The horse racing industry has paid tribute after Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai and Minister of Finance and one of the world’s leading owner-breeders, died on Wednesday.
Sheikh Hamdan's popular blue silks and white epaulettes were twice victorious in the Dubai World Cup, with Almutawakel in 1999 and Invasor in 2007.
He celebrated two Epsom Derby wins with Nashwan in 1989, and Erhaab in 1994, and other Classics such as the 2000 Guineas, 1000 Guineas, the Oaks, Irish Derby, Irish 2000 Guineas, Irish 1000 Guineas and Poule d'Essai des Pouliches.
Other major international successes included two Melbourne Cups with At Talaq in 1986 and Jeune in 1994, the Breeders' Cup Classic with Invasor in 2006, and the Belmont Stakes with Jazil, also in 2006.
Ali Rashid Al Raihe, the veteran Emirati and three-time UAE champion trainer who has a string of Sheikh Hamdan’s horses in training, led the tributes.
“The racing world has lost one of the greatest patrons of the industry and we have lost one of our greatest support to our industry,” Al Raihe said.
“As an owner-breeder, he has contributed enormously towards the racing industry. He pioneered the promotion of the flat racing for Purebred Arabians in the world.”
Sheikh Hamdan’s colours will be carried by five runners across three races in Saturday’s silver jubilee Dubai World Cup meeting.
Al Raihe runs Eqtiraan in the Dubai Turf and Al Zahir in the Dubai Kahayla, while Charles Hills sends out Khaadem and Dubai-based Doug Watson has Motafaawit in the Al Quoz Sprint, and Musabah Al Muhairi runs Zainhom in the Dubai Turf.
Richard Hills, the former retained jockey for Sheikh Hamdan and now the assistant racing manager to the Shadwell operation, told racingpost.com: “It’s very sad news. It’s like losing a boss and a father, as I’ve known Sheikh Hamdan my whole life.
“He was such a good man and we were very close. I know he was very frustrated about not being able to come to Royal Ascot last year when we had six winners, as he loved Ascot. I last spoke to him only a couple of weeks ago and he'll be sorely missed.”
Jim Crowley, Sheikh Hamdan’s retained jockey who rides Al Zahir, Khaadem and Eqtiraan on Saturday, tweeted: “So very sad of the passing of HH Sheikh Hamdam bin Rashid al Maktoum.
“You would not meet a more honest and loyal man, I will be forever grateful to him, it’s been a honour and a privilege to ride for him, my thoughts are with his family.”
Sheikh Hamdan was the leading owner in Britain last season, winning the championship for the seventh time. He was also the leading owner at Royal Ascot.
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PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
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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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
The biog
Age: 46
Number of Children: Four
Hobby: Reading history books
Loves: Sports
Where to buy
Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com
KILLING OF QASSEM SULEIMANI
APPLE IPAD MINI (A17 PRO)
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Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
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Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
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In the box: iPad mini, USB-C cable, 20W USB-C power adapter
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How being social media savvy can improve your well being
Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.
As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.
Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.
Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.
Torrena said that “most people believe that dieting and keeping fit is boring”.
However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.
“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.
People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Sholto Byrnes on Myanmar politics
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The specs
Price, base / as tested Dh960,000
Engine 3.9L twin-turbo V8
Transmission Seven-speed dual-clutch automatic
Power 661hp @8,000rpm
Torque 760Nm @ 3,000rpm
Fuel economy, combined 11.4L / 100k
