Live updates: Follow the latest news on Israel-Gaza
The red lines crossed by Israel in assassinating Hezbollah commander Fouad Shukr and Hamas leader Ismail Haniyeh will usher in a “new phase” of the multifront conflict that will make Israel “weep", Hezbollah leader Hassan Nasrallah said on Thursday.
"You don’t know what red lines you have crossed,” Mr Nasrallah said in a speech broadcast after Mr Shukr's funeral in Beirut.
"The enemy must await the rage and revenge of the honourable people of this nation."
Mr Shukr and an Iranian military associate were killed in an Israeli strike on a densely populated neighbourhood in Beirut's southern suburb of Dahieh on Tuesday night. Three women and two children also died, and dozens were injured.
Hours later, Hamas leader Ismail Haniyeh was killed in an explosion at his residence in Tehran after attending the inauguration of Iran's new President Masoud Pezeshkian.
Israel acknowledged carrying out the drone strike that killed Mr Shukr but not the attack that killed Mr Haniyeh. The means by which the Hamas leader was killed has yet to be established, with some reports suggesting it was a missile strike and others that it was a bomb planted at his residence and detonated remotely.
Mr Nasrallah said the assassination of Mr Haniyeh was an assault on Iran’s “sovereignty, national security, prestige – and especially on their honour".
“The Israelis and people of the West do not know what honour means in the East," he said. "To Iran, the martyr-leader Haniyeh was a guest in [their] home, and you [Israel] have killed their guest.”
The assassinations intensified western calls for de-escalation.
"They want us to mitigate our retaliation," Mr Nasrallah said. "They try to minimise the aggression that took place on us: the people of southern Beirut and on the resistance."
Thousands of people waving Hezbollah, Palestinian and Iranian flags gathered in Dahieh for Mr Shukr's funeral.
A young man who declined to give his name said he had expected Mr Nasrallah to say what he did.
"We knew there would be a response, we knew that targeting Dahieh and children was a red line," he said.
As for the nature and timing of the retaliation, he said Mr Nasrallah always took "measured decisions". He added that "even if this starts a war, we will be ready".
Jana, a young woman in the crowd, told The National: "The killing of our commanders doesn't make us weaker, on the contrary, it makes us stronger."
She said she was not afraid of a war. "We will stay here in our land, even if Israel destroys everything."
The Lebanese capital had been on tenterhooks for days, awaiting Israeli retaliation for a rocket attack on the town of Majdal Shams in the Israeli-occupied Golan Heights that killed a dozen children. Israel and the US blamed the attack on Hezbollah, which denied any involvement.
Israel said Mr Shukr orchestrated the attack, but Mr Nasrallah again denied Hezbollah was involved, instead accusing Israel of firing an interceptor missile that landed in the town.
"If we bomb a village we have the courage to take responsibility, even if it was a mistake. We would have admitted to it, just as we have done in the past," he said.
"The enemy's accusations against us are intentional and aim to cause strife."
The UK’s Foreign Secretary David Lammy and Defence Secretary John Healey arrived in Beirut on Thursday in a bid to calm tensions. They met caretaker Prime Minister Najib Mikati, parliament speaker Nabih Berri and caretaker Foreign Minister Abdallah Bou Habib.
"Israel has violated Lebanese sovereignty, assaulted our land in violation of international laws, and assaults civilians in a blatant manner daily," Mr Mikati told the delegation.
He said the solution to the crisis was implementing international resolutions, including UNSC Resolution 1701, which brought an end to the month-long war Israel and Hezbollah fought in 2006.
That resolution has never been fully implemented.
The two ministers visited Qatar on Wednesday, which has been a key mediator between Hamas and Israel.
Mr Lammy told the British parliament on Tuesday that the risk of a full-scale conflict was rising. He urged British citizens to leave Lebanon.
It came as Israel’s ambulance service concluded a massive three-day drill on Wednesday simulating a mass casualty event in the event of a war in the north of the country, as tensions spiral with Hezbollah
The drill included scenarios simulating electricity and communications being lost, mass casualties after rocket strikes and urgent blood donations. They also involved the use of satellite technology, specialist vehicles and call centres that are able to operate in the event of severe logistical challenges.
Israel’s military has been conducting drills in the north ever since hostilities began with Hezbollah on October 8, but ones by health authorities are rarer.
The Magen David Adom ambulance service’s simulation came in the aftermath of a rocket strike in the occupied Golan Heights that killed 12 children on a football field.
