Lebanese President Joseph Aoun’s inauguration speech in Parliament on Thursday drew 30 rounds of applause in just 19 minutes. This was in part due to the newly elected head of state’s precise commitments to reviving the concept of the Lebanese state. His speech also presented a roadmap that reflects his political awareness and pragmatic determination to establish state authority.
Mr Aoun is neither a chance President nor simply a product of compromises among Lebanese leaders driven by local horse trading. He is the President of a new reality, shaped by regional and international developments in Lebanon and Syria, with far-reaching implications involving Iran, the Arab states, the US and even Israel.
His mission is far from impossible.
His election, for the first time since Lebanon’s independence, occurred through a democratic process free from the dominance of Israel or Syria and without Iranian hegemony. His presidency signifies Lebanon’s return to the Arab fold and Saudi Arabia’s re-engagement with the country.
This re-engagement is rooted in the Arab world’s confidence in Mr Aoun’s capacity to implement the Taif Agreement. The deal, which brought an end to the 15-year civil war in Lebanon in late 1989, was sponsored by Saudi Arabia before it was undermined by Iran and Syria.
In truth, the unique partnership between US President Joe Biden and president-elect Donald Trump on the Beirut file played a fundamental role in delivering Lebanon from an Israeli war that took aim at the country’s infrastructure.
The Biden administration waited for Israel to complete its campaign to neutralise Hezbollah, enabling it to achieve its strategic objectives against Iran and its strongest proxy. Mr Biden’s subsequent move, with Mr Trump’s assistance, was to pressure Israel to agree to a ceasefire, with an aim to facilitate the implementation of UN Security Council Resolution 1701 under US guarantees and create a roadmap for demarcating the Lebanese-Israeli land border within months.
Saudi Arabia’s diplomacy for a 'new Lebanon' seeks to revitalise the Taif Agreement
Parliamentary Speaker Nabih Berri and caretaker Prime Minister Najib Mikati played crucial roles in saving Lebanon from total destruction at Israel’s hands. They understood that the Biden-Trump tandem provided a rare opportunity to shield Lebanon and launch a new chapter under previously unimaginable circumstances.
When the time came to elect a president under American pressure, Mr Berri recognised the sole viable option, aligning with the strategic vision of US policymakers, who also understood the value of Arab powers’ active return to Lebanon.
Mr Berri, an astute observer of strategic shifts, also saw the necessity of Lebanon’s return to its Arab identity, especially for the reconstruction of the Israeli-ravaged south.
The end of Iran’s domination in Lebanon marks a monumental event, not a passing development.
Hezbollah’s diminished capability in Lebanon and the wider region, despite its ongoing rhetorical defiance, is self-evident. The collapse of Bashar Al Assad’s government in just two weeks has irreversibly ended Syria’s guardianship over Lebanon. These developments have made the Arab powers’ return to Lebanon, diplomatically and politically, both natural and necessary, while aligning with new regional power dynamics.
Saudi Arabia’s diplomacy for a “new Lebanon” seeks to revitalise the “skeleton” that the Saudi-sponsored Taif Agreement has become, as one informed source put it. This includes restoring Lebanese sovereignty, respecting constitutional principles, implementing administrative decentralisation and ensuring state monopoly over arms by disarming non-state actors, leaving security solely in the hands of official agencies.
These critical elements were articulated in Mr Aoun’s historic speech, representing a formal commitment to implementing the Taif Agreement, consistent with the full execution of Resolution 1701.
Mr Aoun intends to be firm with Israel in implementing the ceasefire agreement details and resolving outstanding issues, leading to Israel’s eventual full withdrawal from Lebanese territories followed by a border demarcation. The issue regarding the occupied Shebaa Farms, meanwhile, hinges on Syria’s recognition of the disputed area’s Lebanese ownership. If the new government in Damascus clarifies its stance, Israel will be required – in principle – to withdraw from the area.
Mr Aoun aims to normalise bilateral relations with Syria on equal footing, free from subjugation, while ensuring Lebanon’s sovereign decision-making ability. Demarcating borders between the two countries is also an important objective for the presidency.
Mr Mikati’s recent visits to Turkey and Syria prove that Beirut has grasped the significance of this issue and the pivotal Turkish role in achieving it. Ankara, which is likely to have plenty of influence in the power corridors of Damascus, has reportedly pledged support in this regard.
Syria’s transitional administration, represented by Ahmad Al Shara, appears to be pragmatic in its regional relationships. While Turkey remains his primary partner, Mr Al Shara has emphasised the importance of an organic connection with Saudi Arabia and the Arab world.
Riyadh is leading Arab efforts in playing an active role in the Levant, seeking stability in Syria and Lebanon through co-operation with other stakeholders such as Turkey, and pragmatic co-ordination with the US and concerned European states, while respecting sovereign decisions.
Saudi Arabia’s intentions are not to provoke Iran but to foster stability in the Arab Levant, which has been fragmented by Tehran’s expansionist, ideological pursuits and its proxies. The geopolitical shifts have prompted Riyadh to work towards drawing the weakened Arab countries back to the Arab fold through diplomacy, development and reconstruction.
This will involve an inclusive approach that aims to mend the Arab fabric in the Levant, which has suffered deeply under Iranian dominance.
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UAE currency: the story behind the money in your pockets
Profile Idealz
Company: Idealz
Founded: January 2018
Based: Dubai
Sector: E-commerce
Size: (employees): 22
Investors: Co-founders and Venture Partners (9 per cent)
The biog
Favourite hobby: I love to sing but I don’t get to sing as much nowadays sadly.
Favourite book: Anything by Sidney Sheldon.
Favourite movie: The Exorcist 2. It is a big thing in our family to sit around together and watch horror movies, I love watching them.
Favourite holiday destination: The favourite place I have been to is Florence, it is a beautiful city. My dream though has always been to visit Cyprus, I really want to go there.
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
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.
Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
FIGHT%20CARD
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MATCH INFO
Liverpool 3
Sadio Man 28'
Andrew Robertson 34'
Diogo Jota 88'
Arsenal 1
Lacazette 25'
Man of the match
Sadio Mane (Liverpool)
MATCH INFO
Bangla Tigers 108-5 (10 ovs)
Ingram 37, Rossouw 26, Pretorius 2-10
Deccan Gladiators 109-4 (9.5 ovs)
Watson 41, Devcich 27, Wiese 2-15
Gladiators win by six wickets
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
What is tokenisation?
Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.
About Housecall
Date started: July 2020
Founders: Omar and Humaid Alzaabi
Based: Abu Dhabi
Sector: HealthTech
# of staff: 10
Funding to date: Self-funded
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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
Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC