Britain, Germany and the Netherlands warn citizens to leave Benghazi


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LONDON // Libya yesterday said a British warning to its nationals to evacuate Benghazi was unjustified and overblown, even as Germany and the Netherlands also urged their citizens to leave.

Describing the tone of a London statement that warned of a "high threat" of terrorism as "astonishing", Abdullah Massoud, Libya's deputy interior minister, said that there were "question marks" over the warning.

"Nothing justifies this reaction," Mr Massoud said.

The advisory, which was issued by Britain's Foreign and Commonwealth Office (FCO) yesterday, said there was a "specific and imminent" threat to westerners in Benghazi, and urged all Britons to leave the city.

Germany later urged any of its nationals still in Benghazi to leave "immediately", while the Dutch foreign ministry spokesman, Thijs van Son, said "staying in this area is not to be advised".

The FCO declined to offer specific details about its warning about the city, where the Libyan rebellion against the regime of Muammar Qaddafi was headquartered and where a US ambassador was killed during an attack on the US consulate last year.

Benghazi has been under a British travel advisory since that attack and the FCO said not many Britons were likely to still be there.

But for those who were, the UK government warned of a "high threat from terrorism", and said attacks could be indiscriminate.

It also cautioned about the danger of kidnapping.

The warning cited France's military intervention in Mali as a possible cause for "retaliatory attacks" and urged Britons to stay away from large crowds or demonstrations.

It comes less than a week after a hostage crisis at a gas plant in Algeria in which nearly 800 people, mostly Algerians, were taken hostage and more than 60 were killed.

The man who claimed responsibility for that attack, Mokhtar Belmokhtar - a former cigarette smuggler and Al Qaeda commander who split from the movement and created his own militant group - said it was an act of retaliation against France, which is fighting on behalf of Mali's military-installed government against Islamist insurgents in the north of the country.

* With additional reporting by Agence France-Presse

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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 name: Farmin

Date started: March 2019

Founder: Dr Ali Al Hammadi 

Based: Abu Dhabi

Sector: AgriTech

Initial investment: None to date

Partners/Incubators: UAE Space Agency/Krypto Labs 

Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds  

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

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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