The Middle East is likely to experience less rainfall but an increase in the number of extreme downpours because of climate change, experts have said.
Flooding is likely to increase, said Karim Elgendy, an associate fellow in the climate and environment programme at Chatham House in London, as part of an Intergovernmental Panel on Climate Change (IPCC) briefing.
While climate change will, on average, increase rainfall globally, Mr Elgendy said the Middle East would be an exception.
“We’re going to get longer droughts and when it does rain, it’s going to rain in a flooding manner,” he said.
“Then you have sea-level rises,” he added. “In the Nile Delta, we’re going to expect a dramatic impact, especially in the Nile, which is below sea level.”
There will be “secondary impacts” on agriculture, tourism and development, with “tertiary impacts” on social structures, migration and resource demand, although Mr Elgendy said forecasting these was difficult.
Middle East second-most affected region by rising temperatures
Mr Elgendy was speaking at a Mena region briefing before Monday's release of the Synthesis Report of the IPCC's Sixth Assessment Report, which summarises the current situation regarding climate change.
Released following final discussions between experts in Switzerland, the report indicates that the world is falling far short of its climate change targets if global temperature rises are not to exceed 1.5°C above pre-industrial levels.
This has happened ahead of Cop28, the IPCC climate-change gathering to be held in the UAE later this year — the second successive Cop in the Mena region, with Cop27 having taken place in Sharm El Sheikh in Egypt last year.
Mr Elgendy indicated that this focus on the region was appropriate, as the Eastern Mediterranean and Middle East would experience the largest increases in temperature as a result of climate change of any inhabited region, with only the Arctic, which despite its vast size is inhabited by only 4 million people, facing faster rises.
Cop28 will involve three key elements, according to Mr Elgendy, including a global stocktake of progress since the Paris Agreement on climate change drafted in 2015.
Also expected, he said, was a global agreement on adaptation, or how countries will respond to climate change, and the finalisation of a deal on loss and damage, in which poorer countries severely affected by climate change will be given financial support to cope with its consequences.
“All these things mean Cop28 is where most pending issues will get resolved,” he said. “It means we have fewer things to negotiate.”
'A Cop for action'
Mr Elgendy, who founded Carboun, an initiative that promotes sustainability in Middle Eastern cities, said Cop28 could mark a transition in the nature of climate conferences if the focus is more on assessing and promoting action to combat climate change, instead of forging agreements on what needs to be done.
“Cop 28 could be a Cop for action,” he said. “It could start a transition in what the Cop is [about] … it’s something that’s largely about encouraging climate action.”
However, he said the world is set to overshoot the target of limiting global temperature rises to 1.5°C, so greater ambition is needed.
“If we hit all the voluntary targets by 2050, maybe we’ll get to 2°C but we’re certainly off target for 1.5°C,” he said.
“The process … isn’t going fast enough and time is running out. Emissions grew by 1 per cent last year and it was nothing to do with Covid recovery.”
He said the UAE’s climate policy appeared “unorthodox” but that it had largely been followed by the rest of the GCC.
The country, he said, is keen to diversify its economy away from oil and gas, funded by revenue from the petroleum sector.
Investment in renewable and nuclear energy, Mr Elgendy said, had allowed the country to reduce its own petroleum consumption.
This, in turn, means that exports can be maximised — justified not only in the UAE but in the GCC as a whole — on the basis that oil and gas extraction is less carbon-intensive in the Gulf than in many other parts of the world, he said.
“The UAE and Saudi position is … we should be the last producers standing, because the oil … requires less energy to get it out of the ground,” he said.
Another speaker, Camille Ammoun, an associate fellow at the American University of Beirut, said GCC countries had an economic interest to engage in efforts to mitigate climate change, as well as the financial means to drive green projects. They also have an interest in doing so because of the environmental effects of climate change.
“The Gulf countries have the interest and means to go further,” he said, although these nations are “still very reliant on fossil-fuel extraction.”
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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
WHAT%20IS%20'JUICE%20JACKING'%3F
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The bio
His favourite book - 1984 by George Orwell
His favourite quote - 'If you think education is expensive, try ignorance' by Derek Bok, Former President of Harvard
Favourite place to travel to - Peloponnese, Southern Greece
Favourite movie - The Last Emperor
Favourite personality from history - Alexander the Great
Role Model - My father, Yiannis Davos
The Limehouse Golem
Director: Juan Carlos Medina
Cast: Olivia Cooke, Bill Nighy, Douglas Booth
Three stars
Fitness problems in men's tennis
Andy Murray - hip
Novak Djokovic - elbow
Roger Federer - back
Stan Wawrinka - knee
Kei Nishikori - wrist
Marin Cilic - adductor
The Gentlemen
Director: Guy Ritchie
Stars: Colin Farrell, Hugh Grant
Three out of five stars
%20Ramez%20Gab%20Min%20El%20Akher
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
COMPANY PROFILE
Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WallyGPT%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2014%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESaeid%20and%20Sami%20Hejazi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%3Cbr%3E%3Cstrong%3EInvestment%20raised%3A%20%3C%2Fstrong%3E%247.1%20million%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2020%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%20round%3C%2Fp%3E%0A
Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
School counsellors on mental well-being
Schools counsellors in Abu Dhabi have put a number of provisions in place to help support pupils returning to the classroom next week.
Many children will resume in-person lessons for the first time in 10 months and parents previously raised concerns about the long-term effects of distance learning.
Schools leaders and counsellors said extra support will be offered to anyone that needs it. Additionally, heads of years will be on hand to offer advice or coping mechanisms to ease any concerns.
“Anxiety this time round has really spiralled, more so than from the first lockdown at the beginning of the pandemic,” said Priya Mitchell, counsellor at The British School Al Khubairat in Abu Dhabi.
“Some have got used to being at home don’t want to go back, while others are desperate to get back.
“We have seen an increase in depressive symptoms, especially with older pupils, and self-harm is starting younger.
“It is worrying and has taught us how important it is that we prioritise mental well-being.”
Ms Mitchell said she was liaising more with heads of year so they can support and offer advice to pupils if the demand is there.
The school will also carry out mental well-being checks so they can pick up on any behavioural patterns and put interventions in place to help pupils.
At Raha International School, the well-being team has provided parents with assessment surveys to see how they can support students at home to transition back to school.
“They have created a Well-being Resource Bank that parents have access to on information on various domains of mental health for students and families,” a team member said.
“Our pastoral team have been working with students to help ease the transition and reduce anxiety that [pupils] may experience after some have been nearly a year off campus.
"Special secondary tutorial classes have also focused on preparing students for their return; going over new guidelines, expectations and daily schedules.”