The heatwave baking the US and much of the globe is helping to raise water temperatures in Florida to such an extent that coral reefs are facing an existential threat.
Already hit by the effects of pollution, overfishing, disease and the destructive forces of hurricanes, ever-warmer water is heaping new misery on the fragile marine ecosystem.
In some parts of the Sunshine State, the water is now as hot as a bathtub, hitting 36.5°C near the Upper Keys last week.
Local organisations, including several supported by funding from the UAE, are urgently trying to save Florida's coral, which acts as the ocean's lungs as it pulls carbon dioxide from the atmosphere and pumps out oxygen.
Reefs are also natural barriers, protecting coastlines from flooding and storms, and breeding grounds for fish and other marine life.
Tim Gallaudet, a retired US Navy rear admiral and a leading oceanographer, said water temperatures are far above normal and could harm the corals' ability to reproduce.
“If the high temperatures persist for a few weeks, coral reefs could undergo bleaching or weaken as they expel the algae that inhabit their tissues,” Mr Gallaudet told The National.
“Even if coral bleaching doesn't occur, the conditions are already conducive to additional stress before the expected coral spawning in August.”
July 3 was the hottest day globally since records began, and climate scientists are warning that the world is falling far short of meeting targets to cut emissions and limit temperature rises.
Global sea surface temperatures have been at record highs since April, with the North Atlantic extremely warm since mid-March, meteorologists report.
“We are in uncharted territory and we can expect more records to fall,” Christopher Hewitt, the World Meteorological Organisation's director of climate services, told AP. “This is worrying news for the planet.”
In collaboration with local groups in southern Florida, the UAE has been working for more than three years to protect the Florida Reef Tract, through the Mission: Iconic Reefs initiative.
Mr Gallaudet, who was previously deputy director of the National Oceanic and Atmospheric Administration and is now chief executive of Ocean STL Consulting, said the partnership between the US and the UAE is crucial to marine conservation.
In February 2020, the UAE announced a donation of $3.5 million to support the coral restoration efforts, administered by United Way of Collier and the Keys.
The loss of coral reefs can have cascading effects on the economy and culture of the Florida Keys region, which are deeply rooted in the local marine ecosystem.
The unique habitats generate billions of dollars in recreation and tourism for Florida.
Healthy coral reefs provide a habitat for commercially and recreationally important fish species, and marine animals including spiny lobsters and sea turtles.
“Local efforts have struggled to keep pace with the rate of decline,” Mr Gallaudet said. “This is where the UAE's partnership is instrumental in helping Florida to catch up.”
Marine biologist Jessica Dockery, the Reef Revitalisation Project Liaison at UWCK, said rising sea temperatures, ocean acidification, and more frequent and severe coral bleaching events are all consequences of climate change that can lead to the decline and destruction of coral reefs.
Preserving and restoring coral reefs is crucial for mitigating climate change and for their survival against the effects of climate change impacts.
“The joint effort between the United States and the United Arab Emirates not only aims to address the impacts of climate change, but also to protect and restore these invaluable coral reefs,” Ms Dockery told The National.
“By collaborating on this vital mission, we can secure a brighter future for our oceans, marine life and the communities that rely on them.”
The Florida Keys has the only barrier reef in North America and about 60 per cent of residents are dependent on the marine environment.
Globally, coral bleaching and dying are becoming more frequent with climate change, especially during an El Nino year, with Australia’s Great Barrier Reef losing half of its coral during the last supersized El Nino in 2016.
UAE currency: the story behind the money in your pockets
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
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
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
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