Dana White arrives at the ceremonial weigh in before UFC 280 in Abu Dhabi. Chris Whiteoak / The National
Dana White arrives at the ceremonial weigh in before UFC 280 in Abu Dhabi. Chris Whiteoak / The National
Dana White arrives at the ceremonial weigh in before UFC 280 in Abu Dhabi. Chris Whiteoak / The National
Dana White arrives at the ceremonial weigh in before UFC 280 in Abu Dhabi. Chris Whiteoak / The National

Dana White 'excited' to continue Abu Dhabi love affair as future UFC plans take shape


John McAuley
  • English
  • Arabic

Dana White says the UFC will put on fights in Abu Dhabi for “the rest of my life”, with multiple events per year “absolutely, positively going to happen” in future.

The world’s lead mixed martial arts promotion returns to the capital on Saturday night with UFC 280 at Etihad Arena, when Charles Oliveira and Islam Makhachev headline one of the most-talent rich cards in recent memory.

Oliveira and Makhachev face off for the vacant lightweight title, with the bill also featuring a championship bout between bantamweight belt-holder Aljamain Sterling and former two-time champion TJ Dillashaw.

Meanwhile, the hugely popular Sean O’Malley takes on former title-holder Petr Yan, while the likes of Belal Muhammad, Sean Brady, Beneil Dariush, Mateusz Gamrot and top prospect Muhammad Mokaev also compete.

“You know how I feel about Abu Dhabi, I love this place,” White told The National. "Every time we come here, we like to deliver. The powers that be in this country have always been very good to us.

“This is like our marquee event of the year. We always want to bring the biggest and the brightest here to Abu Dhabi.”

The relationship between the UFC and the capital dates back to before the promotion held its first event in the emirate, in 2010. It has since strengthened with a five-year partnership signed in 2019 with the Department of Culture and Tourism – the agreement guaranteed one title fight, at least, each year – and the introduction of the Fight Island series in response to the Covid-19 pandemic. UFC 280 will be the promotion’s 15th event in Abu Dhabi since 2019.

Last year, during UFC 267, White told The National he was close to finalising a deal with Abu Dhabi that would be a “total game-changer for all of combat sports, not just the UFC”. On Friday, he said those plans were very much on track.

“Literally had the meeting this afternoon again,” White said. “This thing’s taken a little bit longer than expected unfortunately, but everything’s going in the right direction.

“Our relationship here couldn’t be better. I’ve got a 15- or 16-year incredible relationship with this country. You know how much I love it here. So I’m excited about the things that we’re going to do together in the future.”

  • Charles Oliveira and Islam Makhachev at the ceremonial weigh in before their lightweight title fight at UFC 280 in Abu Dhabi. Chris Whiteoak / The National
    Charles Oliveira and Islam Makhachev at the ceremonial weigh in before their lightweight title fight at UFC 280 in Abu Dhabi. Chris Whiteoak / The National
  • Charles Oliveira at the ceremonial weigh in before his title fight with Islam Makhachev at UFC 280. Chris Whiteoak / The National
    Charles Oliveira at the ceremonial weigh in before his title fight with Islam Makhachev at UFC 280. Chris Whiteoak / The National
  • Charles Oliveira weighs in before his lightweight title fight at UFC 280 in Abu Dhabi against Islam Makhachev. Chris Whiteoak / The National
    Charles Oliveira weighs in before his lightweight title fight at UFC 280 in Abu Dhabi against Islam Makhachev. Chris Whiteoak / The National
  • Islam Makhachev weighs in before his lightweight title fight at UFC 280 against Charles Oliveira in Abu Dhabi. Both fighters weighed an identical 154.5lbs. Chris Whiteoak / The National
    Islam Makhachev weighs in before his lightweight title fight at UFC 280 against Charles Oliveira in Abu Dhabi. Both fighters weighed an identical 154.5lbs. Chris Whiteoak / The National
  • Brazil's Charles Oliveira points to the sky at the official weigh-in for UFC 280. Chris Whiteoak / The National
    Brazil's Charles Oliveira points to the sky at the official weigh-in for UFC 280. Chris Whiteoak / The National
  • Dagestan fight Islam Makhachev weighs in at UFC 280. Chris Whiteoak / The National
    Dagestan fight Islam Makhachev weighs in at UFC 280. Chris Whiteoak / The National
  • Alexnder Volkanovski weighs in as the back up for the main event at UFC 280 in Abu Dhabi. Chris Whiteoak / The National
    Alexnder Volkanovski weighs in as the back up for the main event at UFC 280 in Abu Dhabi. Chris Whiteoak / The National
  • UFC bantamweight champion Aljamain Sterling roars after making weight fr his championship fight against TJ Dillashaw at UFC 280 in Abu Dhabi. Chris Whiteoak / The National
    UFC bantamweight champion Aljamain Sterling roars after making weight fr his championship fight against TJ Dillashaw at UFC 280 in Abu Dhabi. Chris Whiteoak / The National
  • TJ Dillashaw weighed in at 135lbs for his title fight against Aljamain Sterling in Abu Dhabi. Chris Whiteoak / The National
    TJ Dillashaw weighed in at 135lbs for his title fight against Aljamain Sterling in Abu Dhabi. Chris Whiteoak / The National
  • UFC bantamweight champion Aljamain Sterling weighs in at 135lbs. Chris Whiteoak / The National
    UFC bantamweight champion Aljamain Sterling weighs in at 135lbs. Chris Whiteoak / The National
  • Sean O'Malley weighed in at 135.5lbs at the official weigh-in for his bantamweight contest against Petr Jan at UFC 280. Chris Whiteoak / The National
    Sean O'Malley weighed in at 135.5lbs at the official weigh-in for his bantamweight contest against Petr Jan at UFC 280. Chris Whiteoak / The National
  • Petr Yan tipped the scales at 136lbs. Chris Whiteoak / The National
    Petr Yan tipped the scales at 136lbs. Chris Whiteoak / The National
  • Sean O'Malley poses on the scales.
    Sean O'Malley poses on the scales.
  • Caio Borralho weighs in before his fight at UFC 280 against Makhmud Muradov. Chris Whiteoak / The National
    Caio Borralho weighs in before his fight at UFC 280 against Makhmud Muradov. Chris Whiteoak / The National
  • Belal Muhammad weighs in at 170lbs ahead of his bout against Sean Brady. Chris Whiteoak / The National
    Belal Muhammad weighs in at 170lbs ahead of his bout against Sean Brady. Chris Whiteoak / The National
  • Manon Fiorot weighs in before her fight at UFC 280 against Katlyn Chookagian in Abu Dhabi. Fiorot weighed in at 125.5lbs. Chris Whiteoak / The National
    Manon Fiorot weighs in before her fight at UFC 280 against Katlyn Chookagian in Abu Dhabi. Fiorot weighed in at 125.5lbs. Chris Whiteoak / The National
  • Muhammad Mokaev weighs in before his fight against Malcolm Gordon at UFC 280 in Abu Dhabi. Mokaev weighed in at 126lbs. Chris Whiteoak / The National
    Muhammad Mokaev weighs in before his fight against Malcolm Gordon at UFC 280 in Abu Dhabi. Mokaev weighed in at 126lbs. Chris Whiteoak / The National
  • Gadzhi Omargadzhiev weighs in at 171lbs for his fight at UFC 280 against Abubakar Nurmagomedov. Chris Whiteoak / The National
    Gadzhi Omargadzhiev weighs in at 171lbs for his fight at UFC 280 against Abubakar Nurmagomedov. Chris Whiteoak / The National
  • Mateusz Gamrot weighs in before his fight against Beneil Dariush at UFC 280 in Abu Dhabi. Gamrot tipped the scales at 156lbs. Chris Whiteoak / The National
    Mateusz Gamrot weighs in before his fight against Beneil Dariush at UFC 280 in Abu Dhabi. Gamrot tipped the scales at 156lbs. Chris Whiteoak / The National
  • Nikita Krylov weighs in before his fight at UFC 280 against Volkan Oezdemir in Abu Dhabi. Chris Whiteoak / The National
    Nikita Krylov weighs in before his fight at UFC 280 against Volkan Oezdemir in Abu Dhabi. Chris Whiteoak / The National

White, who has previously spoken about opening a UFC Performance Institute in Abu Dhabi, described the meeting as “incredible”, but said he could not provide any details as to what the promotion is working on because “it wouldn’t be fair to everybody who’s working on these deals”.

On the 2019 agreement soon entering its final year, White said: “We’re in a great place. We’re going to be in Abu Dhabi for the rest of my life. One hundred per cent.”

Asked about the possibility of staging multiple events annually in Abu Dhabi, White said: “Yes. Absolutely, positively going to happen.”

As to whether that could be in place as early as next year, the American added: “You know our deal’s coming up – we just talked about it. So we’ll get all this stuff tied up and get it done. Wrapped up, I should say. It’s been tied up, now we get it wrapped up.”

Looking ahead to UFC 280, White said anticipation for the promotion’s latest pay-per-view event had been rapidly increasing all week.

Aljamain Sterling, left, puts his bantamweight title on the line against TJ Dillashaw in the other title fight at UFC 280. Chris Whiteoak / The National
Aljamain Sterling, left, puts his bantamweight title on the line against TJ Dillashaw in the other title fight at UFC 280. Chris Whiteoak / The National

“As far as excitement and energy and everything else, the entire world is buzzing about this fight,” he said. “The pay-per-views have been trending off the charts since Sunday.

Embedded [the behind-the-scenes, fight-week series] is doing over a million views in 24 hours as soon as it goes up. Every way you can gauge a fight this thing’s killing it.

“The card is awesome. The card is stacked. Just the main event alone: you have two of the absolute best in the world in their prime facing off for the title. It doesn’t get any better than that.”

Oliveira goes into the bout seeking to reclaim the lightweight title he relinquished for missing weight in May. The Brazilian, who has won his past 11 UFC fights and holds the promotion records for most finishes and most submissions, was stripped of the belt when he weighed in at half a pound over the 155lb limit ahead of his defence against Justin Gaethje at UFC 274. Oliveira went on to triumph by first-round submission.

“The guy is literally on the top of his game,” White said. “He flies under the radar, but he’s on an 11-fight win streak, finished 10 of his last 11 opponents, broken all these records in the division, and his confidence has never been higher.

“The guy absolutely, positively came into his own, and it’s his time. And he knows it and he feels it.”

In Makhachev, Oliveira faces the division’s No 4-ranked contender, currently on a 10-fight win streak. The Dagestani, long-time friend and teammate of retired former champion Khabib Nurmagomedov, competes for a UFC title for the first time.

“It’s huge [for Makhachev],” White said. “It’s been his dream, Khabib’s dad’s dream, and Khabib’s dream for a very long time. So Saturday night it’s going down and he’s going to get an opportunity.

“This was something they all dreamed of; Khabib’s father wanted Khabib to dominate the division and then, when he went away, he wanted Islam to come in and dominate. It’s this close to playing out the way they planned it.”

White did, though, concede that Makhachev will have to handle considerable pressure to perform on Saturday in front of what is expected to be a partisan crowd in his favour.

“Oliveira’s been in all the big fights,” White said. “He’s fought the who’s who; if you lay them side by side and look at it and start trying to make odds for the fight, the one thing you cannot gauge is the fact [Islam’s] never dealt with this kind of pressure before.

“Oliveira has. He hasn’t. I think that’s going a big deciding factor in the fight.”

In one of the night’s most intriguing bouts, O’Malley encounters the toughest challenge of his career to date. The American, the No 11th-ranked challenger at bantamweight, is already regarded as one of the most talented fighters in the sport. Yan, however, is the division’s No 1-ranked contender. The Russian held the belt last year before losing it to Sterling in March last year.

“[For O’Malley] this is the equivalent of Conor McGregor when he fought Jose Aldo,” White said. “Conor always had that thing about him that people loved, but whenever the big fights presented themselves, Conor went out and won. So that’s what O’Malley has to do tomorrow: he has to go out and beat Petr Yan.

“Me, probably you and everybody else in this world knows what an absolute savage Petr Yan is. So it’ll say a lot about O’Malley if he can beat him on Saturday.”

During an increasingly hostile build-up in Abu Dhabi this week, Yan labelled O’Malley a McGregor “wannabe”.

But White said: “I don’t think in any way, shape or form is O’Malley a Conor wannabe. They’re two very different and very unique guys. But if you want to compare him to Conor, you would compare the fact that he has the potential to be a global superstar like Conor.”

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Who's who in Yemen conflict

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Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

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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Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

Updated: October 22, 2022, 2:29 PM