Live updates: Follow the latest news on Israel-Gaza
A ship sent by a Japan-based luxury cruise operator and NGO, whose vessels sail the world promoting peace, arrived in Egypt’s Port Said on Wednesday flying a banner condemning Israel’s killing of more than 10,000 Gazans.
Pacific World embarked on its latest world tour in August, its 115th such voyage, said Karen Hallows, spokeswoman for the Peace Boat NGO.
The vessel's global cruise is promoting calls for a ceasefire in Gaza, and it will dock at various ports where protests will then be staged.
The banner, which reads "Stop Killing Gaza!", was raised on November 3 while the ship was in the Greek port of Piraeus.
Measuring 30 by five metres, the flag was also on display when Pacific World sailed into Istanbul on November 5.
The banner was met with support and enthusiasm in both cities, with residents adding their voices to the call for a ceasefire in Gaza, Ms Hallows told The National.
The Pacific World will remain docked in Port Said until Thursday morning.
On Wednesday, an event was held to formalise Peace Boat’s calls for a truce, at which the head of Egypt’s Journalists’ Syndicate, Khaled El Balshy, gave a speech.
The syndicate has been prominent in Egypt calling for a ceasefire, with regular protests taking place near its headquarters in Cairo.
“We feel that as an organisation which sails with the word ‘Peace’, we have a responsibility to speak out about the horror of what is currently happening in Gaza,” a Peace Boat statement said.
The 77,000-tonne ship arrived in Egypt carrying 1,800 passengers, many of whom joined the calls for ceasefire.
Pacific World will sail on from Port Said to Sri Lankan capital Colombo, Ms Hallows said.
Peace Boat organises educational voyages for which passengers pay to sail the world while enrolling in lectures and cultural exchange programmes on board its vessels.
Launched in 1983, the organisation has docked in various Israeli ports where it conducted cultural exchanges between Palestinian and Israeli youth movements including in Haifa and Ashdod.
“In more hopeful times, Peace Boat organised programmes for Israeli and Palestinian youth to meet on board using the ship as a space for dialogue, but unfortunately it has been many years since these programmes have been able to take place,” Ms Hallows said.
The death toll in Gaza as a result of the continuing Israeli bombardment surpassed 10,500 on Wednesday, according to the enclave's Health Ministry.
Bundesliga fixtures
Saturday, May 16 (kick-offs UAE time)
Borussia Dortmund v Schalke (4.30pm)
RB Leipzig v Freiburg (4.30pm)
Hoffenheim v Hertha Berlin (4.30pm)
Fortuna Dusseldorf v Paderborn (4.30pm)
Augsburg v Wolfsburg (4.30pm)
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)
Sunday, May 17
Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)
Monday, May 18
Werder Bremen v Bayer Leverkusen (9.30pm)
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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Ain Dubai in numbers
126: The length in metres of the legs supporting the structure
1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch
16 A380 Airbuses: The equivalent weight of the wheel rim.
9,000 tonnes: The amount of steel used to construct the project.
5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place
192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.
more from Janine di Giovanni
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
