Leaders from the Middle East and beyond pledged on Tuesday to support Iraq's "stability" and called for Baghdad to distance itself from foreign influence, at a summit aimed at helping resolve regional crises.
Iraq has been caught for years in a delicate balancing act between its two main allies, the United States and Iran, and Baghdad only recently arrived at a fragile compromise government after a year of political stalemate.
The second session of the Baghdad Conference for Co-operation and Partnership in Jordan, which also included officials from France and the European Union, followed an August 2021 summit in Iraq's capital, organised at the initiative of French President Emmanuel Macron.
Summit participants said they would continue to "co-operate with Iraq to support its stability, sovereignty and the democratic process in the country", a final statement read.
They also vowed to support "Iraq's efforts to establish dialogue as a way of resolving regional crises".
Addressing the opening session on Tuesday, Mr Macron said Iraq is used as a battleground for its neighbours and their foes. He also pledged Paris's firm support for Iraq and other Middle East allies.
The one-day summit at a Dead Sea resort brought together leaders and senior officials from countries including the UAE — represented by Sheikh Saud bin Saqr Al Qasimi, ruler of Ras Al Khaimah — France, Saudi Arabia, Iran, Turkey, Egypt, Qatar, Kuwait and Oman.
They were primarily gathered to help Iraq in its efforts to stabilise and rebuild. Security in the region was also reviewed.
Iraq has been badly shaken for decades, first by its ruinous 1980-1988 war with Iran, then by more than a decade of UN sanctions following its 1990 invasion of Kuwait and its subsequent defeat by an international coalition.
The 2003 US-led invasion led to years of violence and sectarian strife, including the creation of extremist groups such as ISIS, and the growing power of Iranian-backed political factions and militias.
More recently, the country has suffered political gridlock, with the main dividing line running between Iran's allies and opponents.
“Iraq today is the scene of [foreign] influences, incursions, destabilisation that are linked to the entire region,” Mr Macron told the conference, which he co-chaired with Jordan's King Abdullah II.
France, he added, was keen on the stability of the region, which he said was struggling with “deadlock, divisions, foreign meddling and security issues.” France's interest, he explained, was to promote peace and security in the broader Mediterranean basin.
“Iraq probably is, given the past decades, one of the main victims of regional destabilisation,” Mr Macron said. “We need to be able to ... overcome the divisions of the moment.”
“I believe that what has been happening since last February 24 lends growing significance to the security and stability agenda that we first adopted in August last year,” he said, referring to Russia's invasion of Ukraine.
“We were by your side a year ago, today and next year,” he said.
The Jordanian monarch said the meeting “takes place at a time when the region is facing security and political crises,” along with threats to food, water, health and energy security and the impact of climate change.
Significantly, conference participants included the foreign ministers of Saudi Arabia and Iran, regional rivals who severed ties in 2016. There was no word on whether Hossein Amirabdollahian and Prince Faisal bin Farhan met on the sidelines.
Mr Amirabdollahian said Iran’s "policy is to avoid war and work to restore security and stability."
He also asserted Iran’s willingness to return to an international agreement on its nuclear programme “provided that red lines are not crossed.”
Saudi Foreign Minister Prince Faisal Bin Farhan said the kingdom “affirms its total rejection of any aggression on the territory of Iraq,” an apparent swipe at Iran, which has recently launched airstrikes against Kurdish Iranian dissident groups in northern Iraq.
Iraq has hosted five meetings between Saudi Arabian and Iranian officials since last year, the last of which was in April, but these contacts have not yielded any breakthrough in relations.
Egyptian President Abdel Fattah El Sisi said Cairo rejected “foreign intervention” in Iraq's domestic affairs, a likely reference to Iran and Turkey, which have launched military operations within Iraq despite Baghdad's protests.
For Mohammed Shia Al Sudani, the Iraqi Prime Minister, attending Tuesday's conference was his first participation in a major international meeting. He is widely considered to be closer to Iran than his predecessor, Mustafa Al Kadhimi.
This is the second time the conference has been held, with the first in Baghdad in August last year. The gathering was originally designed to exclusively support Iraq's sovereignty and stability but has evolved to include more stakeholders and expand its brief to include regional security.
Good opportunity
Mr Amirabdollahian and EU foreign policy chief Josep Borrell met before the start of the Jordan conference. They were joined by Iran's senior nuclear negotiator, Ali Bagheri Kani, and his EU counterpart, Enrique Mora, Iran's official news agency Irna said.
Talks to restore Iran's 2015 nuclear accord have been at a stalemate since September. Western powers accuse Iran of raising unreasonable demands after all sides appeared to be nearing a deal.
Comments made after the meeting laid bare the tense nature of relations between Tehran and the EU.
Mr Borrell said he had told the Iranian minister that Tehran should immediately halt military support for Russia and internal repression.
However, he said the meeting was necessary “amid deteriorating Iran-EU relations”. The EU would continue to work with Iran although there was currently no sign of a return to talks, he said.
Mr Amirabdollahian also voiced his condemnation of what he called the West's support of protests in Iran and the “illegal” sanctions against his country.
Mr Borrell, who has been mediating talks aimed at reviving Iran's nuclear deal with world powers, also held a meeting with Jordan's Foreign Minister Ayman Safadi on Monday.
“We discussed ways to work together to support Iraq's sovereignty, security and stability,” he said on Twitter. “We also touched upon a variety of other regional issues, focusing on the Middle East Peace Process, as well as upon EU-Jordan relations and the continuing Jordanian reform process.”
Also on Monday, Mr Amirabdollahian said the summit would provide a “good opportunity” for negotiations aimed at restoring the nuclear accord.
On-off talks to revive the deal, formally known as the Joint Comprehensive Plan of Action, started in April between Iran on one side and Britain, China, France, Germany and Russia, and indirectly with the US, on the other.
But the indirect talks between Washington and Tehran, mediated by the EU, stalled, with Iran awash with protests over the death in police custody of Mahsa Amini, a 22-year-old Iranian of Kurdish origin, on September 16.
“Jordan is a good opportunity for us to complete these discussions,” Mr Amirabdollahian told reporters in Tehran.
“I hope that … we will see a change of approach and the American side will behave realistically.
“I say clearly to the Americans; that they must choose between hypocrisy, and the request to reach an agreement and the United States' return to the JCPOA.”
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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
Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
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UAE currency: the story behind the money in your pockets
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
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
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Dubai World Cup draw
1. Gunnevera
2. Capezzano
3. North America
4. Audible
5. Seeking The Soul
6. Pavel
7. Gronkowski
8. Axelrod
9. New Trails
10. Yoshida
11. K T Brave
12. Thunder Snow
13. Dolkong
Sreesanth's India bowling career
Tests 27, Wickets 87, Average 37.59, Best 5-40
ODIs 53, Wickets 75, Average 33.44, Best 6-55
T20Is 10, Wickets 7, Average 41.14, Best 2-12
More on Yemen's civil war
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Monster Hunter: World
Capcom
PlayStation 4, Xbox One
Low turnout
Two months before the first round on April 10, the appetite of voters for the election is low.
Mathieu Gallard, account manager with Ipsos, which conducted the most recent poll, said current forecasts suggested only two-thirds were "very likely" to vote in the first round, compared with a 78 per cent turnout in the 2017 presidential elections.
"It depends on how interesting the campaign is on their main concerns," he told The National. "Just now, it's hard to say who, between Macron and the candidates of the right, would be most affected by a low turnout."
Winners
Best Men's Player of the Year: Kylian Mbappe (PSG)
Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)
TikTok Fans’ Player of the Year: Robert Lewandowski
Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)
Best Women's Player of the Year: Alexia Putellas (Barcelona)
Best Men's Club of the Year: Chelsea
Best Women's Club of the Year: Barcelona
Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)
Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)
Best Coach of the Year: Roberto Mancini (Italy)
Best National Team of the Year: Italy
Best Agent of the Year: Federico Pastorello
Best Sporting Director of the Year: Txiki Begiristain (Manchester City)
Player Career Award: Ronaldinho