• This image provided by the Southwest Research Institute depicts the 'Lucy' spacecraft approaching an asteroid. It will be the first space mission to explore a diverse population of small bodies known as the Jupiter Trojan asteroids. AP Photo
    This image provided by the Southwest Research Institute depicts the 'Lucy' spacecraft approaching an asteroid. It will be the first space mission to explore a diverse population of small bodies known as the Jupiter Trojan asteroids. AP Photo
  • Nasa's Double Asteroid Redirection Test 'Dart' spacecraft will crash into an asteroid as part of a planetary defence experiment. The launch is scheduled for November 23. Photo: Nasa
    Nasa's Double Asteroid Redirection Test 'Dart' spacecraft will crash into an asteroid as part of a planetary defence experiment. The launch is scheduled for November 23. Photo: Nasa
  • This artist's illustration obtained from Nasa shows the 'Dart' spacecraft and the Italian Space Agency’s LICIACube prior to impact at the Didymos binary system. AFP
    This artist's illustration obtained from Nasa shows the 'Dart' spacecraft and the Italian Space Agency’s LICIACube prior to impact at the Didymos binary system. AFP
  • A United Launch Alliance Atlas V rocket carrying the 'Lucy' spacecraft lifts off from Launch Complex 41 at the Cape Canaveral Space Force Station. AP Photo
    A United Launch Alliance Atlas V rocket carrying the 'Lucy' spacecraft lifts off from Launch Complex 41 at the Cape Canaveral Space Force Station. AP Photo
  • 'Lucy' will observe Trojan asteroids, a unique family of asteroids that orbit the sun in front of and behind Jupiter. AP Photo
    'Lucy' will observe Trojan asteroids, a unique family of asteroids that orbit the sun in front of and behind Jupiter. AP Photo
  • The United Launch Alliance Atlas V rocket with the 'Lucy' spacecraft takes off. EPA
    The United Launch Alliance Atlas V rocket with the 'Lucy' spacecraft takes off. EPA

Asteroid bigger than Burj Khalifa flies over UAE


Sarwat Nasir
  • English
  • Arabic

An asteroid larger than Burj Khalifa safely passed by Earth last night and in the early hours of Wednesday.

Known as asteroid (7482) 1994 PC1, the space rock measures 1.05 kilometres across, while the world’s tallest building in Dubai stands at 0.83km.

It flew past the planet from a distance of 1.9 million km, which is five times the distance between the Earth and the Moon.

It flew over the UAE at a speed of about 76,192kph.

Astrophotographers live-streamed footage of the space rock’s journey.

Roy Cooper / The National
Roy Cooper / The National

The space rock will not come this close to Earth for the next 200 years.

Asteroids are rocky leftovers from the formation of the early system. More than 1.1 million have been found but many remain undiscovered.

Scottish-Australian astronomer Robert McNaught discovered this one in 1994.

An astrophotographer in Abu Dhabi had been tracking its journey.

Aldrin Gabuya from the Al Sadeem Observatory captured footage of the space rock on January 16, as it approached Earth.

“Unlike the planet-killer comet in the Don't Look Up movie, asteroid 7482 (1994 PC1) will safely zoom past us,” the observatory tweeted.

“Not too close to collide with our planet, but not too far to be observed with a small scope.”

Astronomers around the world regularly track asteroids to ensure none of them are a threat to the Earth.

To test Earth’s defences against any threats from space rocks, Nasa launched a spacecraft last year that would intentionally crash into an asteroid to see if it could be deflected off course.

The Double Asteroid Redirection Test (Dart) mission will involve Didymos and Dimorphos, a binary asteroid system about 11 million km from Earth.

Dimorphos will be struck by the spacecraft between September and October, with the aim of changing its path.

Last year Nasa launched its Lucy spacecraft, which will visit eight asteroids over 12 years to study the evolution of the solar system.

It will fly by one Main Belt asteroid and seven Trojan asteroids. These are leftover parts of planets that are travelling in an orbit before and behind Jupiter.

The UAE also announced plans last year to launch a mission to the Main Asteroid Belt, and a Venus fly-by.

Company Profile:

Name: The Protein Bakeshop

Date of start: 2013

Founders: Rashi Chowdhary and Saad Umerani

Based: Dubai

Size, number of employees: 12

Funding/investors:  $400,000 (2018) 

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

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

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

AL%20BOOM
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'Shakuntala Devi'

Starring: Vidya Balan, Sanya Malhotra

Director: Anu Menon

Rating: Three out of five stars

The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

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

THE CARD

2pm: Maiden Dh 60,000 (Dirt) 1,400m

2.30pm: Handicap Dh 76,000 (D) 1,400m

3pm: Handicap Dh 64,000 (D) 1,200m

3.30pm: Shadwell Farm Conditions Dh 100,000 (D) 1,000m

4pm: Maiden Dh 60,000 (D) 1,000m

4.30pm: Handicap 64,000 (D) 1,950m

UAE rugby season

FIXTURES

West Asia Premiership

Dubai Hurricanes v Dubai Knights Eagles

Dubai Tigers v Bahrain

Jebel Ali Dragons v Abu Dhabi Harlequins

UAE Division 1

Dubai Sharks v Dubai Hurricanes II

Al Ain Amblers v Dubai Knights Eagles II

Dubai Tigers II v Abu Dhabi Saracens

Jebel Ali Dragons II v Abu Dhabi Harlequins II

Sharjah Wanderers v Dubai Exiles II

 

LAST SEASON

West Asia Premiership

Winners – Bahrain

Runners-up – Dubai Exiles

UAE Premiership

Winners – Abu Dhabi Harlequins

Runners-up – Jebel Ali Dragons

Dubai Rugby Sevens

Winners – Dubai Hurricanes

Runners-up – Abu Dhabi Harlequins

UAE Conference

Winners – Dubai Tigers

Runners-up – Al Ain Amblers

Director: Jon Favreau

Starring: Donald Glover, Seth Rogen, John Oliver

Rating: 2 out of 5 stars

Honeymoonish
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UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Name: Akeed

Based: Muscat

Launch year: 2018

Number of employees: 40

Sector: Online food delivery

Funding: Raised $3.2m since inception 

The years Ramadan fell in May

1987

1954

1921

1888

Updated: January 20, 2022, 8:04 AM