The use of genetic engineering to save endangered species is the subject of debate ahead of a major international conservation gathering in the UAE later this year.
In a motion due to be presented at the International Union for Conservation of Nature (IUCN) World Conservation Congress, in Abu Dhabi in October, opponents of the technology have warned of “unforeseeable impacts” if wild species are genetically modified.
The motion to the IUCN congress calls for a moratorium on genetic engineering, which has been used in conservation in efforts to recreate lost species. It says genetically modified organisms (GMOs) could “significantly damage ecosystems” and move across borders in an “uncontrollable” way.
“Genetic engineering of wild species in natural ecosystems undermines established and effective nature conservation strategies, many grounded in the traditional knowledge and practices of indigenous people and local communities,” states the motion. It is supported by organisations including the Canadian Biotechnology Action Network and the Stop Gene Drive campaign.
The motion argues that genetically engineering wild organisms goes against the “practices, values and principles of nature conservation” that the IUCN promotes.
Promoting conservation
However, in a public letter, a group of scientists and organisations have hit back at the moratorium proposal, warning that it would hamper the use of science to promote conservation.
They have particular concerns about restrictions on the emerging field of synthetic biology, which involves, for example, genetically engineering organisms to produce substances that confer disease resistance.
Signatories to the letter, among them American Bird Conservancy, the Charles Darwin Foundation and the European Bureau for Conservation and Development, say that many existing conservation tools – such as replanting coral reefs or moving organisms to increase genetic diversity – are expensive and difficult to use on a large scale.
Technologies such as synthetic biology could, they argue, “address challenges that have proven difficult or impossible to solve using traditional means”.
Approaches that could prove useful include, they say, genetically engineering bacteria to combat coral reef bleaching, which happens at high temperatures and is a major problem in the Gulf region. Other applications they say could be jeopardised by bans on the genetic engineering of wild species include modifying frogs to be resistant to deadly fungi, or engineering rodents to control invasive alien species.
They are concerned that scientists could be discouraged from using genetic engineering in conservation if the IUCN comes out publicly against the approach.
“An IUCN moratorium on genetically engineering wild species and microbiome communities would stifle research, compromise potential breakthroughs, and send a discouraging message to the next generation of scientists advancing transformative solutions in conservation and health,” the letter says.
Among the signatories to the letter is Colossal Biosciences, an American company attempting to recreate extinct species such as the woolly mammoth.
Fantasy becomes reality
In April this year the firm claimed to have “de-extincted” dire wolves, a species made famous by the television series Game of Thrones.
Other signatories include scientists in Bulgaria, France, the Philippines, the UK and the US. In total more than 100 individuals, organisations and campaigners have signed the letter.
The IUCN World Conservation Congress, held every four years, will take place in the UAE capital from October 9 to 15.
The congress includes the members’ assembly, where member organisations make decisions that “influence global policy and set the conservation agenda for years to come”.
The UAE has other strong links to the IUCN. The organisation’s president is Razan Al Mubarak, who is also managing director of the Environment Agency – Abu Dhabi and the Mohamed bin Zayed Species Conservation Fund.
Genetic engineering technologies have caused controversy for decades, particularly in Europe, where the use of GMOs in agriculture remains tightly restricted.
In the Philippines, plans to grow Golden Rice, a form of the crop engineered to combat Vitamin A deficiency, were halted by a court last year.
Dr Alexander Lees, a reader in biodiversity at Manchester Metropolitan University in the UK, who is not connected to the letter opposing the motion, said the application of synthetic biology to biodiversity conservation “remains a divisive paradigm for conservationists”.
“Whilst some applications like ‘de-extinction’ are widely viewed with scepticism, engaging with other applications like species-specific biological control for invasive species would appear to offer real hope of tackling up-til-now intractable problems,” he said.
He said another motion presented to the congress offered “a flexible but cautious path” to deal with the issue on a case-by-case basis, given that “inaction in many cases may transpire to be a greater risk than taking action without full knowledge of the consequences”. A moratorium may, Dr Lees suggested, “be overly cautious”.
Another biologist not connected to the letter, Prof William Kunin, professor of ecology at the University of Leeds in the UK, said the alternatives to using genetic engineering “are often much worse” than the technology itself.
“What often happens in these sorts of debates [is] people look at an intervention in isolation compared to the alternatives,” he said.
When it comes to controlling mosquitoes that spread malaria, for example, alternatives to genetically engineering the creatures might include, Prof Kunin said, “spreading pesticides over vast areas or draining swamps”, that might be “incredibly biodiverse”.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
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COMPANY PROFILE
Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund
England squads for Test and T20 series against New Zealand
Test squad: Joe Root (capt), Jofra Archer, Stuart Broad, Rory Burns, Jos Buttler, Zak Crawley, Sam Curran, Joe Denly, Jack Leach, Saqib Mahmood, Matthew Parkinson, Ollie Pope, Dominic Sibley, Ben Stokes, Chris Woakes
T20 squad: Eoin Morgan (capt), Jonny Bairstow, Tom Banton, Sam Billings, Pat Brown, Sam Curran, Tom Curran, Joe Denly, Lewis Gregory, Chris Jordan, Saqib Mahmood, Dawid Malan, Matt Parkinson, Adil Rashid, James Vince
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
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
Spider-Man%202
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'How To Build A Boat'
Jonathan Gornall, Simon & Schuster
Honeymoonish
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
Killing of Qassem Suleimani
Company: Instabug
Founded: 2013
Based: Egypt, Cairo
Sector: IT
Employees: 100
Stage: Series A
Investors: Flat6Labs, Accel, Y Combinator and angel investors
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.”
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NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5