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While Arab and Muslim leaders condemned Israel’s "barbaric" actions in Gaza and demanded an end to the war, their meetings have again highlighted divided opinion over how to respond to the situation.
However, analysts say Saturday's joint summit in the Riyadh of the Arab League and the Organisation of Islamic Co-operation managed to convey significant messages and warnings to Israel, the United States and western powers.
“I think that the consensus was that this is really more about symbolism, narrative and diplomacy," Saudi analyst Aziz Alghashian, who researches his country’s foreign policy regarding Israel, told The National.
"Arab states are making their efforts confined within the realms of diplomacy and they're going to use all the aspects they have in diplomacy to try to do that."
In its final resolution passed on Saturday after three days of closed-door negotiations, 57 countries signed a final document which called for an arms embargo against Israel, the International Criminal Court to prosecute Israel on what are seen as war crimes, and the formulation of an Arab-Islamic committee to oversee further diplomatic efforts to bring about a ceasefire in Gaza.
Analysts were not surprised by the outcome, warning that the main message from the summit was that “the clock in the region is ticking backwards".
“It sends three messages," said Mohammed Baharoon, director general of the Dubai Public Policy Research Centre.
"To Israel, the window for peace and regional integration is closing fast, they risk going back in time to 1948.
"To the Americans, their role as a security provider in the region is reversing so fast that they are risking to be in the same position as France in West Africa.
"And to the West, that the proverbial international community is facing grave challenges and we could slip back to the pre-League of Nations era," said Mr Baharoon.
Calls for punitive actions
Among the numerous leaders addressing the summit, Syrian President Bashar Al Assad and Iran’s President Ebrahim Raisi, whose countries recently re-established ties with Saudi Arabia, advocated more "punitive" measures against Israel.
Iran is the main regional backer of Hamas, which has been engaged in the war since October 7 when it launched unprecedented attacks into Israel that killed about 1,400 people, mainly civilians.
Israel responded by hammering the Gaza Strip with air strikes, killing more than 11,000 people to date, including at least 4,500 children, followed by a large-scale land offensive.
Iran has warned of a broader regional confrontation, while its proxies in Lebanon, Yemen and Syria have launched attacks on Israeli and US targets.
Mr Al Assad, a staunch ally of Iran, said a lack of concrete punitive measures against Israel would render the summit ineffective.
"If we do not have real tools for pressure, then any step we take or speech we give will have no meaning," he said.
Syria was welcomed back into the Arab fold earlier this year after an extended isolation due to the country's civil war that erupted in 2011.
The country has historically served as a political hub for Hamas leadership.
Mr Al Assad said no Middle Eastern country should engage in any "political process" with Israel until a lasting ceasefire is in place.
Mr Raisi called for all countries to arm Palestinians if Israel’s attacks persist.
“Muslim countries should aid the Palestinian people by arming them” against Israel, he said.
Ghassan Ebrahim, editor-in-chief of Global Arab Network, told The National that such calls for extreme measures had been expected.
“Unfortunately, Iran and their proxies in the region are disconnected from reality," he said. "They believe that sorting escalation by use of retaliatory escalation is the only solution.
"Fortunately, a majority of Arab states don’t believe that to be the case."
Mr Raisi’s visit to Riyadh was the first time an Iranian President has set foot in Saudi Arabia since Mahmoud Ahmadinejad attended an OIC meeting in the kingdom in 2012.
An earlier draft of the final resolution seen by The National on Friday contained a clause suggesting, rather than explicitly demanding, that Arab states take economic action such as cutting off air routes for Israel, as well as possible “economic actions to deter Israel’s aggressions".
That version of the resolution was voted for by only 11 of the Arab League's 22 member states and was not ratified after four countries opposed it while the rest abstained.
“Oil cannot and will not be ever used as a political weapon," said Saudi analyst Ali Shihabi on X, formerly Twitter, responding to suggestions that energy-rich nations should contemplate leveraging the hydrocarbon sector as a means of exerting pressure.
"It is the lifeblood of oil-producing economies and has to be seen as a reliable commodity by users.
"Any attempt to do otherwise will only accelerate consumer moves away from oil,” he added.
In their speeches, strong statements from several Arab leaders decried the US and western world’s “double standards” on Israel’s actions in Gaza.
Prince Faisal bin Farhan, the Saudi Foreign Minister, said Israel was getting away with breaching international law.
Crown Prince Mohammed bin Salman told the summit: "We are facing a humanitarian catastrophe that proves the failure of the [UN] Security Council and the international community to put an end to the flagrant Israeli violations of international laws."
