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US President Donald Trump met Arab leaders and other heads of state on Tuesday to present what has been described as a “comprehensive plan” on Gaza.
It was not immediately clear if the participants agreed on a road map, but Arab officials and Mr Trump said ending the war in the Palestinian territories was a shared priority.
The meeting was convened at the invitation of the US President and brought together Sheikh Abdullah bin Zayed, Deputy Prime Minister and Minister of Foreign Affairs, Sheikh Tamim, Emir of Qatar, Jordan's King Abdullah II, Turkish President Recep Tayyip Erdogan, Indonesia's President Prabowo Subianto, Prime Minister of Pakistan Shehbaz Sharif, Egyptian Prime Minister Mostafa Madbouly and Saudi Foreign Minister Prince Faisal bin Farhan.
“We’re going to work very hard on this. This is going to be my most important meeting,” Mr Trump said at the start of the meeting, adding that the leaders present were “the ones that can do it”.
He said the talks were pivotal, because “we’re going to end something that should have probably never started”.
Qatar’s Emir Sheikh Tamim urged him to use his leadership to end the war in Gaza.
“The only reason we are here is to stop the war and bring the hostages back. And we count on you and your leadership to end this war and to help the people of Gaza. The situation is very, very bad there,” he told Mr Trump.
“So we are here to meet and to do everything we can to stop this war and to bring the hostages back.”
The UAE Ministry of Foreign Affairs said in a statement that the discussions focused on “ending the ongoing bloody war in Gaza, reaching a sustainable and lasting ceasefire, securing the release of all hostages and detainees, and taking decisive steps towards addressing the worsening humanitarian crisis facing civilians in the Gaza Strip”.
During the meeting, Sheikh Abdullah commended President Trump's efforts to end the conflict, prevent further loss of life, alleviate the humanitarian tragedy in Gaza and secure the release of all hostages and detainees.
He reaffirmed the UAE’s “unwavering support for these efforts and for all initiatives that contribute to ending the Palestinian-Israeli conflict and achieving a peaceful settlement that ensures lasting peace and stability for the Palestinian and Israeli peoples, as well as for the wider region”, according to the statement.
Sheikh Abdullah also underscored the “importance of avoiding unilateral measures that undermine international efforts to realise the two-state solution and establish an independent Palestinian state”.
He further emphasised the need to “counter extremism and terrorism in all its forms, uphold the rule of law, and promote the values of tolerance, coexistence, and human fraternity across the region in a way that ensures the aspirations of its peoples for security, stability, prosperity, and sustainable development”.
Road map
Diplomats said the talks would focus on Gaza, with Mr Trump proposing a deal to end the conflict, tied to a development project when the war ends.
Washington has been discussing support for its plan with Qatar, Egypt and other Arab states. It would mean Hamas disarming, the release of hostages and Gaza governed by technocrats.
Although the final outline remains unclear, sources said Mr Trump wanted to float the idea of emptying parts of Gaza of its residents, with the promise they could return later. The National could not independently confirm this from US officials.
The talks follow a separate proposal advanced by former UK prime minister Tony Blair, centred on the creation of a Gaza International Transitional Authority to govern the strip for a limited period.
Mr Blair presented the idea to Mr Trump during a White House meeting in July, and British officials have promoted it as a possible draft framework at this week’s UN General Assembly. It remains uncertain if this is the plan Mr Trump wanted to present on Tuesday.
For months, international diplomats have worked with regional powers in the “Arab Quint” format – Egypt, Jordan, Qatar, Saudi Arabia and the UAE – to forge a consensus on postwar governance, recovery and reconstruction. All parties in that grouping insist Hamas cannot play any role in a future Palestinian state.
Europeans are pushing for Hamas to be disarmed by Palestinian security authorities in a similar fashion to neighbouring Lebanon, where the Lebanese army has established a road map to work towards disarming regional militia Hezbollah. In the longer term, the hope is that a security mission similar to Nato's mission in Iraq will be posted in Gaza.
Momentum has also been building on Palestinian recognition. After French President Emmanuel Macron’s diplomatic push, Monaco and Denmark joined at the last minute, while Britain, Canada, Australia and Portugal announced recognition on Sunday. On Monday, they were joined by Belgium, Malta, Luxembourg, San Marino and Andorra.
Although most of the world already recognises Palestine, major western states have long resisted. France and the UK’s decisions carry particular weight as permanent members of the UN Security Council.
Israel has reacted angrily, denouncing recognition as a “gift to Hamas”. The US has backed Israel’s stance and denied visas to Palestinian leaders, including President Mahmoud Abbas. Addressing the UN by video link, Mr Abbas called for a permanent ceasefire in Gaza and urged international backing for a reconstruction plan led by his Palestinian Authority.
Earlier this year, Mr Trump presented a plan in Washington alongside Israeli Prime Minister Benjamin Netanyahu that called for redeveloping Gaza and removing more than two million Palestinians – an idea that caused widespread outrage in the Arab world. Mr Netanyahu praised it as “revolutionary”.
A separate meeting on Tuesday brought together European and Arab officials to discuss the “day after” in Gaza, including ways of ending the war and sending international troops to the strip.
Meanwhile, the UN Security Council met to discuss Gaza, where Israel’s offensive has killed more than 65,300 Palestinians amid Israeli refusal to stop what has been described by UN investigators as genocide, before Hamas releases all the hostages.
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
Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
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Political flags or banners
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Bikes, skateboards or scooters
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The specs: 2019 Mercedes-Benz C200 Coupe
Price, base: Dh201,153
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Nine-speed automatic
Power: 204hp @ 5,800rpm
Torque: 300Nm @ 1,600rpm
Fuel economy, combined: 6.7L / 100km
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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
The specs
The specs: 2019 Audi Q8
Price, base: Dh315,000
Engine: 3.0-litre turbocharged V6
Gearbox: Eight-speed automatic
Power: 340hp @ 3,500rpm
Torque: 500Nm @ 2,250rpm
Fuel economy, combined: 6.7L / 100km
Zimbabwe v UAE, ODI series
All matches at the Harare Sports Club
- 1st ODI, Wednesday, April 10
- 2nd ODI, Friday, April 12
- 3rd ODI, Sunday, April 14
- 4th ODI, Sunday, April 16
Squads:
- UAE: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
- Zimbabwe: Peter Moor (captain), Solomon Mire, Brian Chari, Regis Chakabva, Sean Williams, Timycen Maruma, Sikandar Raza, Donald Tiripano, Kyle Jarvis, Tendai Chatara, Chris Mpofu, Craig Ervine, Brandon Mavuta, Ainsley Ndlovu, Tony Munyonga, Elton Chigumbura
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
The specs
Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)
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ELECTION%20RESULTS
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The low down
Producers: Uniglobe Entertainment & Vision Films
Director: Namrata Singh Gujral
Cast: Rajkummar Rao, Nargis Fakhri, Bo Derek, Candy Clark
Rating: 2/5
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
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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