The UN's special envoy for the Middle East urged Israel on Wednesday to cease all settlement activity “immediately”, in line with its obligations under international law.
During the monthly UN Security Council meeting on the Israeli-Palestinian conflict, Tor Wennesland said he was “deeply troubled” by continued Israeli settlement expansion, including the recent authorisation of nine illegal outposts and the advancement of more than 7,000 settlement housing units.
“Israeli settlements have no legal validity and constitute a flagrant violation of international law and United Nations resolutions,” said the special envoy for the Middle East Peace Process.
Citing “numerous human rights violations” in East Jerusalem including the “forcible transfer” of Palestinians, Mr Wennesland called for an end to any actions that threaten “to plunge Palestinians and Israelis deeper into deadly crisis”.
He called on Israeli and Palestinian leaders to help “calm the situation” before Ramadan, which coincides with the Jewish holiday of Passover and Easter in Christianity, and move towards re-establishing a “political horizon”.
Israeli and Palestinian authorities agreed to lower tension before Ramadan during a meeting in Sharm El Sheikh, Egypt, last Sunday.
Prime Minister Benjamin Netanyahu’s far-right government has made settlement expansion its top priority.
On Tuesday, the Israeli Parliament voted to repeal the provisions of the 2005 Disengagement Law through which four Jewish settlements in the West Bank were dismantled at the same time Israeli forces withdrew from the Gaza Strip.
It still must be signed by an Israeli military commander to be enforced.
The US said on Tuesday that it was “extremely troubled” by the parliament's vote in support of settlements and called the move “provocative”.
Israel’s Finance Minister Bezalel Smotrich said on Sunday at a private event in Paris that the Palestinian people were “an invention” from the last century and there was “no such thing” as Palestinians.
Riyad Mansour, Palestine’s UN ambassador, said Mr Smotrich’s comments were not about the past but about a “vision for the future, which is infinitely more dangerous”.
“He is denying our existence to justify what is to come,” Mr Mansour told Security Council members.
Gilad Erdan, Israel’s UN ambassador, said Mr Smotrich had since apologised for his remarks. Regarding Israel's decision to repeal the 2005 Disengagement Law, Mr Erdan said Israel does not “see it as an act of provocation”.
He added that the country has “no intention of building any new communities” in the occupied West Bank.
Linda Thomas-Greenfield, the US ambassador to the UN, noted that Washington continues to believe that a two-state solution remains the “best way” to ensure Israeli and Palestinians can live side by side in peace and security, even though prospects for such a solution “feel remote at the moment”.
yallacompare profile
Date of launch: 2014
Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer
Based: Media City, Dubai
Sector: Financial services
Size: 120 employees
Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Winners
Best Men's Player of the Year: Kylian Mbappe (PSG)
Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)
TikTok Fans’ Player of the Year: Robert Lewandowski
Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)
Best Women's Player of the Year: Alexia Putellas (Barcelona)
Best Men's Club of the Year: Chelsea
Best Women's Club of the Year: Barcelona
Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)
Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)
Best Coach of the Year: Roberto Mancini (Italy)
Best National Team of the Year: Italy
Best Agent of the Year: Federico Pastorello
Best Sporting Director of the Year: Txiki Begiristain (Manchester City)
Player Career Award: Ronaldinho
MATCH INFO
What: Brazil v South Korea
When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
More coverage from the Future Forum
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5