• Emma Raducanu of Great Britain plays a forehand during her three-set defeat to Elina Svitolina of Ukraine at the ASB Tennis Classic in Auckland, New Zealand, on Thursday, January 4, 2024. AP
    Emma Raducanu of Great Britain plays a forehand during her three-set defeat to Elina Svitolina of Ukraine at the ASB Tennis Classic in Auckland, New Zealand, on Thursday, January 4, 2024. AP
  • Elina Svitolina of Ukraine waves to the crowd after defeating Emma Raducanu of Great Britain. Photosport
    Elina Svitolina of Ukraine waves to the crowd after defeating Emma Raducanu of Great Britain. Photosport
  • Emma Raducanu of Great Britain reacts during her match against Elina Svitolina of Ukraine. Getty Images
    Emma Raducanu of Great Britain reacts during her match against Elina Svitolina of Ukraine. Getty Images
  • Elina Svitolina celebrates after winning a point against Emma Raducanu. Getty Images
    Elina Svitolina celebrates after winning a point against Emma Raducanu. Getty Images
  • Emma Raducanu of Great Britain arrives for the match wearing heavy strapping on her thigh. Getty Images
    Emma Raducanu of Great Britain arrives for the match wearing heavy strapping on her thigh. Getty Images
  • Emma Raducanu after winning a point. Getty Images
    Emma Raducanu after winning a point. Getty Images
  • Emma Raducanu serves against Elina Svitolina. Getty Images
    Emma Raducanu serves against Elina Svitolina. Getty Images
  • Emma Raducanu plays a forehand against Elina Svitolina. Getty Images
    Emma Raducanu plays a forehand against Elina Svitolina. Getty Images
  • Emma Raducanu after winning a point against Elina Svitolina. Getty Images
    Emma Raducanu after winning a point against Elina Svitolina. Getty Images

Emma Raducanu to join Ons Jabeur at Mubadala Abu Dhabi Open


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Former US Open champion Emma Raducanu will compete at the second edition of the Mubadala Abu Dhabi Open next month, organisers confirmed on Monday.

The British former world No 10 is the third big name to be announced for the WTA 500 tournament, following Tunisian star Ons Jabeur and Brazil's world No 11 Beatriz Haddad Maia.

“I’m looking forward to competing at the Mubadala Abu Dhabi Open in February alongside a very strong field," Raducanu, 21, said.

“The first edition of the event was a big success and I’m sure this year’s tournament will be equally as exciting. I can’t wait to come back and perform in front of the Abu Dhabi tennis fans again.”

The Mubadala Abu Dhabi Open will take place February 3-11 at the International Tennis Centre at Zayed Sports City. Switzerland's Belinda Bencic is the defending champion after she beat Russia's Liudmila Samsonova in the inaugural final.

Raducanu will arrive in the UAE during the early stages of her comeback from a long-term injury absence after undergoing surgery on her ankle and both wrists, forcing her to call time on her 2023 season in April.

She has shown promising signs already this season with a couple of strong performances at the Auckland Classic last week. The current world No 299 will gain automatic entry to next week's Australian Open under her protected ranking of 103.

Raducanu shot to prominence in 2021 when she defied all expectations to win the US Open at the age of 18 having entered the main draw as a qualifier, defeating Canada’s Leylah Fernandez in the final.

The victory ensured Raducanu became the first qualifier to win a Grand Slam tournament in the Open Era, doing so while not dropping a set.

“We are thrilled to announce that Emma Raducanu, will be competing at this year’s tournament," said Nigel Gupta, Tournament Director at the Mubadala Abu Dhabi Open.

“It’s great to see her back on court and competing at the highest level and we are hugely excited at the prospect of watching her play in Abu Dhabi.

“With the competition now less than one month away, excitement is really starting to build with the main draw entry list being revealed tomorrow.”

Raducanu will be part of a 28-player field competing at the Mubadala Abu Dhabi Open, with 18 direct acceptances through the entry list and six places available through qualification. There are also four wildcard entrants, which include Raducanu.

For more information and to purchase tickets for the tournament, visit www.mubadalaabudhabiopen.com.

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

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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.

The specs: McLaren 600LT

Price, base: Dh914,000

Engine: 3.8-litre twin-turbo V8

Transmission: Seven-speed automatic

Power: 600hp @ 7,500rpm

Torque: 620Nm @ 5,500rpm

Fuel economy 12.2.L / 100km

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

Profile of VoucherSkout

Date of launch: November 2016

Founder: David Tobias

Based: Jumeirah Lake Towers

Sector: Technology

Size: 18 employees

Stage: Embarking on a Series A round to raise $5 million in the first quarter of 2019 with a 20 per cent stake

Investors: Seed round was self-funded with “millions of dollars” 

How to donate

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

NYBL PROFILE

Company name: Nybl 

Date started: November 2018

Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono

Based: Dubai, UAE

Sector: Software Technology / Artificial Intelligence

Initial investment: $500,000

Funding round: Series B (raising $5m)

Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up 

US households add $601bn of debt in 2019

American households borrowed another $601 billion (Dh2.2bn) in 2019, the largest yearly gain since 2007, just before the global financial crisis, according to February data from the New York Federal Reserve Bank.

Fuelled by rising mortgage debt as homebuyers continued to take advantage of low interest rates, the increase last year brought total household debt to a record high, surpassing the previous peak reached in 2008 just before the market crash, according to the report.

Following the 22nd straight quarter of growth, American household debt swelled to $14.15 trillion by the end of 2019, the New York Fed said in its quarterly report.

In the final three months of the year, new home loans jumped to their highest volume since the fourth quarter of 2005, while credit cards and auto loans also added to the increase.

The bad debt load is taking its toll on some households, and the New York Fed warned that more and more credit card borrowers — particularly young people — were falling behind on their payments.

"Younger borrowers, who are disproportionately likely to have credit cards and student loans as their primary form of debt, struggle more than others with on-time repayment," New York Fed researchers said.

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

What is Bitcoin?

Bitcoin is the most popular virtual currency in the world. It was created in 2009 as a new way of paying for things that would not be subject to central banks that are capable of devaluing currency. A Bitcoin itself is essentially a line of computer code. It's signed digitally when it goes from one owner to another. There are sustainability concerns around the cryptocurrency, which stem from the process of "mining" that is central to its existence.

The "miners" use computers to make complex calculations that verify transactions in Bitcoin. This uses a tremendous amount of energy via computers and server farms all over the world, which has given rise to concerns about the amount of fossil fuel-dependent electricity used to power the computers. 

Updated: January 09, 2024, 5:23 AM