Christiana Figueres, former executive secretary of the UN Framework Convention on Climate Change, at the 2013 World Future Energy Summit in Abu Dhabi. Photo: Silvia Razgova / The National
Christiana Figueres, former executive secretary of the UN Framework Convention on Climate Change, at the 2013 World Future Energy Summit in Abu Dhabi. Photo: Silvia Razgova / The National
Christiana Figueres, former executive secretary of the UN Framework Convention on Climate Change, at the 2013 World Future Energy Summit in Abu Dhabi. Photo: Silvia Razgova / The National
Christiana Figueres, former executive secretary of the UN Framework Convention on Climate Change, at the 2013 World Future Energy Summit in Abu Dhabi. Photo: Silvia Razgova / The National

Former UN climate chief calls on world leaders to uphold Paris commitments


Soraya Ebrahimi
  • English
  • Arabic

Christiana Figueres, the UN’s former climate chief responsible for overseeing the Paris Agreement, on Thursday night called on global leaders to deliver on their commitments at the Cop26 summit.

"Precisely at this late hour, we must find the strength to stand up in the firm conviction that the challenge is as daunting as it is conquerable, and that we can sprint towards the light,” Ms Figueres said.

"We must decide to unleash the full potential of our human ingenuity.

"The progress we have made on climate change is impressive compared to where we were only five years ago, but it is still incremental compared to the scale and urgency of the challenge.

"We have to make two things happen this decade: we have to cut our global greenhouse gas emissions in half; and we have to protect all remaining ecosystems from further encroachment, actively repairing and regenerating those we have depleted.

"Because, let’s be really clear here, there is no ceiling of 1.5ºC with only emissions reductions."

She was referring to the Paris Agreement's target of keeping the global temperature rise to less than 2ºC above pre-industrial levels, but preferably below 1.5ºC.

Also the co-founder of Global Optimism, Ms Figueres was giving the Worldwide Fund For Nature's State of the Planet address to 400 guests, including celebrities, politicians and youth ambassadors, days before Cop26 in Glasgow.

The WWF is urging the UK government and other world leaders to ensure that nature is at the heart of climate commitments at Cop26.

The charity is concerned that the climate crisis means species from puffins on UK coasts to penguins in the frozen wilderness of Antarctica, to monkeys deep in the Amazon jungle, are all in danger.

The WWF is asking people to get involved in Cop26 and make sure that leaders know they will not forget the promises that have been made.

It is encouraging people to join a march locally or in Glasgow, and to explore its promise tracker, which follows the pledges made by leaders.

The WWF is also asking for donations to its projects tackling climate change, and for people to download its free My Footprint app, which allows users to estimate their impact on the world.

From Friday and all weekend, a light projection by artist Jenny Holzer will illuminate Tate Modern’s chimney between 5.30-10pm with inspiring testimony from activists and leaders addressing the climate crisis.

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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

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
Company%20profile
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States of Passion by Nihad Sirees,
Pushkin Press

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Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara

While you're here
Updated: October 28, 2021, 8:33 PM