The final declaration on Saturday rejected Israeli claims of acting in "self-defence" and demanded the UN Security Council adopt "a decisive and binding resolution" to halt Israel's "aggression".
The UAE, represented by Sheikh Mansour bin Zayed, Vice President and Minister of the Presidential Court, said it “supports all diplomatic moves to protect civilians in Gaza and achieve the aspirations of the Palestinian people for stability and peace”.
As the Arab leaders were gathering in Riyadh, fighting intensified overnight into Saturday near Gaza city's overcrowded hospitals, where at least one baby died in an incubator after Gaza's largest hospital lost power, and a patient in intensive care was killed by Israeli shelling, the Palestinian Health Ministry said.
Shifting political narratives
Israel’s war on Gaza has also upended traditional Middle East alliances, as Riyadh has engaged more closely with Iran, pushed back against US pressure and temporarily suspended plans to establish relations with Israel.
Had there been a suspension of diplomatic ties, or reduction of relations, that would have generated more pressure on Israel and the United States
Aziz Alghashian,
Saudi analyst
The future governing of Gaza featured prominently in the discussions in Riyadh, with Palestinian President Mahmoud Abbas saying his Fatah-led Palestinian Authority would consider administering the Gaza Strip if it brought about a permanent ceasefire and an enduring, comprehensive political solution.
But leaders at the summit refrained from discussing public statements regarding potential future scenarios for Gaza until Israel halted its war operations completely.
“The only talk of a future for Gaza is an immediate ceasefire,” Prince Faisal said.
Mr Alghashian said: “Had there been a suspension of diplomatic ties, or reduction of relations, that would have generated more pressure on Israel and the United States. But that wasn't there, yet."
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
How to avoid crypto fraud
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Trump v Khan
2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US
2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
2019: Trump calls Khan a “stone cold loser” before first state visit
2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”
2022: Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency
July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.
Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”
Results
5pm: UAE Martyrs Cup (TB) Conditions Dh90,000 2,200m
Winner: Mudaarab, Jim Crowley (jockey), Erwan Charpy (trainer).
5.30pm: Wathba Stallions Cup (PA) Handicap Dh70,000 1,400m
Winner: Jawal Al Reef, Richard Mullen, Hassan Al Hammadi.
6pm: UAE Matyrs Trophy (PA) Maiden Dh80,000 1,600m
Winner: Salima Al Reef, Jesus Rosales, Abdallah Al Hammadi.
6.30pm: Sheikha Fatima bint Mubarak (IFAHR) Apprentice Championship (PA) Prestige Dh100,000 1,600m
Winner: Bainoona, Ricardo Iacopini, Eric Lemartinel.
7pm: Sheikha Fatima bint Mubarak (IFAHR) Ladies World Championship (PA) Prestige Dh125,000 1,600m
Winner: Assyad, Victoria Larsen, Eric Lemartinel.
8pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Group 1 Dh5,000,000 1,600m
Winner: Mashhur Al Khalediah, Jean-Bernard Eyquem, Phillip Collington.
The finalists
Player of the Century, 2001-2020: Cristiano Ronaldo (Juventus), Lionel Messi (Barcelona), Mohamed Salah (Liverpool), Ronaldinho
Coach of the Century, 2001-2020: Pep Guardiola (Manchester City), Jose Mourinho (Tottenham Hotspur), Zinedine Zidane (Real Madrid), Sir Alex Ferguson
Club of the Century, 2001-2020: Al Ahly (Egypt), Bayern Munich (Germany), Barcelona (Spain), Real Madrid (Spain)
Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)
Club of the Year: Bayern Munich, Liverpool, Real Madrid
Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)
Agent of the Century, 2001-2020: Giovanni Branchini, Jorge Mendes, Mino Raiola
Manchester United v Club America
When: Thursday, 9pm Arizona time (Friday UAE, 8am)
Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
If you go
The flights
The closest international airport for those travelling from the UAE is Denver, Colorado. British Airways (www.ba.com) flies from the UAE via London from Dh3,700 return, including taxes. From there, transfers can be arranged to the ranch or it’s a seven-hour drive. Alternatively, take an internal flight to the counties of Cody, Casper, or Billings
The stay
Red Reflet offers a series of packages, with prices varying depending on season. All meals and activities are included, with prices starting from US$2,218 (Dh7,150) per person for a minimum stay of three nights, including taxes. For more information, visit red-reflet-ranch.net.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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
