• LAS VEGAS, NV - DECEMBER 08: Manny Pacquiao walks to the ring to take on Juan Manuel Marquez during their welterweight bout at the MGM Grand Garden Arena on December 8, 2012 in Las Vegas, Nevada. Al Bello/Getty Images/AFP== FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==
    LAS VEGAS, NV - DECEMBER 08: Manny Pacquiao walks to the ring to take on Juan Manuel Marquez during their welterweight bout at the MGM Grand Garden Arena on December 8, 2012 in Las Vegas, Nevada. Al Bello/Getty Images/AFP== FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==
  • Manny Pacquiao prays in the ring before taking against Juan Manuel Marquez. Al Bello / Getty Images
    Manny Pacquiao prays in the ring before taking against Juan Manuel Marquez. Al Bello / Getty Images
  • Manny Pacquiao, right, throws a right at Juan Manuel Marquez, left, during their welterweight bout at the MGM Grand Garden Arena. Al Bello / Getty Images
    Manny Pacquiao, right, throws a right at Juan Manuel Marquez, left, during their welterweight bout at the MGM Grand Garden Arena. Al Bello / Getty Images
  • Juan Manuel Marquez, right, lands a right to the head of Manny Pacquiao during their WBO world welterweight. Julie Jacobson / AP Photo
    Juan Manuel Marquez, right, lands a right to the head of Manny Pacquiao during their WBO world welterweight. Julie Jacobson / AP Photo
  • Manny Pacquiao, left, falls to to canvas after taking a punch from Juan Manuel Marquez in the 3rd round of their welterweight fight. John Gurzinski / AFP Photo
    Manny Pacquiao, left, falls to to canvas after taking a punch from Juan Manuel Marquez in the 3rd round of their welterweight fight. John Gurzinski / AFP Photo
  • Manny Pacquiao is knocked down in the third round while taking on Juan Manuel Marquez during their welterweight bout. Al Bello / Getty Images
    Manny Pacquiao is knocked down in the third round while taking on Juan Manuel Marquez during their welterweight bout. Al Bello / Getty Images
  • Referee Kenny Bayless, left, directs Juan Manuel Marquez, right, to a corner as Manny Pacquiao sits on the mat after being knocked down by Marquez in the third round during their welterweight fight. Julie Jacobson / AP Photo
    Referee Kenny Bayless, left, directs Juan Manuel Marquez, right, to a corner as Manny Pacquiao sits on the mat after being knocked down by Marquez in the third round during their welterweight fight. Julie Jacobson / AP Photo
  • Referee Kenny Bayless gestures to Manny Pacquiao after Pacquiao was knocked down by Juan Manuel Marquez in the third round of their welterweight fight. Steve Marcus / Reuters
    Referee Kenny Bayless gestures to Manny Pacquiao after Pacquiao was knocked down by Juan Manuel Marquez in the third round of their welterweight fight. Steve Marcus / Reuters
  • Trainer Freddie Roach, left, talks with Manny Pacquiao between rounds against Juan Manuel Marquez during their welterweight bout. Al Bello / Getty Images
    Trainer Freddie Roach, left, talks with Manny Pacquiao between rounds against Juan Manuel Marquez during their welterweight bout. Al Bello / Getty Images
  • Manny Pacquiao, left, and Juan Manuel Marquez, right, exchange blows during their welterweight bout. Al Bello / Getty Images
    Manny Pacquiao, left, and Juan Manuel Marquez, right, exchange blows during their welterweight bout. Al Bello / Getty Images
  • Juan Manuel Marquez, left, throws a left to the face of Manny Pacquiao. Al Bello / Getty Images
    Juan Manuel Marquez, left, throws a left to the face of Manny Pacquiao. Al Bello / Getty Images
  • Manny Pacquiao, left, watches as Juan Manuel Marquez, right, is knocked down in the fifth round. Steve Marcus / Reuters
    Manny Pacquiao, left, watches as Juan Manuel Marquez, right, is knocked down in the fifth round. Steve Marcus / Reuters
  • Manny Pacquiao, left, sends Juan Manuel Marquez to the mat in the fifth round of their WBO world welterweight fight. Eric Jamison / AP Photo
    Manny Pacquiao, left, sends Juan Manuel Marquez to the mat in the fifth round of their WBO world welterweight fight. Eric Jamison / AP Photo
  • Referee Kenny Bayless gives a count to Juan Manuel Marquez of Mexico after Marquez was knocked down by Manny Pacquiao in the fifth round. Steve Marcus / Reuters
    Referee Kenny Bayless gives a count to Juan Manuel Marquez of Mexico after Marquez was knocked down by Manny Pacquiao in the fifth round. Steve Marcus / Reuters
  • Manny Pacquiao of the Philippines is treated in his corner between rounds during his welterweight fight against Juan Manuel Marquez. Steve Marcus / Reuters
    Manny Pacquiao of the Philippines is treated in his corner between rounds during his welterweight fight against Juan Manuel Marquez. Steve Marcus / Reuters
  • Manny Pacquiao, left, and Juan Manuel Marquez, right, trade blows during their WBO world welterweight fight. Eric Jamison / AP Photo
    Manny Pacquiao, left, and Juan Manuel Marquez, right, trade blows during their WBO world welterweight fight. Eric Jamison / AP Photo
  • Juan Manuel Marquez, left, and Manny Pacquiao,right, trade blows during their WBO world welterweight fight. Eric Jamison / AP Photo
    Juan Manuel Marquez, left, and Manny Pacquiao,right, trade blows during their WBO world welterweight fight. Eric Jamison / AP Photo
  • Juan Manuel Marquez, right, knocks out Manny Pacquiao, left, in the sixth round of their WBO world welterweight fight. Julie Jacobson / AP Photo
    Juan Manuel Marquez, right, knocks out Manny Pacquiao, left, in the sixth round of their WBO world welterweight fight. Julie Jacobson / AP Photo
  • Juan Manuel Marquez, right, steps away after knocking out Manny Pacquiao of the Philippines, bottom, in the 6th round during their welterweight figh. Steve Marcus / Reuters
    Juan Manuel Marquez, right, steps away after knocking out Manny Pacquiao of the Philippines, bottom, in the 6th round during their welterweight figh. Steve Marcus / Reuters
  • Referee Kenny Bayless, cetner, looks towards Manny Pacquiao, left, as he lies face down on the mat after being knocked out by Juan Manuel Marquez. John Gurzinski / AFP
    Referee Kenny Bayless, cetner, looks towards Manny Pacquiao, left, as he lies face down on the mat after being knocked out by Juan Manuel Marquez. John Gurzinski / AFP
  • Manny Pacquiao lays face down on the mat after being knocked out in the sixth round as Juan Manuel Marquez celebrates during their welterweight bout. Al Bello / Getty Images
    Manny Pacquiao lays face down on the mat after being knocked out in the sixth round as Juan Manuel Marquez celebrates during their welterweight bout. Al Bello / Getty Images
  • Juan Manuel Marquez celebrates his win over Manny Pacquiao following their WBO world welterweight fight. Eric Jamison / AP Photo
    Juan Manuel Marquez celebrates his win over Manny Pacquiao following their WBO world welterweight fight. Eric Jamison / AP Photo
  • Manny Pacquiao, right, stands in the ring with Juan Manuel Marquez, left, after losing by a knockout in their WBO world welterweight fight. Julie Jacobson / AP Photo
    Manny Pacquiao, right, stands in the ring with Juan Manuel Marquez, left, after losing by a knockout in their WBO world welterweight fight. Julie Jacobson / AP Photo
  • Juan Manuel Marquez wears the WBO world welterweight belt as his fist is raised by referee Kenny Bayless after his sixth round knockout of Manny Pacquiao. Julie Jacobson / AP Photo
    Juan Manuel Marquez wears the WBO world welterweight belt as his fist is raised by referee Kenny Bayless after his sixth round knockout of Manny Pacquiao. Julie Jacobson / AP Photo

