• US President Donald Trump warned Iran not to build up its nuclear programme, as he welcomed Israeli Prime Minister Benjamin Netanyahu for talks in Florida. Mr Netanyahu's visit also comes at another critical moment in Gaza as Mr Trump looks for momentum in the US-brokered Israel-Hamas ceasefire that is in danger of stalling before reaching the complicated second phase of the agreement.
  • Somalia accused Israel of undermining stability in the Horn of Africa by recognising the breakaway region of Somaliland as an independent nation. Abukar Osman, Somalia’s ambassador to the UN, told the Security Council that the “act of aggression” was aimed at encouraging the fragmentation of his country.
  • Iraq's parliament elected politician Haibat Al Halbousi as Speaker during its first session. Mr Al Halbousi received 208 votes, while two other candidates for the post, Salem Al Issawi and Amer Abdul Jaber, received 66 and nine votes respectively, the Iraqi News Agency said. There were 26 invalid ballots, and 20 legislators did not attend the session.
  • Iran's central bank governor resigned on Monday, state TV reported, as protests erupted in Tehran and several other cities after the country’s currency plummeted to a record low against the US dollar.
  • Egypt’s Foreign Minister Badr Abdelatty has said his country “will not allow any new dams to be built on the Nile” unless agreed to in advance and carried out under international law, marking Cairo’s firmest position in years on the water dispute with Ethiopia.
  • The Saudi-led coalition in Yemen announced on Tuesday a “limited military operation” against weapons and combat vehicles belonging to the Southern Transitional Council (STC).
  • Syrian President Ahmad Al Shara and central bank governor Abdulkader Husrieh unveiled the country’s new currency, which will be introduced gradually from January 1.

  • Three Turkish police officers ‌were killed ​in a clash ‌with ‍suspected ISIS militants in north-western Turkey. Six militants were ⁠killed ​in ‍the operation, Interior ⁠Minister ‌Ali ⁠Yerlikaya ⁠said.
  • Hamas confirmed ⁠the death of ​its armed wing ‌spokesman, Abu ​Obeida, months after Israel announced he had been killed in an air strike in Gaza. Israel had said it killed him in a strike on Al Rimal neighbourhood of Gaza city on August 30.
  • Syrian Foreign Minister Asaad Al Shaibani received Maj. Gen. Patrick Gauchat, head of the United Nations Truce Supervision Organisation (UNTSO) mission, in Damascus. During the meeting, both sides underscored the role of the UNTSO mission in documenting Israeli violations in southern Syria and discussed ways to enhance existing co-operation, according to Syrian state media.
  • Iran’s military has warned of “costly retaliation” against any attempt to threaten its national security. In a statement carried by state media, Iran's military said it remained on full alert and would not tolerate any “miscalculation” by its adversaries.
  • Syrian authorities said that security deployments in the country’s coastal region were aimed at “restoring calm”, but critics have accused these forces of suppressing anti-government demonstrations.

More goings-on


  • The Bank of Palestine has received in-principle approval for a full banking licence from Abu Dhabi’s financial hub, the ADGM, as it seeks to expand globally to serve the Palestinian diaspora.
  • Lebanon signed a preliminary agreement with Egypt to import natural gas to ease electricity shortages and reduce its reliance on high-cost fuel oil imports.
  • Bahrain plans to introduce new fiscal reforms aimed at bolstering public finances, with measures ranging from increasing fuel prices to establishing a corporate income tax law.
  • Freed Egyptian activist Alaa Abd El Fattah, who flew to Britain last week, has apologised “unequivocally” for past social media posts, but said they had been used to question his “integrity and values”.

  • Netanyahu meets US officials in Florida to discuss Gaza and Iran





This newsletter was compiled by Mohamad Ali Harisi, Foreign Editor.

The National produces a variety of newsletters across an array of subjects. To get the best of our coverage straight to your inbox, sign up to them here.


COMPANY%20PROFILE
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WITHIN%20SAND
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The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet

Voices: How A Great Singer Can Change Your Life
Nick Coleman
Jonathan Cape

THE SPECS

Engine: Four-cylinder 2.5-litre

Transmission: Seven-speed auto

Power: 165hp

Torque: 241Nm

Price: Dh99,900 to Dh134,000

On sale: now

 


 

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

Need to know

Unlike other mobile wallets and payment apps, a unique feature of eWallet is that there is no need to have a bank account, credit or debit card to do digital payments.

Customers only need a valid Emirates ID and a working UAE mobile number to register for eWallet account.

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX
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Omar Yabroudi's factfile

Born: October 20, 1989, Sharjah

Education: Bachelor of Science and Football, Liverpool John Moores University

2010: Accrington Stanley FC, internship

2010-2012: Crystal Palace, performance analyst with U-18 academy

2012-2015: Barnet FC, first-team performance analyst/head of recruitment

2015-2017: Nottingham Forest, head of recruitment

2018-present: Crystal Palace, player recruitment manager

 

 

 

 

Essentials

The flights
Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
The tours
Superb ape-watching tours that take in all three gorilla countries mentioned above are run by Natural World Safaris. In September, the company will be operating a unique Ugandan ape safari guided by well-known primatologist Ben Garrod.
In the Democratic Republic of Congo, local operator Kivu Travel can organise pretty much any kind of safari throughout the Virunga National Park and elsewhere in eastern Congo.

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

The Florida Project

Director: Sean Baker

Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe

Four stars

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

HOW TO WATCH

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