Lord Cameron plans to work with Saudi Arabia and other allies to calm regional tensions. Reuters
Lord Cameron plans to work with Saudi Arabia and other allies to calm regional tensions. Reuters
Lord Cameron plans to work with Saudi Arabia and other allies to calm regional tensions. Reuters
Lord Cameron plans to work with Saudi Arabia and other allies to calm regional tensions. Reuters

Cameron to seek Gaza pause and UK investment at Saudi WEF summit


Soraya Ebrahimi
  • English
  • Arabic

Live updates: Follow the latest on Israel-Gaza

Lord David Cameron will call for an immediate humanitarian pause in Gaza and look to encourage investment in the UK during talks at the World Economic Forum.

The Foreign Secretary will attend the summit on Monday, which is being held in Riyadh for the first time.

The Israel-Gaza war will be part of the agenda and Mr Cameron will work with Saudi Arabia and other allies to calm regional tensions.

The UK wants to see an immediate pause in the fighting to get more aid in and hostages out of Gaza, then progress towards a permanent and sustainable ceasefire.

The minister will also seek to deepen ties with partners in the Middle East and boost inward investment to the UK.

“It is a vital time to push for UK security and prosperity," he said.

"We will be backing important trade and investment projects that will create British jobs while discussing important security issues, including Israel and Gaza.

“The UK and Saudi Arabia share close ties that mean we can work together to tackle the biggest issues facing the Middle East and the rest of the world.

“Achieving an immediate pause in Gaza, releasing hostages and ensuring aid reaches those who need it most remains a top priority and we will continue to work with key partners in the region to that end.”

