Follow the latest news on the missing Titanic sub here
Stockton Rush, the man behind the missing Titanic submarine, has a dream: to revolutionise underwater travel in a manner akin to how industry giants such as Elon Musk, Richard Branson, and Jeff Bezos are reshaping space travel.
The owner of Oceangate, the company that operates the submersible, is believed to be on board Titan with British billionaire Hamish Harding, Shahzada and Suleman Dawood and Paul Henry Nargeolet.
Before the latest mission, he said of his first dive in the sub: “This is amazing. It’s just such a different experience. It’s a totally different emotion.”
His long-held plans to open up the depths to tourists were revealed in a TV programme.
The pioneer of deep-sea exploration guided a group of paying adventurers to the bottom of the Atlantic Ocean to explore the world's most famous wreck, the Titanic.
Mr Rush explained: "This is not your grandfather’s submarine. It has one button, and that’s it. We run the sub with this game controller. It’s made by Logitech but it’s basically a Sony PlayStation style controller".
The expedition, which was filmed for an episode of the BBC Travel programme, was a major milestone in Mr Rush's quest to make deep-sea exploration more accessible.
He appeared on the programme wearing a branded polo shirt, talking excitedly about his dream of diving and exploring famous locations.
“I read an article that said there are three words in the English language which are known throughout the planet,” Mr Rush said. “That's Coca-Cola, God and Titanic.”
Mr Rush imagines a future where anyone – provided they have the financial means – can embark on adventurous voyages to uncharted depths, with no special training required.
To Mr Rush, the founder of a venture aimed at democratising deep-sea exploration, the site of the world's most infamous shipwreck was a compelling lure, a “must-do dive”.
Transforming this Titanic dream into reality was no small feat. Mr Rush had to pioneer a new class of submersible, engineered from lightweight materials capable of conveying up to five people from the ship to the depths where the Titanic rests.
Many doubted the feasibility of such an ambitious undertaking.
Nevertheless, Mr Rush proved the sceptics wrong when he successfully reached the wreck site last year.
In the episode, which was broadcast in October 2022, the explorer was accompanied by the crew, OceanGate staff, scientists, and the so-called “mission specialists”.
This critical contingent of paying adventurers had each parted with up to $250,000 for the unique opportunity to see Titanic up close.
Aside from the sheer thrill of the expedition, the mission specialists were also given the chance to contribute as citizen scientists. They were responsible for capturing images and video footage of the deep-sea biodiversity, thereby playing a role in broadening our understanding of these largely unexplored realms.
Who is Stockton Rush?
Mr Rush's career began in aviation, becoming the youngest jet transport rated pilot at the age of 19.
During college, he journeyed to exotic destinations such as Cairo and Damascus as a DC-8 first officer.
Over the last two decades, Mr Rush has been instrumental in various successful intellectual property ventures, including a significant role in BlueView Technologies' acquisition by Teledyne Inc.
Mr Rush constructed a Glasair III experimental aircraft and a modified Kittredge K-350 two-man submersible, conducting over 30 dives.
An alumnus of Princeton University and UC Berkeley Haas School of Business, Mr Rush has penned numerous engineering articles and spoken widely on the burgeoning ocean economy.
The bio
His favourite book - 1984 by George Orwell
His favourite quote - 'If you think education is expensive, try ignorance' by Derek Bok, Former President of Harvard
Favourite place to travel to - Peloponnese, Southern Greece
Favourite movie - The Last Emperor
Favourite personality from history - Alexander the Great
Role Model - My father, Yiannis Davos
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
SRI LANKA SQUAD
Upul Tharanga (captain), Dinesh Chandimal, Niroshan Dickwella
Lahiru Thirimanne, Kusal Mendis, Milinda Siriwardana
Chamara Kapugedara, Thisara Perera, Seekuge Prasanna
Nuwan Pradeep, Suranga Lakmal, Dushmantha Chameera
Vishwa Fernando, Akila Dananjaya, Jeffrey Vandersay
Company profile
Name: Tharb
Started: December 2016
Founder: Eisa Alsubousi
Based: Abu Dhabi
Sector: Luxury leather goods
Initial investment: Dh150,000 from personal savings
COMPANY%20PROFILE
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The Sheikh Zayed Future Energy Prize
This year’s winners of the US$4 million Sheikh Zayed Future Energy Prize will be recognised and rewarded in Abu Dhabi on January 15 as part of Abu Dhabi Sustainable Week, which runs in the capital from January 13 to 20.
From solutions to life-changing technologies, the aim is to discover innovative breakthroughs to create a new and sustainable energy future.
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
The Gandhi Murder
- 71 - Years since the death of MK Gandhi, also christened India's Father of the Nation
- 34 - Nationalities featured in the film The Gandhi Murder
- 7 - million dollars, the film's budget
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
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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