Hamas launches biggest attack on Israel in years


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Hamas has launched the biggest attack on Israel in years in a surprise assault that involved gunmen crossing the border from Gaza with a heavy barrage of rockets from the Palestinian enclave.

Militants in Gaza launched dozens of rockets towards Israel early on Saturday, as air raid sirens sounded across the country.

Warnings of incoming rockets were heard for several minutes in southern areas surrounding Gaza and in the greater Tel Aviv and Jerusalem areas.

Israel's ambulance service said at least 40 Israelis were killed and hundreds wounded in the Hamas attack but the total appeared likely to rise, making it the deadliest attack in Israel in years.

The Palestinian Health Ministry confirmed at least 198 were killed so far while 1,610 were wounded by Saturday afternoon in Gaza following Israeli retaliation on the Palestinian territory.

Following the rocket attacks, Israel declared a state of alert for war and sent aircraft to strike back.

Explosions could also be heard in cities around Tel Aviv and outside Jerusalem.

The rocket fire was launched from several locations in Gaza starting at 6.30am, AFP reported.

The Israeli army urged the public to stay close to bomb shelters.

Israeli soldiers 'captured'

Unverified videos circulating on social media from Gaza showed militants dragging the bodies of several Israeli soldiers into the streets in celebration.

  • Palestinians transport a captured Israeli civilian from Kibbutz Kfar Azza into the Gaza Strip. AP
    Palestinians transport a captured Israeli civilian from Kibbutz Kfar Azza into the Gaza Strip. AP
  • Palestinians celebrate by a destroyed Israeli tank at the Gaza Strip border fence, east of Khan Younis. AP
    Palestinians celebrate by a destroyed Israeli tank at the Gaza Strip border fence, east of Khan Younis. AP
  • Smoke rises from an area near a power plant outside Ashkelon, Israel. AP
    Smoke rises from an area near a power plant outside Ashkelon, Israel. AP
  • Palestinians walk away from the Kfar Azza area of Israel, near the border fence with the Gaza strip. AP
    Palestinians walk away from the Kfar Azza area of Israel, near the border fence with the Gaza strip. AP
  • A rocket is launched from Gaza towards Israel by militants of Ezzedine Al Qassam, the military wing of Hamas. PA
    A rocket is launched from Gaza towards Israel by militants of Ezzedine Al Qassam, the military wing of Hamas. PA
  • Israeli rescuers tend to an elderly man at the entrance of a building in Ashkelon struck by a rocket fired from the Gaza Strip. AFP
    Israeli rescuers tend to an elderly man at the entrance of a building in Ashkelon struck by a rocket fired from the Gaza Strip. AFP
  • Smoke rises following Israeli strikes in Gaza. Reuters
    Smoke rises following Israeli strikes in Gaza. Reuters
  • Palestinians return to Gaza City driving an Israeli Humvee that was seized after militants entered Israel. AFP
    Palestinians return to Gaza City driving an Israeli Humvee that was seized after militants entered Israel. AFP
  • A rocket is launched from the Gaza strip towards Israel by Ezzedine Al Qassam militants. EPA
    A rocket is launched from the Gaza strip towards Israel by Ezzedine Al Qassam militants. EPA
  • Israelis queue to donate blood at a hospital in Tel Aviv, to help people wounded in the Palestinian attacks. AFP
    Israelis queue to donate blood at a hospital in Tel Aviv, to help people wounded in the Palestinian attacks. AFP
  • An aerial view shows vehicles on fire as rockets are launched from the Gaza Strip, in Ashkelon, southern Israel. Reuters
    An aerial view shows vehicles on fire as rockets are launched from the Gaza Strip, in Ashkelon, southern Israel. Reuters
  • Palestinian militants move towards the border fence with Israel from Khan Yunis in the southern Gaza Strip. AFP
    Palestinian militants move towards the border fence with Israel from Khan Yunis in the southern Gaza Strip. AFP