Two hundred days of Israel Gaza war – in pictures

  • Palestinians move with their belongings on a road lined with destroyed buildings, in Khan Younis, in the south of the Gaza Strip, on April 22. AFP
    Palestinians move with their belongings on a road lined with destroyed buildings, in Khan Younis, in the south of the Gaza Strip, on April 22. AFP
  • An infant saved from the womb of her mother Sabreen Al Sheikh, who was killed in an Israeli strike along with her husband Shokri and her daughter Malak, lies in an incubator at Al Emirati hospital in Rafah, on April 21. Reuters
    An infant saved from the womb of her mother Sabreen Al Sheikh, who was killed in an Israeli strike along with her husband Shokri and her daughter Malak, lies in an incubator at Al Emirati hospital in Rafah, on April 21. Reuters
  • A man rides a bicycle, on April 2, past a damaged vehicle where employees from the World Central Kitchen non-profit, including foreigners, were killed in an Israeli air strike. Reuters
    A man rides a bicycle, on April 2, past a damaged vehicle where employees from the World Central Kitchen non-profit, including foreigners, were killed in an Israeli air strike. Reuters
  • A woman at the damaged Al Shifa Hospital, on April 1, after Israeli forces withdrew from the medical complex following a two-week siege. Reuters
    A woman at the damaged Al Shifa Hospital, on April 1, after Israeli forces withdrew from the medical complex following a two-week siege. Reuters
  • The view from a Jordanian flight dropping vital aid by parachute into Gaza, in March. Matthew Kynaston / The National
    The view from a Jordanian flight dropping vital aid by parachute into Gaza, in March. Matthew Kynaston / The National
  • Nozha Awad flees Al Shifa hospital with her triplet children, after an Israeli raid siege began at the medical complex, in March. Reuters
    Nozha Awad flees Al Shifa hospital with her triplet children, after an Israeli raid siege began at the medical complex, in March. Reuters
  • Palestinians gather to receive aid outside a UNRWA warehouse, in March. Reuters
    Palestinians gather to receive aid outside a UNRWA warehouse, in March. Reuters
  • A family end their fast amid the rubble of their destroyed home, during Ramadan in Rafah, in March. Reuters
    A family end their fast amid the rubble of their destroyed home, during Ramadan in Rafah, in March. Reuters
  • Wafaa Tabasi with her twin malnourished daughters, at Al Awda health centre in Rafah, in March. Reuters
    Wafaa Tabasi with her twin malnourished daughters, at Al Awda health centre in Rafah, in March. Reuters
  • Palestinians carry bags of flour taken from an aid lorry near an Israeli checkpoint in Gaza City, in February. Reuters
    Palestinians carry bags of flour taken from an aid lorry near an Israeli checkpoint in Gaza City, in February. Reuters
  • Fernando Simon Marman and Louis Hare, two Israeli hostages who, according to the Israeli military, were freed in a special forces operation in Rafah, reunite with loved ones at Sheba Medical Centre, in Ramat Gan, Israel, in February. Reuters
    Fernando Simon Marman and Louis Hare, two Israeli hostages who, according to the Israeli military, were freed in a special forces operation in Rafah, reunite with loved ones at Sheba Medical Centre, in Ramat Gan, Israel, in February. Reuters
  • Palestinian Muhammad Al Durra with his children in the ruins of a house in Rafah where they sheltered on January 11, 2024. EPA
    Palestinian Muhammad Al Durra with his children in the ruins of a house in Rafah where they sheltered on January 11, 2024. EPA
  • Family and friends at the funerals of journalists Hamza Al Dahdouh and Mustafa Thuraya on January 7, 2024 in Rafah, Gaza. Getty Images
    Family and friends at the funerals of journalists Hamza Al Dahdouh and Mustafa Thuraya on January 7, 2024 in Rafah, Gaza. Getty Images
  • Palestinians mourn relatives killed by Israeli bombardment of the Gaza Strip outside a mortuary in Khan Younis January 4, 2024. AP Photo
    Palestinians mourn relatives killed by Israeli bombardment of the Gaza Strip outside a mortuary in Khan Younis January 4, 2024. AP Photo
  • Displaced Palestinians queue to bake bread at a camp in the Muwasi area of Rafah, Gaza Strip, on December 23, 2023. AP Photo
    Displaced Palestinians queue to bake bread at a camp in the Muwasi area of Rafah, Gaza Strip, on December 23, 2023. AP Photo
  • Palestinians queue for food in Rafah, the Gaza Strip, on December 20, 2023. AP Photo
    Palestinians queue for food in Rafah, the Gaza Strip, on December 20, 2023. AP Photo
  • The ruins of Rafah on December 14, 2023. AFP
    The ruins of Rafah on December 14, 2023. AFP
  • Palestinians wounded in the Israeli bombardment of the Gaza Strip arrive at a hospital in Khan Younis on December 8, 2023. AP Photo
    Palestinians wounded in the Israeli bombardment of the Gaza Strip arrive at a hospital in Khan Younis on December 8, 2023. AP Photo
  • Palestinians flee Israeli bombing along the Salaheddine Road in the Zeitoun district of Gaza city on November 28, 2023. AFP
    Palestinians flee Israeli bombing along the Salaheddine Road in the Zeitoun district of Gaza city on November 28, 2023. AFP
  • A Red Cross vehicle takes Israeli hostages from the Gaza Strip into Egypt in Rafah on November 25, 2023. AP
    A Red Cross vehicle takes Israeli hostages from the Gaza Strip into Egypt in Rafah on November 25, 2023. AP
  • The ruins of buildings in Gaza city on November 24, 2023, as a temporary truce between Israel and Hamas took effect. AP Photo
    The ruins of buildings in Gaza city on November 24, 2023, as a temporary truce between Israel and Hamas took effect. AP Photo
  • A woman and her cat return home to eastern Khan Younis in the southern Gaza Strip during the first hours of a four-day truce between Israel and Hamas forces on November 24, 2023. AFP
    A woman and her cat return home to eastern Khan Younis in the southern Gaza Strip during the first hours of a four-day truce between Israel and Hamas forces on November 24, 2023. AFP
  • Mourning the dead of Israeli bombardment outside the mortuary at Nasser Hospital in Khan Younis on November 14, 2023. AFP
    Mourning the dead of Israeli bombardment outside the mortuary at Nasser Hospital in Khan Younis on November 14, 2023. AFP
  • Civilians and rescuers look for survivors in the rubble of a building after Israeli bombing of Khan Younis in the southern Gaza Strip on November 12, 2023. AFP
    Civilians and rescuers look for survivors in the rubble of a building after Israeli bombing of Khan Younis in the southern Gaza Strip on November 12, 2023. AFP
  • November 7, 2023, a month to the day after Hamas attacked Israel, a victim of an Israeli bombardment in Rafah is moved from the rubble. AFP
    November 7, 2023, a month to the day after Hamas attacked Israel, a victim of an Israeli bombardment in Rafah is moved from the rubble. AFP
  • Searching the rubble after Israeli air strikes on the town of Khan Younis, southern Gaza Strip, on October 26, 2023. AP Photo
    Searching the rubble after Israeli air strikes on the town of Khan Younis, southern Gaza Strip, on October 26, 2023. AP Photo
  • Mourning the Kotz family at their funeral in Gan Yavne, Israel, on October 17, 2023. AP Photo
    Mourning the Kotz family at their funeral in Gan Yavne, Israel, on October 17, 2023. AP Photo
  • An Israeli firefighter composes himself after he and his colleagues extinguished cars set on fire by a rocket fired from the Gaza Strip in Ashkelon, Israel, on October 9, 2023. AP Photo
    An Israeli firefighter composes himself after he and his colleagues extinguished cars set on fire by a rocket fired from the Gaza Strip in Ashkelon, Israel, on October 9, 2023. AP Photo
  • Palestinians with the wreckage of an Israeli tank at the Gaza Strip fence east of the city of Khan Younis on October 7, 2023, the day Hamas forces swept unopposed into Israel. AP Photo
    Palestinians with the wreckage of an Israeli tank at the Gaza Strip fence east of the city of Khan Younis on October 7, 2023, the day Hamas forces swept unopposed into Israel. AP Photo
  • Israeli police officers evacuate a woman and a child from a site hit by a rocket fired from the Gaza Strip, in Ashkelon, southern Israel, on October 7, 2023. AP Photo
    Israeli police officers evacuate a woman and a child from a site hit by a rocket fired from the Gaza Strip, in Ashkelon, southern Israel, on October 7, 2023. AP Photo

