Trump's Middle East tour leaves Israel in 'confusion'

Live updates: Follow the latest on Trump's Gulf trip

US President Donald Trump's visit to the Middle East has left Israel in a position of uncertainty, highlighting differences over Iran and Syria while it presses on with its war in Gaza, experts have told The National.

Mr Trump on Friday concluded a Gulf tour on which he met Syria’s President Ahmad Al Shara, signed major economic deals worth trillions of dollars with the UAE, Saudi Arabia and Qatar, and attempted to tackle several crises and conflicts across the Middle East.

He also set out a carrot-and-stick approach to Iran and raised the prospect of Saudi Arabia joining the Abraham Accords and establishing ties with Israel, though that is yet to happen.

"Mr Trump has not only left out Israel from his tour, which certainly conveys certain signals, but also shed light on policy differences between Washington and Tel Aviv over Syria and Iran," said Sanam Vakil, director of the Middle East North Africa Programme at London's Chatham House.

Mr Trump's visit "shows the close relationship between Gulf states and Washington and his willingness to listen to them on key regional issues", Ms Vakil told The National.

President Trump in Abu Dhabi - in pictures

Diplomatic differences

US Secretary of State Marco Rubio said on Thursday he spoke to Israeli Prime Minister Benjamin Netanyahu about Syria and Iran while Mr Trump was touring the Gulf, and assured him of the solid ties between the two states.

Mr Rubio "stressed the deep US commitment to its historic relationship with Israel and the ironclad US support for Israeli security", State Department spokeswoman Tammy Bruce said. She said the two men expressed a "mutual commitment to make sure Iran never possesses a nuclear weapon".

However, Mr Trump's trip leaves a confused picture behind in Israel, said Kobi Michael, a senior researcher at the country's Institute for National Security Studies.

“There is a sort of confusion because on the one hand, politicians in Israel feel that they were thrown aside, but on the other hand, there is no doubt that some things that have been said or done by Mr Trump are deeply and well co-ordinated with Israel,” he said.

The co-ordinated issues included the push to include Saudi Arabia and other Arab states in the Abraham Accords, Mr Michael told The National. But Mr Trump's move to lift US sanctions on Syria was a move that Israel has opposed.

President Trump met Syrian leader Ahmad Al Shara in Riyadh a day after announcing the lifting of sanctions. Reuters

The visit also comes at a time where the US has been engaged in talks with Iran – mediated by Oman – with four rounds being held since April 12. Both sides have described the negotiations positively and a further round is expected soon.

Reports have emerged of ties between Mr Trump and Mr Netanyahu becoming strained as the two leaders are at odds over a possible Iranian nuclear deal. Israel has previously opposed making concessions to Tehran on the nuclear issue.

Gaza war

Mr Trump said on Friday “good things” would happen in the Gaza Strip over the next month. That was a change from his previous rhetoric, having threatened that "all hell is going to break out" if Hamas did not release Israeli hostages.

“We have to help the Palestinians, a lot of people are starving in Gaza,” said Mr Trump after boarding Air Force One in the UAE, without elaborating on what would happen.

Earlier in the day, speaking at a business forum in Abu Dhabi, Mr Trump said he was looking to resolve a range of global crises, including Gaza. “We’re looking at Gaza,” he said. “And we’ve got to get that taken care of. A lot of people are starving. A lot of people are – there’s a lot of bad things going on.”

Israel has been pressing ahead with its brutal war on the besieged strip. No aid has entered since early March and the entire population of Gaza is at critical risk of famine, with half a million people facing starvation, a global hunger monitor warned this week. On Friday, it was reported that at least 250 people have been killed by the latest round Israeli strikes in Gaza.

Hunger and displacement are rampant in Gaza as Israel steps up its military campaign. EPA

Houthi surprise

Israel was also taken by surprise when the US announced a ceasefire with Yemen’s Houthi rebels early this month.

The agreement mediated by Oman stipulates neither the US nor the Houthis would target the other, including US vessels in the Red Sea and Bab Al Mandeb. The deal did not feature Israel.

Dina Esfindiary, Middle East geoeconomics lead at Bloomberg Economics, told The National the move shows “the relationship between Mr Trump and Israeli Prime Minister Benjamin Netanyahu isn't as comfortable as many may think”.

That the deal does not cover Israel is “interesting in itself, they were not even told about it and were taken by surprise when they heard”, she said.

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km

The specs

Engine: 4-litre twin-turbo V8

Transmission: eight-speed PDK

Power: 630bhp

Torque: 820Nm

Price: Dh683,200

On sale: now

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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.”

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A list of the animal rescue organisations in the UAE

Looking for a new family pet? Here are the links to visit when it comes to adopting...

Animal Welfare Abu Dhabi

Rescue of Abu Dhabi

Feline Friends Abu Dhabi

Animal Welfare Al Ain

Yanni Animal Welfare

Animals and Us Fujairah

Arabian Saluki Center of Dubai (Ascod)

38 Smiles

Emirates Animal Welfare Society

Red Paw Foundation

KittySnip

Saluki International Rescue

K9 Friends Dubai

Amanda's Animal Rescue UAE

Ahmed's Animal Rescue

Al Mayya K9 Adoptions

New Life Rescue

Rescue Animals in Need United Arab Emirates

Stray Dogs Center UAQ

Sniff - Strays Needing Interim of Furever Friends

PARA UAE - Protection of Animal Rights Association

Ras Al Khaimah Animal Welfare Centre

Shepherd Rescue Arabia

Friends of Rakawc

UAQAC Umm Al Quwain Animal Care

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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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Starfield

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Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

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The Settlers

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Tailors and retailers miss out on back-to-school rush

Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”

A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.

“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”

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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

UK%20record%20temperature

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ANATOMY%20OF%20A%20FALL

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PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

Trump's Middle East tour leaves Israel in 'confusion'

Trip highlights policy gaps on Syria and Iran – and omits meeting with Israel

President Trump in Abu Dhabi - in pictures

Diplomatic differences

Gaza war

Houthi surprise

The specs: 2018 Nissan 370Z Nismo

The specs

What%20is%20cystic%20fibrosis%3F

Who's who in Yemen conflict

While you're here

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COMPANY%20PROFILE

A list of the animal rescue organisations in the UAE

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Towering concerns

Nayanthara: Beyond The Fairy Tale

Ten tax points to be aware of in 2026

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FORSPOKEN

Company%20of%20Heroes%203

Star%20Wars%20Jedi%3A%20Survivor

Suicide%20Squad%3A%20Kill%20the%20Justice%20League

Final%20Fantasy%20XVI

Street%20Fighter%206

Diablo%20IV

Baldur's%20Gate%203

The%20Legend%20of%20Zelda%3A%20Tears%20of%20The%20Kingdom

Marvel's%20Spider-Man%202

Assassin's%20Creed%20Mirage

Starfield

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While you're here

Disclaimer

The Settlers

Tailors and retailers miss out on back-to-school rush

Explained

Key facilities

UK%20record%20temperature

While you're here

ANATOMY%20OF%20A%20FALL

PROFILE OF SWVL