  • Smoke billows from residential buildings following Israeli airstrikes in Gaza City. AFP
    Smoke billows from residential buildings following Israeli airstrikes in Gaza City. AFP
  • A man runs past cars damaged during a rocket attack in Ashkelon, Israel. Bloomberg
    A man runs past cars damaged during a rocket attack in Ashkelon, Israel. Bloomberg
  • Palestinians surround an Israeli military vehicle hit by Palestinian gunmen who infiltrated areas of southern Israel, on the Israeli side of Israel-Gaza border. Reuters
    Palestinians surround an Israeli military vehicle hit by Palestinian gunmen who infiltrated areas of southern Israel, on the Israeli side of Israel-Gaza border. Reuters
  • Israeli police evacuate a family from a site hit by a rocket fired from the Gaza Strip. AP
    Israeli police evacuate a family from a site hit by a rocket fired from the Gaza Strip. AP
  • A rocket is launched from the Gaza strip towards Israel by militants of the Ezzedine Al Qassam Brigades, the military wing of Hamas. EPA
    A rocket is launched from the Gaza strip towards Israel by militants of the Ezzedine Al Qassam Brigades, the military wing of Hamas. EPA
  • Israeli police officers evacuate a woman and a child from a site hit by a rocket fired from the Gaza Strip. AP
    Israeli police officers evacuate a woman and a child from a site hit by a rocket fired from the Gaza Strip. AP
  • Ezzedine Al Qassam fighters move towards the Erez crossing between Israel and the northern Gaza Strip. AFP
    Ezzedine Al Qassam fighters move towards the Erez crossing between Israel and the northern Gaza Strip. AFP
  • A member of Israeli security forces tries to extinguish fire on cars following a rocket attack from the Gaza Strip in Ashkelon, southern Israel. AFP
    A member of Israeli security forces tries to extinguish fire on cars following a rocket attack from the Gaza Strip in Ashkelon, southern Israel. AFP
  • Palestinian militants of the Ezzedine al-Qassam Brigades move towards the Erez crossing between Israel and the northern Gaza Strip. AFP
    Palestinian militants of the Ezzedine al-Qassam Brigades move towards the Erez crossing between Israel and the northern Gaza Strip. AFP
  • Israeli military drive on a road in southern Israel, as rockets are launched from the Gaza Strip, outside Sderot. Reuters
    Israeli military drive on a road in southern Israel, as rockets are launched from the Gaza Strip, outside Sderot. Reuters
  • Smoke billows from a residential building following an Israeli airstrike in Gaza City. AFP
    Smoke billows from a residential building following an Israeli airstrike in Gaza City. AFP
  • The Rehovot area south of Tel Aviv after rockets were launched from the Gaza Strip. Reuters
    The Rehovot area south of Tel Aviv after rockets were launched from the Gaza Strip. Reuters
  • Palestinians celebrate as an Israeli tank burns after it was hit by Palestinian gunmen in southern Israel. Reuters
    Palestinians celebrate as an Israeli tank burns after it was hit by Palestinian gunmen in southern Israel. Reuters
  • A building in Tel Aviv ablaze following rocket attacks from the Gaza Strip, in Tel Aviv, Israel. Reuters
    A building in Tel Aviv ablaze following rocket attacks from the Gaza Strip, in Tel Aviv, Israel. Reuters
  • Israeli soldiers mobilise on a road in central Israel. AP Photo
    Israeli soldiers mobilise on a road in central Israel. AP Photo
  • Residents gather outside a damaged building in Tel Aviv following a rocket attack from the Gaza Strip into Israel. AFP
    Residents gather outside a damaged building in Tel Aviv following a rocket attack from the Gaza Strip into Israel. AFP
  • A rocket is launched by the Ezz Al Din Al Qassam militia from the coastal Gaza strip towards Israel. EPA
    A rocket is launched by the Ezz Al Din Al Qassam militia from the coastal Gaza strip towards Israel. EPA
  • A building in the Israeli city of Gedera burns after a direct hit by rockets launched from Gaza. EPA
    A building in the Israeli city of Gedera burns after a direct hit by rockets launched from Gaza. EPA
