Live updates: Follow the latest on Israel-Gaza
Israel's Prime Minister Benjamin Netanyahu and former defence minister Yoav Gallant will formally face prosecution at the International Criminal Court after arrest warrants were issued against them on Thursday on charges of overseeing attacks on the civilian population of Gaza.
Hamas commander Mohammed Deif, named as Mohammed Diab Ibrahim Al Masri in the warrants, is also sought by the court, even as uncertainty exists over his fate in the conflict.
Mr Netanyahu and other Israeli leaders have condemned ICC chief prosecutor Karim Khan’s request for warrants as disgraceful and anti-Semitic.
US President Joe Biden called the arrest warrants "outrageous" and said there was "no equivalence — none" between Israel and Hamas.
The US “fundamentally rejects” the decision, the White House said on Thursday. “We remain deeply concerned by the prosecutor's rush to seek arrest warrants and the troubling process errors that led to this decision. The United States has been clear that the ICC does not have jurisdiction over this matter,” a National Security Council representative said.
The warrant for Mr Deif cites the Hamas attacks of October 7 and the taking of scores of hostages, many of whom have been missing for more than a year.
The Israeli Prime Minister’s office said it rejected “with disgust the absurd and false actions levelled against it by the ICC”. It condemned the ICC’s decision as “anti-Semitic” and “comparable to the modern-day Dreyfus trial”, referring to Alfred Dreyfus, a 19th century Jewish French army officer who was wrongfully convicted of treason and whose case sparked a national crisis.
Hamas welcomed the warrants as an “important step towards justice”. Its senior political official Basem Naim said the court's decision “remains limited and symbolic if it is not supported by all means by all countries around the world to implement it”.
The ICC's move now theoretically limits the movement of Mr Netanyahu because any of the court's 124 national members would be obliged to arrest him on their territory. Israel has faced growing international criticism over its conduct of the Gaza war, including from its allies.
Dozens were killed or unaccounted for in Gaza on Thursday after Israeli strikes. One strike near the Kamal Adwan hospital in the north of the territory left “dozens of people” dead or missing, the facility's director Hossam Abu Safiya said. Another strike was reported in a neighbourhood of Gaza city, with civil defence spokesman Mahmud Bassal saying 22 were dead.
The Health Ministry in Hamas-run Gaza said the death toll from the war has reached 44,056 people, most of them civilians.
Mr Khan sought the warrants in May and the three-judge panel has now approved prosecution. The chief prosecutor has since May faced accusations of sexual harassment in the workplace and suggested these are attempts to interfere with the prosecution.
Judges approving the arrest warrant request said they found “reasonable grounds” to believe that Mr Netanyahu and Mr Gallant “each bear criminal responsibility for the following crimes … as co-perpetrators”, listing them as “the war crime of starvation as a method of warfare; and the crimes against humanity of murder, persecution, and other inhumane acts”.
They also accused the pair of “intentionally directing an attack against the civilian population”. The judges rejected Israel's challenge to the request, which argued that the court did not have jurisdiction in Palestine, or over Israeli nationals.
“The acceptance by Israel of the court’s jurisdiction is not required, as the court can exercise its jurisdiction on the basis of territorial jurisdiction of Palestine,” the judges said. The original application included Hamas leaders Yahya Sinwar and Ismail Haniyeh but the pair were subsequently killed.
Israeli President Isaac Herzog described the judges' decision as a “dark day for humanity”. “Taken in bad faith, the outrageous decision at the ICC has turned universal justice into a universal laughing stock. It makes a mockery of the sacrifice of all those who fight for justice – from the Allied victory over the Nazis till today,” he said on social media.
“It ignores the plight of the 101 Israeli hostages held in brutal captivity by Hamas in Gaza. It ignores Hamas's cynical use of its own people as human shields. It ignores the basic fact that Israel was barbarically attacked and has the duty and right to defend its people.”
Palestinian ambassador to the UK Husam Zomlot said the decision marked a “good day for those who believed in internationalism”. “The ICC arrest warrants against Netanyahu and Gallant [are] not only a step towards accountability and justice in Palestine but also a step to restore the credibility of the rules-based international order and its judicial system,” he wrote on social media.
