Palestinians carry bags of flour they grabbed from an aid truck near an Israeli checkpoint in Gaza City, February 19, 2024. Reuters
Palestinians carry bags of flour they grabbed from an aid truck near an Israeli checkpoint in Gaza City, February 19, 2024. Reuters
Palestinians carry bags of flour they grabbed from an aid truck near an Israeli checkpoint in Gaza City, February 19, 2024. Reuters
Palestinians carry bags of flour they grabbed from an aid truck near an Israeli checkpoint in Gaza City, February 19, 2024. Reuters

Israel accused of deliberately blocking humanitarian aid to Gaza


Sunniva Rose
  • English
  • Arabic

Live updates: Follow the latest news on Israel-Gaza

Humanitarian organisations operating in Palestinian territories on Tuesday said that Israel was deliberately obstructing the delivery of aid in the besieged Gaza Strip.

It comes after Israel has claimed that it is doing its best to protect civilian lives.

The NGOs called on Israel's strongest allies – the US and Germany – to match their expressions of concern over the civilian suffering in Gaza with actions that could include a suspension of weapon sales to Israel.

“Our efforts to deliver life-saving aid are deliberately obstructed by Israel,” said Sally Abi Khalil, regional director of Oxfam in the Middle East and North Africa.

“Most assistance is unable to go beyond Rafah or Khan Younis, leaving critical needs unmet in Gaza city and the north.

“We are hearing report after report of Palestinians forced to eat animal feed and fodder, of people dying from hunger and of women who cannot produce breast milk.”

Israel has until Friday to submit a report to the International Court of Justice, providing details of what it has done to comply with the world's top court January 26 request that it take all measures to prevent acts of genocide in the Gaza Strip.

In a binding order, the court requested that Israel “take immediate and effective measures” to enable the entry of humanitarian assistance into the enclave where close to 30,000 people have been killed since October.

But aid workers said that Israel had done nothing to enforce the order – and the situation had instead worsened.

“We can say there is no way that it can be justified in any way possible that Israel has fulfilled its obligations to implement the provisional measures,” said Erika Guevara Rosas, senior director for research at Amnesty International.

“If anything, it's been a downturn” since January 26, said Jeremy Konyndyk, president of Refugees International.

“There’s been smaller proportion of aid missions being allowed to the north and there has been no perceptible increase in the number of lorries getting in,” he added.

UAE aid ship arrives in Al Arish in Egypt - in pictures

  • More than 4,500 tonnes of humanitarian aid from the UAE for the people of Gaza, the second such shipment, arrives at Al Arish in Egypt. Mohammed Khamis / Wam
    More than 4,500 tonnes of humanitarian aid from the UAE for the people of Gaza, the second such shipment, arrives at Al Arish in Egypt. Mohammed Khamis / Wam
  • The ship left the Port of Fujairah on February 3 carrying 4,303 tonnes of food, 154 tonnes of shelter materials and 87 tonnes of medical provisions and equipment provided by Khalifa bin Zayed Al Nahyan Foundation, the Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation and the Emirates Red Crescent. Victor Besa / The National
    The ship left the Port of Fujairah on February 3 carrying 4,303 tonnes of food, 154 tonnes of shelter materials and 87 tonnes of medical provisions and equipment provided by Khalifa bin Zayed Al Nahyan Foundation, the Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation and the Emirates Red Crescent. Victor Besa / The National
  • The mission was organised under the UAE's Gallant Knight 3 operation on the directives of President Sheikh Mohamed. Victor Besa / The National
    The mission was organised under the UAE's Gallant Knight 3 operation on the directives of President Sheikh Mohamed. Victor Besa / The National
  • Al Arish has become a focus for the UAE's efforts to assist the Palestinian people. Victor Besa / The National
    Al Arish has become a focus for the UAE's efforts to assist the Palestinian people. Victor Besa / The National
  • Egypt said it had increased its 'security preparedness' for the arrival of the aid ship given developments in the city of Rafah. Victor Besa / The National
    Egypt said it had increased its 'security preparedness' for the arrival of the aid ship given developments in the city of Rafah. Victor Besa / The National
  • Rashid Al Mansoori, acting secretary general of Emirates Red Crescent, said another ship that had been converted into a field hospital will arrive in Al Arish. Victor Besa / The National
    Rashid Al Mansoori, acting secretary general of Emirates Red Crescent, said another ship that had been converted into a field hospital will arrive in Al Arish. Victor Besa / The National
  • A UAE Aid for Gaza warehouse at Al Arish in Egypt. Victor Besa / The National
    A UAE Aid for Gaza warehouse at Al Arish in Egypt. Victor Besa / The National
  • Sultan Al Neyadi, left, Minister of State for Youth Affairs, Mohamed Shousha, right, North Sinai Governor and Rashid Al Mansoori, centre, acting secretary general of the ERC, tour the aid ship at Al Arish. Victor Besa / The National
    Sultan Al Neyadi, left, Minister of State for Youth Affairs, Mohamed Shousha, right, North Sinai Governor and Rashid Al Mansoori, centre, acting secretary general of the ERC, tour the aid ship at Al Arish. Victor Besa / The National