  • Smoke rises after a rocket fired from the Gaza Strip hit a house in Ashkelon, southern Israel. AP Photo
    Smoke rises after a rocket fired from the Gaza Strip hit a house in Ashkelon, southern Israel. AP Photo
  • Smoke rising from the direction of the Israeli cities of Ashdod and Gedera following rocket launches from Gaza on Saturday. EPA
    Smoke rising from the direction of the Israeli cities of Ashdod and Gedera following rocket launches from Gaza on Saturday. EPA
  • Rockets fired from Gaza on Saturday morning head towards Israel. AP Photo
    Rockets fired from Gaza on Saturday morning head towards Israel. AP Photo
  • The rocket barrages from Gaza hit the coastal city of Ashkelon in southern Israel. Reuters
    The rocket barrages from Gaza hit the coastal city of Ashkelon in southern Israel. Reuters
  • Rocket contrails in the air over Gaza as Palestinian missiles are sent into Israel. Reuters
    Rocket contrails in the air over Gaza as Palestinian missiles are sent into Israel. Reuters
  • The aftermath of rocket barrages in Ashkelon, southern Israel. Reuters
    The aftermath of rocket barrages in Ashkelon, southern Israel. Reuters
  • Rockets are fired toward Israel from Gaza. AP Photo
    Rockets are fired toward Israel from Gaza. AP Photo
  • Israeli emergency personnel sit under a tree in Ashkelon after rockets were launched into Israel from the Gaza Strip. Reuters
    Israeli emergency personnel sit under a tree in Ashkelon after rockets were launched into Israel from the Gaza Strip. Reuters
  • Dozens of rockets were fired from the blockaded Gaza Strip towards Israel. AFP
    Dozens of rockets were fired from the blockaded Gaza Strip towards Israel. AFP
  • Residents in Ashkelon look to the skies after rockets launched from the Gaza Strip shake their neighbourhood. Reuters
    Residents in Ashkelon look to the skies after rockets launched from the Gaza Strip shake their neighbourhood. Reuters
  • Rockets are fired from Gaza City as Israel's Iron Dome air defence system attempts to intercept them. AFP
    Rockets are fired from Gaza City as Israel's Iron Dome air defence system attempts to intercept them. AFP
  • Security tape is rolled out in the streets after rockets launched from the Gaza Strip hit Israel. Reuters
    Security tape is rolled out in the streets after rockets launched from the Gaza Strip hit Israel. Reuters
  • A man watches as rockets are fired from Gaza City towards Israel. AFP
    A man watches as rockets are fired from Gaza City towards Israel. AFP
  • Rockets are fired from Gaza City towards Israel. AFP
    Rockets are fired from Gaza City towards Israel. AFP
  • A resident surveys the damage after rockets from the Gaza Strip hit Ashkelon in Israel. Reuters
    A resident surveys the damage after rockets from the Gaza Strip hit Ashkelon in Israel. Reuters
  • Residents follow the sound of rockets launched from the Gaza Strip as they hit Ashkelon in Israel. Reuters
    Residents follow the sound of rockets launched from the Gaza Strip as they hit Ashkelon in Israel. Reuters
  • Israeli firefighters extinguish fire after a rocket attack on Ashkelon. AP Photo
    Israeli firefighters extinguish fire after a rocket attack on Ashkelon. AP Photo
  • A man flees rockets fired from the Gaza Strip, in Ashkelon, Reuters
    A man flees rockets fired from the Gaza Strip, in Ashkelon, Reuters
  • Rockets fired from Gaza City towards Israel rise into the early morning sky. AFP
    Rockets fired from Gaza City towards Israel rise into the early morning sky. AFP
  • An emergency worker fights fire after rockets launched from the Gaza Strip hit Israel. Reuters
    An emergency worker fights fire after rockets launched from the Gaza Strip hit Israel. Reuters
  • Rockets are fired from Gaza City towards Israel. AFP
    Rockets are fired from Gaza City towards Israel. AFP
  • A barrage of rockets from Gaza City are filmed as they make their way towards Israel. AFP
    A barrage of rockets from Gaza City are filmed as they make their way towards Israel. AFP