Long Shot: Pacquiao stunned by Marquez


  • English
  • Arabic

Manny Pacquiao was knocked out by Juan Manuel Marquez in the sixth round of their WBO World Welterweight Championship Fight in Las Vegas Nevada on Saturday, December 8, 2012. Pacquiao leaned into a heavy right cross fired directly into his face and went down hard on the canvas at the MGM Grand. He remained motionless for roughly two minutes before his handlers helped him to his feet. He had been leading by one point on the scorecards of all three judges, but the fight was a busy and active one.

Pacquiao had been knocked down in the third round, but it was Marquez who went down in the fifth. “I got hit by a punch I didn’t see,” Pacquiao confessed.

“I threw a perfect punch,” Marquez said. “I knew Manny could knock me out at any time.” Marquez had vowed to finally beat Pacquiao after losing two close fights and settling for a draw in the first fight, but after Pacquiao knocked him down in the fifth round and was landing big left hands, it looked like it would be the Filipino’s night. They brawled through the sixth round when, suddenly, just before the bell, Marquez caught Pacquiao moving in, landed the big right to the jaw of Pacquiao, who crumpled to the canvas. “I felt he was coming to knock me out the last three rounds and I knew he was going to be wide open,” Marquez said.

Pacquiao said: “He set us up well. I was a little surprised he could pull that off as hurt as he was, but he pulled it off.”

Will there be a fifth fight? Pacquiao said he would be ready. “If you give us a chance, we’ll fight again,” he said.

Text excerpted from Wire Agencies

Photo editing and sequencing by photo editor RJ Mickelson

UAE currency: the story behind the money in your pockets
The specs

Engine: 2.0-litre four-cylinder turbo

Power: 268hp at 5,600rpm

Torque: 380Nm at 4,800rpm

Transmission: CVT auto

Fuel consumption: 9.5L/100km

On sale: now

Price: from Dh195,000 

While you're here
THE SPECS

Engine: 3.5-litre supercharged V6

Power: 416hp at 7,000rpm

Torque: 410Nm at 3,500rpm

Transmission: 6-speed manual

Fuel consumption: 10.2 l/100km

Price: Dh375,000 

On sale: now 

AUSTRALIA SQUAD

Aaron Finch, Matt Renshaw, Brendan Doggett, Michael Neser, Usman Khawaja, Shaun Marsh, Mitchell Marsh, Tim Paine (captain), Travis Head, Marnus Labuschagne, Nathan Lyon, Jon Holland, Ashton Agar, Mitchell Starc, Peter Siddle

EGYPT SQUAD

Goalkeepers: Ahmed El Shennawy, Mohamed El Shennawy, Mohamed Abou-Gabal, Mahmoud Abdel Rehem "Genesh"
Defenders: Ahmed Elmohamady, Ahmed Hegazi, Omar Gaber, Ali Gazal, Ayman Ahsraf, Mahmoud Hamdy, Baher Elmohamady, Ahmed Ayman Mansour, Mahmoud Alaa, Ahmed Abou-Elfotouh
Midfielders: Walid Soliman, Abdallah El Said, Mohamed Elneny, Tarek Hamed, Mahmoud “Trezeguet” Hassan, Amr Warda, Nabil Emad
Forwards: Ahmed Ali, Mohamed Salah, Marwan Mohsen, Ahmed "Kouka" Hassan.

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

BLACKBERRY
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Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

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'The Woman in the House Across the Street from the Girl in the Window'

Director:Michael Lehmann

Stars:Kristen Bell

Rating: 1/5

About Okadoc

Date started: Okadoc, 2018

Founder/CEO: Fodhil Benturquia

Based: Dubai, UAE

Sector: Healthcare

Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth

Funding stage: Series B fundraising round to conclude in February

Investors: Undisclosed