The Al Chabib and Fayez family are reunited in Abu Dhabi after two decades apart. Most fled to the UK in the late 1990s, but some stayed and suffered persecution at the hands of the Houthi militia. Khushnum Bhandari for The National
The Al Chabib and Fayez family are reunited in Abu Dhabi after two decades apart. Most fled to the UK in the late 1990s, but some stayed and suffered persecution at the hands of the Houthi militia. Khushnum Bhandari for The National
The Al Chabib and Fayez family are reunited in Abu Dhabi after two decades apart. Most fled to the UK in the late 1990s, but some stayed and suffered persecution at the hands of the Houthi militia. Kh
Since the Houthi rebel group took over parts of Yemen, one of the ways it has threatened to reset the country's rich identity has been by targeting its social fabric. In the case of the few Yemenite Jews left in the country, the Houthis are committed to ending their presence entirely.
The community has lived under oppression in Yemen for decades, since even before the Houthi coup more than five years ago. Many migrated to the West and Israel. Now, the plight of those who remain – estimated to number between just 20 and 40 individuals – is intolerable. Soon, they may leave, too.
In the Gulf, religious diversity is not just a contemporary phenomenon
Their departure would represent one of the great cultural losses in the history of Yemen, and one that is echoed across the Arab world; Jewish communities have dwindled in several Arab countries over the past century. Much of that phenomenon is the result of incidents of persecution, which amounts to an unacceptable number of personal catastrophes for Jewish families who were forced to leave the only lands they and their ancestors have ever known. War and politics have displaced millions in the region, including millions of Palestinians who lost their homes due to occupation.
The Yemen security situation has rapidly deteriorated over the past few years, with famine, illness and terrorism threatening the wellbeing of citizens. EPA
In the Gulf, religious diversity is not just a contemporary phenomenon. While it is likely that Jews first settled permanently in Yemen around 300 BC, some historians suggest Jews first arrived in the country as far back as the 10th century BC. In 1998, scholars published news of the discovery of a Jewish tombstone in Ras Al Khaimah, UAE. The stone mourns the passing of a man named David, who was most likely a trader from the Persian Jewish community. These finds continue to prove wrong the ideologies of groups like the Houthis, who simplify the history of the region to bolster a fragile sense of their own legitimacy.
Yesterday, The National reported on a reunion in Abu Dhabi this month of the Al Chabib family, the majority of whom fled Yemen for the UK two decades ago. Only the grandparents and an unlce remained behind, in increasingly unsustainable circumstances. Now, after an effort co-ordinated by the UAE government, their lives are no longer in danger.
Years of civil war have taken a heavy toll on Yemen's heritage. In spite of Houthi vandalism, however, the nation's Jews, even in their absence, remain part of the country's history. Support from states such as the UAE reinforce this fact, and will continue to counter the harmful, invented narratives of extremists.
It also brings peace to families like the Al Chabibs, who have been traumatised for so long. In the words of the family's patriarch, Sulaiman Chabib, "I now know what happiness truly is. My heart and eyes are full of joy."
The Houthi's opposite vision for Yemen sustains its havoc on innocent people. Eventually it will fail, as long as nations continue to assert the truth and beauty of the diversity embodied within the culture and history of the Middle East.
White hydrogen: Naturally occurring hydrogen Chromite: Hard, metallic mineral containing iron oxide and chromium oxide Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
UAE currency: the story behind the money in your pockets
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
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 chef's advice
Troy Payne, head chef at Abu Dhabi’s newest healthy eatery Sanderson’s in Al Seef Resort & Spa, says singles need to change their mindset about how they approach the supermarket.
“They feel like they can’t buy one cucumber,” he says. “But I can walk into a shop – I feed two people at home – and I’ll walk into a shop and I buy one cucumber, I’ll buy one onion.”
Mr Payne asks for the sticker to be placed directly on each item, rather than face the temptation of filling one of the two-kilogram capacity plastic bags on offer.
The chef also advises singletons not get too hung up on “organic”, particularly high-priced varieties that have been flown in from far-flung locales. Local produce is often grown sustainably, and far cheaper, he says.
Top 10 in the F1 drivers' standings
1. Sebastian Vettel, Ferrari 202 points
2. Lewis Hamilton, Mercedes-GP 188
3. Valtteri Bottas, Mercedes-GP 169
4. Daniel Ricciardo, Red Bull Racing 117
5. Kimi Raikkonen, Ferrari 116
6. Max Verstappen, Red Bull Racing 67
7. Sergio Perez, Force India 56
8. Esteban Ocon, Force India 45
9. Carlos Sainz Jr, Toro Rosso 35
10. Nico Hulkenberg, Renault 26
HUNGARIAN GRAND PRIX RESULT
1. Sebastian Vettel, Ferrari 1:39:46.713
2. Kimi Raikkonen, Ferrari 00:00.908
3. Valtteri Bottas, Mercedes-GP 00:12.462
4. Lewis Hamilton, Mercedes-GP 00:12.885
5. Max Verstappen, Red Bull Racing 00:13.276
6. Fernando Alonso, McLaren 01:11.223
7. Carlos Sainz Jr, Toro Rosso 1 lap
8. Sergio Perez, Force India 1 lap
9. Esteban Ocon, Force India 1 lap
10. Stoffel Vandoorne, McLaren 1 lap
11. Daniil Kvyat, Toro Rosso 1 lap
12. Jolyon Palmer, Renault 1 lap
13. Kevin Magnussen, Haas 1 lap
14. Lance Stroll, Williams 1 lap
15. Pascal Wehrlein, Sauber 2 laps
16. Marcus Ericsson, Sauber 2 laps
17r. Nico Huelkenberg, Renault 3 laps
r. Paul Di Resta, Williams 10 laps
r. Romain Grosjean, Haas 50 laps
r. Daniel Ricciardo, Red Bull Racing 70 laps
