• A handout photo by Bangalore Kempegowda International Airport showing the arrival of Covid-19 vaccine in Bangalore, India. EPA
    A handout photo by Bangalore Kempegowda International Airport showing the arrival of Covid-19 vaccine in Bangalore, India. EPA
  • Officials arrange boxes containing vials of Covishield, a coronavirus vaccine manufactured by Serum Institute of India, after a consignment of the vaccines arrived from the western city of Pune for its distribution, inside a cold storage room at a vaccination storage centre in Ahmedabad, India. Reuters
    Officials arrange boxes containing vials of Covishield, a coronavirus vaccine manufactured by Serum Institute of India, after a consignment of the vaccines arrived from the western city of Pune for its distribution, inside a cold storage room at a vaccination storage centre in Ahmedabad, India. Reuters
  • Officials unload boxes containing vials of Covishield, a coronavirus vaccine manufactured by Serum Institute of India, after a consignment of the vaccines arrived from the western city of Pune for its distribution, outside a vaccination storage centre in Ahmedabad, India. Reuters
    Officials unload boxes containing vials of Covishield, a coronavirus vaccine manufactured by Serum Institute of India, after a consignment of the vaccines arrived from the western city of Pune for its distribution, outside a vaccination storage centre in Ahmedabad, India. Reuters
  • Workers transfer carton boxes of a Covishield vaccine manufactured by Pune based Serum Institute of India (SII) that arrived in a lorry into the Karnataka Health Department cold storage facility in Bangalore, in preparation for the first round of vaccination drive scheduled to begin across the country from January 16. AFP
    Workers transfer carton boxes of a Covishield vaccine manufactured by Pune based Serum Institute of India (SII) that arrived in a lorry into the Karnataka Health Department cold storage facility in Bangalore, in preparation for the first round of vaccination drive scheduled to begin across the country from January 16. AFP
  • A health official carries Covid-19 vaccine boxes at a state vaccine storage centre in Bangalore, India. EPA
    A health official carries Covid-19 vaccine boxes at a state vaccine storage centre in Bangalore, India. EPA
  • Policemen guard the entrance of the Karnataka Health Department cold storage centre as a vehicle carrying 648,000 vials of Covishield vaccine produced by Pune-based Serum Institute of India (SII) arrives in Bangalore, in preparation for the first round of vaccination drive scheduled to begin across the country from January 16. AFP
    Policemen guard the entrance of the Karnataka Health Department cold storage centre as a vehicle carrying 648,000 vials of Covishield vaccine produced by Pune-based Serum Institute of India (SII) arrives in Bangalore, in preparation for the first round of vaccination drive scheduled to begin across the country from January 16. AFP
  • A health official pretends to administer a shot of Covid-19 vaccine to a volunteer during a mock vaccination drill at a school, in Dharmsala, India. AP Photo
    A health official pretends to administer a shot of Covid-19 vaccine to a volunteer during a mock vaccination drill at a school, in Dharmsala, India. AP Photo
  • A health worker checks a syringe before performing a trial run of Covid-19 vaccine delivery system in Gawahati, India. AP Photo
    A health worker checks a syringe before performing a trial run of Covid-19 vaccine delivery system in Gawahati, India. AP Photo
  • A health worker performs a trial run of the Covid-19 vaccine delivery system in New Delhi, India. AP Photo
    A health worker performs a trial run of the Covid-19 vaccine delivery system in New Delhi, India. AP Photo
  • A transport vehicle ferries 648,000 vials of Covishield vaccine manufactured by Pune-based Serum Institute of India (SII) to the Karnataka Health Department cold storage centre after the consignment arrived at Bangalore International Airport in Bangalore, in preparation for the first round of vaccination drive scheduled to begin across the country from January 16. AFP
    A transport vehicle ferries 648,000 vials of Covishield vaccine manufactured by Pune-based Serum Institute of India (SII) to the Karnataka Health Department cold storage centre after the consignment arrived at Bangalore International Airport in Bangalore, in preparation for the first round of vaccination drive scheduled to begin across the country from January 16. AFP
  • A handout photo made available by Bangalore Kempegowda International Airport showing the arrival of Covid-19 vaccine in Bangalore, India. EPA
    A handout photo made available by Bangalore Kempegowda International Airport showing the arrival of Covid-19 vaccine in Bangalore, India. EPA

India ready to roll out Covid-19 vaccines to Gulf nations, minister says


Ramola Talwar Badam
  • English
  • Arabic

India is ready to roll out Covid-19 vaccines to nations in the Gulf to support global efforts to overcome the virus, a senior minister said.

Over the past three days, the country has sent more than 4 million doses of Covishield – the local name for the Oxford-AstraZeneca vaccine manufactured in India – to countries including Bangladesh, Myanmar and Nepal.

The country's external affairs ministry has said it will soon begin the shipment of Covid-19 vaccines to Saudi Arabia.

Other countries in the region that have requested vaccine supplies from India are Oman and Bahrain.

