• Tourists visit the historic Al Fahidi neighbourhood of Dubai. AFP
    Tourists visit the historic Al Fahidi neighbourhood of Dubai. AFP
  • Al Fahidi Fort in old Dubai. Pawan Singh / The National
    Al Fahidi Fort in old Dubai. Pawan Singh / The National
  • The Creek divides Bur Dubai and Deira. Reem Mohammed / The National
    The Creek divides Bur Dubai and Deira. Reem Mohammed / The National
  • Modern buildings are reflected in the window of a traditional house in the neighbourhood of Al Fahidi. AFP
    Modern buildings are reflected in the window of a traditional house in the neighbourhood of Al Fahidi. AFP
  • A woman walks in front of a traditional house in the neighborhood of Al Fahidi. AFP
    A woman walks in front of a traditional house in the neighborhood of Al Fahidi. AFP
  • Men feed fish with leftover bread at the Creek in Al Fahidi, Bur Dubai. Mohamed Somji / AFP
    Men feed fish with leftover bread at the Creek in Al Fahidi, Bur Dubai. Mohamed Somji / AFP
  • Al Farooq Mosque in Al Fahidi Historical District on a sunny day with blue skies
    Al Farooq Mosque in Al Fahidi Historical District on a sunny day with blue skies
  • Dubai Museum is now located in the fort. Pawan Singh / The National
    Dubai Museum is now located in the fort. Pawan Singh / The National
  • Dubai Creek has been the heart of the city for centuries. Reem Mohammed / The National
    Dubai Creek has been the heart of the city for centuries. Reem Mohammed / The National

Dubai Creek district to undergo world-class regeneration, Sheikh Hamdan says


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  • Arabic

Dubai's oldest neighbourhood is to undergo regeneration to attract residents, visitors, creatives and start-ups to the area.

Al Fahidi district dates back to the 19th century and was at the city's heart as it grew from a sleepy fishing village to a global metropolis. Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, was born in nearby Shindagha.

"We seek to turn it into a leading cultural destination that highlights our nation’s authentic architectural and urban heritage," Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said on Sunday.

Sheikh Hamdan approved a broader project that seeks to make the city's walls and streets an "open art gallery".

With the regeneration project, the government wants to create a "platform for young people to showcase their creative talent and start-up companies in the cultural sector to showcase their offerings".

"It also aims to rehabilitate the neighbourhood’s facilities and infrastructure as well as improve its general appearance," Dubai Media Office said.

Al Fahidi, on the Bur Dubai side of Dubai Creek, is home to museums, coffee shops and textile souqs. The famous gold and spice souqs are on the Deira side, a Dh1 boat journey across the creek.

The district is already home to several street-art projects, with the walls of its old buildings turned into canvasses for artists.

Further down the river another area, Al Seef, has undergone extensive modernisation after a long period of closure.

