Abu Dhabi environment officials have hailed the first recorded sighting of a whitespotted grouper in the emirate's waters as a “major biodiversity milestone”.
The Environment Agency Abu Dhabi captured images of the species in September.
The fishis not considered critically endangered globally but its presence in Abu Dhabi waters is rare and was previously undocumented.
It is now registered on the international FishBase database, a global biodiversity information system, with Abu Dhabi as a recorded location, marking a first for the region.
“The first recorded presence of the whitespotted grouper [Epinephelus coeruleopunctatus] is a major biodiversity milestone,” the agency told The National on Tuesday.
“It indicates either improved habitat conditions or previously unrecorded distribution, both of which are valuable indicators of ecosystem resilience and monitoring effectiveness. This is the first confirmed record in the emirate, making it an important new addition to the UAE’s marine species inventory."
Groupers are a diverse group of fish and often loosely referred to in the Middle East as hammour. The whitespotted grouper, typically brownish grey in colour with distinctive white spots, can be found across the Indo-Pacific region. It is generally found in rocky areas, or near where coral is growing in chiefly shallow waters. It can grow up to more than 70cm.
The landing of 55 nuaimi fish, a species rarely sighted in recent years, is also being seen as a sign of healthier seas. Photo: Environment Agency Abu Dhabi
The sighting is not the only boost for Abu Dhabi's waters over the past few months. The EAD also said 55 nuaimi fish, a species rarely sighted in recent years, were also landed in the emirate’s waters recently.
Crucial discovery
“This is very significant as the landing of 55 nuaimi fish [Pinjalo pinjalo] a species previously seen in very low numbers, suggests that fish populations are beginning to recover in healthier marine environments.”
Additional sightings have also been made recently of rare species such as the large-scaled triggerfish and the spotted oceanic triggerfish.
The sightings came as the EAD also reported an increase in the “sustainable fisheries index”, which measures how healthy fish populations are and how well fishing practices are helping them stay that way. It reached 97.4 per cent by the end of last year – up from just 8.9 per cent in 2018.
The EAD said this means nearly all of the “assessed fish stocks in Abu Dhabi are now being fished at sustainable levels”.
“In other words, they are no longer being overfished and have a good chance to recover naturally,” the EAD said. “This is a major improvement from 2018, when only 8.9 per cent of stocks were within safe limits.”
The development comes as Abu Dhabi continues its efforts to bolster sustainability of the emirate’s seas and indicate healthier marine ecosystems as the world marked World Oceans Day on Sunday.
Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region and chairman of the EAD, said the achievement in the fisheries index reflected Abu Dhabi’s “unwavering commitment and the diligent efforts of the Environment Agency – Abu Dhabi” to protect marine resources.
“It reinforces Abu Dhabi’s ambitious vision to strike a harmonious balance between economic growth and environmental sustainability, serving as a global model for confronting environmental challenges for a prosperous and resilient future,” he said.
Dr Shaikha Al Dhaheri, secretary general of the EAD, said the significant progress made in the index underlines Abu Dhabi’s leadership in environmental conservation.
“We are committed to deploying best-in-class management practices and leveraging scientific capabilities to restore fish populations and protect marine ecosystems,” she said.
“This success affirms the importance of evidence-based policy and global best practices in conserving our natural heritage for future generations."
The EAD said: “By combining policy enforcement, protected areas, habitat restoration, and community engagement, the emirate is positioning itself as a regional and global model for sustainable marine management."
it also said the findings were a “success story” and part of a broader long-term, science-driven strategy by the EAD to protect and restore marine life in Abu Dhabi.
“By combining policy enforcement, protected areas, habitat restoration, and community engagement, the emirate is positioning itself as a regional and global model for sustainable marine management.”
The health of the world's seas are in sharp focus this week as nations meet in France at the UN Ocean Conference. The gathering seeks to build momentum and money for marine conservation despite the world's seas being affected by pollution, mining, overfishing and other issues.
At home, authorities have made concerted efforts over the past few years to ensure the recovery of fish stocks and put the emirate on a path to sustainability.
These measures include regulating commercial fishing activities through sustainable methods, as well as implementing new regulations for recreational fishing.
There are six marine reserves in Abu Dhabi, for example.
Coral reefs of Al Yasat Marine Protected Area in Abu Dhabi. Photo: Environment Agency Abu Dhabi
In 2019, gargoor, traditional metal dome-shaped traps used by fishermen, were banned in Abu Dhabifollowing a study that showed declines in hammour and farsh.
These efforts have continued since. The EAD in May unveiled a plan to plant millions of coral colonies by 2030. The project builds on the success of restoring one million coral colonies since 2021.
Fish numbers and species variety have increased by more than 50 per cent around these areas, the EAD said.
It plans to create “gardens” by installing 40,000 eco-friendly artificial corals of various designs and sizes.
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
'Brazen'
Director: Monika Mitchell
Starring: Alyssa Milano, Sam Page, Colleen Wheeler
Tissue re-implanted at a time of the patient’s choosing
Full hormone production regained within 4-6 months
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.”
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
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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
The line up
Friday: Giggs, Sho Madjozi and Masego
Saturday: Nas, Lion Bbae, Roxanne Shante and DaniLeigh
Sole DXB runs from December 6 to 8 at Dubai Design District. Weekend pass is Dh295 while a one day pass is Dh195. Tickets are available from www.soledxb.com
Brunch has been around, is some form or another, for more than a century. The word was first mentioned in print in an 1895 edition of Hunter’s Weekly, after making the rounds among university students in Britain. The article, entitled Brunch: A Plea, argued the case for a later, more sociable weekend meal. “By eliminating the need to get up early on Sunday, brunch would make life brighter for Saturday night carousers. It would promote human happiness in other ways as well,” the piece read. “It is talk-compelling. It puts you in a good temper, it makes you satisfied with yourself and your fellow beings, it sweeps away the worries and cobwebs of the week.” More than 100 years later, author Guy Beringer’s words still ring true, especially in the UAE, where brunches are often used to mark special, sociable occasions.
SNAPSHOT
While Huawei did launch the first smartphone with a 50MP image sensor in its P40 series in 2020, Oppo in 2014 introduced the Find 7, which was capable of taking 50MP images: this was done using a combination of a 13MP sensor and software that resulted in shots seemingly taken from a 50MP camera.
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
Contracted list
Ashton Agar, Alex Carey, Pat Cummins, Aaron Finch, Peter Handscomb, Josh Hazlewood, Travis Head, Usman Khawaja, Nathan Lyon, Glenn Maxwell, Shaun Marsh, Mitchell Marsh, Tim Paine, Matt Renshaw, Jhye Richardson, Kane Richardson, Billy Stanlake, Mitchell Starc, Marcus Stoinis, Andrew Tye.
Opening Rugby Championship fixtures:Games can be watched on OSN Sports Saturday: Australia v New Zealand, Sydney, 1pm (UAE) Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)
1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention
2) There are about 11,000 patients in the country in need of organ transplants
3) People must be over 21. Emiratis and residents can register.
4) The campaign uses the hashtag #donate_hope
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