Mr Konydnyk's comments came shortly after the World Food Programme said it would pause its aid deliveries in north Gaza due to “complete chaos and violence.”

Israel allowed the WFP's aid lorries into northern Gaza on Sunday and Monday after a three-week halt.

About 300,000 people are believed to still be living in the north of Gaza and face the possibility of famine, the UN says.

The WFP has said that one in six children in the area are acutely malnourished. Before the war, malnutrition was rare among Gazan children.

Another 1.3 million Gazans have fled to the southern city of Rafah.

Israel has warned it is preparing a military incursion into Rafah, but aid agencies and Palestinians have said they have nowhere left to flee.

Jordanian and Dutch airforce drop supply to Gaza hospital - in pictures

  • Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
    Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
  • Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
    Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
  • Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
    Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
  • Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
    Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
  • Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
    Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
  • Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
    Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
  • Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
    Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
  • Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces
    Jordanian and Dutch airforce drop supply to Gaza hospital. Photo: Jordanian Armed Forces

The only solution is a ceasefire, say NGOs.

“The consequences of a full-scale assault on Rafah are truly unimaginable,” said Avril Benoit, executive director of Doctors Without Borders in the US.

“Carrying out a military offensive there would turn it into a graveyard.”

Rafah is the end of the line, she told reporters.

“It's the last hub of healthcare services and humanitarian assistance for the people in Gaza.”

The Israeli war cabinet has warned that it will go ahead with the offensive by next month unless Hamas frees all the hostages it still holds.

It was the Palestinian group's attacks on October 7 against Israel, which killed about 1,200 Israelis, that sparked the Israeli military response in Gaza.

Hamas is considered a terror group by most western countries and Israel.

The humanitarian crisis caused by the war has caused concern in western capitals but no Israeli ally has exerted significant pressure for the military to change course.

“There is a weird dynamic when we talk to American policymakers about this,” said Mr Konydnyk.

“There is wide recognition up to highest levels of US government about just how bad it is getting within Gaza, [but] they are still extending great deference to the Israeli government despite most or virtually all of their pleas being completely ignored.”

Aid from the UAE permitted to enter Gaza - video

Tsafrir Cohen, executive director of Medico international, said that “the political constellation in Israel, is such that without external pressure, these atrocities will not end”.

“It is therefore extremely urgent that we call on Israel’s two closest allies namely the governments of the US and my native Germany to immediately stop giving Israel’s government a carte blanche and to condition support including first and foremost military support to an end of the atrocities,” said Mr Cohen.

The EU's top diplomat Josep Borrell said earlier this month that the US should stop exporting weapons to Israel but such calls have fallen on deaf ears.

The Dutch government also recently appealed a decision by a Dutch court ordering it to stop exporting F-35 parts to Israel following a lawsuit filed by NGOs including Oxfam.

NGOs also criticised what they described as US “weaponisation” of its vote at the UN Security Council to block calls for a ceasefire in Gaza.

An Arab-backed resolution drafted by Algeria received 13 votes in favour, an abstention from Britain and the US veto on Tuesday.

