• Security personnel stand guard after a raid on an anti-government protest camp in Colombo early on Friday, amid Sri Lanka's economic crisis. Reuters
    Security personnel stand guard after a raid on an anti-government protest camp in Colombo early on Friday, amid Sri Lanka's economic crisis. Reuters
  • Anti-government protesters speak with members of Sri Lankan security forces. AFP
    Anti-government protesters speak with members of Sri Lankan security forces. AFP
  • A policeman walks past slogans against the newly elected Sri Lankan President Ranil Wickramasinghe in Colombo. AFP
    A policeman walks past slogans against the newly elected Sri Lankan President Ranil Wickramasinghe in Colombo. AFP
  • Ranil Wickremesinghe is sworn in as the new president of Sri Lanka by Chief Justice Jayantha Jayasuriya. Reuters
    Ranil Wickremesinghe is sworn in as the new president of Sri Lanka by Chief Justice Jayantha Jayasuriya. Reuters
  • Mr Wickremesinghe, centre, arrives at his swearing-in ceremony in Colombo. EPA
    Mr Wickremesinghe, centre, arrives at his swearing-in ceremony in Colombo. EPA
  • Ranil Wickremesinghe leaves a Buddhist temple in Colombo after he was named as Sri Lanka's eighth executive president. Reuters
    Ranil Wickremesinghe leaves a Buddhist temple in Colombo after he was named as Sri Lanka's eighth executive president. Reuters
  • Sri Lankans protest after Mr Wickremesinghe defeated Dullas Alahapperuma, a member of the breakaway faction of the ruling Sri Lanka Podujana Peramuna party, by 134 votes to 82 in a parliamentary vote to pick the next president. Getty
    Sri Lankans protest after Mr Wickremesinghe defeated Dullas Alahapperuma, a member of the breakaway faction of the ruling Sri Lanka Podujana Peramuna party, by 134 votes to 82 in a parliamentary vote to pick the next president. Getty
  • Dinesh Gunawardena, centre, leader of the House of Parliament, arrives at Gangaramaya Temple in Colombo. Getty
    Dinesh Gunawardena, centre, leader of the House of Parliament, arrives at Gangaramaya Temple in Colombo. Getty
  • Soldiers stand guard at the Presidential Secretariat after Mr Wickremesinghe was announced as Sri Lanka's new president. Getty
    Soldiers stand guard at the Presidential Secretariat after Mr Wickremesinghe was announced as Sri Lanka's new president. Getty
  • Protesters watch a live broadcast of the parliamentary vote to pick Sri Lanka's new president. EPA
    Protesters watch a live broadcast of the parliamentary vote to pick Sri Lanka's new president. EPA
  • A screen grab of Mr Wickremesinghe, bottom left, during the vote count announcement in Sri Lanka's Parliament. AFP
    A screen grab of Mr Wickremesinghe, bottom left, during the vote count announcement in Sri Lanka's Parliament. AFP
  • Mr Alahapperuma, bottom right, during the parliamentary vote in Colombo. AFP
    Mr Alahapperuma, bottom right, during the parliamentary vote in Colombo. AFP
  • A supporter celebrates in Colombo after Mr Wickremesinghe was elected as president. Reuters
    A supporter celebrates in Colombo after Mr Wickremesinghe was elected as president. Reuters
  • Mr Wickremesinghe's supporters celebrate in the capital after his election as Sri Lankan president. Getty
    Mr Wickremesinghe's supporters celebrate in the capital after his election as Sri Lankan president. Getty
  • Sri Lankans protest after the announcement of Mr Wickremesinghe as president. Getty
    Sri Lankans protest after the announcement of Mr Wickremesinghe as president. Getty
  • Demonstrators watch a public screen as voting begins in Sri Lanka's Parliament. Reuters
    Demonstrators watch a public screen as voting begins in Sri Lanka's Parliament. Reuters
  • Protesters in Colombo demand Mr Wickremesinghe's resignation as prime minister and acting president before the parliamentary vote. AP
    Protesters in Colombo demand Mr Wickremesinghe's resignation as prime minister and acting president before the parliamentary vote. AP
  • Demonstrators carry an effigy of Mr Wickremesinghe. AFP
    Demonstrators carry an effigy of Mr Wickremesinghe. AFP
  • Demonstrators take part in a procession against Mr Wickremesinghe. AFP
    Demonstrators take part in a procession against Mr Wickremesinghe. AFP
  • Demonstrators shout slogans. AFP
    Demonstrators shout slogans. AFP
  • Sri Lankan demonstrators take part in a celebration in Colombo to mark the 100th day of protests. AFP
    Sri Lankan demonstrators take part in a celebration in Colombo to mark the 100th day of protests. AFP
  • After months of street protests, Sri Lanka’s parliament will elect a new president to replace Gotabaya Rajapaksa on Wednesday. AFP
    After months of street protests, Sri Lanka’s parliament will elect a new president to replace Gotabaya Rajapaksa on Wednesday. AFP
  • The country faces its worst economic crisis in decades due to the lack of foreign reserves, resulting in severe shortages of food, fuel, medicines and imported goods. Getty
