Isaac Herzog speaks at the AIPAC Policy Conference, Washington, in 2017. AP Photo
Isaac Herzog speaks at the AIPAC Policy Conference, Washington, in 2017. AP Photo
Isaac Herzog speaks at the AIPAC Policy Conference, Washington, in 2017. AP Photo
Isaac Herzog speaks at the AIPAC Policy Conference, Washington, in 2017. AP Photo

Israeli legislators elect Isaac Herzog for next president


  • English
  • Arabic

The Israeli parliament on Wednesday chose Isaac Herzog, a veteran politician and scion of a prominent Israeli family, as the country's next president.

The president in Israel is largely a figurehead, meant to serve as the nation's moral compass and promote unity.

The election was conducted at the Knesset, Israel's parliament, where 120 legislators were eligible to cast their votes anonymously.

Mr Herzog, 60, is a former head of Israel’s Labour Party and opposition leader who unsuccessfully ran against Israeli Prime Minister Benjamin Netanyahu in the 2013 parliamentary elections. He was elected with 87 votes.

He has deep ties to the political establishment as a scion of a prominent Zionist family. His father, Chaim Herzog, was Israel’s ambassador to the United Nations before being elected president. His uncle, Abba Eban, was Israel’s first foreign minister and ambassador to the UN and US. His grandfather was the country’s first chief rabbi.

For the past three years since resigning from parliament, Mr Herzog has served as head of the Jewish Agency, a nonprofit organisation that works closely with the government to promote immigration to Israel.

He defeated Miriam Peretz, an educator who was seen as a more conservative and nationalist candidate.

Mr Herzog will succeed President Reuven Rivlin, who is scheduled to leave office next month.

Government deadline approaches

  • Opposition leader and Chairman of Israel's Yesh Atid party Yair Lapid speaks during a weekly party meeting at the Knesset in Jerusalem. AFP
    Opposition leader and Chairman of Israel's Yesh Atid party Yair Lapid speaks during a weekly party meeting at the Knesset in Jerusalem. AFP
  • Far-right politician Naftali Bennett delivers a statement in the Knesset, the Israeli Parliament, in Jerusalem. Reuters
    Far-right politician Naftali Bennett delivers a statement in the Knesset, the Israeli Parliament, in Jerusalem. Reuters
  • Israeli Minster of Defense, Benny Gantz addressing foreign journalists working in Israel, in Jerusalem. EPA
    Israeli Minster of Defense, Benny Gantz addressing foreign journalists working in Israel, in Jerusalem. EPA
  • Secretary of State Antony Blinken and Defense Minister Benny Gantz move to take their seats before their meeting at the Ministry of Foreign Affairs, in Jerusalem, Israel. AP Photo
    Secretary of State Antony Blinken and Defense Minister Benny Gantz move to take their seats before their meeting at the Ministry of Foreign Affairs, in Jerusalem, Israel. AP Photo
  • Leader of the Yemina party, Naftali Bennett, prepares to deliver a political statement in the Knesset (the Israeli Parliament), in Jerusalem, Israel. EPA
    Leader of the Yemina party, Naftali Bennett, prepares to deliver a political statement in the Knesset (the Israeli Parliament), in Jerusalem, Israel. EPA
  • Israeli Defence Minister Benny Gantz points at targets hit by Israeli army in Gaza, during a press briefing in Jerusalem. AFP
    Israeli Defence Minister Benny Gantz points at targets hit by Israeli army in Gaza, during a press briefing in Jerusalem. AFP
  • Yair Lapid, head of the centrist Yesh Atid party, delivers a statement to the press before the party faction meeting at the Knesset, Israel's parliament, in Jerusalem. Reuters
    Yair Lapid, head of the centrist Yesh Atid party, delivers a statement to the press before the party faction meeting at the Knesset, Israel's parliament, in Jerusalem. Reuters

Also on Wednesday, Israel's opposition leader moved closer to unseating Prime Minister Benjamin Netanyahu after agreeing to terms with several parties, including one led by Defence Minister Benny Gantz, for a proposed new government, a spokesman said.

