Live updates: Follow the latest news on Israel-Gaza
Spain will send the UN agency for Palestinian refugees (UNRWA) an additional €3.5 million in aid, Foreign Minister Jose Manuel Albares said on Monday, as European leaders warned of further regional instability should the agency collapse due to lack of finance.
Major donors to the UNRWA, including the US and Germany, suspended funding after Israel accused 12 of its 13,000 Palestinian employees in Gaza of involvement in the Hamas-led attacks in Israel on October 7.
"UNRWA's situation is desperate and there is a serious risk its humanitarian activities will be paralysed in Gaza within a few weeks," Mr Albares told politicians.
Madrid contributed €18.5 million directly to UNRWA last year, including €10 million approved in December after the decision to triple development and humanitarian aid to the Palestinian territories.
Portugal has announced additional aid to UNRWA worth €1 million. Its Foreign Minister Joao Cravinho wrote on social media platform X that it was essential "not to turn our backs on the Palestinian population at this difficult time".
The announcements come as some European leaders have raised concerns about the dangers of cutting off the organisation's funding.
Norway, a close ally of the EU but not an EU member, has said there is "no plan B" if the agency collapses.
In a blog post, the bloc's foreign policy chief Josep Borrell said "defunding UNRWA would be both disproportionate and dangerous".
UNRWA's suspended funds amount to $440 million and it has said it may be forced to shut down operations across the region by the end of this month.
On Monday UN Secretary General Antonio Guterres announced a review of the agency's mechanisms to ensure neutrality, and whether they were breached.
Led by former French Foreign Minister Catherine Colonna, the review is set to start on February 14, with a final report to be released to the public in April. It will take place in parallel with a UNRWA investigation into Israel's claims.
Mr Borrell said he fully trusted the UN's investigation process and claimed there had been "misunderstandings and disinformation" regarding UNRWA's funding.
"Neither the European Commission nor Germany or France have decided to end their contributions," he said. "Some EU member states will even front-load and increase their payments."
Yet questions remain following a string of announcements by EU countries and the bloc on their funding to UNRWA.
Germany said it would not approve new funding until UNRWA terminated its internal investigation into Israeli claims, and has also clarified that no payments are pending.
France has said that it has not suspended transfers to UNRWA while also saying that there are no planned disbursements in the first semester of 2024. France had doubled its aid to UNRWA to €60 million last year.
Last week Sweden's Minister for International Development Co-operation Johan Forssell said his country would pause funding and that the funds would go instead to other humanitarian organisations.
Contacted by The National, the Swedish government agency for development cooperation (SIDA) said it would wait for UNRWA's interim report to be produced before deciding whether it would transfer a planned SEK 31 million (€2.7 million) in emergency appeals.
SIDA directed The National to contact the Ministry of Foreign Affairs regarding its core support of SEK 400 million (€35.1 million) to the agency. The ministry had not answered by the time of publication.
"The decisions on the other partners to receive funding for 2024 are still formally to be made," said SIDA.
The EU did not suspend payments to UNRWA but has yet to decide whether it will later this month disburse a planned transfer of €82 million for 2024.
In a statement last week, the bloc said it would "determine upcoming funding decisions for UNRWA in light of the very serious allegations" made by Israel.
Brussels also requested an audit of the UNRWA by independent experts and a review of all the agency's staff. It remains unclear whether the EU was involved in appointing the review group led by Ms Colonna.
The European Commission – the bloc's executive arm – has been widely criticised for muddled messaging on Palestinian aid. Following the October 7 attacks, Hungarian commissioner Oliver Varhelyi announced all payments to Palestinian territories would be suspended. The bloc later clarified this was not the case, though it conducted a review of its aid.
The positioning of EU countries on UNRWA funding is likely to be discussed at the next meeting of the bloc's foreign ministers in Brussels next Monday. Mr Borrell said he had invited UNRWA chief Philippe Lazzarini and UN co-ordinator for Gaza Sigrid Kaag to brief European ministers at the meeting.
Israeli government members have long wanted the UNRWA to be shut down, Mr Borrell said.
"But suppressing the agency would not make the issue of Palestinian refugees vanish, it would only make it worse," he said.
"Advocating for the end of UNRWA often confuses cause with consequence. The agency's continued existence, since it was established in 1949, is the direct consequence of the fact that the Israeli-Palestinian conflict has never been resolved."
BELGIUM%20SQUAD
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Specs – Taycan 4S
Engine: Electric
Transmission: 2-speed auto
Power: 571bhp
Torque: 650Nm
Price: Dh431,800
Specs – Panamera
Engine: 3-litre V6 with 100kW electric motor
Transmission: 2-speed auto
Power: 455bhp
Torque: 700Nm
Price: from Dh431,800
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
The biog
DOB: March 13, 1987
Place of birth: Jeddah, Saudi Arabia but lived in Virginia in the US and raised in Lebanon
School: ACS in Lebanon
University: BSA in Graphic Design at the American University of Beirut
MSA in Design Entrepreneurship at the School of Visual Arts in New York City
Nationality: Lebanese
Status: Single
Favourite thing to do: I really enjoy cycling, I was a participant in Cycling for Gaza for the second time this year
Sholto Byrnes on Myanmar politics
COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)
Date started: August 2021
Founder: Nour Sabri
Based: Dubai, UAE
Sector: E-commerce / Marketplace
Size: Two employees
Funding stage: Seed investment
Initial investment: $200,000
Investors: Amr Manaa (director, PwC Middle East)
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
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
5 of the most-popular Airbnb locations in Dubai
Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:
• Dubai Marina
The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.
Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739
Two bedroom: Dh627 to Dh960
Three bedroom: Dh721 to Dh1,104
• Downtown
Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure. “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."
Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154
• City Walk
The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena. “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”
Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809
Two bedroom: Dh682 to Dh1,052
Three bedroom: Dh784 to Dh1,210
• Jumeirah Lake Towers
Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.
Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629
Two bedroom: Dh549 to Dh818
Three bedroom: Dh631 to Dh941
• Palm Jumeirah
Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.
Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770
Two bedroom: Dh654 to Dh1,002
Three bedroom: Dh752 to Dh1,152
