a century later, Sima – a nickname derived from the Egyptian slang for cinema – now has a collection of hundreds of vintage cars, many of which he keeps in Egypt's Media Production City where directors rent them as props for historical shows and films.

The oldest car in Sima’s collection is an Auburn which he acquired in the 1980s.

"This is of course a very rare car, a car that is entirely a piece of antique," he says, sitting in the Auburn to showcase its wooden frame and steel coating.

"Its original tank is still inside. It's a beautiful car. Its structure is all wood."

Sima remains fascinated by the way older cars operate.

His son, Ayman, 38, shares this peculiar passion after growing up seeing his father's cars feature in movies.

"I also liked how I saw these cars on movie screens. I would see a movie and think, oh it is our car," he says.

Among the famous figures who once rode in one of Sima's cars was former Egyptian president Anwar El Sadat, whose presidential car was a black 1975 Chevrolet Impala, says Sima.

'My Son'

Director: Christian Carion

Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis

Rating: 2/5

List of alleged parties

 

May 12, 2020: PM and his wife Carrie attend 'work meeting' with at least 17 staff 

May 20, 2020: They attend 'bring your own booze party'

Nov 27, 2020: PM gives speech at leaving party for his staff 

Dec 10, 2020: Staff party held by then-education secretary Gavin Williamson 

Dec 13, 2020: PM and his wife throw a party

Dec 14, 2020: London mayoral candidate Shaun Bailey holds staff event at Conservative Party headquarters 

Dec 15, 2020: PM takes part in a staff quiz 

Dec 18, 2020: Downing Street Christmas party 

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

COMPANY PROFILE
Name: Mamo 

 Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua

 Based: Dubai, UAE

 Number of employees: 28

 Sector: Financial services

 Investment: $9.5m

 Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. 

 
The specs

Engine: 5.2-litre V10

Power: 640hp at 8,000rpm

Torque: 565Nm at 6,500rpm

Transmission: 7-speed dual-clutch auto

Price: From Dh1 million

On sale: Q3 or Q4 2022 

RESULTS

6.30pm: Meydan Sprint Group 2 US$175,000 1,000m
Winner: Ertijaal, Jim Crowley (jockey), Ali Rashid Al Raihe (trainer)

7.05pm: Handicap $60,000 1,400m
Winner: Secret Ambition, Richard Mullen, Satish Seemar

7.40pm: Handicap $160,000 1,400m
Winner: Raven’s Corner, Richard Mullen, Satish Seemar

8.15pm: Dubai Millennium Stakes Group 3 $200,000 2,000m
Winner: Folkswood, William Buick, Charlie Appleby

8.50pm: Zabeel Mile Group 2 $250,000 1,600m
Winner: Janoobi, Jim Crowley, Mike de Kock

9.25pm: Handicap $125,000 1,600m
Winner: Capezzano, Mickael Barzalona, Salem bin Ghadayer

RESULTS

1.45pm: Handicap (TB) Dh80,000 (Dirt) 1,400m
Winners: Hyde Park, Royston Ffrench (jockey), Salem bin Ghadayer (trainer)

2.15pm: Conditions (TB) Dh100,000 (D) 1,400m
Winner: Shamikh, Ryan Curatolo, Nicholas Bachalard

2.45pm: Conditions (TB) Dh100,000 (D) 1,200m
Winner: Hurry Up, Royston Ffrench, Salem bin Ghadayer.

3.15pm: Shadwell Jebel Ali Mile Group 3 (TB) Dh575,000 (D) 1,600m
Winner: Blown by Wind, Xavier Ziani, Salem bin Ghadayer

3.45pm: Handicap (TB) Dh72,000 (D) 1,600m
Winner: Mazagran, Tadhg O’Shea, Satish Seemar.

4.15pm: Handicap (TB) Dh64,000 (D) 1,950m
Winner: Obeyaan, Adrie de Vries, Mujeeb Rehman

4.45pm: Handicap (TB) Dh84,000 (D) 1,000m
Winner: Shanaghai City, Fabrice Veron, Rashed Bouresly.

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

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

COMPANY%20PROFILE
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The biog

Hobby: "It is not really a hobby but I am very curious person. I love reading and spend hours on research."

Favourite author: Malcom Gladwell 

Favourite travel destination: "Antigua in the Caribbean because I have emotional attachment to it. It is where I got married."

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
How has net migration to UK changed?

The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.

It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.

The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.

The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.