The UAE has issued a commemorative stamp to celebrate the formation of the Gulf Co-operation Council more than 40 years ago.
Emirates Post launched the memento in partnership with postal groups across the Gulf to recognise the achievements of the body in bolstering ties in the region.
The striking souvenir features the rulers of the six founding members of the Emirates, Saudi Arabia, Bahrain, Qatar, Kuwait and Oman who held the historic first summit at the InterContinental hotel in Abu Dhabi on May 25, 1981.
The flags of the countries and the GCC logo are also displayed.
The inaugural GCC meeting 41 years ago began with a Quran recitation, following which the UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, gave an opening address.
-

Russian Foreign Minister Sergey Lavrov attends the fifth Gulf Co-operation Council-Russia Joint Ministerial Meeting for Strategic Dialogue in Riyadh, Saudi Arabia. Reuters -

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and International Co-operation, attends the GCC-Russia dialogue in Riyadh. Wam -

Mr Lavrov, right, and his Saudi counterpart Prince Faisal bin Farhan Al Saud during the meeting. AFP -

Mr Lavrov began a tour of the region in Bahrain on Monday, where he met King Hamad and Foreign Minister Abdullatif Al Zayani. Reuters -

After the Russian minister arrived in Riyadh, Prince Faisal spoke about Saudi Arabia's willingness to make the necessary efforts to contribute to a political solution in Ukraine. AFP -

Right to left: Mr Lavrov and his Gulf counterparts, Sheikh Abdullah, Bahrain's Abdullatif Al Zayani, Saudi Arabia's Prince Faisal, Oman's Sayyid Badr Al Busaidi, Qatar's Sheikh Mohammed bin Abdulrahman Al Thani, Kuwait's Sheikh Ahmed Nasser Al Mohammed Al Sabah, and Secretary General of the GCC Nayef Al Hajraf, pose for a picture during the GCC meeting. AFP
The rulers then signed a document establishing the GCC. After all six had signed, the room filled with applause.
The historic gathering ushered in a crucial era of collaboration.
The bloc continues to work as one to champion development in the Gulf across a wide variety of fields and address key issues in the region.
“It is an honour for us to work with the postal administrations within the Gulf Co-operation Council to issue the commemorative postal stamp celebrating the GCC's 40th anniversary,” said Abdulla Alashram, group chief executive of Emirates Post Group.
“The stamp highlights the long-standing alliances and brotherhood that bind the people of the Gulf states together.
“We further hope to accomplish a qualitative shift in the collaboration and integration for achieving the strategic interests of the GCC states and highlight the council’s remarkable efforts in enhancing co-operation and co-ordination in all the areas."
RESULTS
While you're here
Hussein Ibish: There are reasons for Democrats and Republicans to be happy
Rashmee Roshan Lall: Who are the women driving Joe Biden's success?
On Women's Day
Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action
Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
The National Editorial: Is there much to celebrate on International Women's Day 2021?
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
The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
Teams
India (playing XI): Virat Kohli (c), Ajinkya Rahane, Rohit Sharma, Mayank Agarwal, Cheteshwar Pujara, Hanuma Vihari, Ravichandran Ashwin, Ravindra Jadeja, Wriddhiman Saha (wk), Ishant Sharma, Mohammed Shami
South Africa (squad): Faf du Plessis (c), Temba Bavuma, Theunis de Bruyn, Quinton de Kock, Dean Elgar, Zubayr Hamza, Keshav Maharaj, Aiden Markram, Senuran Muthusamy, Lungi Ngidi, Anrich Nortje, Vernon Philander, Dane Piedt, Kagiso Rabada, Rudi Second
Kareem Shaheen on Canada
On Women's Day
Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
The National Editorial: Is there much to celebrate on International Women's Day 2021?
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
RESULTS
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
JOKE'S%20ON%20YOU
What is 'Soft Power'?
Soft power was first mentioned in 1990 by former US Defence Secretary Joseph Nye.
He believed that there were alternative ways of cultivating support from other countries, instead of achieving goals using military strength.
Soft power is, at its root, the ability to convince other states to do what you want without force.
This is traditionally achieved by proving that you share morals and values.

