Alinghi's arrival at Saqr Port last week took place under a veil of secrecy because of concerns over possible damage on its way from Europe.
Alinghi's arrival at Saqr Port last week took place under a veil of secrecy because of concerns over possible damage on its way from Europe.
Alinghi's arrival at Saqr Port last week took place under a veil of secrecy because of concerns over possible damage on its way from Europe.
Alinghi's arrival at Saqr Port last week took place under a veil of secrecy because of concerns over possible damage on its way from Europe.

Alinghi V set to test waters


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RAS AL KHAIMAH // Alinghi V, the new yacht saddled with the responsibility of keeping the America's Cup in the Swiss hands of multi-billionaire businessman Ernesto Bertarelli, should be sailing on Gulf waters before the end of next week. Officials of the defending team who will be based in Al Hamra, Ras Al Khaimah (RAK), for the next four months in advance of the three-race series between February 8 to 12, would not specify their exact UAE launch date as extensive checks are being carried out on the gigantic catamaran.

Alinghi's arrival at Saqr Port, RAK last week took place under a veil of secrecy because of concerns over possible damage on the 4,400-nautical-mile journey from its previous training base in Genoa, Italy. Paco Latorre, head of marketing and communications at Alinghi, explained: "We didn't want to make any announcement until our boat was off-loaded from the cargo ship and found to be safe. It took us a full day to establish that everything was intact."

Once the state-of-the-art vessel - which is to be skippered by Australian Brad Butterworth - was given the all-clear it was towed from its landing bay to its new headquarters and docked ahead of schedule before 10 o'clock yesterday morning. The boat was then lifted by a crane and despatched into a specially prepared tented area. Alinghi, which was originally launched on Lake Geneva and then lifted by helicopter to Genoa was dismantled for its journey down the Suez Canal to the Middle East.

Latorre disclosed: "We kept the hull [which measures 90ft x 90ft] in one piece but we detached the mast, the rigging and all the appendages to make the transportation as smooth as possible. The boat was then reassembled at our RAK base ready for its transfer to our new base." More than half of Alinghi's team of 100 have now arrived in RAK to prepare for an intense training programme before the 33rd America's Cup battle is joined with American challenger BMW Oracle Racing.

"Our personnel will work on a combination of training and boat development," said Latorre. "The boat is very new so there may be some technical problems. The intention is to be sailing from Al Hamra village from the middle of the month." Latorre emphasised that he and his Alinghi colleagues are working on schedule for the defence of the Cup, despite the on-going threats to the racing taking place because of a series of court actions brought by BMW Oracle. "The message to the people of the UAE who want this competition to go ahead as planned is to be optimistic that this will be a great event. Hopefully one day they [Oracle] will end up showing up and we can get on with the racing instead of the litigation.

"The way we see it is that we keep moving forward in trying to have this competition on the water in RAK. We will have our entire team there in a week or so. What we want is to have a normal competition on the water instead of them disputing every decision that the Alinghi team make. We hope this is the last hiccup we have to deal with." Asked whether he thought that the Oracle team funded by software mogul Larry Ellison and led by Russell Coutts, renowned as one of the finest sailors in history, are scared of fronting up for the best-of-three series, Latorre said: "That's what it looks like. They keep making excuses and putting forward legal arguments. It is like little kids, when they cry for the first time you pay attention. When they cry for the 10th time you say come on, sit down and be silent."

Asked then for his opinion on whether the racing will actually take place, Latorre concluded: "It is difficult to predict what is going to happen. You never know what the courts are going to decide. "We have declared our intentions by arriving in RAK. But it's not only us but our opponents. BMW Oracle have people and equipment and the logistics to go to RAK. It's a bit of a double language they are speaking. One one hand they are contesting matters in court and on the other getting ready and sending people and equipment to RAK."

wjohnson@thenational.ae

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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Dr Afridi's warning signs of digital addiction

Spending an excessive amount of time on the phone.

Neglecting personal, social, or academic responsibilities.

Losing interest in other activities or hobbies that were once enjoyed.

Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.

Experiencing sleep disturbances or changes in sleep patterns.

What are the guidelines?

Under 18 months: Avoid screen time altogether, except for video chatting with family.

Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.

Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.

Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.

Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.

Source: American Paediatric Association

First Person
Richard Flanagan
Chatto & Windus 

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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

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

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

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
  • Do not drive outside designated lanes
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.