Lebanon's President Joseph Aoun meets Iranian Foreign Minister Abbas Araghchi in Baabda, east of Beirut, on Tuesday. AP
Lebanon's President Joseph Aoun meets Iranian Foreign Minister Abbas Araghchi in Baabda, east of Beirut, on Tuesday. AP
Lebanon's President Joseph Aoun meets Iranian Foreign Minister Abbas Araghchi in Baabda, east of Beirut, on Tuesday. AP
Lebanon's President Joseph Aoun meets Iranian Foreign Minister Abbas Araghchi in Baabda, east of Beirut, on Tuesday. AP

Iranian Foreign Minister in Beirut to 'open new chapter' with Lebanon


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Iranian Foreign Minister Abbas Araghchi is in Beirut to meet top Lebanese officials and hopes “to open a new chapter in relations” with Lebanon as it begins the process of disarming non-state actors and strengthening its national army.

The visit, part of Mr Araghchi's tour of the region, comes amid calls for Tehran's strongest proxy group Hezbollah to disarm in Lebanon - an indication of Iran's uncertain regional footing.

Mr Araghchi met Lebanese President Joseph Aoun, Prime Minister Nawaf Salam and Parliament Speaker Nabih Berri.

The Iranian minister's first meeting was with Lebanese Foreign Minister Youssef Rajji, who is perhaps the strongest critic of Hezbollah in the new Lebanese government and was nominated for his position by the Lebanese Forces – parliament's largest party and an opponent of the Iran-backed group.

"They had an absolutely frank meeting," according to a Foreign Ministry source who did not wish to be identified.

"They discussed Hezbollah weapons, the negotiations between Iran and the US, rebuilding, south Lebanon, and the issue of respecting Lebanon’s sovereignty," the source added. The Iranian FM was receptive to Mr Rajji's concerns and "listened very well."

The Lebanese Foreign Minister's office said Mr Rajji emphasised the importance of securing support for Lebanon's reconstruction and economic recovery "exclusively through the Lebanese government and official institutions."

The Iranian Foreign Minister said Iranian companies were ready to help with reconstruction efforts if the Lebanese government requested it.

Iranian Foreign Minister Abbas Araghchi, centre, was joined by Iran's ambassador to Lebanon Mojtaba Amani, left, for a meeting with Lebanese Prime Minister Nawaf Salam in Beirut. AP
Iranian Foreign Minister Abbas Araghchi, centre, was joined by Iran's ambassador to Lebanon Mojtaba Amani, left, for a meeting with Lebanese Prime Minister Nawaf Salam in Beirut. AP

Iran, through Hezbollah, has donated money to cover a year's rent and loss of possessions for those who lost their homes during the war with Israel.

A source close to Hezbollah said the visit was focused solely on Iran-Lebanon relations. They said Mr Araghchi's visit had nothing to do with negotiations over Iran's nuclear programme.

"Iran’s role in reconstruction hasn’t changed; from the moment the ceasefire took effect, Tehran expressed to the Lebanese government its readiness to actively contribute to whatever Lebanon needs," the source said.

"Iran’s relationship with Hezbollah is not up for question or debate. It is a historical bond and is treated as such. It has always stood on the side of Lebanon’s strength and resilience," they added.

On the nuclear issue, Mr Araghchi said a new US proposal submitted via Oman threw up "many ambiguities and questions".

Throughout the day, Lebanese officials and the Iranian Foreign Minister repeatedly stressed a desire for a relationship based on mutual respect and non-interference in each other's relations.

Lebanon's Foreign Ministry summoned Iran's ambassador to Beirut in April over suggestions that plans to disarm Hezbollah were a "conspiracy".

Lebanon faces reconstruction and recovery needs of more than $11 billion, according to a World Bank report published earlier this year.

But who will foot that bill remains unclear, with the country bankrupt and the international community weary.

Mr Aragchi had earlier been received on arrival on Tuesday by a representative of Mr Berri and two Hezbollah MPs.

The Iranian minister will also probably meet officials from Hezbollah, the Lebanese armed group and political party. The whereabouts of its new leader Naim Qassem, who regularly gives televised speeches from an undisclosed location, are unclear.

Mr Araghchi last visited Beirut in February to attend the funeral of Hassan Nasrallah, the long-time Hezbollah leader who was assassinated last year in an Israeli bombing on the Lebanese capital.

Iranian support had been instrumental in Hezbollah turning into the region’s most powerful non-state armed group.

But its war with Israel last year has seen Hezbollah’s power significantly weakened, although it still remains a critical Lebanese actor.

Along with the killing of Mr Nasrallah, almost all of Hezbollah’s senior leadership has been wiped out as well as its largest missiles.

Lebanon is under pressure from many in the international community, as well as some inside the country, to disarm Hezbollah.

President Aoun has said he wants all arms under the control of the state as soon as possible, but insists this must be done through mediation and not force.

Mr Araghchi is travelling from Cairo, where he had said Iran is “ready to provide assurances” that its nuclear programme is peaceful, as Tehran and Washington seek to reach a deal on the issue.

COMPANY PROFILE

Name: Cofe

Year started: 2018

Based: UAE

Employees: 80-100

Amount raised: $13m

Investors: KISP ventures, Cedar Mundi, Towell Holding International, Takamul Capital, Dividend Gate Capital, Nizar AlNusif Sons Holding, Arab Investment Company and Al Imtiaz Investment Group 

Gifts exchanged
  • King Charles - replica of President Eisenhower Sword
  • Queen Camilla -  Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
  • Donald Trump - hand-bound leather book with Declaration of Independence
  • Melania Trump - personalised Anya Hindmarch handbag
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

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

FIXTURES

All games 6pm UAE on Sunday: 
Arsenal v Watford
Burnley v Brighton
Chelsea v Wolves
Crystal Palace v Tottenham
Everton v Bournemouth
Leicester v Man United
Man City v Norwich
Newcastle v Liverpool
Southampton v Sheffield United
West Ham v Aston Villa

RACE CARD

5pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Turf) 2,200m
5.30pm: Khor Al Baghal – Conditions (PA) Dh80,000 (T) 1,600m
6pm: Khor Faridah – Handicap (PA) Dh80,000 (T) 1,600m
6.30pm: Abu Dhabi Fillies Classic – Prestige (PA) Dh110,000 (T) 1,400m
7pm: Abu Dhabi Colts Classic – Prestige (PA) Dh110,000 (T) 1,400m
7.30pm: Khor Laffam – Handicap (TB) Dh80,000 (T) 2,200m

The years Ramadan fell in May

1987

1954

1921

1888

Results

5pm: Reem Island – Conditions (PA) Dh80,000 (Turf) 1,600m; Winner: Farasah, Antonio Fresu (jockey), Musabah Al Muhairi

5.30pm: Sir Baniyas Island – Maiden (PA) Dh80,000 (T) 1,400m; Winner: SSR Ghazwan, Antonio Fresu, Ibrahim Al Hadhrami

6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m; Winner: Astral Del Sol, Sean Kirrane, Ibrahim Al Hadhrami

6.30pm: Al Maryah Island – Maiden (PA) Dh80,000 (T) 2,200m; Winner: Toumadher, Dane O’Neill, Jaber Bittar

7pm: Yas Island – Handicap (PA) Dh80,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel

7.30pm: Saadiyat Island – Handicap (TB) Dh80,000 (T) 2,400m; Winner: Celestial Spheres, Gary Sanchez, Ismail Mohammed

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

How to help

Call the hotline on 0502955999 or send "thenational" to the following numbers:

2289 - Dh10

2252 - Dh50

6025 - Dh20

6027 - Dh100

6026 - Dh200

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Updated: June 03, 2025, 5:51 PM