President Sheikh Mohamed and Saudi Arabia's Crown Prince Mohammed bin Salman expressed their desire for peace and stability across the world. MOPA / AP
President Sheikh Mohamed and Saudi Arabia's Crown Prince Mohammed bin Salman expressed their desire for peace and stability across the world. MOPA / AP
President Sheikh Mohamed and Saudi Arabia's Crown Prince Mohammed bin Salman expressed their desire for peace and stability across the world. MOPA / AP
President Sheikh Mohamed and Saudi Arabia's Crown Prince Mohammed bin Salman expressed their desire for peace and stability across the world. MOPA / AP

President Sheikh Mohamed exchanges Eid greetings with Saudi Crown Prince


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President Sheikh Mohamed exchanged greetings with Saudi Arabia's Crown Prince Mohammed bin Salman on Eid Al Adha.

The two leaders called for the continued prosperity and progress of their respective nations during a phone call, expressing their desire for peace and stability across the world, state news agency Wam reported.

Sheikh Mohamed performed the Eid Al Adha prayer on Saturday morning alongside fellow worshippers at the Sheikh Zayed Grand Mosque in Abu Dhabi.

During the sermon, Abdulrahman Al Shamsi highlighted the religious significance of Eid Al Adha and the importance of taking pride in one's identity and heritage, while also keeping alive the values of compassion and coexistence.

He wished the UAE leadership and people good health, as well as further progress and continued stability in the country.

Following the prayers, Sheikh Mohamed exchanged greetings with worshippers.

He then visited the tomb of Sheikh Zayed, the Founding Father.

Sheikh Mohamed also welcomed the rulers of all the Emirates on the first morning of the religious festival at Al Mushrif Palace in the capital.

Eid Al Adha, also known as the festival of the sacrifice, began on Saturday and concludes on Monday.

Sheikh Mohamed performs Eid prayers — in pictures

  • Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, performs Eid Al Adha prayers alongside Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region, and Sheikh Suroor bin Mohammed, at the Sheikh Zayed Grand Mosque, in Abu Dhabi.
    Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, performs Eid Al Adha prayers alongside Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region, and Sheikh Suroor bin Mohammed, at the Sheikh Zayed Grand Mosque, in Abu Dhabi.
  • Sheikh Mohamed bin Zayed with Sheikh Hamdan, Sheikh Suroor, Sheikh Issa bin Zayed and other sheikhs during Eid Al Adha prayers.
    Sheikh Mohamed bin Zayed with Sheikh Hamdan, Sheikh Suroor, Sheikh Issa bin Zayed and other sheikhs during Eid Al Adha prayers.
  • Sheikh Mohamed during prayers.
    Sheikh Mohamed during prayers.
  • From right to left: Sheikh Suroor, Sheikh Mohamed, Sheikh Hamdan, Sheikh Issa and Sheikh Nahyan Bin Zayed Al Nahyan, Chairman of the Board of Trustees of Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation, attend the prayers with other sheikhs and senior officials.
    From right to left: Sheikh Suroor, Sheikh Mohamed, Sheikh Hamdan, Sheikh Issa and Sheikh Nahyan Bin Zayed Al Nahyan, Chairman of the Board of Trustees of Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation, attend the prayers with other sheikhs and senior officials.
  • Sheikh Mohamed attends Eid Al Adha prayers at the Sheikh Zayed Grand Mosque.
    Sheikh Mohamed attends Eid Al Adha prayers at the Sheikh Zayed Grand Mosque.
  • Sheikh Mohamed was joined by Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior.
    Sheikh Mohamed was joined by Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior.
  • Sheikh Mohamed during the Eid Al Adha prayers.
    Sheikh Mohamed during the Eid Al Adha prayers.
  • From right to left: Sheikh Saif, Sheikh Issa, Sheikh Mohamed, Sheikh Hamdan, Sheikh Nahyan, Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs and Sheikh Nahyan bin Mubarak, UAE Minister of Tolerance and Coexistence, pray at the tomb of the Founding Father at the Sheikh Zayed Grand Mosque.
    From right to left: Sheikh Saif, Sheikh Issa, Sheikh Mohamed, Sheikh Hamdan, Sheikh Nahyan, Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs and Sheikh Nahyan bin Mubarak, UAE Minister of Tolerance and Coexistence, pray at the tomb of the Founding Father at the Sheikh Zayed Grand Mosque.
  • Sheikh Mohamed during the Eid Al Adha prayers.
    Sheikh Mohamed during the Eid Al Adha prayers.
  • From right to left: Sheikh Suroor bin Mohamed, Sheikh Mohamed, Sheikh Hamdan, other sheikhs and senior officials attend Eid Al Adha prayers.
    From right to left: Sheikh Suroor bin Mohamed, Sheikh Mohamed, Sheikh Hamdan, other sheikhs and senior officials attend Eid Al Adha prayers.
  • Sheikh Saif, right, with Sheikh Suroor, second right, during the prayers.
    Sheikh Saif, right, with Sheikh Suroor, second right, during the prayers.
  • From left to right: Sheikh Issa, Sheikh Hamdan, Sheikh Mohamed, Sheikh Suroor and Sheikh Saif at the Sheikh Zayed Grand Mosque.
    From left to right: Sheikh Issa, Sheikh Hamdan, Sheikh Mohamed, Sheikh Suroor and Sheikh Saif at the Sheikh Zayed Grand Mosque.
  • Sheikh Issa, Sheikh Nahyan and Sheikh Mansour with other sheikhs and senior officials.
    Sheikh Issa, Sheikh Nahyan and Sheikh Mansour with other sheikhs and senior officials.
  • The sheikhs and senior officials attend the prayers.
    The sheikhs and senior officials attend the prayers.
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5.30pm: Wadi Sidr – Handicap (PA) Dh80,000 (T) 1,200m; Winner: AF Majalis, Tadhg O’Shea, Ernst Oertel

6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Fakhama, Fernando Jara, Mohamed Daggash

6.30pm: Wadi Shees – Handicap (PA) Dh80,000 (T) 2,200m; Winner: Mutaqadim, Antonio Fresu, Ibrahim Al Hadhrami

7pm: Arabian Triple Crown Round-1 – Listed (PA) Dh230,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami

7.30pm: Wadi Tayyibah – Maiden (TB) Dh80,000 (T) 1,600m; Winner: Poster Paint, Patrick Cosgrave, Bhupat Seemar

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Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Straightforward ways to reduce sugar in your family's diet
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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

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7. Limited time periods for audits

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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. 

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Company name: Entrupy 

Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist

Based: New York, New York

Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.  

Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius. 

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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

Updated: July 12, 2022, 6:09 AM