US President Joe Biden, right, and Israeli Prime Minister Benjamin Netanyahu during a meeting in the Oval Office of the White House on July 25, 2024. AFP
US President Joe Biden, right, and Israeli Prime Minister Benjamin Netanyahu during a meeting in the Oval Office of the White House on July 25, 2024. AFP
US President Joe Biden, right, and Israeli Prime Minister Benjamin Netanyahu during a meeting in the Oval Office of the White House on July 25, 2024. AFP
US President Joe Biden, right, and Israeli Prime Minister Benjamin Netanyahu during a meeting in the Oval Office of the White House on July 25, 2024. AFP

October 7 anniversary: America’s year of failed diplomacy on Gaza


Willy Lowry
  • English
  • Arabic

Live updates: Follow the latest news on Israel-Gaza

Within days of the October 7 Hamas attacks, a who's who of senior US officials had visited Israel to reassure the Israeli government that President Joe Biden had their back, no matter what. One year on, it has become obvious the feeling is not mutual.

Time and again, Prime Minister Benjamin Netanyahu's administration has stymied US-led attempts to win a ceasefire, humiliating Mr Biden and making him appear subservient as America provides Israel with most of the weapons it is using to wage war in Gaza and Lebanon.

Since its founding in 1948, Israel has received more US aid than any other country. In April, Mr Biden signed off an emergency security package worth $14.3 billion.

Perhaps the most embarrassing moment for the Biden administration came during the UN General Assembly last month, where US, French and allied diplomats spent days frantically working on a three-week ceasefire between Israel and Hezbollah.

But instead of weighing an end to the violence, Mr Netanyahu gave a fiery speech at the UN podium before approving – while still on US soil – the strike that would kill Hezbollah’s leader of three decades, Hassan Nasrallah.

That rebuff followed several other futile diplomatic efforts. In May, after months of unsuccessful attempts to broker a truce between Israel and Gaza, Mr Biden staked considerable political capital during an election year on Mr Netanyahu by declaring that Israel had put forward its own ceasefire proposal for Gaza.

In a detailed presentation from the White House, the US President spoke about how the phased ceasefire would bring an end to the violence. Again, Mr Netanyahu quickly rejected the plan.

On Friday, a reporter asked Mr Biden if he thought he had little influence over Mr Netanyahu.

“No,” the President said. “Look, our teams are in contact 12 hours a day, we are constantly in contact.”

Mr Biden, a self-described Zionist, has suffered politically for his support of Israel, facing anger from Arab and Muslim-American voters and dissent from within his own administration. Mr Netanyahu, a right-wing populist, shares little political common ground with Mr Biden and has appeared perfectly happy to ignore the US President or fob him off with vague promises, such as committing early on to end the war in Gaza by the end of 2023.

Despite this, the US has been reluctant to use its military support to Israel to put pressure on it to scale back attacks in Gaza, where more than 41,700 people have been killed. The toll is mounting in Lebanon too, where at least 2,000 people have been killed since October 8.

“We don't leverage our allies, and if we don't leverage most of our allies there is no way we're going to leverage the Israelis,” Aaron David Miller, a former Middle East analyst at the State Department, told The National.

“The last 12 months have demonstrated with a terrifying clarity the limitations of American power, and not just with Israel, with [Yahya] Sinwar, [Hassan] Nasrallah and Iran.”

Since the beginning of the conflict, the Biden administration has said it hoped to prevent the war in Gaza from spiralling into a regional conflagration. The failure of that stated policy goal is clear to see as Israel attacks Iran-backed targets in Syria, Yemen, Lebanon, Gaza and Iran itself.

Daniel Levy, president of the US-Middle East Project and a former Israeli peace negotiator, said the Biden administration has focused on “holding allies together” rather than looking for ways to navigate out of the current crisis.

“At one stage their preferred outcome was de-escalation, and they went about it in a way that was indeed feckless, amateurish,” Mr Levy told The National.

Secretary of State Antony Blinken has made 10 trips to the Middle East since October 7. Each visit has been marked by some sort of Israeli repudiation and he has typically left the region with tension between Washington and Israel higher than when he arrived.

State Department spokesman Matthew Miller defended US efforts over the last year.

“We don't expect any country in the world to do exactly what the United States thinks is in their best interest,” Mr Miller told reporters. “All we can do is be clear what we think is the right path forward … Independent, sovereign countries get to make their own choices and as I said, they have to live with the consequences of them.”