Yair Lapid, a centrist given the responsibility of forming the next governing coalition after the conservative Mr Netanyahu failed to do so after an inconclusive election on March 23, has until midnight on Wednesday to present a final slate.

Mr Lapid has yet to clinch a deal with his main partner, nationalist Naftali Bennett, who would serve as premier first under a proposed rotation between the two men.

Mr Lapid's Yesh Atid party and Mr Gantz's centrist Blue and White said they had "agreed on the outlines of the government and core issues relating to the strengthening of democracy and Israeli society".

Mr Gantz would remain defence minister in the new Cabinet, the parties said.

Deals were also reached with the left-wing Meretz and centre-left Labour parties, as well as with former defence minister Avigdor Lieberman's nationalist Yisrael Beitenu party, a Lapid spokesman said.

The United Arab List was also negotiating to join the coalition. If it does, it would be the first time in Israel's history that an independent Arab party becomes a member of the government.

Mr Netanyahu, in power for the past 12 years, has sought to discredit Mr Bennett and two other rightists negotiating with Mr Lapid, saying they were endangering Israel's security.

Keeping the door open to them, Israel's longest-serving leader said he is still capable of forming the next government.

If Mr Lapid misses Wednesday's deadline – marking the end of a 28-day presidential mandate to put together a coalition – parliament will have three weeks to agree on a new candidate.

If that fails, Israel will hold another election, its fifth in two years.

No_One Ever Really Dies

N*E*R*D

(I Am Other/Columbia)

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

Gifts exchanged
  • King Charles - replica of President Eisenhower Sword
  • Queen Camilla -  Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
  • Donald Trump - hand-bound leather book with Declaration of Independence
  • Melania Trump - personalised Anya Hindmarch handbag
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

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

SPECS
%3Cp%3EEngine%3A%20Supercharged%203.5-litre%20V6%0D%3Cbr%3EPower%3A%20400hp%0D%3Cbr%3ETorque%3A%20430Nm%0D%3Cbr%3EOn%20sale%3A%20Now%0D%3Cbr%3EPrice%3A%20From%20Dh450%2C000%0D%3Cbr%3E%3C%2Fp%3E%0A
The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

THE%20FLASH
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Andy%20Muschietti%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Sasha%20Calle%2C%20Ben%20Affleck%2C%20Ezra%20Miller%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4.0-litre%20flat%206-cylinder%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20PDK%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E500hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E450Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh530%2C300%20as%20tested%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
Abu%20Dhabi%E2%80%99s%20Racecard
%3Cp%3E%0D5pm%3A%20Al%20Bithnah%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(Turf)%201%2C200m%0D%3Cbr%3E5.30pm%3A%20Al%20Khari%20%E2%80%93%20Hanidcap%20(PA)%20Dh80%2C000%20(T)%201%2C200m%0D%3Cbr%3E6pm%3A%20Al%20Qor%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E6.30pm%3A%20Wathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(T)%201%2C600m%0D%3Cbr%3E7pm%3A%20Al%20Badiyah%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%202%2C200m%0D%3Cbr%3E7.30pm%3A%20Al%20Hayl%20%E2%80%93%20Handicap%20(TB)%20Dh80%2C000%20(T)%202%2C200m%3C%2Fp%3E%0A
ABU%20DHABI%20CARD
%3Cp%3E%3Cstrong%3E5pm%3A%20%3C%2Fstrong%3EWathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(Turf)%202%2C200m%0D%3Cbr%3E%3Cstrong%3E5.30pm%3C%2Fstrong%3E%3A%20Rub%20Al%20Khali%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(T)%201%2C400m%0D%3Cbr%3E%3Cstrong%3E6pm%3A%20%3C%2Fstrong%3EAl%20Marmoom%20Desert%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3E6.30pm%3A%20%3C%2Fstrong%3ELiwa%20Oasis%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C400m%0D%3Cbr%3E%3Cstrong%3E7pm%3A%20%3C%2Fstrong%3EAl%20Khatim%20Desert%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3E7.30pm%3A%3C%2Fstrong%3E%20Al%20Quadra%20Desert%20%E2%80%93%20Handicap%20(TB)%20Dh80%2C000%20(T)%201%2C600m%3C%2Fp%3E%0A
The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.