The UAE will be the first country in the Middle East to hold clinical trials of Sputnik V, the Russian-developed vaccine against Covid-19, after having begun testing a joint trial with China last summer. Developing an effective vaccine or treatment for coronavirus is humanity’s best chance at beating the pandemic and securing a path to normality. It is therefore vital that countries continue to work together to find a solution.
Final-phase trials of Sputnik V are expected to begin in the Emirates by the end of November. The vaccine is currently being tested in Russia and Belarus, with a further trial planned in Venezuela. Kirill Dmitriev, the head of the Russian Direct Investment Fund, which has financed Russia's vaccine work, told CNN that his country plans to begin mass inoculation by November. There are currently more than 150 coronavirus vaccines in development worldwide, as countries compete over which nation will develop the first viable Covid-19 jab.
The Emirates has played an active part in the fight against Covid-19 by boosting international co-operation in healthcare and research. The country has sent vital medical aid to nations in need, and launched mass-testing campaigns at home. More than 11 million tests have been carried out thus far; an impressive figure in a nation of 9.6m people. The Emirates’ advanced healthcare sector and research centres have been instrumental in attracting pharmaceutical companies to roll out final phase testing for residents. Since July, more than 30,000 volunteers participated in such trials for a vaccine developed by Sinopharm, a Chinese drugmaker.
The Emirates makes for an ideal testing ground for vaccines, in large part thanks to the diversity of those living in it, which is comprised of local nationals as well as a large pool of expatriates and their families, who hail from virtually all parts of the world. The country is home to close to 200 different nationalities.
Having such variety in a pool of volunteers is crucial when testing treatments, as it reveals whether the drug works properly across race, gender and genetic factors. In the pandemic era, it is a fortunate side effect of the country’s long-term investments in the advancement of vaccine research, health care, technology and science more generally. Perhaps most of all, it is a result of long-term investment in drawing talent from around the globe, through a focus on education, promoting a welcoming environment and a culture of pluralism and tolerance.
Although vaccine development is making great strides in the UAE and elsewhere, ending the pandemic is not expected to be a straightforward process. There have been obstacles. A coronavirus vaccine study by US company Johnson & Johnson, for instance, was temporarily halted because a participant became ill.
Final-phase trials of Sputnik V are expected to begin in the Emirates by the end of November
Unfortunately, these kinds of setbacks have given fuel to concerns from anti-vaccine groups. For others, they exacerbate fears that a total cure may never be found. Severe acute respiratory syndrome, known as SARS, is a strain of coronavirus first discovered in 2003. To this day, it has no known remedy.
But our current experience with Covid-19 presents a completely different landscape – epidemiologically, scientifically, socially and politically. The efforts put into searching for a Covid-19 cure are much greater, and so are hopes for a solution. Scientific research and international co-operation, especially in the medical and pharmaceutical fields, are crucial to ending the pandemic and finding a path back to a new, safer normal. With enough resolve, we can not only find better ways to protect those most vulnerable, but to ensure that our whole society thrives.
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Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
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Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.
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
Specs
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The specs
Engine: 3.0-litre six-cylinder turbo
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Transmission: Eight-speed auto
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What is 'Soft Power'?
Soft power was first mentioned in 1990 by former US Defence Secretary Joseph Nye.
He believed that there were alternative ways of cultivating support from other countries, instead of achieving goals using military strength.
Soft power is, at its root, the ability to convince other states to do what you want without force.
This is traditionally achieved by proving that you share morals and values.
