• A satellite image shows the Grand Ethiopian Renaissance Dam on the Blue Nile river in July, 2020. Maxar Technologies via AP
    A satellite image shows the Grand Ethiopian Renaissance Dam on the Blue Nile river in July, 2020. Maxar Technologies via AP
  • The project - which began in 2011 - has become a flashpoint between Ethiopia and several of its neighbours. Maxar Technologies via Reuters
    The project - which began in 2011 - has become a flashpoint between Ethiopia and several of its neighbours. Maxar Technologies via Reuters
  • For Ethiopia, the dam will make a huge difference to power generation, doubling annual output and connecting millions of Ethiopian families to the grid. AFP
    For Ethiopia, the dam will make a huge difference to power generation, doubling annual output and connecting millions of Ethiopian families to the grid. AFP
  • Egypt maintains that the dam on the Blue Nile, the River Nile's main tributary, will jeopardise its water supply. AFP
    Egypt maintains that the dam on the Blue Nile, the River Nile's main tributary, will jeopardise its water supply. AFP
  • The $4 billion is about 90 per cent completed. Maxar Technologies via Reuters
    The $4 billion is about 90 per cent completed. Maxar Technologies via Reuters
  • An aerial view Grand Ethiopian Renaissance Dam on the Blue Nile River in Guba, northwest Ethiopia, on the 20th July. AFP
    An aerial view Grand Ethiopian Renaissance Dam on the Blue Nile River in Guba, northwest Ethiopia, on the 20th July. AFP

El Sisi says Egypt determined to resolve Nile dam dispute with Ethiopia


Hamza Hendawi
  • English
  • Arabic

Egypt is determined to do everything it can to resolve its dispute with Ethiopia over the potential effect on its water share from a hydroelectric dam Addis Ababa is building on the Nile, President Abdel Fattah El Sisi has said.

Cairo has long complained that the dam ― formally known as the Grand Ethiopian Renaissance Dam, or Gerd ― would reduce its share of the Nile waters, on which it depends for almost all its fresh water needs. That, it insists, would devastate its vital agriculture sector, disrupting its delicate food balance and putting millions out of work.

“Egypt, realising the gravity of this issue and its existential importance, is renewing its commitment to settle the issue of the renaissance dam in a manner that will realise the interests of all parties,” the Egyptian leader said at a water conference in Cairo.

“Egypt calls on the international community to bolster and reinforce efforts to achieve this just aim,” he said, according to a text of his comments released by his office late on Sunday.

Responding to Egypt’s fears, Ethiopia has long maintained that the dam was unlikely to hurt the interests of downstream Egypt and Sudan, but it has also refused to enter a legally-binding agreement on the operation of the dam or agree on a mechanism to deal with future droughts.

The nearly complete $5-billion dam is being built on the Blue Nile, the river’s main tributary contributing the majority of the water reaching Egypt. It enters Sudan from the east before it joins the White Nile near Sudan’s capital Khartoum and travels north to Egypt.

Ethiopia says the power generated by the dam is key to its development, lifting millions of its people from poverty and allowing the Horn of Africa nation to export electricity to some of its neighbours.

In his Sunday comments, President El Sisi spoke of Egypt’s predicament as it struggles to deal with what he called water and food security and climate change.

“Egypt is one of the world’s driest countries and depends almost exclusively on the Nile for its renewable water sources,” he said, explaining that 80 per cent of the river’s water goes to agriculture, a sector that is a lifeline for the country’s 104 million people.

“In light of this unique water scarcity, Egypt’s water resources are no longer meeting the needs of its people despite the implementation of water conservation policies and the repeated use of irrigation water,” he said.

Egyptian farmers in the Nile Delta north of Cairo. EPA
Egyptian farmers in the Nile Delta north of Cairo. EPA

Climate change has also had an effect on Egypt’s vital agriculture sector, with the rising water levels of the Mediterranean steadily encroaching on the fertile farmlands of the Nile Delta in northern Egypt, an area that has long been the country’s food basket.

In a thinly-veiled reference to Ethiopia’s Gerd, the Egyptian leader said Cairo wanted to see more cooperation between the Nile basin nations “rather than unilateral moves and uncooperative competition that leave us with limited and inadequate results in both size and scope.”

The last round of negotiations on the Gerd between Egypt, Sudan and Ethiopia broke down in April last year in the Democratic Republic of Congo. There has been no word since on when negotiations were likely to resume.

Egypt’s delicate food balance has come into focus since the Russia-Ukraine war halted its wheat imports from the two nations, which normally account for 80 per cent of the country’s wheat imports.

Often the world’s largest wheat importer, Egypt endured steep hikes in wheat prices on world markets after the war broke out in February. Authorities meanwhile ordered local growers to sell around six million tonnes of wheat from this year’s harvest to the government under a programme that included incentives, as well as hefty fines for farmers in breach of the order or hoarders.

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

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2.45pm: Al Shafar Investment – Handicap (TB) Dh80,000 (D) 1,200m; Winner: Day Approach, Ray Dawson, Ahmad bin Harmash

3.15pm: Dubai Real estate Centre – Handicap (TB) Dh80,000 (D) 1,600m; Winner: Celtic Prince, Richard Mullen, Rashed Bouresly

3.45pm: Jebel Ali Sprint by ARM Holding – Listed (TB) Dh500,000 (D) 1,000m; Winner: Khuzaam, Pat Dobbs, Doug Watson

4.15pm: Shadwell – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Tenbury Wells, Royston Ffrench, Salem bin Ghadayer

4.45pm: Jebel Ali Stakes by ARM Holding – Listed (TB) Dh500,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson

5.15pm: Jebel Ali Racecourse – Handicap (TB) Dh76,000 (D) 1,950m; Winner: Rougher, Pat Dobbs, Doug Watson

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Teachers' pay - what you need to know

Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

 

 

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

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Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin

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MATCH INFO

Uefa Champions League semi-final, second leg result:

Ajax 2-3 Tottenham

Tottenham advance on away goals rule after tie ends 3-3 on aggregate

Final: June 1, Madrid

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

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U19 WORLD CUP, WEST INDIES

UAE group fixtures (all in St Kitts)

  • Saturday 15 January: UAE beat Canada by 49 runs 
  • Thursday 20 January: v England 
  • Saturday 22 January: v Bangladesh 

UAE squad:

Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles
Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly,
Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya
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What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

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Updated: June 15, 2023, 11:50 AM