Adi Mishra and India cricket star Virat Kohli, right, will be the guiding forces behind UAE's Team Blue Rising. Photo: Blue Rising
Adi Mishra and India cricket star Virat Kohli, right, will be the guiding forces behind UAE's Team Blue Rising. Photo: Blue Rising
Adi Mishra and India cricket star Virat Kohli, right, will be the guiding forces behind UAE's Team Blue Rising. Photo: Blue Rising
Adi Mishra and India cricket star Virat Kohli, right, will be the guiding forces behind UAE's Team Blue Rising. Photo: Blue Rising

Technology, sustainability and Virat Kohli the driving force behind UAE's Team Blue Rising


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The future is electric. That much has become clear over the past few years as various modes of transportation adapt newer technologies to integrate all electric systems with the aim of reducing emissions and creating a sustainable future.

The world of motor sports too is playing its part in ushering in new technology. We have Formula E – the highest class of competition for electrically powered single-seater racing cars. MotoGP is also not too far behind; it has had an all-electric series called MotoE since 2019.

Now, it is the turn of race boats. The UIM E1 World Championship is the world’s first all-electric race boat series. The first race takes place in Jeddah on February 2-3 next year. Up to 10 teams will compete in the inaugural season.

Among those taking part in the E1 championship is UAE-based Team Blue Rising. Under the guidance of League Sports Co (LSC) founder Adi K Mishra and India cricket superstar Virat Kohli as co-owners, Team Blue Rising are preparing for a new era in the world of racing and technology.

For Mishra, the E1 championship brought together some of the most integral parts of his business philosophy – sustainability, technology and inclusivity.

“We at LSC created an empirical formula where we have 7-10 criteria. Within that, sustainability and women in sports are two important aspects,” Mishra told The National.

“E1 is very interesting because of what they have done from an engineering standpoint. Not only have they made the power train electric, they have also designed it in a way the boat can take sharp turns. It is an incredible job they have done. I am an electrical and computer engineer and that drew me to the sport.”

“Some of the key aspects that E1 focuses on are sustainability, marine conservation, and diversity,” he explains. “Also, each team is to have one male and one female pilot. First the men will race and after that the women.”

The technology aspect of E1 is fascinating. Electric power train, hydrofoils and almost uniform boats make for an intriguing start.

Team Blue Rising's race boat for the UIM E1 championship next year. Photo: Blue Rising
Team Blue Rising's race boat for the UIM E1 championship next year. Photo: Blue Rising

“There have been two key innovations. One is hydrofoiling – the boats rise above the surface of the water and can race in about 12 feet of water. Now you can have races close to a city,” Mishra says.

“The other one is the electric power train. The way these boats have been engineered are fly by wire. They have done a lot of engineering around the motor and converted that to run entirely on electric.

“For the first couple of seasons, all boats will be the same. So the main decision as a team that you are taking is on propulsion system according to each race; Jeddah will be different from Venice and Monaco.”

It’s not just about technology. Sustainability and conservation are at the front and centre of Team Blue Rising’s plans; which dovetails the objectives of Cop28 in the UAE later this month.

“Sustainability is one of the key areas, not just for Blue Rising but LSC. One of the things we have done is we have partnered with Universal Carbon Registry (UCR). We are going to be offsetting all of our carbon outlay as a team.

“We have a strong focus on mangrove ecosystems as well. The reason for that is two fold. First is marine conservation. Deploying mangroves automatically builds a marine environment. And secondly, they are also excellent at offsetting carbon,” Mishra says of his UAE-based team. "We are looking to amplify blue carbon impact by restoring the marine ecosystem which in turn can help sequester carbon.

“The UAE has done an incredible job since the 1970s and 80s to deploy mangroves. We are finalising our plans on how we can support these programmes in the UAE.

“The UCR is going to be present at Cop28 and we are finalising how we can present our partnership together, during that timeframe. Being headquartered in the UAE, it has been an incredible place to have all these industries come together.”

Team Blue Rising, which aims to have a few lead pilots from the UAE, has some serious star power on board as well.

India cricketer Kohli has joined the team and brings with him one of the biggest social platforms in the world and powerful brand presence.

Kohli has been using his reach to spread awareness about various matters close to his heart. According to Mishra, conservation and women empowerment are issues Kohli feels passionately about and that helped bring both parties together.

“Virat is one of the best athletes of our generation. I was amazed about how passionate he is about sustainability and women empowerment. As soon as we aligned on those, it was just a matter of making sure the specifics are right,” Mishra says.

