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Ceasefire negotiations aimed at ending the devastating war between Hezbollah and Israel have entered a critical stage, with the primary sticking point involving the interpretation of a clause on “self-defence,” sources close to the discussions told The National.
US envoy Amos Hochstein is expected to hold talks with Israeli officials on Wednesday and Thursday following a visit to Beirut, where Lebanese officials involved in the negotiations sought clarifications on four main points and expressed their willingness to reach an agreement as soon as possible.
Mr Hochstein said on Wednesday that he made "additional progress” in talks with Lebanese officials, adding that he is travelling to Israel "to try and bring this to a close if we can”.
Meanwhile in Israel, Foreign Minister Gideon Sa’ar insisted that Israel “would like to reach an agreement that will stand the test of time” in Lebanon. He told ambassadors in Jerusalem that the Israeli army must maintain "the freedom to act if there are violations," according to Israeli media.
Hours later, Hezbollah leader Naim Qassem affirmed that his party is negotiating indirectly with Israel to "stop the aggression completely and preserve the Lebanese sovereignty so that the Israeli enemy does not get the right to invade and violate as he pleases".
"The Israeli side expects to achieve through the agreement what it could not secure in war, and this is not possible," he added, emphasizing that the ball is now in Israel's court. He also stated that Hezbollah is prepared for a "war of attrition" if negotiations fail, threatening attacks on central Tel Aviv.
The ceasefire proposal suggests a 60-day truce during which Israel would withdraw its troops from southern Lebanon within seven days in a “phased manner”, coinciding with Beirut posting its troops to the border.
According to several sources in Beirut, the majority of those points can be addressed; however, the main challenge lies in clearly defining the clause regarding the actions Israel and Lebanon – implicitly including Hezbollah – may take in defence when a “threat” is identified.
“There is a key clause related to the right of both sides to self-defence,” a source involved in the negotiations informed The National.
Efforts are underway to reach a formula that satisfies both parties without implying that Israel has unrestricted freedom of movement
Lebanese source with knowledge of negotiations
“Efforts are under way to reach a formula that satisfies both parties without implying that Israel has unrestricted freedom of movement or that Lebanon will sign a clause allowing Israeli aircraft unrestricted access to Lebanese airspace,” added the source.
The draft proposal, seen by The National, gives Israel the right to violate Lebanese air space “for the purpose of intelligence, surveillance, and reconnaissance only, and will not be visible to the naked eye to the degree possible”.
“Israeli flights will not break the sound barrier to the civilian population of Lebanon,” the document said.
Officials in Lebanon firmly reject any clause that Israel could use to violate Lebanese sovereignty, including via the air, as it has done in recent years. Senior Israeli officials have demanded the right to act against Hezbollah even if a deal is agreed.
Another political source close to the talks stated that there is also “caution on the Lebanese side regarding the Israeli government's position on the agreement during Hochstein's visit to Israel”.
“This government had previously been involved in formulating what became known as the Biden Plan proposals for Gaza but later obstructed the negotiations,” the source explained, referring to a Gaza truce deal presented by the US administration of President Joe Biden.
The plan, negotiated with Israel, was ultimately blocked by Israeli Prime Minister Benjamin Netanyahu.
“For this reason, Lebanon is proceeding cautiously while trying not to appear as the obstructing party, as its primary goal is to stop the war. Lebanon is thus working toward achieving a ceasefire agreement as soon as possible,” according to the political source.
Mr Hochstein's visit to Lebanon “is important in terms of form, content, and seriousness,” added the source. However, it “cannot be stated definitively that this visit will determine the final solution”.
Positive meetings
Mr Hochstein said in Beirut on Tuesday there was a “real opportunity” to end the war between Hezbollah and Israel, and that a solution was “within our grasp”. He made the comments after meeting Nabih Berri, the Lebanese parliamentary Speaker who is close to Hezbollah and has been negotiating on its behalf. The two officials met again on Wednesday.
Lebanese analyst Ibrahim Rayhan said the meetings between Mr Berri and Mr Hochstein appeared to have been “positive”.
The meetings in Beirut were at “refining the Lebanese side's comments” and finalising details before Mr Hochstein, who mediated a landmark maritime border deal between Lebanon and Israel in 2022, began his talks with Israeli officials.
“We are, therefore, in critical hours regarding the ceasefire,” warned the analyst. “The Lebanese and American parties remain cautiously optimistic, with all sides waiting to see how the Israeli position evolves.”
On Tuesday, political sources in Beirut told The National that, in addition to the self-defence clause, Lebanese officials sought clarification from the visiting US envoy on other key points.
One of the points relates to a proposed committee, which negotiators insist should be a military body led by a US general, with expanded membership to include representatives from Britain and Germany.
“There are several concerns from the Lebanese side. Why a US general? An American diplomat could serve as an alternative,” one of the sources said.
