Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, with Indian Prime Minister Narendra Modi at Hyderabad House in New Delhi during a previous official visit. Adnan Abidi / Reuters
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, with Indian Prime Minister Narendra Modi at Hyderabad House in New Delhi during a previous official visit. Adnan Abidi / Reuters
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, with Indian Prime Minister Narendra Modi at Hyderabad House in New Delhi during a previous officia
As we look back on 2021 and forward through 2022, it is clear that our two nations are at a historic inflection point. The UAE is celebrating its 50th anniversary and has laid out its vision for the next 50 years of growth. India is also celebrating “Azadi Ka Amrit Mahotsav”, a government initiative to commemorate the 75th anniversary of its independence, and is marching ahead on its long-term development journey with renewed vigour and enthusiasm.
Not long ago in 2017, a historic decision was taken by the leaders of our two countries to elevate our relationship into a Comprehensive Strategic Partnership. Since then, our time-tested relationship, rooted in a similar outlook, a deep affinity and enduring understanding, has blossomed into a strong and multi-faceted bilateral co-operation, positively affecting the lives of millions of our peoples.
This special relationship continues to evolve and adapt to the challenges of a complex and uncertain world, particularly in the wake of the Covid-19 pandemic. The fortitude and resilience of our nations, and more importantly the depth of our friendship, has shone through in the face of adversity. We have worked together to promote peace, harmony, co-existence and prosperity for all communities. Our resolute focus has been on making progress for our peoples and the wider world through efficient utilisation of trade, technology, talent and tourism. An example is the UAE’s successful hosting of Expo 2020 Dubai despite the pandemic, with India playing its role with an inspirational pavilion that has captured the national spirit and captivated visitors.
Today, our strategic partnership is on the verge of a paradigm shift. As we explore the multitude of possibilities for collaborative growth and development in a post-Covid-19 era, we, once again, have a shared vision to take our partnership to the next level. Our shared vision will forge a partnership that is future-ready, with a special focus on co-operation in newer and emerging areas such as sustainability, climate action, innovation, digitalisation, startups, food and energy security, health, FinTech and skilling.
Just five months ago, we came together with a shared sense of hope and optimism for the historic task: commencing talks on a Comprehensive Economic Partnership Agreement (CEPA) that would not just create enormous opportunities for trade, commerce and investments but also contribute to a sustained global recovery at a tough – but potentially transformative – time.
The mutual desire for progress and an unwavering commitment to deliver far-reaching benefits to people in both countries ran deep on both sides. This joint sense of purpose inspired the trajectory of talks, which progressed at an exceptionally quick pace even against the challenges of the prevailing pandemic. Today, the agreement stands signed, sealed and delivered. The stage is set for a new era of prosperity and strategic co-operation between the UAE and India that will take both nations to a new level.
The direct rewards are clear for both nations. Bilateral trade will grow to $100 billion in five years, twice the pre-pandemic level. Enhanced market access will benefit all stakeholders, including exporters, importers and consumers alike; essential, high-skilled professionals will enjoy greater flexibility; and hundreds of thousands of new employment opportunities will be created for the benefit of the people of our two countries.
Piyush Goyal, India's Minister of Commerce and Industry, gestures as Abdulla bin Touq Al Marri, the UAE's Minister of Economy, looks on during their joint news conference in New Delhi on Friday. Reuters
Indian businesses will gain improved market access in many product lines, particularly in labour-intensive sectors such as gems and jewellery, textiles, leather, footwear, plastics, agricultural products, engineering goods and pharmaceuticals. On the other hand, exporters from the UAE will gain enhanced access to India’s large market especially for products such as petroleum, metals, minerals, chemicals and petrochemicals. Downstream industries in India such as plastics, gems and jewellery will in turn derive benefits from lower-priced inputs.
