Live updates: Follow the latest on Israel-Gaza
Iranian Foreign Minister Abbas Araghchi is set to visit Saudi Arabia and other countries in the region from Tuesday to discuss regional developments and efforts to stop Israel's “crimes” in Lebanon and Gaza.
The trip comes as Tehran braces for Israeli retaliation after the barrage of ballistic missiles Iran fired at the country last week. The attack, which involved between 180 and 200 missiles, appeared to have done little damage to Israeli infrastructure. Israel said several airbases were damaged, but military operations were not affected.
“My trip to Saudi Arabia and some countries in the region will begin this afternoon,” Iran's semi-official Isna news agency quoted Mr Araghchi as saying, without identifying the other destinations. “The purpose of this trip is to consult on regional developments and to try to stop the crimes of the Zionist regime in Lebanon and Gaza."
He said "the Islamic Republic of Iran does not seek to increase tension and war, although we are not afraid of war". But earlier on Tuesday he issued a warning over Israeli retaliation, saying “any attack on Iran's infrastructure facilities will be met with a strong response”, state news agency Irna reported.
Iranian President Masoud Pezeshkian this week met Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan in Doha to discuss regional developments. Saudi Arabia was searching for ways to prevent a major escalation in the Middle East that could spiral out of control, said sources briefed on diplomatic efforts to defuse tension in the region.
Iran has warned that if any of Israel's “supporters” intervened, their assets in the region would be attacked.
Uncertain response
Israel's response to the missile barrage is unpredictable, but observers suggest the possible targets include Iranian oil facilities, which could lead to market disruptions. Tehran and Riyadh warmed ties in a rapprochement brokered by China in March 2023, and despite easing regional tension, their relationship remains cautious.
In September, Mr Araghchi described Saudi Arabia as a country that has a “special place” in its policies with neighbouring countries. The minister met his Saudi counterpart on the sidelines of the UN General Assembly last month. Mr Araghchi has since held high-level meetings in Lebanon and Syria.
Irann-backed allies Hamas and Hezbollah have suffered significant losses in Israeli attacks since the war in Gaza broke out a year ago, compounded by the recent escalation in strikes and the ground invasion of Lebanon. Both groups have lost their leaders – Ismail Haniyeh and Hassan Nasrallah, respectivaly – as well as other senior figures.
Hezbollah's daily exchange of cross-border fire with Israel has inched closer to a full-fledged war over the past two weeks, with Israel carrying out a ground invasion in Lebanon, and significantly stepping up air strikes, mostly in southern Lebanon, the group's stronghold, and the eastern Bekaa Valley.
Mr Araghchi also said on Tuesday that Iran has proposed a meeting between the Arab League and the Organisation of Islamic Co-operation to discuss Gaza and Lebanon. “Positive opinions have been announced so far by the member countries and consultations are continuing in this regard,” he added.
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
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The UAE squad for the Asian Indoor and Martial Arts Games
The jiu-jitsu men’s team: Faisal Al Ketbi, Zayed Al Kaabi, Yahia Al Hammadi, Taleb Al Kirbi, Obaid Al Nuaimi, Omar Al Fadhli, Zayed Al Mansoori, Saeed Al Mazroui, Ibrahim Al Hosani, Mohammed Al Qubaisi, Salem Al Suwaidi, Khalfan Belhol, Saood Al Hammadi.
Women’s team: Mouza Al Shamsi, Wadeema Al Yafei, Reem Al Hashmi, Mahra Al Hanaei, Bashayer Al Matrooshi, Hessa Thani, Salwa Al Ali.
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
The five pillars of Islam
The specs
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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
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Skoda Superb Specs
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If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).