V. Muraleedharan, India's Minister of State for External Affairs, pledged India would play a key role in supporting a global vaccination drive. Reem Mohammed / The National
V. Muraleedharan, India's Minister of State for External Affairs, pledged India would play a key role in supporting a global vaccination drive. Reem Mohammed / The National

"We will of course be happy to share our vaccines with the countries in the Gulf, subject to various technical and regulatory approvals in India and abroad," V Muraleedharan, Indian Minister of State for External Affairs, told The National.

The minister visited the UAE last week, where he met government officials and community members.

"As Prime Minister [Narendra] Modi has said, India will share its vaccines with other countries in the true spirit of Vasudhaiva Kutumbakam (the world is one family). We have already started sending vaccines to neighbouring countries," he said.

India began the world's largest inoculation drive earlier this month, with the target of vaccinating 300 million people by July.

The vaccines are being produced by the Serum Institute of India, the largest vaccine maker in the world.

"In India, two vaccines have been approved and production has started,"  Mr Muraleedharan said. "These are Covishield and Covaxin.

"Several other vaccines are also in the pipeline.

"There are also several innovations taking place in Covid-19 diagnostics in India which should help in returning back to normal life.”

Covaxin, is a homegrown vaccine,  developed by Indian drug maker Bharat Biotech. It has received emergency-use approval from the country's drug controller general.

Flying out supplies of  Covid-19 vaccine is part of the country's pledge to get supplies to partners and neighbouring nations.

This is in line with declarations by Indian Prime Minister Modi that "the vaccines being made in India will contribute to global efforts to contain the pandemic".

Mr Muraleedharan described his three-day UAE visit as productive, in which both sides agreed to strengthen ties in energy, food security, health and investments.

India sees enormous potential in the area of food security and both sides are working to take plans forward, he said.

“This will be a win-win situation for both countries.

"India needs investments in logistics and food processing, as a lot of our food production goes waste. The UAE fulfils its food requirement mostly through imports, and India can meet most of this requirement.”

Providing assistance to Indian workers in the UAE and supporting them in learning new skills to improve job career opportunities was also a focus of Mr Muraleedharan's visit.

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

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In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Envi%20Lodges%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3ESeptember%202021%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Noelle%20Homsy%20and%20Chris%20Nader%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%0D%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Hospitality%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%20to%2015%0D%3Cbr%3E%3Cstrong%3EStage%20of%20investment%3A%20%3C%2Fstrong%3ESeries%20A%3C%2Fp%3E%0A
Safety 'top priority' for rival hyperloop company

The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.

He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.

“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.

“Only once the system has been certified and approved will it move people,” he said.

HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon. 

With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.

Farasan Boat: 128km Away from Anchorage

Director: Mowaffaq Alobaid 

Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani

Rating: 4/5

RACECARD
%3Cp%3E%0D%3Cstrong%3E6pm%3A%3C%2Fstrong%3E%20Abu%20Dhabi%20Land%20Forces%20-%20Maiden%20(TB)%20Dh82%2C500%20(Dirt)%201%2C200m%0D%3Cbr%3E%3Cstrong%3E6.35pm%3A%20%3C%2Fstrong%3EDubai%20Naval%20Forces%20-%20Maiden%20(TB)%20Dh82%2C500%20(D)%201%2C400m%0D%3Cbr%3E%3Cstrong%3E7.10pm%3A%3C%2Fstrong%3E%20Sharjah%20Air%20Force%20-%20Maiden%20(TB)%20Dh82%2C500%20(D)%201%2C200m%0D%3Cbr%3E%3Cstrong%3E7.45pm%3A%20%3C%2Fstrong%3EAjman%20Presidential%20Guard%20-%20Handicap%20(TB)%20Dh95%2C000%20(D)%201%2C200m%0D%3Cbr%3E%3Cstrong%3E8.20pm%3A%3C%2Fstrong%3E%20Dubai%20Creek%20Mile%20%E2%80%93%20Listed%20(TB)%20Dh132%2C500%20(D)%201%2C600m%0D%3Cbr%3E%3Cstrong%3E8.55pm%3A%20%3C%2Fstrong%3EUmm%20Al%20Quwain%20and%20Ras%20Al%20Khaimah%20Joint%20Aviation%20-%20Rated%20Conditions%20(TB)%20Dh95%2C000%20(D)%201%2C600m%0D%3Cbr%3E%3Cstrong%3E9.30pm%3A%3C%2Fstrong%3E%20Fujairah%20National%20Service%20and%20Reserve%20-%20Handicap%20(TB)%20Dh82%2C500%20(D)%201%2C400m%3C%2Fp%3E%0A
Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

US Industrial Market figures, Q1 2017

Vacancy Rate 5.4%

Markets With Positive Absorption 85.7 per cent

New Supply 55 million sq ft

New Supply to Inventory 0.4 per cent

Under Construction 198.2 million sq ft

(Source: Colliers)

SERIES INFO

Afghanistan v Zimbabwe, Abu Dhabi Sunshine Series

All matches at the Zayed Cricket Stadium, Abu Dhabi

Test series

1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March

Play starts at 9.30am

T20 series

1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March

TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube

Infiniti QX80 specs

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