Gold Trip thundered home down the final straight to win the Melbourne Cup at Flemington Racecourse by a length and a half from Emissary on Tuesday.
The six-year-old stallion trained by Ciaron Maher and David Eustace charged in front at the 300m mark to win a thrilling sprint to the final post in the gruelling two-mile handicap.
High Emocean, also trained by Maher and Eustace, placed third on a rain-softened track.
It was Mark Zahra's first victory in the "race that stops the nation", which has been held on the first Tuesday of November since 1876.
"I feel like crying. It's unbelievable. What a day," said an emotional Zahra after winning the A$8 million ($6 million) race.
Gold Trip defied a huge weight disadvantage (57.5kgs) on the field as Zahra kicked for home and went clear after the final turn, holding off the fast-finishing Emissary and High Emocean, who were carrying 6kg less than the winner.
"I feel like crying. It’s unbelievable. What a day," said winning jockey Mark Zahra.
"He’s a horse that when you go, you don’t give him a chance to think about it. I was hoping no one would come near me. It’s just elation when I crossed the line."
Favorite and English stayer Deauville Legend was fourth, and Realm of Flowers finished fifth.
The field was reduced to 22 after Point Nepean was scratched on Monday and Lunar Flare failed a veterinarian inspection on the morning of the race.
Crowds were limited to 10,000 last year because of Covid-19, but up to 10 times that number packed into the Melbourne track for the 2022 edition, despite chilly weather and frequent showers.
The Melbourne Cup ran after police were called to investigate alleged vandalism at Flemington in the early hours of Tuesday morning, with video on social media showing a hand-held hose discharging an oily, black substance onto the track.
The Nine Network said an unnamed person contacted the broadcaster and claimed responsibility for pouring the sludge as a "problem gambler" making a protest against the Victorian Racing Club.
The Victorian Racing Club runs the Melbourne Cup and other race meetings at Flemington.
Racecourse staff cleaned up the sludge around the 1,500m mark of the track and the Cup day races proceeded without incident.
Brief scoreline:
Manchester United 1
Mata 11'
Chelsea 1
Alonso 43'
Fresh faces in UAE side
Khalifa Mubarak (24) An accomplished centre-back, the Al Nasr defender’s progress has been hampered in the past by injury. With not many options in central defence, he would bolster what can be a problem area.
Ali Salmeen (22) Has been superb at the heart of Al Wasl’s midfield these past two seasons, with the Dubai club flourishing under manager Rodolfo Arrubarrena. Would add workrate and composure to the centre of the park.
Mohammed Jamal (23) Enjoyed a stellar 2016/17 Arabian Gulf League campaign, proving integral to Al Jazira as the capital club sealed the championship for only a second time. A tenacious and disciplined central midfielder.
Khalfan Mubarak (22) One of the most exciting players in the UAE, the Al Jazira playmaker has been likened in style to Omar Abdulrahman. Has minimal international experience already, but there should be much more to come.
Jassim Yaqoub (20) Another incredibly exciting prospect, the Al Nasr winger is becoming a regular contributor at club level. Pacey, direct and with an eye for goal, he would provide the team’s attack an extra dimension.
Moral education needed in a 'rapidly changing world'
Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.
Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.
"Moral education touches on every aspect and subject that children engage in.
"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.
"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."
Race card
6.30pm: Emirates Holidays Maiden (TB), Dh82,500 (Dirt), 1,900m
7.05pm: Arabian Adventures Maiden (TB), Dh82,500 (D), 1,200m
7.40pm: Emirates Skywards Handicap (TB), Dh82,500 (D), 1,200m
8.15pm: Emirates Airline Conditions (TB), Dh120,000 (D), 1,400m
8.50pm: Emirates Sky Cargo (TB), Dh92,500 (D)1,400m
9.15pm: Emirates.com (TB), Dh95,000 (D), 2,000m
The specs
Engine: 3.6 V6
Transmission: 8-speed auto
Power: 295bhp
Torque: 353Nm
Price: Dh155,000
On sale: now
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
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