Live updates: Follow the latest on Israel-Gaza
Israel’s war in Gaza has dragged on for 19 months, but the past three days have shown just how relentless it remains.
Entire families have been wiped out in a wave of strikes attacking homes, schools, tents and more, despite a global outcry that has so far failed to pressure Israel into halting the war.
Among the most harrowing Israeli attacks was the bombing of Fahmi Al Jarjawi school in the Al Daraj neighbourhood of central Gaza city, where hundreds of displaced families had sought shelter.
“The school was supposed to be a place of safety. Instead, it was turned into an inferno,” Mahmoud Basal, spokesman for Gaza’s civil defence body, told The National. Medics announced the death of 40 people, mostly children and women.
The Israeli missile strike ignited a massive blaze that swept through the school building and the tents pitched inside its grounds. Civil defence teams battled for hours to extinguish the flames.
“We heard desperate cries for help from people trapped alive inside the blaze,” Mr Basal said. “But the fire was too intense. We couldn’t get to them.”
Hussein Muhaysin, a paramedic who rushed to the scene, was the first to rescue Ward Al Sheikh Khalil, a young girl pulled from the wreckage just before the flames reached her.
“She was moments away from death,” he told The National. “When we pulled her out, she was in shock, silent, trembling, unable to comprehend what had just happened.”
Little Ward survived. But her family did not.
“We couldn’t bring ourselves to tell her that her entire family was killed in the bombing,” said Mr Muhaysin. “Only her father survived, and he is now in critical condition,” he added.
“We see tragedy every day, but holding a child who has lost everything, who doesn’t even know yet, that’s a kind of pain no one can explain.”
Sudden death
In the northern town of Jabalia, the Abdel Rabbo family suffered a similar fate. At dawn on Monday, Israeli warplanes struck their home with a massive missile, killing 19 people, most of them women and children.
“It was sudden,” Moumen Abdel Rabbo, 28, a relative who rushed to the scene, said. “The house was completely flattened. Ambulances barely made it through to recover the wounded and the dead. Some bodies are still trapped under the rubble.”
They didn’t want anyone to escape
Suheir Al-Najjar
Even as family members tried to dig through debris, Israeli drones buzzed overhead, and surrounding areas continued to be shelled.
“How can we search for survivors under fire?” asked the relative. “These were civilians, mothers, toddlers, elderly people. This wasn’t a military target. It was our home.”
The Israeli army claimed that it was hitting Hamas targets in both areas. But images and footage of the attacks showed dozens of Palestinian women and children dead or injured.
Over the past three days, more than 75 people have been killed across various parts of the besieged territory, cut off from sufficient aid, leaving over two million people trapped between fire and famine.
Despite a global demand for an end to the war, amid rising calls for sanctions against Israel, the ceasefire negotiations have stalled for months.
Not a target
The negotiations resumed in Cairo on Monday, with mediators from Egypt, the US and Qatar presenting a slightly amended version of a previous proposal for a 70-day truce and the release of 10 Israeli hostages, according to sources close to the talks.
Of the 58 hostages still held by Hamas, only about 20 are believed to be alive, according to Israeli Prime Minister Benjamin Netanyahu.
The sources told The National that a mid-level Israeli team of negotiators and a senior Hamas official were due in Cairo on Monday to join the mediators. They added that the US administration is using Bishara Bahbah, a Palestinian-American, as an intermediary or go-between with Hamas.
According to the sources, the negotiations include talks on a "long-term" ceasefire that will commence during the 70-day truce. They were expected to also cover the departure from Gaza and into exile of senior officials from Hamas, as well as the group's ally, the Islamic Jihad.
On Monday, German Chancellor Friedrich Merz said that Israel's recent attacks on Gaza are taking a humanitarian toll on civilians that can no longer be justified as a fight against Hamas.
"Harming the civilian population to such an extent, as has increasingly been the case in recent days, can no longer be justified as a fight against Hamas terrorism," he told broadcaster WDR in a televised interview.
One of the most tragic killings in the past days was the story of Dr Alaa Al Najjar, a physician working at Nasser Hospital in Khan Younis in the south, who lost nine of her 10 children in a single Israeli air strike on their home while she was saving lives elsewhere.
“The Israeli army hit my uncle’s house with one missile that didn’t explode,” Suheir Al Najjar, a cousin, told the National. “Then came a second missile, which reduced the house to ashes.”
“There was no time between the two strikes. They didn’t want anyone to escape. It was a deliberate attempt to kill them all at once,” said Ms Al Najjar.
“My uncle and his wife are doctors. They have no links to armed groups. They spent the war treating the wounded, saving lives,” she said. “This was a family, not a target.”
Only the husband and one of the sons survived. Both remain in intensive care. The bodies of two of the nine children are still missing, buried beneath the rubble.
What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
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.”
Killing of Qassem Suleimani
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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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
UAE v Zimbabwe A, 50 over series
Fixtures
Thursday, Nov 9 - 9.30am, ICC Academy, Dubai
Saturday, Nov 11 – 9.30am, ICC Academy, Dubai
Monday, Nov 13 – 2pm, Dubai International Stadium
Thursday, Nov 16 – 2pm, ICC Academy, Dubai
Saturday, Nov 18 – 9.30am, ICC Academy, Dubai
Women’s World T20, Asia Qualifier
UAE results
Beat China by 16 runs
Lost to Thailand by 10 wickets
Beat Nepal by five runs
Beat Hong Kong by eight wickets
Beat Malaysia by 34 runs
Standings (P, W, l, NR, points)
1. Thailand 5 4 0 1 9
2. UAE 5 4 1 0 8
3. Nepal 5 2 1 2 6
4. Hong Kong 5 2 2 1 5
5. Malaysia 5 1 4 0 2
6. China 5 0 5 0 0
Final
Thailand v UAE, Monday, 7am
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Babumoshai Bandookbaaz
Director: Kushan Nandy
Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami
Three stars
Results
2-15pm: Commercial Bank Of Dubai – Conditions (TB) Dh100,000 (Dirt) 1,400m; Winner: Al Habash, Patrick Cosgrave (jockey), Bhupat Seemar (trainer)
2.45pm: Al Shafar Investment – Handicap (TB) Dh80,000 (D) 1,200m; Winner: Day Approach, Ray Dawson, Ahmad bin Harmash
3.15pm: Dubai Real estate Centre – Handicap (TB) Dh80,000 (D) 1,600m; Winner: Celtic Prince, Richard Mullen, Rashed Bouresly
3.45pm: Jebel Ali Sprint by ARM Holding – Listed (TB) Dh500,000 (D) 1,000m; Winner: Khuzaam, Pat Dobbs, Doug Watson
4.15pm: Shadwell – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Tenbury Wells, Royston Ffrench, Salem bin Ghadayer
4.45pm: Jebel Ali Stakes by ARM Holding – Listed (TB) Dh500,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson
5.15pm: Jebel Ali Racecourse – Handicap (TB) Dh76,000 (D) 1,950m; Winner: Rougher, Pat Dobbs, Doug Watson