President Abdel Fattah El Sisi has told Egyptians that a large dam being built by Ethiopia on the Nile will not reduce Egypt’s share of the river's water.
“No one can come near Egypt’s water," Mr El Sisi said late on Monday.
"How? We talk, we employ diplomacy and patience," he said, without addressing recent comments by Ethiopian officials that Addis Ababa was open to resuming talks on the Grand Ethiopian Renaissance Dam.
The last round of talks between Ethiopia, Egypt and Sudan on the hydroelectric dam, in April last year, broke down amid a flurry of acrimonious comments by officials from the three Nile basin nations that have a combined population of about 250 million.
Meanwhile, Egypt has embarked on large water conservation projects that will make the maximum use of the Nile’s water, Mr El Sisi said.
The most populous Arab nation depends on the river for more than 90 per cent of its fresh water needs.
"I have done everything that could be done," he said. "I was patient, gave a chance and worked with what I have to maximise its use.”
Egypt has repeatedly said that a reduction in its share of the Nile waters, currently at about 55 billion cubic metres, could wipe out hundreds of thousands of jobs in its large agriculture sector and upset its delicate food balance at a time when its population is increasing by more than two million every year.
Sileshi Bekele, Ethiopia’s former negotiator on the dam and the country’s ambassador to the US, expressed earlier this month Addis Ababa’s interest in the resumption of the talks during a meeting with the new US special envoy to the Horn of Africa, Mike Hammer.
Ethiopia’s foreign ministry cited the ambassador as highlighting “Ethiopia’s interest to resume the African Union-led trilateral negotiation over the GERD”.
Blue and White Nile rivers
Egypt and Sudan, its southern neighbour, have long insisted that Ethiopia must enter a legally binding agreement on the filling and running of the $5 billion dam on the Blue Nile, which contributes more than 80 per cent of the combined water volume after joining the White Nile in northern Sudan.
Sudan maintains that real-time data on the dam’s operation would spare it from floods and ensure work at its own power-generating dams on the Blue Nile isn't disrupted.
Ethiopia says the electricity generated by the dam, the largest in Africa, will lift millions out of poverty and allow the impoverished Horn of Africa nation to tap its vast natural resources.
It refuses to enter a legally binding deal on the dam, arguing that recommendations should be sufficient.
Addis Ababa has also rejected proposals by Cairo and Khartoum that the World Bank, the EU and the US be involved in the talks as mediators.
In February, Ethiopia said it had started producing power from one unit of the dam and is set for a third filling of the water reservoir behind the dam this summer during the peak of the flood season.
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Syrian National Security Bureau
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General Organisation of Radio and TV
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Key 2013/14 UAE Motorsport dates
October 4: Round One of Rotax Max Challenge, Al Ain (karting)
October 1: 1 Round One of the inaugural UAE Desert Championship (rally)
November 1-3: Abu Dhabi Grand Prix (Formula One)
November 28-30: Dubai International Rally
January 9-11: 24Hrs of Dubai (Touring Cars / Endurance)
March 21: Round 11 of Rotax Max Challenge, Muscat, Oman (karting)
April 4-10: Abu Dhabi Desert Challenge (Endurance)
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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