Al Fahidi street-art project to mark Hope Mars mission: in pictures

  • Artists Amna Basheer,left, and Reem Al Mazrouei work on their commission for Dubai Culture. They painted a “Hope mural” to celebrate the UAE Mars mission in Dubai’s Al Fahidi district. Reem Mohammed / The National
    Artists Amna Basheer,left, and Reem Al Mazrouei work on their commission for Dubai Culture. They painted a “Hope mural” to celebrate the UAE Mars mission in Dubai’s Al Fahidi district. Reem Mohammed / The National
  • The mural can be found in Dubai's Al Fahidi neighbourhood. Reem Mohammed / The National
    The mural can be found in Dubai's Al Fahidi neighbourhood. Reem Mohammed / The National
  • The completed mural by Reem Al Mazrouei and Amna Basheer, commissioned by Dubai Culture. Courtesy Dubai Culture
    The completed mural by Reem Al Mazrouei and Amna Basheer, commissioned by Dubai Culture. Courtesy Dubai Culture
  • The artists worked with the team from consulting agency Art Painting Lab to complete the work. Reem Mohammed / The National
    The artists worked with the team from consulting agency Art Painting Lab to complete the work. Reem Mohammed / The National
  • A sketch of the 'Hope' mural, which features a Emirati girl dressed in traditional garb and jewellery. Reem Mohammed / The National
    A sketch of the 'Hope' mural, which features a Emirati girl dressed in traditional garb and jewellery. Reem Mohammed / The National
  • Working with a team of painters, Basheer and Al Mazrouei completed the work in a week. Reem Mohammed / The National
    Working with a team of painters, Basheer and Al Mazrouei completed the work in a week. Reem Mohammed / The National
  • Trained in fashion illustration, Amna Basheer initially worked in creating storyboards for films before experimenting with murals, which she grew to love. “Painting something really big and permanent is a good feeling,” she said. Reem Mohammed / The National
    Trained in fashion illustration, Amna Basheer initially worked in creating storyboards for films before experimenting with murals, which she grew to love. “Painting something really big and permanent is a good feeling,” she said. Reem Mohammed / The National
  • Focusing mostly on illustration, Reem Al Mazrouei, who is new to the art scene, studied visual art at Zayed University. In her work, she often borrows from the styles of surrealists and fantastical imagery. Her first artistic project took the form of a children’s book, for which she produced the illustrations. Reem Mohammed / The National
    Focusing mostly on illustration, Reem Al Mazrouei, who is new to the art scene, studied visual art at Zayed University. In her work, she often borrows from the styles of surrealists and fantastical imagery. Her first artistic project took the form of a children’s book, for which she produced the illustrations. Reem Mohammed / The National
  • The image of the girl Amal adorned in traditional jewellery is a nod to Al Mazrouei’s Emirati background. “I tend to represent my culture in my drawings and characters. Though the mural has a contemporary look, I wanted it to have a traditional feeling,” she explained. Reem Mohammed / The National
    The image of the girl Amal adorned in traditional jewellery is a nod to Al Mazrouei’s Emirati background. “I tend to represent my culture in my drawings and characters. Though the mural has a contemporary look, I wanted it to have a traditional feeling,” she explained. Reem Mohammed / The National
  • The artists worked with the team from consulting agency Art Painting Lab to complete the work. Reem Mohammed / The National
    The artists worked with the team from consulting agency Art Painting Lab to complete the work. Reem Mohammed / The National
  • The completed mural is five metres in length and was completed on Sunday, July 26. Courtesy Dubai Culture
    The completed mural is five metres in length and was completed on Sunday, July 26. Courtesy Dubai Culture
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

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

WHAT%20ARE%20THE%20PRODUCTS%20WITHIN%20THE%20THREE%20MAJOR%20CATEGORIES%3F
%3Cp%3E%3Cstrong%3EAdvanced%20materials%3A%3C%2Fstrong%3E%20specifically%20engineered%20to%20exhibit%20novel%20or%20enhanced%20properties%2C%20that%20confer%20superior%20performance%20relative%20to%20conventional%20materials%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAdvanced%20components%3A%3C%2Fstrong%3E%20includes%20semiconductor%20components%2C%20such%20as%20microprocessors%20and%20other%20computer%20chips%2C%20and%20computer%20vision%20components%20such%20as%20lenses%20and%20image%20sensors%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAdvanced%20products%3A%3C%2Fstrong%3E%20includes%20personal%20electronics%2C%20smart%20home%20devices%20and%20space%20technologies%2C%20along%20with%20industry-enabling%20products%20such%20as%20robots%2C%203D%20printing%20equipment%20and%20exoskeletons%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Strategy%26amp%3B%3C%2Fem%3E%3C%2Fp%3E%0A
Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

VEZEETA PROFILE

Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC

Dhadak

Director: Shashank Khaitan

Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana

Stars: 3

The specs: 2019 Infiniti QX50

Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)

The specs

Price: From Dh180,000 (estimate)

Engine: 2.0-litre turbocharged and supercharged in-line four-cylinder

Transmission: Eight-speed automatic

Power: 320hp @ 5,700rpm

Torque: 400Nm @ 2,200rpm

Fuel economy, combined: 9.7L / 100km

The specs: 2018 Maserati GranTurismo/GranCabrio

Price, base Dh485,000 (GranTurismo) and Dh575,000 (GranCabrio)

Engine 4.7L V8

Transmission Six-speed automatic

Power 460hp @ 7,000rpm

Torque 520Nm @ 4,750rpm

Fuel economy, combined 14.3L (GranTurismo) and 14.5L (GranCabrio) / 100km

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

What's in the deal?

Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024

India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.

India will also cut automotive tariffs to 10% under a quota from over 100% currently.

Indian employees in the UK will receive three years exemption from social security payments

India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Who is Mohammed Al Halbousi?

The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.

The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.

He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.

He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.

He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.

COMPANY PROFILE
Name: Mamo 

 Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua

 Based: Dubai, UAE

 Number of employees: 28

 Sector: Financial services

 Investment: $9.5m

 Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. 

 

First Person
Richard Flanagan
Chatto & Windus 

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

 

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

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Updated: January 10, 2022, 8:58 AM