2021 was a momentous year for the UAE, as we celebrated our Golden Jubilee. As a nation, we are known for our unique way of bringing people together, and we have emerged as a place that is known to convene diverse cultures, ideas and perspectives from around the world. As we look to the next 50 years, we know that the world will become hyper-connected, and the challenges we face as a species will become more complex. Local issues need global attention; indeed, we have quickly come to realise that the actions of people in one place can not only affect people in other places, but across the planet.
Preparing future generations with the knowledge, skills, attitudes and values to tackle various global issues is critical, particularly as we find ourselves living in times where global health, technology and climate change pose complex challenges. Developing global competence – where people are equipped with the mindset to tackle myriad issues, take action for the collective, can communicate across cultures while appreciating different perspectives – is a lifelong journey. Moreover, it is a process that education can undoubtedly help shape.
In essence, global competence frameworks put individual fulfilment and community purpose at its core. The good news is that this sort of competence is already being integrated into curriculums around the globe.
The UAE's National Higher Education Strategy, in place since 2017, has identified education as the key to unlocking professional and personal growth for future generations. This focus is also echoed at the global level. For instance, the Organisation for Economic Co-operation and Development (OECD) – which oversees 38 member countries and does research in more than 100 of them – has identified "a shared purpose for the future" so that today's students can have an engaged educational experience before going on to lead fulfilling lives.
Similarly, a shared purpose in nurturing good human beings is top of the mind, as facets of moral education are embedded in curriculums both in the UAE and in OECD nations. This has been done through the widely known assessment framework called Programme for International Student Assessment – or Pisa.
However, challenges remain. The coronavirus has fundamentally changed the way we live, and this is no different for the field of education. The Covid-19 pandemic has taken learning from classroom and playroom settings to the computer screens, with has raised the pressure on teachers to deliver lessons through technology, and on parents and caregivers to support children in unprecedented ways.
On Saturday, global educators and policymakers will distil high-level strategies into practical solutions
In 2019, at the last Qudwa Forum – an initiative of the Crown Prince Court of Abu Dhabi – we polled teachers about the core focus areas for their profession and their desires for the future. "Motivating students" topped the poll, followed by "student-centred learning" and "building inclusive learning environments for students of determination". Teachers, as we know, represent the most important bridge between a child's education and his or her development.
As we look to the future, the focus of global competence in education is top of the agenda. For those involved in education or education policy, assessments, metrics and Key Performance Indicators are normal, but what do they mean in a classroom setting?
At the upcoming Qudwa-Pisa Forum on Saturday – held in collaboration with OECD and the Belgium-based Bussola Institute – global educators and policymakers will distil these high-level strategies into actionable, practical solutions.
Personally, I believe that discussions about education today are not, and should not, be the concern of educators or policymakers alone. The fact is that the children of today will be the leaders of tomorrow. They will one day be tasked with determining policy, making business decisions and finding solutions for the future. That notion in itself reinforces the need for us to remain invested in what they are being taught today.
How to get exposure to gold
Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.
A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.
Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.
Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.
London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long
However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.
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MATCH RESULT
Liverpool 4 Brighton and Hove Albion 0
Liverpool: Salah (26'), Lovren (40'), Solanke (53'), Robertson (85')
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
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
Match info
Uefa Nations League A Group 4
England 2 (Lingard 78', Kane 85')
Croatia 1 (Kramaric 57')
Man of the match: Harry Kane (England)