The UAE on Wednesday approved a Dh2 billion ($540 million) aid package to support Emiratis affected by the country's worst storms on record.
Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, set out the major relief effort as he chaired a meeting of the UAE Cabinet at Qasr Al Watan in Abu Dhabi.
He said the funds would be used to address damage caused to the homes and property of citizens.
He said a committee would be established to assess the damage caused by the adverse weather, which struck the Emirates last Tuesday.
"In the Council of Ministers today, we approved an amount of 2 billion dirhams to address the damage to citizens’ homes," Sheikh Mohammed wrote on X, formerly Twitter.
"A ministerial committee was assigned to follow up on this file, inventory the damage to homes, and disburse compensation in co-operation with the rest of the federal and local authorities."
Sheikh Mohammed said the extreme weather was "unprecedented in its severity" and lessons would be learned from the deluge.
He said emergency services had received more than 200,000 calls related to the heavy flooding.
The UAE was lashed by the highest single day of rainfall in 75 years, leading to widespread flooding of homes and roads and significant disruption to travel.
Deadly floods
At least three people died in the torrential rainfall which battered large parts of the country.
An Emirati man died during fierce flash flooding on Tuesday in Ras Al Khaimah.
The citizen, who was in his 70s, was killed when his vehicle was swept away by strong currents during treacherous weather in Ras Al Khaimah.
Police said the man was attempting to travel through a flooded wadi as heavy rain battered the emirate.
Emergency response teams recovered his body.
Two people suffocated in their car in Sharjah on the same day.
The incident happened after they became trapped in their car as they travelled to their homes in Sharjah.
Maj Gen Saif Al Shamsi, commander-in-chief of Sharjah Police, told The National the two were travelling along Al Wahda Street when their vehicle became stuck in a traffic jam caused by the flooding.
“At this time, the vehicle was completely sealed, which unfortunately led to the accumulation of carbon monoxide from the running air-conditioning unit” he said.
“The autopsy confirmed their death was due to carbon monoxide poisoning."
Flood response
President Sheikh Mohamed called for a quick response from authorities.
Sheikh Mohamed expressed his appreciation for the awareness and responsibility shown by people during the adverse weather, state news agency Wam reported.
He has requested that authorities quickly work on limiting the damage caused after the country witnessed its heaviest rainfall on record.
Sheikh Mohamed also asked that necessary support be provided to all families affected by the severe weather, ordering that they be moved to safe locations in co-operation with local authorities.
Economy and tourism on agenda
Ministers reviewed the nation's economic progress and a positive tourism outlook during the meeting.
Sheikh Mohammed said economic partnerships agreed with more than a dozen countries would enable the country to increase exports by Dh366bn annually by 2031.
The Prime Minister said the UAE's foreign trade for all goods in services reached Dh445bn in 2023, a record figure.
The Prime Minister revealed the number of hotel guests nationwide reached 28 million in 2023, up 11 per cent on the previous year.
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Voices: How A Great Singer Can Change Your Life
Nick Coleman
Jonathan Cape
THE SPECS
Engine: Four-cylinder 2.5-litre
Transmission: Seven-speed auto
Power: 165hp
Torque: 241Nm
Price: Dh99,900 to Dh134,000
On sale: now
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
Need to know
Unlike other mobile wallets and payment apps, a unique feature of eWallet is that there is no need to have a bank account, credit or debit card to do digital payments.
Customers only need a valid Emirates ID and a working UAE mobile number to register for eWallet account.
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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Omar Yabroudi's factfile
Born: October 20, 1989, Sharjah
Education: Bachelor of Science and Football, Liverpool John Moores University
2010: Accrington Stanley FC, internship
2010-2012: Crystal Palace, performance analyst with U-18 academy
2012-2015: Barnet FC, first-team performance analyst/head of recruitment
2015-2017: Nottingham Forest, head of recruitment
2018-present: Crystal Palace, player recruitment manager
Essentials
The flights
Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
The tours
Superb ape-watching tours that take in all three gorilla countries mentioned above are run by Natural World Safaris. In September, the company will be operating a unique Ugandan ape safari guided by well-known primatologist Ben Garrod.
In the Democratic Republic of Congo, local operator Kivu Travel can organise pretty much any kind of safari throughout the Virunga National Park and elsewhere in eastern Congo.
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
