Wintery weather in the Arabian Gulf this week has rekindled discussion about climate change and its effect on our society. Antonie Robertson / The National
Wintery weather in the Arabian Gulf this week has rekindled discussion about climate change and its effect on our society. Antonie Robertson / The National
Wintery weather in the Arabian Gulf this week has rekindled discussion about climate change and its effect on our society. Antonie Robertson / The National
Wintery weather in the Arabian Gulf this week has rekindled discussion about climate change and its effect on our society. Antonie Robertson / The National

Living with climate change


  • English
  • Arabic

Wintery weather in the Arabian Gulf this week has rekindled discussion about climate change and its effect on our society. Rain is, of course, nothing new to this part of the world in the winter months. But the severity and frequency of the showers have some experts considering preventive measures that can be taken before next winter.

In its own way, this shift in thinking reflects a larger shift in the global discussion about climate change. Just a few years ago, the international community would gather and discuss steps that could be taken to stop climate change. The arguments are well rehearsed and follow that human actions are changing the temperature of the planet. The effects would probably be catastrophic for the planet and, so the conversation went, we’d have to reverse the trends responsible for the change.

Today, the tone of the debate is remarkably different. Just as we are considering ways to update our roads to deal with flash flooding during the next round of winter rains, so too are countries considering ways to mitigate (instead of reverse) climate change.

Adopted in December 2015, the Paris agreement on climate change, for example, calls for signatories to halt the increase in global average temperature through the cutting of curbing emissions. Moreover, the agreement attempts to increase our “ability to adapt to the adverse impacts of climate change and foster climate resilience and low greenhouse gas emissions development, in a manner that does not threaten food production”.

This language is significant. The international community is now focused on living with climate change instead of preventing it in the first place.

The Svalbard Global Seed Vault located in Norway 1,300 kilometres from the North Pole is a similar international attempt to prepare for, instead of preventing, climate change. The seed vault is a project that attempts to insure against the loss of seeds during a large-scale crisis spurred on by climate change.

The argument for the seed vault is remarkably simple but one we tend not to think much about. Our systems of agricultural will be the first affected by changes to our climate. Crops could fail because types of grain we depend on are not prepared for dramatic shifts in global temperature. While the effects of food shortages around the world will have a profound social and political effect, they could also change the way we develop as a species.

And so, with a relatively small endowment of money, scientists and agricultural specialists have created repositories of seeds. Imagine a physical library of hundreds of years of human agricultural history. The seeds contained in that frozen vault in Norway could, at some point in the not-too-distant future, be the key to living with climate change.

With the debate shifted to living with a changing climate, initiatives such as the seed vault will continue to pop up around the world. The creativity of the human race will soon be put to its greatest challenge.

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 bio

Favourite book: The Alchemist by Paulo Coelho

Favourite travel destination: Maldives and south of France

Favourite pastime: Family and friends, meditation, discovering new cuisines

Favourite Movie: Joker (2019). I didn’t like it while I was watching it but then afterwards I loved it. I loved the psychology behind it.

Favourite Author: My father for sure

Favourite Artist: Damien Hurst

How to report a beggar

Abu Dhabi – Call 999 or 8002626 (Aman Service)

Dubai – Call 800243

Sharjah – Call 065632222

Ras Al Khaimah - Call 072053372

Ajman – Call 067401616

Umm Al Quwain – Call 999

Fujairah - Call 092051100 or 092224411

Info

What: 11th edition of the Mubadala World Tennis Championship

When: December 27-29, 2018

Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams

Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

WIDE%20VIEW
%3Cp%3EThe%20benefits%20of%20HoloLens%202%2C%20according%20to%20Microsoft%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EManufacturing%3A%3C%2Fstrong%3E%20Reduces%20downtime%20and%20speeds%20up%20onboarding%20and%20upskilling%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEngineering%20and%20construction%3A%3C%2Fstrong%3E%20Accelerates%20the%20pace%20of%20construction%20and%20mitigates%20risks%20earlier%20in%20the%20construction%20cycle%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EHealth%20care%3A%3C%2Fstrong%3E%20Enhances%20the%20delivery%20of%20patient%20treatment%20at%20the%20point%20of%20care%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEducation%3A%3C%2Fstrong%3E%20Improves%20student%20outcomes%20and%20teaches%20from%20anywhere%20with%20experiential%20learning%3C%2Fp%3E%0A
RESULTS