The former head of Israel’s National Security Council, Maj Gen Giora Eiland, told The National that Israeli forces are likely to hold off on taking extraordinary measures to conduct a rescue mission to retrieve captured soldiers taken into Gaza.

“I don’t think that we will try to do something specifically today in regards to these people. I think this will happen in the second phase once we push back the Hamas fighters to Gaza.

“But one of the main goals will be to bring them back, hopefully alive. I don’t think we’ll stop the operation until we have them,” he said.

The Israeli military said it was hitting the Gaza Strip after Hamas, the militant group that controls of the enclave, announced another operation against Israel.

At least three explosions could be heard as Israel's anti-rocket defences went into operation.

Following a security cabinet meeting at the Israeli military headquarters in Tel Aviv, Defence Minister Yoav Gallant warned that Hamas “made a grave mistake” in launching barrages of rockets into southern and central Israel in its surprise morning attack.

In one of the most serious escalations in years between Israel and the militant group that rules Gaza, Hamas gunmen crossed the border fence at several places and infiltrated Israeli communities.

“The state of Israel will win this war,” Mr Gallant said.

The attack in Jerusalem is considered a major escalation by Israel.

More than 5,000 rockets were fired from the Gaza Strip into Israel, Hamas's armed wing said. It announced it had started “Operation Al Aqsa Flood”.

A map shows the sites of Hamas rocket attacks against Israel. The National
A map shows the sites of Hamas rocket attacks against Israel. The National

“We decided to put an end to all the crimes of the occupation (Israel), their time for rampaging without being held accountable is over,” the group said.

“We announce Operation Al Aqsa Flood and we fired, in the first strike of 20 minutes, more than 5,000 rockets.”

A senior Hamas official told The National that the operation on Saturday was a response “to the crimes of the occupation”.

“Our fighters today are carrying out a massive operation in our defence of our Al Aqsa Mosque in Jerusalem and the thousands of Palestinian prisoners held by Israel,” he said.

Ari, 29, told The National from Tel Aviv that residents of the city were awakened early on Saturday by the sirens and immediately sought shelter.

“Behind my building on the main road, people were running into the bomb shelter. I was the last one in. There were kids streaming in and I was throwing them down. Just before I got down, we heard a massive boom. I looked behind and there was smoke billowing out,” he said.

Speaking to The National from Gaza, Abdullah Hammoudeh, 31, said residents have begun taking shelter in anticipation of continued aerial bombardment from Israel.

“Things have been moving very, very fast for us this morning. We've started taking extra precautions right now by stocking up on food and our emergency necessities in case this escalates to the levels of the 2008 war and 2014. There's a lot of tension among us and we're afraid of the days to come,” he said.

Vehicles burn in Ashkelon after Hamas fired rockets from Gaza. Reuters
Vehicles burn in Ashkelon after Hamas fired rockets from Gaza. Reuters

Rising casualties

The Israeli rescue service Magen David Adom reported at least 16 casualties, including a woman in her 60s who was killed when a rocket fired from Gaza made a direct hit. Two others were in serious condition.

There were reports of many more casualties on both sides, but authorities did not immediately release details. Israeli media reported that dozens of people were hospitalised in southern Israel. The Palestinian Health Ministry in Gaza reported injuries among “many citizens” without giving numbers and loudspeakers on mosques broadcast prayers of mourning for killed militants.

The office of Israeli Prime Minister Benjamin Netanyahu said he would convene a meeting with security chiefs.

