Slovenia presses EU to muster political courage and force Israel’s hand


Mohamad Ali Harisi
  • English
  • Arabic

Last year, Slovenia, a non-permanent member of the UN Security Council, recognised Palestinian statehood and urged other EU countries to follow.

Today, seeing its push bearing fruit on the global stage, it is on another mission: to push EU countries to take concrete steps to pressure Israel into stopping the war in Gaza.

“I wish to see that also on the level of the European Union you find this political courage to act together,” Tanja Fajon, Slovenia’s Minister of Foreign and European Affairs and Deputy Prime Minister, told The National in an interview in New York on the sidelines of the UN General Assembly.

“There is a growing awareness. We have proposals on the table, whether sanctioning radical or extreme ministers of the Israeli government or do more on trade in weapons or with products from the settlements.

"These are measures that Slovenia introduced this summer bilaterally and other countries that are following that path. So there are a group of countries that are working together on a bilateral level, but also I do expect actions that are common European actions."

Ms Fajon, her country’s first female foreign minister, has been one of the fiercest European officials advocating since last year for other European nations to join it in recognising a Palestinian state.

In the past few days more countries did so, including France and the UK, making it four out of five permanent Security Council members that recognise Palestine.

European Commission staff during a protest against Israel's war on Gaza, in Brussels. AP
European Commission staff during a protest against Israel's war on Gaza, in Brussels. AP

“We have to do more,” Ms Fajon said. “It is not enough.”

She said countries should pressure the Israeli government with concrete steps. “It's time to stop. It's time to respect international humanitarian law, the UN Charter, stop the continuation of illegal settlements and annexation in the West Bank, and allow humanitarian assistance,” she said.

“Every country has to act. It's not enough if we are not united in this message that Israel, what the government is doing, is wrong. We see genocidal acts ... So it is really a responsibility of everyone sitting in the United Nations.”

'I'm hopeful'

Ms Fajon was speaking as many European officials started calling for sanctions against Israel and its government, which includes extremist elements rejecting the two-state solution and a ceasefire in Gaza, where more than 65,300 Palestinians have been killed by Israeli fire so far.

There are sanctions on the table as a collective effort, but many think a consensus would be very hard to reach. Despite that, Ms Fajon feels hopeful.

“I'm hopeful because what we see now is with the military action in Gaza, forced displacement of people, people fleeing because they are losing their homes, having no possibilities for decency, for humanity and dignity. So I do expect that we, as the European Union and the international community, do more,” she said.

In January 2024, Slovenia became a non-permanent Security Council member for the second time in its history. After its successful election by a majority of 153 votes, and after three months as an observer, it is participating in decisions during the 2024–2025 term.

Slovenian Foreign Minister Tanja Fajon addresses the High-Level Security Council on Palestinians and Israel during the 80th session of the UN General Assembly. AP
Slovenian Foreign Minister Tanja Fajon addresses the High-Level Security Council on Palestinians and Israel during the 80th session of the UN General Assembly. AP

Three months before the end of its term, many conflicts are still burning, and Ms Fajon feels the need to keep pushing until the very last day to help extinguish them. One of them is the Russia-Ukraine war.

“The Russian aggression in Ukraine is really escalating. We've seen that in the last weeks with more attacks on civilian infrastructure, even on killings of civilians, but also violating the airspace of neighbouring countries and Nato alliance countries,” Ms Fajon said.

While she is hopeful that US President Donald Trump is beginning to shift his position on Ukraine, she called for stronger US-EU co-ordination. “We are in the alliance together, we are in a strategic partnership together, and I think this is very important to have a dialogue, to have a close co-operation,” she said.

“If I speak about tariffs, if I speak about trade wars, these are not useful for anyone, and beneficial for anyone. So I do hope that we will have a lot of things in common that we can build trust or rebuild trust.”

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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

if you go

The flights
Fly direct to Kutaisi with Flydubai from Dh925 return, including taxes. The flight takes 3.5 hours. From there, Svaneti is a four-hour drive. The driving time from Tbilisi is eight hours.
The trip
The cost of the Svaneti trip is US$2,000 (Dh7,345) for 10 days, including food, guiding, accommodation and transfers from and to ­Tbilisi or Kutaisi. This summer the TCT is also offering a 5-day hike in Armenia for $1,200 (Dh4,407) per person. For further information, visit www.transcaucasiantrail.org/en/hike/

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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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Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

The finalists

Player of the Century, 2001-2020: Cristiano Ronaldo (Juventus), Lionel Messi (Barcelona), Mohamed Salah (Liverpool), Ronaldinho

Coach of the Century, 2001-2020: Pep Guardiola (Manchester City), Jose Mourinho (Tottenham Hotspur), Zinedine Zidane (Real Madrid), Sir Alex Ferguson

Club of the Century, 2001-2020: Al Ahly (Egypt), Bayern Munich (Germany), Barcelona (Spain), Real Madrid (Spain)

Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)

Club of the Year: Bayern Munich, Liverpool, Real Madrid

Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)

Agent of the Century, 2001-2020: Giovanni Branchini, Jorge Mendes, Mino Raiola

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The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
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Transmission: 7-speed PDK auto or 6-speed manual
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COMPANY PROFILE

Name: N2 Technology

Founded: 2018

Based: Dubai, UAE

Sector: Startups

Size: 14

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Cultural fiesta

What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421,  Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day. 

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Best Academy: Ajax and Benfica

Best Agent: Jorge Mendes

Best Club : Liverpool   

 Best Coach: Jurgen Klopp (Liverpool)  

 Best Goalkeeper: Alisson Becker

 Best Men’s Player: Cristiano Ronaldo

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Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

Updated: October 22, 2025, 8:10 AM