Iran began on Thursday a two-day naval drill, its largest such exercise since the 12-day war with Israel in June.
Iranian officials repeatedly call for preparation for the "worst-case scenario" in case fighting resumes.
Iranian officials have warned that Tehran will increase military capabilities and have vowed to launch a stronger response in the event of another attack by Israel or the US.
Admiral Abbas Hassani said the drill consists of surface and sub-surface vessels, aircraft, coastal and sea-based missile units, and electronic warfare teams in the northern Indian Ocean and the Sea of Oman, Tasnim news agency reported.
While military drills are common in Iran, the Sustainable Power 1404 exercise comes as belligerent threats between the two regional foes continue. The Iranian navy, based in Bandar Abbas, patrols the Gulf of Oman, the Indian Ocean and the Caspian Sea, while the strategic Strait of Hormuz is left to the Islamic Revolutionary Guard Corps (IRGC).
Israel launched a surprise military offensive on June 13 that eliminated Iranian generals and scientists, while also bombing nuclear enrichment sites and air defences. Iran retaliated by launching missile and drone attacks at Israel. The US then joined in, striking Iranian nuclear bases and claiming to have "obliterated" them.
Iranian Foreign Minister Abbas Araghchi has warned Tehran will respond to Israel or the US in a “more decisive manner” should they attack the country again.
During the war two months ago, Israeli Prime Minister Benjamin Netanyahu claimed his forces had destroyed half of Iran's missile launchers.
Adm Hassani said the exercises would involve an extensive missile and drone drill, drawing on the lessons learnt from the war with Israel. He said the two objectives were to create deterrence and assure the Iranian people that the country's armed forces are ready to repel any threats.
On Tuesday, the IRGC claimed it is stronger now than before the war. “This success exists for us to increase our power and capability, and people see its manifestation in action, like the 12-day war, when the whole world was determined to confront Iran," the forces' deputy commander Ali Fadavi said.
Defence Minister Brig Gen Aziz Nasirzadeh said the country has equipped its forces with new missiles. "In response to any potential enemy adventurism, our forces are prepared to use these new missiles effectively," he told the state-run Irna outlet.
Yahya Rahim Safavi, a military adviser to Ayatollah Ali Khamenei, Iran supreme leader, told Iranian media the country was “preparing plans for the worst-case scenario", warning that war with Israel could once again erupt at any moment, describing the lull since the June 24 ceasefire as a temporary halt.
“We must be prepared at every moment for confrontation. Right now, we are not even in a ceasefire [agreement], we are in a cessation of hostilities,” said First Vice President Mohammad Reza Aref.
Iranian President Masoud Pezeshkian was in Belarus on Wednesday where he signed a package of 13 documents with President Alexander Lukashenko. The two did not disclose further details on how they intend to co-operate in the defence sector. Both countries are under western sanctions and are close allies of Russia.
The specs: 2017 Dodge Ram 1500 Laramie Longhorn
Price, base / as tested: Dhxxx
Engine: 5.7L V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 556Nm @ 3,950rpm
Fuel economy, combined: 12.7L / 100km
The specs: 2018 Alfa Romeo Stelvio
Price, base: Dh198,300
Engine: 2.0L in-line four-cylinder
Transmission: Eight-speed automatic
Power: 280hp @ 5,250rpm
Torque: 400Nm @ 2,250rpm
Fuel economy, combined: 7L / 100km
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
MATCH INFO
Manchester United v Manchester City, Wednesday, 11pm (UAE)
Match is on BeIN Sports
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 currency: the story behind the money in your pockets
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
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
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
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