Live updates: follow the latest news on Russia-Ukraine
Kyiv has said Moscow now controls 20 per cent of Ukrainian territory on the eve of the war's 100th day as Russian forces hammered Ukrainian positions in the Donbas region on Thursday.
Russian troops have focused on capturing eastern Ukraine since being repelled from around the capital Kyiv.
Although their advance has been much slower than Moscow expected, Russian forces have expanded control beyond the 43,000 square kilometres taken when Russia seized Crimea and parts of the Donbas in 2014.
“Today, about 20 per cent of our territory is under the control of the occupiers,” Ukrainian President Volodymyr Zelenskyy said in an address to politicians in Luxembourg.
Thousands of people have been killed and millions forced to flee, with Ukraine's east now bearing the brunt of Russia's assault, which Mr Zelenskyy said was killing up to 100 Ukrainian soldiers every day.
Western nations have pumped arms and military supplies into Ukraine to help it survive the onslaught.
But Ukraine's allies need to brace for a gruelling “war of attrition”, Nato chief Jens Stoltenberg said on Thursday after talks with US President Joe Biden in Washington.
“We just have to be prepared for the long haul,” Mr Stoltenberg said, while reiterating that Nato does not want direct confrontation with Russia.
On the ground, street battles were raging in the industrial centre of Severodonetsk in Luhansk, part of the Donbas.
The city is a vital target for Moscow, which already controls 80 per cent of the area, but Luhansk regional governor Sergiy Gaiday vowed Ukrainian forces would fight “until the end”.
Severodonetsk's Azot factory, one of Europe's biggest chemical plants, was attacked by Russian soldiers who fired on one of its administrative buildings and a warehouse where methanol was stored.
Ukrainian troops are still holding an industrial zone, Mr Gaiday said, a situation reminiscent of Mariupol, where a huge steelworks became the south-eastern port city's last holdout until they surrendered late last month.
In the city of Sloviansk, about 80 kilometres from Severodonetsk, residents spoke of constant bombardments by Russian troops.
Paramedic Ekaterina Perednenko said she had only returned to the city five days ago but soon realised that she would have to leave again.
“It's very difficult here," she said. "Shooting is everywhere, it's scary. No water, electricity or gas."
Another local, Leonid, said he was also leaving the city and would seek refuge elsewhere in Europe.
“I feel pain” he said. "The most prominent feeling I have is that we didn't deserve this. We don't understand why we are punished like this."
Valeriy Zaluzhnyi, Commander in Chief of Ukraine's armed forces, pleaded for more modern arms from Nato and said “the enemy has a decisive advantage in artillery”.
“It will save the lives of our people,” he said.
Bridget Brink, the new US ambassador to Kyiv, promised on Thursday that the US would “help Ukraine prevail against Russian aggression” after presenting her credentials to Mr Zelenskyy.
This week, the US announced that it was sending more advanced, Himars multiple rocket launch systems to Ukraine.
The mobile units can simultaneously fire several precision-guided munitions up to 80km.
They are the centrepiece of a $700 million military assistance package that includes air-surveillance radar, more Javelin short-range anti-tank missiles, artillery ammunition, helicopters, armoured vehicles and spare parts.
Kremlin spokesman Dmitry Peskov accused Washington of “adding fuel to the fire”, although US officials insist Ukraine has promised not to use them to carry out strikes inside Russia.
Beyond sending arms to Ukraine, western allies have also sought to choke off Russia's financial lifeline in a bid to get Russian President Vladimir Putin to change course.
Stepping up an already long list of embargoes, the US blacklisted Mr Putin's money manager and a Monaco company that provides luxury yachts to some of Moscow's elite.
Across the Atlantic, EU nations agreed on new sanctions that would halt 90 per cent of Russian oil imports to the bloc by the end of the year.
Russia said European consumers would be the first to pay the price for the partial oil embargo.
But some relief was in view for the overheated oil market as producers including Saudi Arabia agreed to add 648,000 barrels per day to the market in July, up from 432,000.
The war has wrecked Ukraine's economy, forcing the central bank to more than double its key interest rate on Thursday to prop up the hryvna, the local currency.
But the war carries far wider consequences, too, with risks that it could trigger a global food crisis.
Ukraine — one of the world's main producers — will likely export only half the amount of grain that it did in the previous season, the Ukrainian Grain Association said.
The conflict was already translating into higher costs for essentials, from cereals to sunflower oil to corn, with the poor among the hardest hit.
The head of the African Union, Senegalese President Macky Sall, is to visit Russia on Friday for talks with Mr Putin.
The trip is aimed at “freeing up stocks of cereals and fertilisers, the blockage of which particularly affects African countries”, along with easing the Ukraine conflict, Mr Sall's office said.
Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Mohammed bin Zayed Majlis
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
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How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
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6026 – Dh 200
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UAE currency: the story behind the money in your pockets
Company%C2%A0profile
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What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
Notable Yas events in 2017/18
October 13-14 KartZone (complimentary trials)
December 14-16 The Gulf 12 Hours Endurance race
March 5 Yas Marina Circuit Karting Enduro event
March 8-9 UAE Rotax Max Challenge
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Haltia.ai%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Arto%20Bendiken%20and%20Talal%20Thabet%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20AI%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2041%0D%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20About%20%241.7%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self%2C%20family%20and%20friends%26nbsp%3B%3C%2Fp%3E%0A
Six large-scale objects on show
- Concrete wall and windows from the now demolished Robin Hood Gardens housing estate in Poplar
- The 17th Century Agra Colonnade, from the bathhouse of the fort of Agra in India
- A stagecloth for The Ballet Russes that is 10m high – the largest Picasso in the world
- Frank Lloyd Wright’s 1930s Kaufmann Office
- A full-scale Frankfurt Kitchen designed by Margarete Schütte-Lihotzky, which transformed kitchen design in the 20th century
- Torrijos Palace dome
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The team
Videographer: Jear Velasquez
Photography: Romeo Perez
Fashion director: Sarah Maisey
Make-up: Gulum Erzincan at Art Factory
Models: Meti and Clinton at MMG
Video assistant: Zanong Maget
Social media: Fatima Al Mahmoud