Crushing blows
As Hezbollah confirmed the death of the top military commander, Israeli Prime Minister Benjamin Netanyahu said on Wednesday night his army has dealt “crushing blows” against Hamas, Hezbollah and Yemen's Houthis in recent days, as he praised the Israeli strike that killed Mr Shukr.
He described the commander as the “deputy” of Mr Nasrallah and accused him of being in charge of the attack on Majdal Shams as well as numerous other attacks on Israel.
However, he did not directly mention the assassination of Hamas leader Ismail Haniyeh. Israel is widely suspected of carrying out the attack but has not officially claimed it.
The nearly 10-month conflict between Israel and Hezbollah is widely thought to be on the brink of a surge in violence which experts warn could cause devastation in both countries, particularly Lebanon, which has been in the grip of a sustained economic crisis.
The regional escalation began on October 7 with a surprise Hamas attack on southern Israel, killing about 1,200 people, mostly civilians. Israel’s retaliation has devastated Gaza, killing more than 39,400 people, also mostly civilians.
Israel-Hezbollah violence has already killed more than 500 people in Lebanon, about 100 civilians and the rest fighters. Nearly 50 civilians and soldiers have been killed on the Israeli side.
An Israeli strike killed four people – a Syrian woman and her three children – in the southern town of Shaams on Thursday, Lebanon's Ministry of Health said. It was the first Israeli attack on the town since the near-daily cross-border attacks with warplanes, drones, rockets and artillery began.
Israel and Hezbollah last fought a major conflict in 2006, a 34-day war that devastated parts of Beirut, killing about 1,200 people in Lebanon, mostly civilians, and about 160 in Israel, mostly soldiers.
Analysts say both sides are now vastly more equipped in terms of firepower, with Hezbollah thought to possess up to 150,000 rockets and missiles, 10 times its arsenal in 2006. Israel has expanded its air force, in part shown by devastating attacks on Gaza, leaving most of the enclave with a population of 2.3 million in ruins.
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Voices: How A Great Singer Can Change Your Life
Nick Coleman
Jonathan Cape
THE SPECS
Engine: Four-cylinder 2.5-litre
Transmission: Seven-speed auto
Power: 165hp
Torque: 241Nm
Price: Dh99,900 to Dh134,000
On sale: now
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
Need to know
Unlike other mobile wallets and payment apps, a unique feature of eWallet is that there is no need to have a bank account, credit or debit card to do digital payments.
Customers only need a valid Emirates ID and a working UAE mobile number to register for eWallet account.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX
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Omar Yabroudi's factfile
Born: October 20, 1989, Sharjah
Education: Bachelor of Science and Football, Liverpool John Moores University
2010: Accrington Stanley FC, internship
2010-2012: Crystal Palace, performance analyst with U-18 academy
2012-2015: Barnet FC, first-team performance analyst/head of recruitment
2015-2017: Nottingham Forest, head of recruitment
2018-present: Crystal Palace, player recruitment manager
Essentials
The flights
Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
The tours
Superb ape-watching tours that take in all three gorilla countries mentioned above are run by Natural World Safaris. In September, the company will be operating a unique Ugandan ape safari guided by well-known primatologist Ben Garrod.
In the Democratic Republic of Congo, local operator Kivu Travel can organise pretty much any kind of safari throughout the Virunga National Park and elsewhere in eastern Congo.
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
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
The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
First Person
Richard Flanagan
Chatto & Windus
RESULTS
Bantamweight: Jalal Al Daaja (JOR) beat Hamza Bougamza (MAR)
Catchweight 67kg: Mohamed El Mesbahi (MAR) beat Fouad Mesdari (ALG)
Lightweight: Abdullah Mohammed Ali (UAE) beat Abdelhak Amhidra (MAR)
Catchweight 73kg: Mosatafa Ibrahim Radi (PAL) beat Yazid Chouchane (ALG)
Middleweight: Yousri Belgaroui (TUN) beat Badreddine Diani (MAR)
Catchweight 78KG: Rashed Dawood (UAE) beat Adnan Bushashy (ALG)
Middleweight: Sallah-Eddine Dekhissi (MAR) beat Abdel Enam (EGY)
Catchweight 65kg: Yanis Ghemmouri (ALG) beat Rachid Hazoume (MAR)
Lightweight: Mohammed Yahya (UAE) beat Azouz Anwar (EGY)
Catchweight 79kg: Souhil Tahiri (ALG) beat Omar Hussein (PAL)
Middleweight: Tarek Suleiman (SYR) beat Laid Zerhouni (ALG)
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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.”
The Word for Woman is Wilderness
Abi Andrews, Serpent’s Tail
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5