Israel's Shimon Peres signs the Oslo Accords in 1993, watched by US president Bill Clinton and Palestinian leader Yasser Arafat. AFP
Israel's Shimon Peres signs the Oslo Accords in 1993, watched by US president Bill Clinton and Palestinian leader Yasser Arafat. AFP
Israel's Shimon Peres signs the Oslo Accords in 1993, watched by US president Bill Clinton and Palestinian leader Yasser Arafat. AFP
Israel's Shimon Peres signs the Oslo Accords in 1993, watched by US president Bill Clinton and Palestinian leader Yasser Arafat. AFP

Norway: Oslo Accords are no bar to Gaza war crimes trial


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Norway has said a Middle East peace deal it brokered in 1993 is no barrier to a Gaza war crimes trial, as pro-Israeli lawyers try to use it to derail the case.

The Oslo Accords are "not relevant" to whether the International Criminal Court can hear a case against Israeli and Hamas leaders, lawyers for Norway told the court.

Judges will hear a counter-argument that the accords give Israel "sole criminal jurisdiction" over its citizens in Palestine.

More than 60 states and lobbyists are presenting a legal view to the court as it considers arrest warrants sought by prosecutor Karim Khan.

Norway's 10-page submission telling the court it "should exercise its jurisdiction over Palestine" is the first by a country to be made public.

It comes as a senior US senator told The National that claims of war crimes should be left to Israel's judiciary, amid a backlash from Washington against the ICC.

"We have a democratic country, [we should] allow their system to move first," said Democrat Ben Cardin, chairman of the Senate's foreign relations committee.

The 10-month conflict in Gaza has led to allegations of war crimes against Israel and Hamas leaders. AFP
The 10-month conflict in Gaza has led to allegations of war crimes against Israel and Hamas leaders. AFP

Mr Khan accuses Israel's Prime Minister Benjamin Netanyahu and Defence Minister Yoav Gallant of using starvation as a means of war in Gaza.

He also sought arrest warrants against three Hamas commanders – two of whom have since died – over the October 7 attack on Israel.

While Israel is not an ICC member, Mr Khan's argument is that the case against Israeli leaders is about the situation in Palestine, which is a member.

Oslo argument

A key argument from the pro-Israel camp is that if Palestinians cannot prosecute Israelis under the Oslo Accords, the ICC cannot do so in their name.

Signed in 1993 after secret talks in Norway, the agreement was meant to be the first step in a peace process that ultimately lost its way.

A 1995 deal known as Oslo II paved the way for Palestinian self-government but Israel retained "sole criminal jurisdiction" over its citizens.

However, Norway says nothing in the ICC's founding text (the Rome Statute) suggests that "agreements such as the Oslo Accords are of any relevance".

"Since Palestine has acceded to the Rome Statute, the Court should exercise its jurisdiction over Palestine according to the Statute," it says.

Israeli Prime Minister Benjamin Netanyahu is accused by the ICC chief prosecutor of using starvation as a military tactic in Gaza. EPA
Israeli Prime Minister Benjamin Netanyahu is accused by the ICC chief prosecutor of using starvation as a military tactic in Gaza. EPA

Norway's argument, signed by legal director Monica Furnes, says even if the accords are relevant, they "cannot be interpreted" as ruling out the ICC.

The accords "were meant to be temporary" and Palestinian officials did not agree to permanently waive their rights, it says.

"Any restrictions on the exercise of aspects of its jurisdiction are no more than that: an undertaking, within the context of the Oslo Accords, not to exercise aspects of its jurisdiction vis-a-vis Israel.

"But none of those sovereign rights have thereby been abandoned by Palestine; they can therefore be conferred by Palestine on the Court."

Norway is one of several European countries, along with Ireland, Spain and Slovenia, which have recently recognised Palestinian statehood.

ICC prosecutor Karim Khan sought arrest warrants against two Israeli and three Hamas leaders in May. Reuters
ICC prosecutor Karim Khan sought arrest warrants against two Israeli and three Hamas leaders in May. Reuters

US debate

Submissions from the US and Germany, who are expected to take a pro-Israeli position, have yet to be made public.

Republican US senator Lindsey Graham is submitting his own pro-Israeli views, amid a split in Congress over how strongly to push back against the ICC.

“I want to read [Mr Graham’s] brief but I would think that I will be in agreement with what he's trying to do,” Mr Cardin said.

He said that "Israel's not a member of the ICC, so I agree with the content".

In May, US Secretary of State Antony Blinken told Mr Graham at a committee hearing that he would “welcome working with” the senator on developing sanctions against the ICC. “I want to take actions, not just [use] words,” Mr Graham told Mr Blinken.

US Senator Ben Cardin, centre, applauds during an address by Benjamin Netanyahu, right, to Congress last month. Bloomberg
US Senator Ben Cardin, centre, applauds during an address by Benjamin Netanyahu, right, to Congress last month. Bloomberg

Jim Risch, the top-ranking Republican on the committee, says he is holding up diplomatic appointments over Mr Cardin's refusal to bring proposed sanctions on the ICC before the Senate.

Mr Cardin denied the ICC was the source of the dispute. He said the characterisation was "just not accurate" and appeared frustrated with the hold-up on vacant ambassador's posts. Celeste Kmiotek, a lawyer for the Strategic Litigation Project at the Atlantic Council, told The National that US sanctions on the ICC "would send the message that powerful states can work to block geopolitically unfavourable investigations”.

“If the US efforts ultimately prevent arrest warrants, it will not only exacerbate the hurdles the ICC already faces in terms of resources and jurisdictional limitations that prevent it from holding certain states accountable, but will also lend additional credence to the claims of double standards,” she said.

Israel's offensive in Gaza is also being studied over genocide claims by the International Court of Justice, a separate body to the ICC.

Pro-Palestinian lawyers cite a recent ICJ ruling that declared Israel's occupation illegal as another sign the Oslo Accords can be trumped by the laws of war.

An argument advanced by other lawyers is that the accords are moot since Israel has effectively turned its back on them.

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Series info

Test series schedule 1st Test, Abu Dhabi: Sri Lanka won by 21 runs; 2nd Test, Dubai: Play starts at 2pm, Friday-Tuesday

ODI series schedule 1st ODI, Dubai: October 13; 2nd ODI, Abu Dhabi: October 16; 3rd ODI, Abu Dhabi: October 18; 4th ODI, Sharjah: October 20; 5th ODI, Sharjah: October 23

T20 series schedule 1st T20, Abu Dhabi: October 26; 2nd T20, Abu Dhabi: October 27; 3rd T20, Lahore: October 29

Tickets Available at www.q-tickets.com

Stat Fourteen Fourteen of the past 15 Test matches in the UAE have been decided on the final day. Both of the previous two Tests at Dubai International Stadium have been settled in the last session. Pakistan won with less than an hour to go against West Indies last year. Against England in 2015, there were just three balls left.

Key battle - Azhar Ali v Rangana Herath Herath may not quite be as flash as Muttiah Muralitharan, his former spin-twin who ended his career by taking his 800th wicket with his final delivery in Tests. He still has a decent sense of an ending, though. He won the Abu Dhabi match for his side with 11 wickets, the last of which was his 400th in Tests. It was not the first time he has owned Pakistan, either. A quarter of all his Test victims have been Pakistani. If Pakistan are going to avoid a first ever series defeat in the UAE, Azhar, their senior batsman, needs to stand up and show the way to blunt Herath.

England's Ashes squad

Joe Root (captain), Moeen Ali, Jimmy Anderson, Jofra Archer, Jonny Bairstow, Stuart Broad, Rory Burns, Jos Buttler, Sam Curran, Joe Denly, Jason Roy, Ben Stokes, Olly Stone, Chris Woakes. 

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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.”

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Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara

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Rating: 1/5

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UAE currency: the story behind the money in your pockets
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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Updated: August 06, 2024, 4:26 PM