5pm: Handicap (TB) Dh100,000, 2,400m
Winner: Recordman, Richard Mullen (jockey), Satish Seemar (trainer)

5.30pm: Wathba Stallions Cup Handicap (PA) Dh 70,000, 2,200m​​​​​​​
Winner: AF Taraha, Tadhg O’Shea, Ernst Oertel

6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000, 1,400m​​​​​​​
Winner: Dhafra, Fabrice Veron, Eric Lemartinel

6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000, 1,400m​​​​​​​
Winner: Maqam, Fabrice Veron, Eric Lemartinel

7pm: Handicap (PA) Dh85,000, 1,600m​​​​​​​
Winner: AF Momtaz, Fernando Jara, Musabah Al Muhairi

7.30pm: Maiden (PA) Dh80,000, 1,600m​​​​​​​
Winner: Optimizm, Patrick Cosgrave, Abdallah Al Hammadi

Previous men's records
  • 2:01:39: Eliud Kipchoge (KEN) on 16/9/19 in Berlin
  • 2:02:57: Dennis Kimetto (KEN) on 28/09/2014 in Berlin
  • 2:03:23: Wilson Kipsang (KEN) on 29/09/2013 in Berlin
  • 2:03:38: Patrick Makau (KEN) on 25/09/2011 in Berlin
  • 2:03:59: Haile Gebreselassie (ETH) on 28/09/2008 in Berlin
  • 2:04:26: Haile Gebreselassie (ETH) on 30/09/2007 in Berlin
  • 2:04:55: Paul Tergat (KEN) on 28/09/2003 in Berlin
  • 2:05:38: Khalid Khannouchi (USA) 14/04/2002 in London
  • 2:05:42: Khalid Khannouchi (USA) 24/10/1999 in Chicago
  • 2:06:05: Ronaldo da Costa (BRA) 20/09/1998 in Berlin
360Vuz PROFILE

Date started: January 2017
Founder: Khaled Zaatarah 
Based: Dubai and Los Angeles
Sector: Technology 
Size: 21 employees
Funding: $7 million 
Investors: Shorooq Partners, KBW Ventures, Vision Ventures, Hala Ventures, 500Startups, Plug and Play, Magnus Olsson, Samih Toukan, Jonathan Labin

COMPANY%20PROFILE%3A
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Envision%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2017%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EKarthik%20Mahadevan%20and%20Karthik%20Kannan%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20The%20Netherlands%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Technology%2FAssistive%20Technology%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%241.5%20million%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2020%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Seed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%204impact%2C%20ABN%20Amro%2C%20Impact%20Ventures%20and%20group%20of%20angels%3C%2Fp%3E%0A
The biog

Family: He is the youngest of five brothers, of whom two are dentists. 

Celebrities he worked on: Fabio Canavaro, Lojain Omran, RedOne, Saber Al Rabai.

Where he works: Liberty Dental Clinic 

Kanye%20West
%3Cp%3EYe%20%E2%80%94%20the%20rapper%20formerly%20known%20as%20Kanye%20West%20%E2%80%94%20has%20seen%20his%20net%20worth%20fall%20to%20%24400%20million%20in%20recent%20weeks.%20That%E2%80%99s%20a%20precipitous%20drop%20from%20Bloomberg%E2%80%99s%20estimates%20of%20%246.8%20billion%20at%20the%20end%20of%202021.%3Cbr%3EYe%E2%80%99s%20wealth%20plunged%20after%20business%20partners%2C%20including%20Adidas%2C%20severed%20ties%20with%20him%20on%20the%20back%20of%20anti-Semitic%20remarks%20earlier%20this%20year.%3Cbr%3EWest%E2%80%99s%20present%20net%20worth%20derives%20from%20cash%2C%20his%20music%2C%20real%20estate%20and%20a%20stake%20in%20former%20wife%20Kim%20Kardashian%E2%80%99s%20shapewear%20firm%2C%20Skims.%3C%2Fp%3E%0A
World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.