UAE President Sheikh Mohamed warned on Monday that climate change poses a threat to the world’s security and stability and called on nations gathering in Egypt for Cop27 to unite to deal with the challenges facing the planet.
“We meet today at a critical juncture for our planet and future generations,” Sheikh Mohamed told the summit.
“Our world is facing complex challenges, most important of which is climate change, which now affects the world’s stability and security – including food security.
"We have only one planet, ladies and gentlemen, and with that in mind, it is imperative that we partner and work together in a spirit of determination and optimism to address this common challenge through climate action."
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Cop27 delegates arrive in Sharm El Sheikh. AFP -

Saudi Crown Prince Mohammed bin Salman and Egyptian President Abdel Fattah El Sisi shake hands during the Middle East Green Initiative conference, held on the sidelines of the the UN's Cop27 climate summit in Sharm El Sheikh, Egypt. EPA -

German Chancellor Olaf Scholz delivers a speech during the Cop27 summit. AP -

Prince Mohammed appears on a projection as he addresses leaders during the second Green Middle East Initiative summit, held on the sidelines of the Cop27 climate conference in Sharm El Sheikh. SPA -

French President Emmanuel Macron delivers a speech at Cop27. AP -

Sheikh Mohamed speaks with Jordan's King Abdullah II and Crown Prince Hussein bin Abdullah at the event. Reuters -

A sign illuminates the plenary hall at Cop27. Getty -

Sheikh Mansour, centre, visits the Bahrain Pavilion. With him is Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, UAE Special Envoy for Climate Change and chairman of Masdar. Photo: UAE Presidential Court -

Italian Prime Minister Giorgia Meloni speaks during the Cop27 summit. EPA -

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and International Co-operation, participated in the second Green Middle East Initiative conference, which began on Monday in Sharm El Sheikh. WAM -

A visitor takes a picture at the Ukrainian pavilion during Cop27. Reuters -

British Prime Minister Rishi Sunak, right, hugs French President Emmanuel Macron during a meeting at Cop27. AP -

Sheikh Mohamed with Mr Sunak. Photo: UAE Presidential Court -

A member of the Amazon indigenous delegation attends the event. EPA -

Sheikh Mohamed meets Kristalina Georgieva, managing director of the International Monetary Fund. Photo: UAE Presidential Court -

Former British prime minister Boris Johnson poses for a selfie at the event in Sharm El Sheikh. EPA -

Mr Johnson poses for a selfie at the event. EPA -

Mr Sunak addresses delegates at the Cop27 summit. AP -

Sheikh Mohamed meets Israeli President Isaac Herzog. Photo: UAE Presidential Court -

Mr Herzog delivers a speech at the summit. AFP -

UAE President Sheikh Mohamed addresses the UN's Cop27 climate summit in Sharm El Sheikh, Egypt. Photo: UAE Presidential Court -

Sheikh Mohamed attends the Cop27 summit. Photo: UAE Presidential Court -

Al Gore, chairman of Generation Investment Management, speaks at the climate conference. Bloomberg -

Mr El Sisi speaks during the plenary session at Cop27. Bloomberg -

Sheikh Mohamed with Mr El Sisi. Photo: UAE Presidential Court -

Delegates attend a session at Cop27. Bloomberg -

UN Secretary General Antonio Guterres speaks at Cop27. Getty -

Bahrain's Crown Prince Salman bin Hamad greets King Abdullah II of Jordan during a photo session at Cop27. Bloomberg -

Mr Johnson at Cop27. AP -

Prime Minister of Sweden Ulf Kristersson writes down his contact details for Mr Sunak during the Cop27 climate conference. Getty -

President Sheikh Mohamed greets Simon Stiell, executive secretary of the UN Framework Convention on Climate Change, at the event. Getty -

President Sheikh Mohamed, Jordan's King Abdullah II, Bahrain's Crown Prince Salman bin Hamad, Mr El Sisi, Mr Guterres, Mr Macron, Bulgarian President Rumen Radev, Lebanon's Prime Minister Najib Mikati and other leaders pose for a family photo during the Cop27 climate summit in Sharm El Sheikh. Reuters -

Sheikh Mohamed and King Abdullah in Sharm El Sheikh. Reuters -

Mr Scholz boards a government plane to travel to Egypt for the Cop27 summit. AP -

Sheikh Mohamed with other dignitaries. Photo: UAE Presidential Court -

Sheikh Mohamed with Bahrain's Crown Prince Salman bin Hamad and other dignitaries. Photo: UAE Presidential Court -

Sheikh Mohamed tours the conference with Dr Al Jaber. Photo: UAE Presidential Court -

From left, Mr El Sisi, Ms Meloni and Mr Guterres pose for photographs at the start of Cop27. EPA -

Mr Sunak meets European Commission President Ursula von der Leyen during the Cop27 summit. PA -

US Special Presidential Envoy for Climate John Kerry, right, at the Cop27 summit in Sharm El Sheikh. AP -

Mr Macron meets young Africans on the sidelines of Cop27. AFP -

The French president listens to young conference-goers speak at the event. AFP -

The Green Zone at Cop27. Fatima Al Mahmoud / The National -

The Green Zone aims to promote dialogue, awareness, education and commitments through events, exhibitions, workshops and talks. Fatima Al Mahmoud / The National -

It is dotted with life-size art installations, including a large panda made from recycled materials such as pieces of glass and plastic bottles. Fatima Al Mahmoud / The National -

The Green Zone will hold themed events such as Gender Day, Decarbonisation Day and Solutions Day. Fatima Al Mahmoud / The National -

It is a vast, vibrant space that offers a change of scenery. Fatima Al Mahmoud / The National -

The Green Zone is designed as a place for the business community, youths, civil societies, academics, artists and fashion experts from all over the world to express themselves. Fatima Al Mahmoud / The National -

Mr Sunak arrives in Sharm El Sheikh to attend Cop27. Getty
Sheikh Mohamed said the UAE, which hosts the next year’s climate summit, will continue to produce and export oil and gas to meet the world's needs. He said the carbon intensity in the UAE’s oil was among the world’s lowest.
He also pledged that his country would continue to work towards reducing gas emissions, citing the plan for climate neutrality by 2050 and a $100 billion deal signed recently with the US to produce clean energy.
"These initiatives ... pave the way for us to accomplish our common goal and prevent the Earth’s temperature from rising more than 1.5˚C."
He further urged leaders gathered in Sharm El Sheikh to consider the future of their children and grandchildren if they failed to act.
"The future of our children and grandchildren depends on the measures we take today."
He said Cop28 will focus on the implementation of resolutions adopted at preceding conferences and ensure suitable participation of women and young people from around the world.
Following his speech, Sheikh Mohamed tweeted his thanks to host Egypt and said that "the UAE is firmly committed to pursuing effective climate action solutions" as they prepare to host the next UN climate summit in Abu Dhabi next year.
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AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
COMPANY%20PROFILE
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
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7. Limited time periods for audits
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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
Two-step truce
The UN-brokered ceasefire deal for Hodeidah will be implemented in two stages, with the first to be completed before the New Year begins, according to the Arab Coalition supporting the Yemeni government.
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What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
Barbie
Fixtures
Wednesday
4.15pm: Japan v Spain (Group A)
5.30pm: UAE v Italy (Group A)
6.45pm: Russia v Mexico (Group B)
8pm: Iran v Egypt (Group B)
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE

