World Governments Summit: live updates
The World Governments Summit in Dubai opened on Tuesday with a speech by its chairman calling on humanity to learn from the mistakes of the past as a new technological age begins.
Over the next 25 years, Mohammed Al Gergawi, Minister of Cabinet Affairs said, artificial intelligence would move civilisation ahead faster than at any stage in history.
He also called on governments to keep pace with innovation and asked the richest nations to contribute more to eliminate poverty. “The past 25 years have been nothing short of extraordinary,” said Mr Al Gergawi.
“Marked by certain transformations and unprecedented shifts, the world in 2000 was optimistic, with globalisation seen as an unstoppable force for economic good and technological innovation. But the opposite has happened and we have given way to fragmentation, protectionism and populism.”
Growing population
The global population has increased from six billion in 2000 to 8.2 billion today, while the global economy has tripled to $33 trillion.
This century, the world went from domination by traditional industrial giants driven by oil, heavy manufacturing and financial services to one dominated by technology.
Conflict and natural disasters have cost millions of lives and displaced millions more.
Mr Al Gergawi said with only four per cent of conflicts resolved by peace agreements, it was time to look for alternatives to war through diplomacy.
“What if we had selected peace over violence and diplomatic solutions?” Mr Al Gergawi said in the summit’s opening address.
“A utopia – but we can make more wise decisions when we realise that stability and coexistence are much better than conflicts. It is said those who fail to learn from history are destined to repeat it.”
The minister said a disintegrating public trust in governments had led to a rise in populism, and he warned of further unrest.
“Since 2000, we have witnessed a decline and the level of trust in governments in many countries, and a rise of populist movements and protests around the world,” said Mr Al Gergawi.
“Studies suggest that eradicating hunger and disease would require approximately $800 billion annually. If the world's 50 largest economies allocated just one per cent of their GDP to solve these challenges, it would be more than enough – the decision is in our hands. Our future does not require miracles, only a commitment to our humanitarian values.”
Rapid rate of change
Discussion on the opening morning of the summit included how governments operate in an age of artificial intelligence, and how to innovate in a more connected world with an ageing population.
In 2050, more than 20 per cent of the world's population will be over the age of 60, double the percentage recorded in 2000.
While tackling the health challenges of an ageing population, governments will also have to keep pace with the rapid rate of change.
“We are now moving from the industrial age to the intelligent age, but there's one big difference,” said Klaus Schwab, chairman of the board of trustees at the World Economic Forum.
“Where we had several generations to adapt, this transition is happening at exponential speed. It's a transition to a new time, which will change everything - how we communicate, how we work and how we live.
“Governments have to be enablers of this change at lightning speech, to provide the necessary infrastructure and to co-operate with business. Transition into this new intelligent age will only be mastered if all human society works together.”
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.
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Fire and Fury
By Michael Wolff,
Henry Holt
Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi
Yadoo’s House Restaurant & Cafe
For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.
Golden Dallah
For the cappuccino, luqaimat and aseeda.
Al Mrzab Restaurant
For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.
Al Derwaza
For the fish hubul, regag bread, biryani and special seafood soup.
How it works
1) The liquid nanoclay is a mixture of water and clay that aims to convert desert land to fertile ground
2) Instead of water draining straight through the sand, it apparently helps the soil retain water
3) One application is said to last five years
4) The cost of treatment per hectare (2.4 acres) of desert varies from $7,000 to $10,000 per hectare
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
Results
57kg quarter-finals
Zakaria Eljamari (UAE) beat Hamed Al Matari (YEM) by points 3-0.
60kg quarter-finals
Ibrahim Bilal (UAE) beat Hyan Aljmyah (SYR) RSC round 2.
63.5kg quarter-finals
Nouredine Samir (UAE) beat Shamlan A Othman (KUW) by points 3-0.
67kg quarter-finals
Mohammed Mardi (UAE) beat Ahmad Ondash (LBN) by points 2-1.
71kg quarter-finals
Ahmad Bahman (UAE) defeated Lalthasanga Lelhchhun (IND) by points 3-0.
Amine El Moatassime (UAE) beat Seyed Kaveh Safakhaneh (IRI) by points 3-0.
81kg quarter-finals
Ilyass Habibali (UAE) beat Ahmad Hilal (PLE) by points 3-0
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
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On sale: Now
The specs: 2018 Infiniti QX80
Price: base / as tested: Dh335,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 400hp @ 5,800rpm
Torque: 560Nm @ 4,000rpm
Fuel economy, combined: 12.1L / 100km
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The specs
Engine: 1.6-litre 4-cyl turbo
Power: 217hp at 5,750rpm
Torque: 300Nm at 1,900rpm
Transmission: eight-speed auto
Price: from Dh130,000
On sale: now
LIKELY TEAMS
South Africa
Faf du Plessis (captain), Dean Elgar, Aiden Markram, Hashim Amla, AB de Villiers, Quinton de Kock (wkt), Vernon Philander, Keshav Maharaj, Kagiso Rabada, Morne Morkel, Lungi Ngidi.
India (from)
Virat Kohli (captain), Murali Vijay, Lokesh Rahul, Cheteshwar Pujara, Rohit Sharma, Ajinkya Rahane, Hardik Pandya, Dinesh Karthik (wkt), Ravichandran Ashwin, Bhuvneshwar Kumar, Ishant Sharma, Mohammad Shami, Jasprit Bumrah.
The specs
Engine: 3.0-litre six-cylinder MHEV
Power: 360bhp
Torque: 500Nm
Transmission: eight-speed automatic
Price: from Dh282,870
On sale: now
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait