• Oryx at one of the feeding stations at the Dubai Desert Conservation Reserve. All photos: Chris Whiteoak / The National
    Oryx at one of the feeding stations at the Dubai Desert Conservation Reserve. All photos: Chris Whiteoak / The National
  • A sandfish skink
    A sandfish skink
  • A green bee-eater (Merops orientalis) at the Dubai Desert Conservation Reserve
    A green bee-eater (Merops orientalis) at the Dubai Desert Conservation Reserve
  • A desert runner ant (Cataglyphis)
    A desert runner ant (Cataglyphis)
  • Conservation officer Basil Roy conducts Oryx body condition scoring by taking photos and making notes on the Dubai Desert Conservation Reserve
    Conservation officer Basil Roy conducts Oryx body condition scoring by taking photos and making notes on the Dubai Desert Conservation Reserve
  • Basil Roy during a vegetation survey at the reserve
    Basil Roy during a vegetation survey at the reserve
  • The vegetation survey uses a quadrant layout, data sheets and recording
    The vegetation survey uses a quadrant layout, data sheets and recording
  • Basil Roy has worked at the reserve for the past two years
    Basil Roy has worked at the reserve for the past two years
  • Conservation officer Aline Wittedelatorre during a bird survey on the reserve
    Conservation officer Aline Wittedelatorre during a bird survey on the reserve
  • One of the camera traps next to a watering hole
    One of the camera traps next to a watering hole
  • The new visitor centre at Dubai Desert Conservation Reserve
    The new visitor centre at Dubai Desert Conservation Reserve
  • A model of a crowned leaf-nosed snake (Lytorhynchus diadema) in the visitor centre
    A model of a crowned leaf-nosed snake (Lytorhynchus diadema) in the visitor centre
  • The skull of a pharaoh eagle owl at the visitor centre
    The skull of a pharaoh eagle owl at the visitor centre
  • The visitor centre displays conservation achievements and scientific findings from the past two decades
    The visitor centre displays conservation achievements and scientific findings from the past two decades
  • A display showing how desert truffles spring from microscopic spores distributed beneath the surface of the sand
    A display showing how desert truffles spring from microscopic spores distributed beneath the surface of the sand
  • An archaeological display contains artefacts that have been found in the reserve over the past seven years
    An archaeological display contains artefacts that have been found in the reserve over the past seven years
  • Gerhard Erasmus is the conservation manager of the Dubai Desert Conservation Reserve
    Gerhard Erasmus is the conservation manager of the Dubai Desert Conservation Reserve
  • The Arabian oryx is one of the most commonly spotted animals at the reserve
    The Arabian oryx is one of the most commonly spotted animals at the reserve

Photo essay: Inside Dubai's huge desert conservation reserve


Evelyn Lau
  • English
  • Arabic

Abundant wildlife and thriving vegetation can be found at the Dubai Desert Conservation Reserve.

Opened in 2002, the 225-square-kilometre reserve takes up almost 5 per cent of Dubai's total land area. It is also fenced to preserve the flora and fauna that naturally inhabit the space.

“The DDCR represents the UAE's desert landscape if left alone," says Basil Roy, a conservation officer. "It is home to culturally symbolic species of flora and fauna, such as the Arabian gazelle, the spiny-tailed lizard, and the ghaf tree."

Roy has worked at the DDCR for the past two years. He currently plans, controls, develops and monitors the conservation practices and environmental work in the reserve, such as the Arabian oryx monitoring programme.

He says there have been 74 plant species, 142 species of migratory and resident birds, 26 reptile species, 18 mammal species, and more than 300 insect species recorded at the reserve.

In addition to spotlighting the ecosystem components, the reserve has recently opened a visitor centre.

"It will showcase all of DDCR's conservation achievements and scientific findings over the past two decades. Information on DDCR's establishment, safeguarding and scientific research of its natural environment is accessible to the public. Also, the reserve can be visited with several tour operating companies," Roy says.

Those who visit the reserve catch a glimpse of some evasive animals, especially at dawn or dusk. Day tours are possible and there is the five-star Al Maha hotel nestled in the reserve for those who want to spend more time there.

“At sunrise and sunset there are more chances of recording elusive wildlife such as the Arabian horned viper, the Arabian red fox, and the pharaoh eagle owl,” Roy says.

He also says the Arabian oryx, the Arabian gazelle, the sand gazelle, several species of migratory and resident birds such as the desert wheatear, the blue-cheeked bee-eater and the brown-necked raven are more commonly spotted. Reptiles such as the spiny-tailed lizard and the white-spotted sand lizard as well as several types of insects can also be seen.

To safeguard the space, Roy says the reserve has implemented regulations to minimise human impact on the local flora and fauna.

“One crucial policy set up by the DDCR was to limit human activity, such as off-roading, in the area by fencing the entirety of the reserve and restricting access to the general public," he says.

"As well as regulating the visitors coming into the area, camel farms were removed from the zone in order to prevent the overgrazing of desert vegetation. By doing so, the natural reserve has been able to become a haven for desert wildlife and is successful in replenishing endangered species populations, like the Arabian oryx.”

 

 

 

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

Petrarch: Everywhere a Wanderer
Christopher Celenza,
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%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fislamic-economy-consumer-spending-to-increase-45-to-3-2tn-by-2024-1.936583%22%20target%3D%22_self%22%3EGlobal%20Islamic%20economy%20to%20grow%203.1%25%20to%20touch%20%242.4%20trillion%20by%202024%3C%2Fa%3E%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fuk-economy-plunges-into-worst-ever-recession-after-record-20-4-contraction-1.1062560%22%20target%3D%22_self%22%3EUK%20economy%20plunges%20into%20worst-ever%20recession%20after%20record%2020.4%25%20contraction%3C%2Fa%3E%3C%2Fp%3E%0A%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fislamic-economy-consumer-spending-to-increase-45-to-3-2tn-by-2024-1.936583%22%20target%3D%22_self%22%3EIslamic%20economy%20consumer%20spending%20to%20increase%2045%25%20to%20%243.2tn%20by%202024%3C%2Fa%3E%3C%2Fp%3E%0A
What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Updated: December 08, 2023, 6:01 PM