Israel has imposed a blockade on Gaza since 2007 after Hamas took power.

The latest escalation in violence comes after more than a week of tensions in Israel after soldiers shot and killed two Palestinians in the occupied West Bank on Thursday.

Abdul Rahman Atta, 23, and Huthaifa Faris, 27, were near killed near the village of Shufa.

An increase in Jewish worshippers entering Al Aqsa Mosque compound in Jerusalem over the holiday of Sukkot this past week has also contributed to a rise in tensions.

The mosque, the third holiest site in Islam, is the most sensitive site in the Palestinian-Israeli conflict.

The mosque fell under Jordanian authority after Israel was created in 1948. Israel captured the site in East Jerusalem in the 1967 war but allowed it to remain under Jordanian administration.

Chris Doyle, director of the Centre for Arab British Understanding, said the “long-term failure” on Gaza is likely to prolong the conflict.

“There is a long-term failure on Gaza and on the issue of Palestine: the assumption that you can leave that small strip of land to fester and it can stay contained. It won’t,” he told The National.

“The international community as a whole has to take stock of this. We have a long-term situation in Gaza which is completely unsustainable, two million under blockade with no horizon,” he said.

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Benefits of first-time home buyers' scheme
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  • DLD registration fee can be paid through banks or credit cards at zero interest rates
What is blockchain?

Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.

The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.

Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.

However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.

Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.

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

Farasan Boat: 128km Away from Anchorage

Director: Mowaffaq Alobaid 

Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani

Rating: 4/5

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Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

UAE currency: the story behind the money in your pockets
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'Worse than a prison sentence'

Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.

“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.

“They were living in perpetual mystery as to how their futures would pan out, and what that would be.

“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.

“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.

“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”

Ads on social media can 'normalise' drugs

A UK report on youth social media habits commissioned by advocacy group Volteface found a quarter of young people were exposed to illegal drug dealers on social media.

The poll of 2,006 people aged 16-24 assessed their exposure to drug dealers online in a nationally representative survey.

Of those admitting to seeing drugs for sale online, 56 per cent saw them advertised on Snapchat, 55 per cent on Instagram and 47 per cent on Facebook.

Cannabis was the drug most pushed by online dealers, with 63 per cent of survey respondents claiming to have seen adverts on social media for the drug, followed by cocaine (26 per cent) and MDMA/ecstasy, with 24 per cent of people.

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.
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Profile of VoucherSkout

Date of launch: November 2016

Founder: David Tobias

Based: Jumeirah Lake Towers

Sector: Technology

Size: 18 employees

Stage: Embarking on a Series A round to raise $5 million in the first quarter of 2019 with a 20 per cent stake

Investors: Seed round was self-funded with “millions of dollars” 

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

How to become a Boglehead

Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.

•   Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.

•   Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.

•   Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.

•   Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.

•   Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.

•   Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.

•   Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.

•   Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.

Polarised public

31% in UK say BBC is biased to left-wing views

19% in UK say BBC is biased to right-wing views

19% in UK say BBC is not biased at all

Source: YouGov

The specs: 2017 Ford F-150 Raptor

Price, base / as tested Dh220,000 / Dh320,000

Engine 3.5L V6

Transmission 10-speed automatic

Power 421hp @ 6,000rpm

Torque 678Nm @ 3,750rpm

Fuel economy, combined 14.1L / 100km

The biog

Alwyn Stephen says much of his success is a result of taking an educated chance on business decisions.

His advice to anyone starting out in business is to have no fear as life is about taking on challenges.

“If you have the ambition and dream of something, follow that dream, be positive, determined and set goals.

"Nothing and no-one can stop you from succeeding with the right work application, and a little bit of luck along the way.”

Mr Stephen sells his luxury fragrances at selected perfumeries around the UAE, including the House of Niche Boutique in Al Seef.

He relaxes by spending time with his family at home, and enjoying his wife’s India cooking. 

Updated: October 07, 2023, 1:40 PM