Lebanese officials have repeatedly said they are committed to implementing UN Security Council Resolution 1701, which ended the 2006 Israel-Hezbollah war and requires all armed forces except the Lebanese army and UN peacekeepers to withdraw from the Lebanese side of the border with Israel. It also requires Israeli troops to withdraw from Lebanon – but the resolution was never fully implemented.
Another point Lebanon sought clarification over pertains to the role of the committee.
“If this committee is tasked with receiving complaints of violations and taking action, it effectively sidelines Resolution 1701 and the United Nations as the governing framework. This raises Lebanese suspicions. Lebanon prefers to retain the existing committee already in place,” the political source noted.
A ceasefire is the priority
Another concern involves the Lebanese army, which would bolster its presence in the south. “Under this proposal, the committee would issue instructions to the army, effectively bypassing the Lebanese government. This creates fears that the army could become a marginal force in the south, overshadowed by Unifil. Such a shift would mark a significant change to the framework of Resolution 1701,” the political source added.
There is growing apprehension in Lebanon that these measures could “undermine the essence and objectives” of Resolution 1701.
Israel intensified its attacks on Lebanon in late September, killing thousands and devastating much of the country. More than 3,500 people have been killed and 1.4 million displaced since conflict broke out in the border regions in October last year, in parallel with Israel's war on Gaza.
While Hezbollah's senior leadership has been virtually wiped out, the Iran-backed group continues to launch regular attacks on Israel – including hitting Tel Aviv on Monday night.
US State Department spokesman Matthew Miller said Washington was pushing for “full implementation” of UNSCR 1701. Senior Lebanese officials have said they want to put the resolution into effect, but Israel has suggested the terms are no longer tenable.
Lebanese caretaker Prime Minister Najib Mikati, who met Mr Hochstein after his talks with Mr Berri, said the country's priority was a ceasefire, but one that preserved sovereignty over Lebanese territory.
In his televised speech, Mr Qassem expressed his party's readiness to take a more active role in political life following the war, notably without referencing its military power, hinting at a possible shift in focus.
He explained that the heavily armed militant group would contribute to reconstruction efforts, support the election of a new president after years of political stalemate, and take a more active role in political life.
BELGIUM%20SQUAD
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Specs – Taycan 4S
Engine: Electric
Transmission: 2-speed auto
Power: 571bhp
Torque: 650Nm
Price: Dh431,800
Specs – Panamera
Engine: 3-litre V6 with 100kW electric motor
Transmission: 2-speed auto
Power: 455bhp
Torque: 700Nm
Price: from Dh431,800
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
The biog
DOB: March 13, 1987
Place of birth: Jeddah, Saudi Arabia but lived in Virginia in the US and raised in Lebanon
School: ACS in Lebanon
University: BSA in Graphic Design at the American University of Beirut
MSA in Design Entrepreneurship at the School of Visual Arts in New York City
Nationality: Lebanese
Status: Single
Favourite thing to do: I really enjoy cycling, I was a participant in Cycling for Gaza for the second time this year
Sholto Byrnes on Myanmar politics
COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)
Date started: August 2021
Founder: Nour Sabri
Based: Dubai, UAE
Sector: E-commerce / Marketplace
Size: Two employees
Funding stage: Seed investment
Initial investment: $200,000
Investors: Amr Manaa (director, PwC Middle East)
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
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
5 of the most-popular Airbnb locations in Dubai
Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:
• Dubai Marina
The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.
Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739
Two bedroom: Dh627 to Dh960
Three bedroom: Dh721 to Dh1,104
• Downtown
Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure. “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."
Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154
• City Walk
The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena. “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”
Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809
Two bedroom: Dh682 to Dh1,052
Three bedroom: Dh784 to Dh1,210
• Jumeirah Lake Towers
Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.
Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629
Two bedroom: Dh549 to Dh818
Three bedroom: Dh631 to Dh941
• Palm Jumeirah
Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.
Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770
Two bedroom: Dh654 to Dh1,002
Three bedroom: Dh752 to Dh1,152
The%20specs
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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.”
Scoreline
Swansea 2
Grimes 20' (pen), Celina, 29'
Man City 3
Silva 69', Nordfeldt 78' (og), Aguero 88'
OPTA'S PREDICTED TABLE
1. Liverpool 101 points
2. Manchester City 80
3. Leicester 67
4. Chelsea 63
5. Manchester United 61
6. Tottenham 58
7. Wolves 56
8. Arsenal 56
9. Sheffield United 55
10. Everton 50
11. Burnley 49
12. Crystal Palace 49
13. Newcastle 46
14. Southampton 44
15. West Ham 39
16. Brighton 37
17. Watford 36
18. Bournemouth 36
19. Aston Villa 32
20. Norwich City 29
