When the UAE observes Union Day today, it will be celebrating an unusual success story in the world. The UAE’s population is just under 10 million of which 12 per cent are Emiratis, but its impact on global affairs and its contribution to overall human accomplishment exceeds that of many larger countries.
Starting out as a union of seven relatively less-known emirates in the Arabian desert 52 years ago, the UAE is now one of the world’s leaders in cutting-edge technology. It is the first Arab and Muslim country to launch a mission to Mars. It ranks 10th in the 2023 Global Competitiveness Report by the World Economic Forum, which assesses the economic capacity of countries to compete globally.
The UAE also occupies first position in the 2023 Global Passport Power Rank Index and is one of the top 10 donor states providing official development aid to those living in less fortunate circumstances. Its achievements are not just because of its oil wealth but the outcome of sensible policy choices by a succession of leaders committed to the vision of building a nation that is Muslim, modern and moderate.
At the time of its independence, the UAE’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, made two critical decisions that put the country on the path to success. The first was to eschew political Islam and ensure that maintaining tradition would not come at the cost of embracing contemporary ideas. The second was to embrace a positive nationalism, based on shared aspirations, instead of the negative nationalism chosen by many post-colonial states, based on antagonism towards an enemy or adversary.
It is not the case that the UAE did not have territorial disputes with other countries. But Sheikh Zayed, and his sons, the late president Sheikh Khalifa and President Sheikh Mohamed, did not allow these disputes to obstruct pragmatic decision-making.
Over the decades, the UAE has built a reputation as a country that values talent
The UAE invested its oil wealth in its people by building world-class infrastructure, healthcare facilities and educational institutions. Education was a key priority from the beginning, as Sheikh Zayed considered it to be the way forward for creating an inclusive and prosperous society. In 1975, adult literacy stood at 58 per cent among men and 38 per cent among women. Today, literacy rates for both genders stand at 95 per cent.
The UAE’s investment in education and openness to learning and competing in the global marketplace has led to some of the world’s best universities establishing programmes and campuses in the country. As a result, a population that lived in palm-frond houses transformed into a highly educated and skilled population within a generation, working alongside large numbers of expatriates. The presence of citizens of 190 countries helped create a cosmopolitan outlook among Emiratis, in addition to helping the UAE draw on global talent in its own development.
Over the decades, the UAE has built a reputation as a country that values talent and has ended up attracting the world’s most skilled individuals, innovators and creative minds. About $44 billion in remittances annually are sent from the UAE to countries around the world, primarily in the Global South.
The top five recipient countries for remittances from the UAE in 2021 included India, Egypt, Pakistan, Bangladesh and the Philippines, with India receiving half of these annual remittances. These remittances are critical to the economies of these countries. As a Mastercard survey in 2022 showed, 51 per cent of UAE residents who sent money to family and friends believe they would have struggled financially without their support.
As an oil-producing country, the UAE recognised its responsibility in embracing sustainability and environmentally friendly energy policies earlier than many others. It is currently chairing the UN Climate Change Conference or Conference of the Parties of the UNFCCC, commonly referred to as Cop28, in Dubai.
The UAE has also become a global financial hub. According to the 2023 World Investment Report of the UN Conference on Trade and Development, foreign direct investment inflows to the country in 2022 crossed $23 billion. The UAE manages extensive investments abroad, totalling more than $1 trillion through multiple sovereign wealth funds, as well as through several emirate-level, government-related investment corporations.
It is, among Muslim-majority countries, one of the earliest investors in innovation, entrepreneurship and technology. Vision 2021, National Advanced Sciences Agenda 2031 and Open Labs are policies launched by the UAE to support research and innovation in science and technology.
The UAE, like any other country, has its critics. But few would deny that it has become a model for religious inclusion in the region. Since 1971, the UAE government has demonstrated its commitment to inclusion, implementing laws that protect religious freedom and programmes that foster interfaith understanding. It is home to 40 churches and 700 ministries. In 2019, the UAE partnered with Unesco to restore Christian churches in Iraq destroyed by ISIS.
Two Hindu temples now operate in Dubai, and several cremation facilities in Abu Dhabi, Dubai and Sharjah provide Hindu burial rites. The UAE’s first Sikh temple opened in Dubai in 2012 and the country is also home to Parsis, Bahais and Druze communities. The UAE’s economic success, technological ambitions, and its growing international influence are largely the outcome of the culture of tolerance fostered by its leaders and their preference for pragmatism over hardline ideologies.
Zayed Sustainability Prize
Company%20profile
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MIDWAY
Produced: Lionsgate Films, Shanghai Ryui Entertainment, Street Light Entertainment
Directed: Roland Emmerich
Cast: Ed Skrein, Woody Harrelson, Dennis Quaid, Aaron Eckhart, Luke Evans, Nick Jonas, Mandy Moore, Darren Criss
Rating: 3.5/5 stars
More from Rashmee Roshan Lall
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
Juliot Vinolia’s checklist for adopting alternate-day fasting
- Don’t do it more than once in three days
- Don’t go under 700 calories on fasting days
- Ensure there is sufficient water intake, as the body can go in dehydration mode
- Ensure there is enough roughage (fibre) in the food on fasting days as well
- Do not binge on processed or fatty foods on non-fasting days
- Complement fasting with plant-based foods, fruits, vegetables, seafood. Cut out processed meats and processed carbohydrates
- Manage your sleep
- People with existing gastric or mental health issues should avoid fasting
- Do not fast for prolonged periods without supervision by a qualified expert
FIXTURES
Thu Mar 15 – West Indies v Afghanistan, UAE v Scotland
Fri Mar 16 – Ireland v Zimbabwe
Sun Mar 18 – Ireland v Scotland
Mon Mar 19 – West Indies v Zimbabwe
Tue Mar 20 – UAE v Afghanistan
Wed Mar 21 – West Indies v Scotland
Thu Mar 22 – UAE v Zimbabwe
Fri Mar 23 – Ireland v Afghanistan
The top two teams qualify for the World Cup
Classification matches
The top-placed side out of Papua New Guinea, Hong Kong or Nepal will be granted one-day international status. UAE and Scotland have already won ODI status, having qualified for the Super Six.
Thu Mar 15 – Netherlands v Hong Kong, PNG v Nepal
Sat Mar 17 – 7th-8th place playoff, 9th-10th place playoff
The%20stats%20and%20facts
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Easter%20Sunday
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Killing of Qassem Suleimani
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
SRI LANKS ODI SQUAD
Perera (capt), Mendis, Gunathilaka, de Silva, Nissanka, Shanaka, Bandara, Hasaranga, Udana, Dananjaya, Dickwella, Chameera, Mendis, Fernando, Sandakan, Karunaratne, Fernando, Fernando.
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Credits
Produced by: Colour Yellow Productions and Eros Now
Director: Mudassar Aziz
Cast: Sonakshi Sinha, Jimmy Sheirgill, Jassi Gill, Piyush Mishra, Diana Penty, Aparshakti Khurrana
Star rating: 2.5/5
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket