• A merchant of "janbiyas", Yemeni short curved daggers, displays his merchandise in Yemen's capital Sanaa on May 20, 2020, as Muslims shop ahead of the Eid Al Fitr holiday amidst a coronavirus outbreak. AFP
    A merchant of "janbiyas", Yemeni short curved daggers, displays his merchandise in Yemen's capital Sanaa on May 20, 2020, as Muslims shop ahead of the Eid Al Fitr holiday amidst a coronavirus outbreak. AFP
  • A child wearing a protective face mask as she walks through a market in Sanaa, Yemen on May 20, 2020. EPA
    A child wearing a protective face mask as she walks through a market in Sanaa, Yemen on May 20, 2020. EPA
  • A man wears a protective face mask outside a shop amid concerns over the spread of the coronavirus, in Sanaa, Yemen on May 13, 2020. Reuters
    A man wears a protective face mask outside a shop amid concerns over the spread of the coronavirus, in Sanaa, Yemen on May 13, 2020. Reuters
  • A hairdresser wearing a protective suit gives a customer a haircut at a barber shop ahead of Eid Al Fitr, in Sanaa, Yemen, May 18, 2020. EPA
    A hairdresser wearing a protective suit gives a customer a haircut at a barber shop ahead of Eid Al Fitr, in Sanaa, Yemen, May 18, 2020. EPA
  • A vendor wearing a protective face mask waits for customers ahead Eid Al Fitr, in Sanaa, Yemen, May 20, 2020. EPA
    A vendor wearing a protective face mask waits for customers ahead Eid Al Fitr, in Sanaa, Yemen, May 20, 2020. EPA
  • A customer wearing protective gloves buys sterilizing gel through a plastic shield installed as a precautionary measure against the spread of the coronavirus at a pharmacy in Sanaa, Yemen, on May 19, 2020. EPA
    A customer wearing protective gloves buys sterilizing gel through a plastic shield installed as a precautionary measure against the spread of the coronavirus at a pharmacy in Sanaa, Yemen, on May 19, 2020. EPA
  • A pharmacist wearing a protective face mask serves his customers behind a plastic shield installed as a precautionary measure against the spread of the coronavirus in Sanaa, Yemen, on May 19, 2020. EPA
    A pharmacist wearing a protective face mask serves his customers behind a plastic shield installed as a precautionary measure against the spread of the coronavirus in Sanaa, Yemen, on May 19, 2020. EPA
  • Yemenis shop for the Muslim festival of Eid Al Fitr, at a market in Sanaa, Yemen, on May 20, 2020. EPA
    Yemenis shop for the Muslim festival of Eid Al Fitr, at a market in Sanaa, Yemen, on May 20, 2020. EPA

UK government denounced after slashing aid to Yemen


Jamie Prentis
  • English
  • Arabic

The British government was rebuked after confirming it would significantly reduce aid given to Yemen in 2021, despite the threat of famine and death to millions of people there.

Middle East Minister James Cleverly told an online donor conference that the UK would give at least £87m ($121.2m) over the next financial year, compared to the £160m it pledged at the same summit last year and £214m across 2020.

Former foreign secretary Jeremy Hunt, who visited Aden in 2019, said he was “deeply disappointed by the decision”.

“Timing is inexplicable, with the UN warning only last week that Yemen faces the worst famine the world has seen for decades,” he said.

The UN told the conference attended by more than 100 governments and donors that it is seeking $3.85 billion to prevent famine in Yemen.

Saudi Arabia said it would give $430m, the UAE $230m and the US $191m.

Germany offered $241m, compared to $138m last year.

Aid groups warned of catastrophe if cuts to funding continued. Six million people in Yemen – half of them children – are without access to clean water or sanitation during the coronavirus pandemic.

The UK took its decision after its former international development secretary said about four million Yemenis will "continue the slow, agonising and obscene process of starving to death" should aid be cut.

Andrew Mitchell said that reducing support to Yemen would be the "harbinger of cuts to come in the future" that could lead to hundreds of thousands of avoidable deaths around the world.

He was referring in part to Britain’s decision last year to reduce its total spending on aid from 0.7 per cent of its gross national income to 0.5 per cent.

Mr Hunt said the UK’s move to cut financial support for Yemen felt like “an inevitable consequence” of that decision.

“It is unlikely to be noticed with so much else going on but will cost lives and discourage other countries from playing their part.

“But abandoning a forgotten country and people is inconsistent with our values, weakens our moral authority and reduces our influence.

“We should be increasing the scale of our support in the face of such suffering; to cut it at this moment of extreme peril is incomprehensible,” Mr Hunt said.

Before the Yemen conference, Mr Mitchell said reports of the cuts were particularly troubling because the UK was president of the UN Security Council in February.

“It’s a very serious matter indeed in terms of what is the biggest humanitarian crisis in the world at the moment, but also in an area where Britain has in the past shown very considerable leadership and achieved extraordinary results,” he told the BBC.

Mr Mitchell said it was important that other countries increased their aid contributions to Yemen, but that it would set a bad example if the UK reduced its input.

He said the UK was involved in the situation in Yemen because it was part of the Saudi-led coalition in the country.

“We cannot wash our hands of what is going on the ground there, the humanitarian catastrophe," he said.

UAE currency: the story behind the money in your pockets
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Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
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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

ICC T20 Rankings

1. India - 270 ranking points

 

2. England - 265 points

 

3. Pakistan - 261 points

 

4. South Africa - 253 points

 

5. Australia - 251 points 

 

6. New Zealand - 250 points

 

7. West Indies - 240 points

 

8. Bangladesh - 233 points

 

9. Sri Lanka - 230 points

 

10. Afghanistan - 226 points

 
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  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
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  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
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  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
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Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

If you go

The Flights

Emirates and Etihad fly direct to Johannesburg from Dubai and Abu Dhabi respectively. Economy return tickets cost from Dh2,650, including taxes.

The trip

Worldwide Motorhoming Holidays (worldwidemotorhomingholidays.co.uk) operates fly-drive motorhome holidays in eight destinations, including South Africa. Its 14-day Kruger and the Battlefields itinerary starts from Dh17,500, including campgrounds, excursions, unit hire and flights. Bobo Campers has a range of RVs for hire, including the 4-berth Discoverer 4 from Dh600 per day.

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Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

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