A Dh700 million contract has been awarded by Dubai's Roads and Transport Authority for major upgrades on Al Khail Road.
The project includes the construction of bridges spanning 3,300 metres, along with road improvement works covering 6,820m over seven locations on the motorway, including Zabeel, Meydan, Al Quoz 1, Ghadeer Al Tair and Jumeirah Village Circle.
The upgrade will expand traffic flow along Al Khail Road by about 19,600 vehicles per hour, state news agency Wam reported.
“Al Khail Road Improvement Project stands out among the strategic projects aimed to enhance the capacity of roads that run parallel to and support Sheikh Zayed Road, Sheikh Mohamed bin Zayed Road, and Emirates Road,” said Mattar Al Tayer, director general and chairman of the RTA.
“Al Khail Road is one of Dubai’s key traffic corridors stretching from Business Bay crossing to its junction with Sheikh Mohamed bin Zayed Road, encompassing six lanes in each direction.
“The project aims to enhance seven locations along Al Khail Road, starting with Zabeel, particularly between Oud Metha Street and Financial Centre Street intersections.”
Work includes the construction of a three-lane bridge linking traffic from Zabeel Palace Street and Oud Metha Road directly on to Al Khail Road, in the direction of Abu Dhabi.
The second part of the project is at Meydan, along Al Khail Road, between Al Meydan Road and Ras Al Khor Road intersections.
“It covers the construction of a two-lane bridge extending 610 metres to accommodate 3,200 vehicles per hour, linking traffic from Al Meydan Road on to Al Khail Road in the direction of Deira,” Mr Al Tayer said.
“Works at this site also include improvements of surface roads extending 1,550 metres to connect the traffic coming from Al Khail Road heading to Ras Al Khor Road.”
The third phase will see work at Al Quoz 1 on the Al Khail Road between the intersections of Al Meydan Road and Al Waha Street.
It involves the construction of a two-lane bridge stretching 650 metres, accommodating 3,200 vehicles per hour, to link traffic from Al Meydan Road on to Al Khail Road, towards Abu Dhabi.
This will be followed by the creation of a two-lane bridge extending 640 metres between the intersections of Al Meydan Road and Latifa bint Hamdan Street.
“The fifth site of the project is situated at the Jumeirah Village Circle along the Al Khail Road between Hessa Street and Al Khamila Street,” the director general said.
“The construction works include a two-lane bridge spanning 700 metres capable of accommodating 3,200 vehicles per hour to link the traffic coming from Al Khail Road to Hessa Street.”
The sixth phase involves surface-widening works on Al Khail Road, in Al Jaddaf, through the addition of a lane to enhance traffic flow in the direction of Deira, increasing the road's capacity by about 2,000 vehicles per hour.
Abu Dhabi GP Saturday schedule
12.30pm GP3 race (18 laps)
2pm Formula One final practice
5pm Formula One qualifying
6.40pm Formula 2 race (31 laps)
Russia's Muslim Heartlands
Dominic Rubin, Oxford
Afghanistan squad
Gulbadin Naib (captain), Mohammad Shahzad (wicketkeeper), Noor Ali Zadran, Hazratullah Zazai, Rahmat Shah, Asghar Afghan, Hashmatullah Shahidi, Najibullah Zadran, Samiullah Shinwari, Mohammad Nabi, Rashid Khan, Dawlat Zadran, Aftab Alam, Hamid Hassan, Mujeeb Ur Rahman.
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
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Killing of Qassem Suleimani
About Seez
Company name/date started: Seez, set up in September 2015 and the app was released in August 2017
Founder/CEO name(s): Tarek Kabrit, co-founder and chief executive, and Andrew Kabrit, co-founder and chief operating officer
Based in: Dubai, with operations also in Kuwait, Saudi Arabia and Lebanon
Sector: Search engine for car buying, selling and leasing
Size: (employees/revenue): 11; undisclosed
Stage of funding: $1.8 million in seed funding; followed by another $1.5m bridge round - in the process of closing Series A
Investors: Wamda Capital, B&Y and Phoenician Funds
Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
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MATCH INFO
Uefa Champions League quarter-final, second leg (first-leg score)
Porto (0) v Liverpool (2), Wednesday, 11pm UAE
Match is on BeIN Sports
Profile of MoneyFellows
Founder: Ahmed Wadi
Launched: 2016
Employees: 76
Financing stage: Series A ($4 million)
Investors: Partech, Sawari Ventures, 500 Startups, Dubai Angel Investors, Phoenician Fund
THE SPECS
Engine: 3.6-litre V6
Transmission: eight-speed automatic
Power: 285bhp
Torque: 353Nm
Price: TBA
On sale: Q2, 2020
COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)
Date started: August 2021
Founder: Nour Sabri
Based: Dubai, UAE
Sector: E-commerce / Marketplace
Size: Two employees
Funding stage: Seed investment
Initial investment: $200,000
Investors: Amr Manaa (director, PwC Middle East)
Where to apply
Applicants should send their completed applications - CV, covering letter, sample(s) of your work, letter of recommendation - to Nick March, Assistant Editor in Chief at The National and UAE programme administrator for the Rosalynn Carter Fellowships for Mental Health Journalism, by 5pm on April 30, 2020.
Please send applications to nmarch@thenational.ae and please mark the subject line as “Rosalynn Carter Fellowship for Mental Health Journalism (UAE programme application)”.
The local advisory board will consider all applications and will interview a short list of candidates in Abu Dhabi in June 2020. Successful candidates will be informed before July 30, 2020.
The biog
Name: Greg Heinricks
From: Alberta, western Canada
Record fish: 56kg sailfish
Member of: International Game Fish Association
Company: Arabian Divers and Sportfishing Charters
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In the Restaurant: Society in Four Courses
Christoph Ribbat
Translated by Jamie Searle Romanelli
Pushkin Press
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
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