Others welcomed the decision. Francesca Albanese, the UN's special rapporteur on human rights in Palestine, urged the international community to work together.
“As the international community braces for potential repercussions, we must work together to keep the flame of accountability burning bright. May this time of darkness see the call for justice grow stronger,” she wrote on social media.
The EU's foreign policy chief Josep Borrell said the warrants were “binding” and should be implemented. “It is not a political decision. It is a decision of a court, of a court of justice, of an international court of justice. And the decision of the court has to be respected and implemented,” Mr Borrell said during a visit to the Jordanian capital, Amman.
Pressure is now growing on the UK and other member states of the ICC to uphold the court's arrest warrants decision. “It is now incumbent upon all parties who say they support the institutions of international law, human rights and justice to act on the ICC's warrants,” Mr Zomlot said.
Canadian Prime Minister Justin Trudeau said Canada would abide by international law if Mr Netanyahu and Mr Gallant were to travel to the country.
“We stand up for international law and we will abide by all the regulations and rulings of the international courts. It's just who we are as Canadians,” Mr Trudeau said.
“The International Criminal Court has issued arrest warrants for Netanyahu and Gallant for war crimes and crimes against humanity,” said British independent MP Zarah Sultana. “The UK government must comply with the ICC, end all arms sales, impose economic sanctions and suspend its trade deal with Israel. Nothing less will do.”
Amnesty secretary general Agnes Callamard said: “Prime Minister Netanyahu is now officially a wanted man. ICC member states and the whole international community must stop at nothing until these individuals are brought to trial before the ICC's independent and impartial judges.”
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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
Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
MATCH INFO
Newcastle United 1 (Carroll 82')
Leicester City 2 (Maddison 55', Tielemans 72')
Man of the match James Maddison (Leicester)
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%3Cul%3E%0A%3Cli%3EInform%20your%20doctor%20about%20your%20plans.%C2%A0%3C%2Fli%3E%0A%3Cli%3EAsk%20about%20your%20treatment%20so%20you%20know%20how%20it%20works.%C2%A0%3C%2Fli%3E%0A%3Cli%3EPay%20attention%20to%20your%20health%20if%20you%20travel%20to%20a%20hot%20destination.%C2%A0%3C%2Fli%3E%0A%3Cli%3EPlan%20your%20trip%20well.%C2%A0%3C%2Fli%3E%0A%3C%2Ful%3E%0A
Virtuzone GCC Sixes
Date and venue Friday and Saturday, ICC Academy, Dubai Sports City
Time Matches start at 9am
Groups
A Blighty Ducks, Darjeeling Colts, Darjeeling Social, Dubai Wombats; B Darjeeling Veterans, Kuwait Casuals, Loose Cannons, Savannah Lions; C Awali Taverners, Darjeeling, Dromedary, Darjeeling Good Eggs
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
More from Neighbourhood Watch
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.”
Abu Dhabi Sustainability Week
Tips for taking the metro
- set out well ahead of time
- make sure you have at least Dh15 on you Nol card, as there could be big queues for top-up machines
- enter the right cabin. The train may be too busy to move between carriages once you're on
- don't carry too much luggage and tuck it under a seat to make room for fellow passengers
'Operation Mincemeat'
Director: John Madden
Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton
Rating: 4/5
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
COMPANY%20PROFILE
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Result
2.15pm: Maiden Dh75,000 1,950m; Winner: Majestic Thunder, Tadhg O’Shea (jockey), Satish Seemar (trainer).
2.45pm: Handicap Dh80,000 1,800m; Winner: Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.
3.15pm: Handicap Dh85,000 1,600m; Winner: Native Appeal, Adam McLean, Doug Watson.
3.45pm: Handicap Dh115,000 1,950m; Winner: Conclusion, Antonio Fresu, Musabah Al Muhairi.
4.15pm: Handicap Dh100,000 1,400m; Winner: Pilgrim’s Treasure, Tadhg O’Shea, Satish Seemar.
4.45pm: Maiden Dh75,000 1,400m; Winner: Sanad Libya, Richard Mullen, Satish Seemar.
5.15pm: Handicap Dh90,000 1,000m; Winner: Midlander, Richard Mullen, Satish Seemar
COMPANY%20PROFILE
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills