The essence of the task of a diplomat is to build bridges between countries and peoples. I found, upon my arrival in the UAE in January this year, that Filipinos have been successfully undertaking this task long before the first Filipino diplomat ever set foot in the Emirates.
I say this as we mark the 49th anniversary of the establishment of diplomatic relations between the Philippines and the UAE. Immediately after the Founding Father Sheikh Zayed brought together the emirates into the UAE we know today, Filipinos were part of the first group of expatriates that came to the country to help build its foundations. They were among the first to come to the UAE to build the bridges and buildings of this young nation. Those Filipinos founded and cemented the strong ties between our two countries, which have endured to this day.
The work that I and eight previous ambassadors before me have been doing is firmly founded on that friendship and solidarity. Today, we take great pride in the fact that thousands of Filipinos reside in the UAE, and are held in high esteem in the business, medical, construction and creative sectors. In whatever field they may be, whichever position they may hold, Filipinos are always held in high regard, respected for their skill and professionalism, having found their place, and success, in the UAE.
On many occasions, the UAE leadership, led by President Sheikh Mohamed, and Sheikh Mohammed bin Rashid, Prime Minister and Vice President, have expressed the UAE’s high regard for Filipinos. Sheikh Mohamed has honoured frontline Filipino medics who served in the fight against Covid-19, calling them personally, checking on their conditions, and assuring them of his support. Likewise, when I presented my credentials to Sheikh Mohammed, and met other high-level officials, they repeatedly and unequivocally raised the contributions of the Filipino people to UAE’s economy and social fabric.
This recognition has generated considerable goodwill. One example is in the way the UAE, through the Emirates Red Crescent, provided humanitarian support to the Philippines in many instances, such as Typhoon Haiyan in 2013, the eruption of the Taal volcano in 2020 and the provision of equipment and medical aid at the height of the Covid-19 pandemic.
A little over two months ago, during the Philippine’s National Day celebrations, the UAE sent 50 tonnes of relief goods, food and medicine for the impending eruption of Mayon volcano. What is significant about this gesture is that even before the need arose, the UAE already made provisions. Philippine President Ferdinand Marcos Jr, thanked Sheikh Mohamed in a letter and they also spoke on the phone, further discussing ways forward. It was also during this phone call that Mr Marcos accepted Sheikh Mohamed’s invitation to attend the Cop28 environmental summit that the UAE will host this year.
On labour, which has long been the primary basis of our strong relations, in 2021 we broke new ground with the third Joint Committee Meeting on Bilateral Labour Co-operation. More recently, I had a meeting with Ministry of Human Resources and Emiratisation where the UAE indicated strongly that it needs more Filipino workers across a wide range of sectors. A bilateral agreement on combatting human trafficking was signed in September 2019, and a deal on consular co-operation was signed in April 2021 – both are important agreements that ensure mechanisms are in place to protect the rights and welfare of Filipinos in the UAE.
On the back of this solid foundation, many Filipinos in the UAE have built on the opportunities given to them, and made the transition from employee to entrepreneur, becoming business owners through sheer determination, hard work and faith. I have come across many such success stories and had the privilege of meeting several them. They are truly remarkable and an inspiration to all.
What will surprise most people is that in the past 15 months alone, we signed three important agreements between our two countries on space co-operation, on agriculture and on investment promotion and protection. The two countries are also finalising an MoU that will bolster co-operation in a number of areas, including artificial intelligence. Agreements on defence, culture and free trade are in the works. Truly, these areas of co-operation have expanded in a manner that the Filipino diplomats of the early years could only have imagined.
The coming visit of Mr Marcos for Cop28 further opens opportunities for sustainable development co-operation, and we are hoping that an agreement on climate change co-operation which the Philippines is proposing to the UAE, as well as the Framework Agreement on Renewable Energy, will be signed during this visit. The Philippines, counted as among the countries most vulnerable to climate change, can benefit from the UAE’s expertise and resources, in terms of renewable energy. Likewise, the Emirates’ moves towards a knowledge-based economy will need a young workforce adept in science, technology and AI – something that the Philippines can provide.
At the end of the day, there is one driving force as to why the Philippines and the UAE are working together: this is to forge a partnership that will enable each country to prepare a bright future for the next generation of Filipinos and Emiratis.
As we look forward to the golden anniversary of UAE-Philippines relations next year, I, on behalf of the Filipino community in the Emirates, take this opportunity to thank the UAE leadership for recognising the efforts and contributions of Filipinos towards the growth and development of the country’s economy and society. It is our hope that moving forward, the partnership between the Philippines and the UAE will grow even deeper and more meaningful.
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The specs
Price: From Dh529,000
Engine: 5-litre V8
Transmission: Eight-speed auto
Power: 520hp
Torque: 625Nm
Fuel economy, combined: 12.8L/100km
The years Ramadan fell in May
RESULT
Esperance de Tunis 1 Guadalajara 1
(Esperance won 6-5 on penalties)
Esperance: Belaili 38’
Guadalajara: Sandoval 5’
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
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
States of Passion by Nihad Sirees,
Pushkin Press
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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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Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
French Touch
Carla Bruni
(Verve)
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
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T20 World Cup Qualifier, Muscat
UAE FIXTURES
Friday February 18: v Ireland
Saturday February 19: v Germany
Monday February 21: v Philippines
Tuesday February 22: semi-finals
Thursday February 24: final
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
Super Rugby play-offs
Quarter-finals
- Hurricanes 35, ACT 16
- Crusaders 17, Highlanders 0
- Lions 23, Sharks 21
- Chiefs 17, Stormers 11
Semi-finals
Saturday, July 29
- Crusaders v Chiefs, 12.35pm (UAE)
- Lions v Hurricanes, 4.30pm
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
Profile of Tarabut Gateway
Founder: Abdulla Almoayed
Based: UAE
Founded: 2017
Number of employees: 35
Sector: FinTech
Raised: $13 million
Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment.