Thus far, the US has not imposed any real consequences on Israel, save for temporarily halting a shipment of large bombs in May over fears they would be used to kill civilians.

“Through a combination of diplomacy and deterrence, we have been able to calm tensions when they've been threatening to spiral out of control and prevent the outbreak of an all out regional war,” Mr Miller said.

“And now, obviously, is one of those times where, again, at a very fraught moment, we're going to continue to pursue diplomacy and deterrence to try to prevent escalation into that full conflagration.

Israeil Prime Minister Benjamin Netanyahu, right, and Secretary of State Antony Blinken in Jerusalem in August 2024. EPA
Israeil Prime Minister Benjamin Netanyahu, right, and Secretary of State Antony Blinken in Jerusalem in August 2024. EPA
RESULT

Huddersfield Town 1 Manchester City 2
Huddersfield: Otamendi (45' 1 og), van La Parra (red card 90' 6)
Man City: Agüero (47' pen), Sterling (84')

Man of the match: Christopher Schindler (Huddersfield Town)

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

Engine: 3.5-litre V6

Transmission: eight-speed automatic

Power: 290hp

Torque: 340Nm

Price: Dh155,800

On sale: now

The specs: 2018 Maserati GranTurismo/GranCabrio

Price, base Dh485,000 (GranTurismo) and Dh575,000 (GranCabrio)

Engine 4.7L V8

Transmission Six-speed automatic

Power 460hp @ 7,000rpm

Torque 520Nm @ 4,750rpm

Fuel economy, combined 14.3L (GranTurismo) and 14.5L (GranCabrio) / 100km

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

UAE currency: the story behind the money in your pockets
The specs: 2018 Mazda CX-5

Price, base / as tested: Dh89,000 / Dh130,000
Engine: 2.5-litre four-cylinder
Power: 188hp @ 6,000rpm
Torque: 251Nm @ 4,000rpm
Transmission: Six-speed automatic
​​​​​​​Fuel consumption, combined: 7.1L / 100km

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

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

All about the Sevens

Cape Town Sevens on Saturday and Sunday: Pools A – South Africa, Kenya, France, Russia; B – New Zealand, Australia, Spain, United States; C – England, Scotland, Argentina, Uganda; D – Fiji, Samoa, Canada, Wales

HSBC World Sevens Series standing after first leg in Dubai 1 South Africa; 2 New Zealand; 3 England; 4 Fiji; 5 Australia; 6 Samoa; 7 Kenya; 8 Scotland; 9 France; 10 Spain; 11 Argentina; 12 Canada; 13 Wales; 14 Uganda; 15 United States; 16 Russia

Race card

6.30pm: Maiden (TB) Dh 82,500 (Dirt) 1.600m

7.05pm: Maiden (TB) Dh 82,500 (D) 2,000m

7.50pm: Handicap (TB) Dh 82,500 (D) 1,600m

8.15pm: The Garhoud Sprint Listed (TB) Dh 132,500 (D) 1,200m

8.50pm: The Entisar Listed (TB) Dh 132,500 (D) 2,000m

9.25pm: Conditions (TB) Dh 120,000 (D) 1,400m

How to join and use Abu Dhabi’s public libraries

• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.

• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.

• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.

• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.

• For more information visit the library network's website.

Miss Granny

Director: Joyce Bernal

Starring: Sarah Geronimo, James Reid, Xian Lim, Nova Villa

3/5

(Tagalog with Eng/Ar subtitles)

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Sukuk

An Islamic bond structured in a way to generate returns without violating Sharia strictures on prohibition of interest.

Company profile

Date started: Founded in May 2017 and operational since April 2018

Founders: co-founder and chief executive, Doaa Aref; Dr Rasha Rady, co-founder and chief operating officer.

Based: Cairo, Egypt

Sector: Health-tech

Size: 22 employees

Funding: Seed funding 

Investors: Flat6labs, 500 Falcons, three angel investors

Profile Box

Company/date started: 2015

Founder/CEO: Mohammed Toraif

Based: Manama, Bahrain

Sector: Sales, Technology, Conservation

Size: (employees/revenue) 4/ 5,000 downloads

Stage: 1 ($100,000)

Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)

If you go...

Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Updated: October 07, 2024, 6:36 AM