“He really wants to use his platform to empower sustainability causes and women in sports, which he has already been doing in cricket.”

The championship will run until September 2024. Other celebrities associated with the E1 championship are NFL legend Tom Brady, tennis superstar Rafael Nadal, former footballer Didier Drogba, and F1 driver Sergio Perez.

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

ONCE UPON A TIME IN GAZA

Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi

Directors: Tarzan and Arab Nasser

Rating: 4.5/5

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

LILO & STITCH

Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders

Director: Dean Fleischer Camp

Rating: 4.5/5

Blackpink World Tour [Born Pink] In Cinemas

Starring: Rose, Jisoo, Jennie, Lisa

Directors: Min Geun, Oh Yoon-Dong

Rating: 3/5

Polarised public

31% in UK say BBC is biased to left-wing views

19% in UK say BBC is biased to right-wing views

19% in UK say BBC is not biased at all

Source: YouGov

Test squad: Azhar Ali (captain), Abid Ali, Asad Shafiq, Babar Azam, Haris Sohail, Imam-ul-Haq, Imran Khan, Iftikhar Ahmed, Kashif Bhatti, Mohammad Abbas, Mohammad Rizwan(wicketkeeper), Musa Khan, Naseem Shah, Shaheen Afridi, Shan Masood, Yasir Shah

Twenty20 squad: Babar Azam (captain), Asif Ali, Fakhar Zaman, Haris Sohail, Iftikhar Ahmed, Imad Wasim, Imam-ul-Haq, Khushdil Shah, Mohammad Amir, Mohammad Hasnain, Mohammad Irfan, Mohammad Rizwan (wicketkeeper), Musa Khan, Shadab Khan, Usman Qadir, Wahab Riaz 

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The specs

Engine: 5.0-litre supercharged V8

Transmission: Eight-speed auto

Power: 575bhp

Torque: 700Nm

Price: Dh554,000

On sale: now

How they line up for Sunday's Australian Grand Prix

1 Lewis Hamilton, Mercedes

2 Kimi Raikkonen, Ferrari

3 Sebastian Vettel, Ferrari

4 Max Verstappen, Red Bull

5 Kevin Magnussen, Haas

6 Romain Grosjean, Haas

7 Nico Hulkenberg, Renault

*8 Daniel Ricciardo, Red Bull

9 Carlos Sainz, Renault

10 Valtteri Bottas, Mercedes

11 Fernando Alonso, McLaren

12 Stoffel Vandoorne, McLaren

13 Sergio Perez, Force India

14 Lance Stroll, Williams

15 Esteban Ocon, Force India

16 Brendon Hartley, Toro Rosso

17 Marcus Ericsson, Sauber

18 Charles Leclerc, Sauber

19 Sergey Sirotkin, Williams

20 Pierre Gasly, Toro Rosso

* Daniel Ricciardo qualified fifth but had a three-place grid penalty for speeding in red flag conditions during practice

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20M3%2C%208-core%20CPU%2C%20up%20to%2010-core%20CPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2013.6-inch%20Liquid%20Retina%2C%202560%20x%201664%2C%20224ppi%2C%20500%20nits%2C%20True%20Tone%2C%20wide%20colour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F16%2F24GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201%2F2TB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20Thunderbolt%203%2FUSB-4%20(2)%2C%203.5mm%20audio%2C%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206E%2C%20Bluetooth%205.3%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%2052.6Wh%20lithium-polymer%2C%20up%20to%2018%20hours%2C%20MagSafe%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%201080p%20FaceTime%20HD%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20Support%20for%20Apple%20ProRes%2C%20HDR%20with%20Dolby%20Vision%2C%20HDR10%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%204-speaker%20system%2C%20wide%20stereo%2C%20support%20for%20Dolby%20Atmos%2C%20Spatial%20Audio%20and%20dynamic%20head%20tracking%20(with%20AirPods)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Midnight%2C%20silver%2C%20space%20grey%2C%20starlight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20MacBook%20Air%2C%2030W%2F35W%20dual-port%2F70w%20power%20adapter%2C%20USB-C-to-MagSafe%20cable%2C%202%20Apple%20stickers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh4%2C599%3C%2Fp%3E%0A
Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

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

BlacKkKlansman

Director: Spike Lee

Starring: John David Washington; Adam Driver 

Five stars

The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

Updated: November 13, 2023, 12:15 PM