It is Lord Cameron’s eleventh visit to the Middle East since becoming Foreign Secretary in November.

The US Secretary of State Antony Blinken is also scheduled to attend the summit to try to broker a ceasefire between Israel and Hamas and prevent a regional conflagration.

Saudi Arabia has worked with other countries to contain the Gaza war and avoid a spiralling regional conflict that could derail its economic reform agenda, known as Vision 2030.

Israel’s offensive in Gaza has killed more than 34,000 people, according to local health officials, and brought destruction across the territory.

It was sparked by Hamas’s October 7 attack on Israel in which militants killed around 1,200 people and abducted around 240 hostages.

The gathering in the Saudi Arabian capital will focus on revitalising global collaboration and access to development finance and energy.

Lord Cameron will speak at a session on rejuvenating growth.

His trip comes ahead of deputy foreign secretary Andrew Mitchell’s visit to Riyadh to co-host the second UK-Saudi development dialogue and the launch of the GREAT Futures campaign, which will promote UK business in Saudi Arabia.

PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

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

MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

Expert input

If you had all the money in the world, what’s the one sneaker you would buy or create?

“There are a few shoes that have ‘grail’ status for me. But the one I have always wanted is the Nike x Patta x Parra Air Max 1 - Cherrywood. To get a pair in my size brand new is would cost me between Dh8,000 and Dh 10,000.” Jack Brett

“If I had all the money, I would approach Nike and ask them to do my own Air Force 1, that’s one of my dreams.” Yaseen Benchouche

“There’s nothing out there yet that I’d pay an insane amount for, but I’d love to create my own shoe with Tinker Hatfield and Jordan.” Joshua Cox

“I think I’d buy a defunct footwear brand; I’d like the challenge of reinterpreting a brand’s history and changing options.” Kris Balerite

 “I’d stir up a creative collaboration with designers Martin Margiela of the mixed patchwork sneakers, and Yohji Yamamoto.” Hussain Moloobhoy

“If I had all the money in the world, I’d live somewhere where I’d never have to wear shoes again.” Raj Malhotra

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

Updated: April 28, 2024, 11:01 PM