Our growing bilateral trade will play an integral role in the UAE’s efforts to double the size of its economy by 2030
Our people have enjoyed centuries of seamless movement between our two countries. This CEPA will enable India’s professionals to find enhanced opportunities in the UAE and shine on the global stage. Both sides will also benefit from UAE’s location as a strategic gateway to the Middle East, Africa, Europe and other regions. All forms of capital – financial, technological and human – will flow in both directions with a new and more efficient framework. India’s focus on public capital investment helping to bring in private investment – as reflected in its latest budget – should provide good opportunities for UAE investments to benefit from India’s growth.
Micro, small and medium-sized enterprises will also find it easier to go global. India and the UAE have attractive, competitive and complementary startup ecosystems, and a golden era of entrepreneurship is emerging from various states/cities of India, including Bangalore, Mumbai, New Delhi, to business hubs in the UAE such as Abu Dhabi and Dubai. Our CEPA offers startups access to new customers, networks and opportunities, and provides improved mechanisms as launchpads to scale at speed.
Our two countries share a very close relationship in the energy sector. We remain committed to a timely, equitable and just energy transition for a cleaner and greener future. Our relationship in the petroleum and natural gas sector is unique with mutual investments in both countries. The UAE is also the only country to participate in India’s strategic petroleum reserves.
We are both pursuing dynamic new trade and investment policies. India hopes to see its exports exceed $400bn in 2022. Our growing bilateral trade will play an integral role in the UAE’s efforts to double the size of its economy by 2030. The destinies of the UAE and India have been inextricably intertwined for centuries. A closer collaboration, anchored in friendship, trust and the spirit of entrepreneurship, will create limitless opportunities for our economies, for our industries, our cities and our people – now and for generations to come. This is the vision that we aspire to.
Dr Thani bin Ahmed Al Zeyoudi is the UAE’s Minister of State for Foreign Trade. Piyush Goyal is India's Minister of Commerce and Industry
This is how many recognised sects Lebanon is home to, along with about four million citizens
450,000
More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps
1.5 million
There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m
73
The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association
18,000
The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme
77,400
The number of people believed to be affected by the current nationality law, according to the 2009 UN study
4,926
This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee
Start times
5.55am: Wheelchair Marathon Elites
6am: Marathon Elites
7am: Marathon Masses
9am: 10Km Road Race
11am: 4Km Fun Run
Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
Sarfraz Ahmed (c), Fakhar Zaman, Imam-ul-Haq, Abid Ali, Babar Azam, Haris Sohail, Shoaib Malik, Mohammad Hafeez(subject to fitness), Imad Wasim, Shadab Khan, Hasan Ali, Faheem Ashraf, Junaid Khan, Shaheen Shah Afridi, Mohammad Hasnain
Two additions for England ODIs: Mohammad Amir and Asif Ali
There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
Uefa Champions League semi-final, second leg result:
Ajax 2-3 Tottenham
Tottenham advance on away goals rule after tie ends 3-3 on aggregate
Final: June 1, Madrid
INDIA V SOUTH AFRICA
First Test: October 2-6, at Visakhapatnam
Second Test: October 10-14, at Maharashtra
Third Test: October 19-23, at Ranchi
Favourite things
Luxury: Enjoys window shopping for high-end bags and jewellery
Discount: She works in luxury retail, but is careful about spending, waits for sales, festivals and only buys on discount
University: The only person in her family to go to college, Jiang secured a bachelor’s degree in business management in China
Masters: Studying part-time for a master’s degree in international business marketing in Dubai
Vacation: Heads back home to see family in China
Community work: Member of the Chinese Business Women’s Association of the UAE to encourage other women entrepreneurs
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
The biog
Profession: Senior sports presenter and producer
Marital status: Single
Favourite book: Al Nabi by Jibran Khalil Jibran
Favourite food: Italian and Lebanese food
Favourite football player: Cristiano Ronaldo
Languages: Arabic, French, English, Portuguese and some Spanish
In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.
Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.
A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.
The Emirates is the world’s third largest per capita water consumer after the US and Canada.