US President Joe Biden “has repeatedly mentioned concern over the many lives lost in Gaza”, said Ms Guevara Rosas.

“But unfortunately we don't see any action. On the contrary, again, [the US] are weaponising their veto power at the Security Council to block any call for a ceasefire. Their words are not matching their actions.”

Cinco in numbers

Dh3.7 million

The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown

46

The number, in kilograms, that Swarovski’s wedding gown weighed.

1,000

The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]

50

How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday

3,000

The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.

1.1 million

The number of followers that Michael Cinco’s Instagram account has garnered.

Tonight's Chat on The National

Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.

Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.

Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

Facebook | Our website | Instagram

UAE currency: the story behind the money in your pockets
'The Lost Daughter'

Director: Maggie Gyllenhaal

Starring: Olivia Colman, Jessie Buckley, Dakota Johnson

Rating: 4/5

Previous men's records
  • 2:01:39: Eliud Kipchoge (KEN) on 16/9/19 in Berlin
  • 2:02:57: Dennis Kimetto (KEN) on 28/09/2014 in Berlin
  • 2:03:23: Wilson Kipsang (KEN) on 29/09/2013 in Berlin
  • 2:03:38: Patrick Makau (KEN) on 25/09/2011 in Berlin
  • 2:03:59: Haile Gebreselassie (ETH) on 28/09/2008 in Berlin
  • 2:04:26: Haile Gebreselassie (ETH) on 30/09/2007 in Berlin
  • 2:04:55: Paul Tergat (KEN) on 28/09/2003 in Berlin
  • 2:05:38: Khalid Khannouchi (USA) 14/04/2002 in London
  • 2:05:42: Khalid Khannouchi (USA) 24/10/1999 in Chicago
  • 2:06:05: Ronaldo da Costa (BRA) 20/09/1998 in Berlin
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

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20M3%2C%208-core%20CPU%2C%20up%20to%2010-core%20CPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2013.6-inch%20Liquid%20Retina%2C%202560%20x%201664%2C%20224ppi%2C%20500%20nits%2C%20True%20Tone%2C%20wide%20colour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F16%2F24GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201%2F2TB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20Thunderbolt%203%2FUSB-4%20(2)%2C%203.5mm%20audio%2C%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206E%2C%20Bluetooth%205.3%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%2052.6Wh%20lithium-polymer%2C%20up%20to%2018%20hours%2C%20MagSafe%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%201080p%20FaceTime%20HD%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20Support%20for%20Apple%20ProRes%2C%20HDR%20with%20Dolby%20Vision%2C%20HDR10%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%204-speaker%20system%2C%20wide%20stereo%2C%20support%20for%20Dolby%20Atmos%2C%20Spatial%20Audio%20and%20dynamic%20head%20tracking%20(with%20AirPods)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Midnight%2C%20silver%2C%20space%20grey%2C%20starlight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20MacBook%20Air%2C%2030W%2F35W%20dual-port%2F70w%20power%20adapter%2C%20USB-C-to-MagSafe%20cable%2C%202%20Apple%20stickers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh4%2C599%3C%2Fp%3E%0A

Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.

 

 

SPECS
%3Cp%3E%0D%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%204.0-litre%20twin-turbo%20V8%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20750hp%20at%207%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20800Nm%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%207%20Speed%20dual-clutch%20auto%0D%0D%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20332kph%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%2012.2L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EYear%20end%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh1%2C430%2C000%20(coupe)%3B%20From%20Dh1%2C566%2C000%20(Spider)%3C%2Fp%3E%0A
Teri%20Baaton%20Mein%20Aisa%20Uljha%20Jiya
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Amit%20Joshi%20and%20Aradhana%20Sah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECast%3A%3C%2Fstrong%3E%20Shahid%20Kapoor%2C%20Kriti%20Sanon%2C%20Dharmendra%2C%20Dimple%20Kapadia%2C%20Rakesh%20Bedi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
The%C2%A0specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4.4-litre%2C%20twin-turbo%20V8%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3Eeight-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E617hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E750Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh630%2C000%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

Russia's Muslim Heartlands

Dominic Rubin, Oxford

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

Updated: February 21, 2024, 2:21 PM