Live updates: Follow the latest on Israel-Gaza
All flights to and from Sanaa airport in Yemen have been suspended due to damage inflicted by Israeli air strikes.
The airport's general director Khaled Al Shaief said in a post on X early on Wednesday that the Israeli strikes the previous day had caused “extensive damage”.
The strikes involved 50 bombs, “dozens” of aircraft and mid-air refuelling, the Israeli military said. "Fighter jets struck and dismantled Houthi terrorist infrastructure at the main airport in Sanaa, fully disabling the airport," it added.
The operation came just hours before US President Donald Trump and mediator Oman announced a truce between Yemen's Houthi rebels and Washington, which has been carrying out its own intensive bombing campaign in Yemen in recent weeks.
The US had been targeting Houthi assets in an attempt to stop the Iran-backed group attacking international shipping in the Red Sea, which the Houthis say they have been doing in solidarity with Palestinians over the war in Gaza.
Israel's strikes on Tuesday came in response to a missile fired by the Houthis on Sunday that landed near Israel's main international airport, Ben Gurion, outside Tel Aviv. Prime Minister Benjamin Netanyahu had vowed to fight back.
Ceasefire deal
Oman, meanwhile, said the ceasefire agreement between the US and the Houthis would ensure “freedom of navigation” in the Red Sea.
Foreign Minister Badr Al Busaidi said: “Following recent discussions and contacts … with the aim of de-escalation, efforts have resulted in a ceasefire agreement between the two sides.
“Neither side will target the other … ensuring freedom of navigation and the smooth flow of international commercial shipping.”
Mr Trump said the Houthis had “capitulated”, adding: “The Houthis have announced ... that they don't want to fight any more. They just don't want to fight. And we will honour that, and we will stop the bombings.
“They say they will not be blowing up ships any more, and that's ... the purpose of what we were doing.”
The Houthis did not directly comment on the truce but Mahdi Al Mashat, head of their supreme political council, said in a statement carried by the rebel-controlled Saba news agency early on Wednesday that “continued escalation” would affect a visit by Mr Trump to the Middle East scheduled for next week.
“We indirectly informed the Americans that the continued escalation will affect the criminal Trump’s visit to the region, and we have not informed them of anything else,” he said. Mr Trump is due to visit Saudi Arabia, Qatar and the UAE.
Mr Al Mashat, however, promised a “painful” response to the Israeli strikes. He said Houthi attacks on Israel “will continue” and go “beyond what the Israeli enemy can withstand”.
Video of the Israeli strikes on Sanaa airport aired by the Houthis' Al Masirah satellite news channel showed the terminal's windows blown out, with concrete blocks exposed and a fire burning inside. On the runway, aircraft associated with the state carrier Yemenia burned.
Other Israeli strikes elsewhere in Yemen hit a cement plant and power plants, the Houthis and Israelis both said.
Israeli Defence Minister Israel Katz said the strikes should be seen as a warning to the “head of the Iranian octopus”, which he said bears direct responsibility for attacks by the Houthis against Israel.
Hans Grundberg, the UN's special envoy for Yemen, called the attacks in Yemen and Israel “a grave escalation in an already fragile and volatile regional context”.
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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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Sholto Byrnes on Myanmar politics
COMPANY%20PROFILE
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Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
MATCH INFO
Uefa Champions League last-16, second leg:
Real Madrid 1 (Asensio 70'), Ajax 4 (Ziyech 7', Neres 18', Tadic 62', Schone 72')
Ajax win 5-3 on aggregate
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
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What to watch out for:
Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways
The hulls of three ships will be used for the roof
The hulls will painted to make the largest Italian tricolour in the country’s history
Several pillars more than 20 metres high will support the structure
Roughly 15 tonnes of steel will be used
