A political solution is required to restore peace in Ukraine, Dr Anwar Gargash has told the World Policy Conference in Abu Dhabi.
Political leaders and analysts have met for the three-day forum to discuss international issues and promote a fairer, more prosperous world.
Russia’s conflict with Ukraine is estimated to have caused more than 200,000 deaths, with both countries suffering severe economic damage — and the rest of the world has felt the fallout.
The world today is more dangerous and more complicated. We are less assured of stability
Dr Anwar Gargash,
diplomatic adviser to the UAE President
Dr Gargash, diplomatic adviser to the UAE President, said talks were the only way to restore peace and begin the global economic recovery.
"This Ukraine war has been an earthquake in international politics,” he said.
“Our position on Ukraine is clear. It is too simplistic to say we are neutral on Ukraine. The UAE is not neutral.
“The UAE is affected by the crisis and it is trying to find the right balance between our principles of security, stability and prosperity, and the necessity to find a political solution to the war.
“We do not think the crisis can be resolved militarily. We have seen this in World War One with the Versailles Treaty, when a country is defeated but rises again to change the international order.
“From this perspective, it is necessary to find a solution to the war in Ukraine.”
Dr Gargash said evolving threats to stability and security in the region changed the way the UAE viewed its strategic allies, with diplomacy a more important tool in maintaining peace than ever before.
Drone attacks on the UAE and Saudi Arabia, along with emerging threats to cyber security, have presented major challenges.
“The world today is more dangerous and more complicated. We are less assured of stability,” said Dr Gargash.
“We have always had a US support for security in the region, but is that going to be assured for the next 30 years?
“That is one of the big challenges. The region is more concerned of specific threats now.
“I don’t see a scenario like what happened with Kuwait, but more specific threats like terrorism, Afghanistan and Yemen, as well as cyber warfare, drones and missiles.”
Black swan events shook the globe
The forum was also told how the UAE emerged from a period of global turmoil and was now planning for the future.
Khaldoon Al Mubarak, chairman of the Executive Affairs Authority and group chief executive and managing director of Mubadala, said a long-term plan for growth would help the UAE to tackle the effects of major international events such as the Covid-19 pandemic and the war in Ukraine.
“It has been a remarkable period since January 2020, with black swan events occurring in a short period of time that shook the entire globe,” he said.
“In everything we talk about going forward, we must consider the impact of Covid and a series of economic measures by governments that were unprecedented and the Russia-Ukraine war.
“The sanctions and geopolitical shift following that has had a huge impact.
“We have had to navigate these waters, navigate the storms and prepare for the future.”
Globalisation faces challenges
Mr Al Mubarak said principles of globalisation and collaboration were seriously tested in the early months of the pandemic, as nations looked to solve their problems at the cost of others.
It was only when the world came together to develop vaccines that the global recovery could begin.
“PPE was being hoarded and we learnt that did not work,” Mr Al Mubarak said.
“When the world started collaboration on vaccines, medical supplies and measures we were able to pull out of the pandemic.
“Globalisation is not dead but it is facing one of its biggest challenges.
"A new form of globalisation is emerging and it will shape itself along the China-US divide, Russian sanctions, the rise of India and the reconstruction of supply chains.
“The UAE is built on open trade and we support globalisation.
“Regardless of how this plays out, the UAE will do well, as we will continue to have a constructive approach to trading with the world.”
SERIE A FIXTURES
Saturday
AC Milan v Sampdoria (2.30pm kick-off UAE)
Atalanta v Udinese (5pm)
Benevento v Parma (5pm)
Cagliari v Hellas Verona (5pm)
Genoa v Fiorentina (5pm)
Lazio v Spezia (5pm)
Napoli v Crotone (5pm)
Sassuolo v Roma (5pm)
Torino v Juventus (8pm)
Bologna v Inter Milan (10.45pm)
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 Old Slave and the Mastiff
Patrick Chamoiseau
Translated from the French and Creole by Linda Coverdale
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
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The specs: 2018 Chevrolet Trailblazer
Price, base / as tested Dh99,000 / Dh132,000
Engine 3.6L V6
Transmission: Six-speed automatic
Power 275hp @ 6,000rpm
Torque 350Nm @ 3,700rpm
Fuel economy combined 12.2L / 100km
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The specs
Engine 60kwh FWD
Battery Rimac 120kwh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry
Power 204hp Torque 360Nm
Price, base / as tested Dh174,500
US%20federal%20gun%20reform%20since%20Sandy%20Hook
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Global institutions: BlackRock and KKR
US-based BlackRock is the world's largest asset manager, with $5.98 trillion of assets under management as of the end of last year. The New York firm run by Larry Fink provides investment management services to institutional clients and retail investors including governments, sovereign wealth funds, corporations, banks and charitable foundations around the world, through a variety of investment vehicles.
KKR & Co, or Kohlberg Kravis Roberts, is a global private equity and investment firm with around $195 billion of assets as of the end of last year. The New York-based firm, founded by Henry Kravis and George Roberts, invests in multiple alternative asset classes through direct or fund-to-fund investments with a particular focus on infrastructure, technology, healthcare, real estate and energy.
LA LIGA FIXTURES
Friday Athletic Bilbao v Celta Vigo (Kick-off midnight UAE)
Saturday Levante v Getafe (5pm), Sevilla v Real Madrid (7.15pm), Atletico Madrid v Real Valladolid (9.30pm), Cadiz v Barcelona (midnight)
Sunday Granada v Huesca (5pm), Osasuna v Real Betis (7.15pm), Villarreal v Elche (9.30pm), Alaves v Real Sociedad (midnight)
Monday Eibar v Valencia (midnight)
SPEC%20SHEET
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Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
More from Neighbourhood Watch:
Five expert hiking tips
- Always check the weather forecast before setting off
- Make sure you have plenty of water
- Set off early to avoid sudden weather changes in the afternoon
- Wear appropriate clothing and footwear
- Take your litter home with you
READ MORE ABOUT CORONAVIRUS
How to turn your property into a holiday home
- Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
- Research equivalent Airbnb homes in your location to ensure competitiveness.
- Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
- Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
- Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.