    The country faces its worst economic crisis in decades due to the lack of foreign reserves, resulting in severe shortages of food, fuel, medicines and imported goods. Getty
  • Soldiers lower the national flag at Galle Face Green in Colombo. Getty
    Soldiers lower the national flag at Galle Face Green in Colombo. Getty
  • A demonstrator writes a slogan against acting president Ranil Wickremesinghe. AFP
    A demonstrator writes a slogan against acting president Ranil Wickremesinghe. AFP
  • Mr Wickremesinghe is a top contender in the race to succeed Mr Rajapaksa. AFP
    Mr Wickremesinghe is a top contender in the race to succeed Mr Rajapaksa. AFP
  • People light candles in the capital in memory of protesters killed or wounded since the demonstrations began. EPA
    People light candles in the capital in memory of protesters killed or wounded since the demonstrations began. EPA
  • Police officers stand guard outside Parliament in Colombo. Reuters
    Police officers stand guard outside Parliament in Colombo. Reuters
  • The vandalised office of the Sri Lankan president inside his official residence in the capital. Getty
    The vandalised office of the Sri Lankan president inside his official residence in the capital. Getty
  • Police officials gather evidence at the president’s official residence after it was overrun by anti-government protesters on July 9. AFP
    Police officials gather evidence at the president’s official residence after it was overrun by anti-government protesters on July 9. AFP
  • Sri Lankan Prime Minister Ranil Wickremesinghe, right, is sworn in as acting president by Chief Justice Jayantha Jayasuriya in Colombo. EPA
    Sri Lankan Prime Minister Ranil Wickremesinghe, right, is sworn in as acting president by Chief Justice Jayantha Jayasuriya in Colombo. EPA
  • Parliamentary Speaker Mahinda Yapa Abeywardena addresses the media in Colombo. AFP
    Parliamentary Speaker Mahinda Yapa Abeywardena addresses the media in Colombo. AFP
  • People dance in Colombo as they celebrate the resignation of Mr Rajapaksa amid the country’s economic crisis. Reuters
    People dance in Colombo as they celebrate the resignation of Mr Rajapaksa amid the country’s economic crisis. Reuters
  • Demonstrators cheer after hearing news that Mr Rajapaksa had emailed his letter of resignation after fleeing months of anti-government protests. Bloomberg
    Demonstrators cheer after hearing news that Mr Rajapaksa had emailed his letter of resignation after fleeing months of anti-government protests. Bloomberg
  • Members of the media wait outside the VIP complex of Changi International Airport in Singapore for the arrival of Mr Rajapaksa, his wife and two bodyguards. Sri Lanka's president left the Maldives on July 14 aboard a Saudia Airlines plane bound for Singapore. AFP
    Members of the media wait outside the VIP complex of Changi International Airport in Singapore for the arrival of Mr Rajapaksa, his wife and two bodyguards. Sri Lanka's president left the Maldives on July 14 aboard a Saudia Airlines plane bound for Singapore. AFP
  • A Saudia Airlines plane believed to be carrying Mr Rajapaksa arrives on the tarmac at Changi Airport in Singapore. EPA
    A Saudia Airlines plane believed to be carrying Mr Rajapaksa arrives on the tarmac at Changi Airport in Singapore. EPA
  • Police officers walk outside Sri Lankan Prime Minister Ranil Wickremesinghe's office, a day after thousands of anti-government protesters stormed the building, when he was named acting president. AFP
    Police officers walk outside Sri Lankan Prime Minister Ranil Wickremesinghe's office, a day after thousands of anti-government protesters stormed the building, when he was named acting president. AFP
  • A Saudia airline Boeing 787 Dreamliner bound for Singapore and carrying Sri Lanka's fleeing president Gotabaya Rajapaksa, his wife and bodyguards prepares to take off at the Velana International airport, in the Maldives. AFP
    A Saudia airline Boeing 787 Dreamliner bound for Singapore and carrying Sri Lanka's fleeing president Gotabaya Rajapaksa, his wife and bodyguards prepares to take off at the Velana International airport, in the Maldives. AFP
  • Sri Lankan soldiers stand guard near the parliament building in Colombo, a day after thousands of anti-government protesters stormed the prime minister's office. AFP
    Sri Lankan soldiers stand guard near the parliament building in Colombo, a day after thousands of anti-government protesters stormed the prime minister's office. AFP
  • A soldier walks past a demonstrator sitting in a meeting room, at the prime minister's offices. AFP
    A soldier walks past a demonstrator sitting in a meeting room, at the prime minister's offices. AFP
  • Soldiers patrol the buildings of the prime minister's office. AFP
    Soldiers patrol the buildings of the prime minister's office. AFP
  • Troops make their way to an anti-government protest at the prime minister's office in Colombo, Sri Lanka. Bloomberg
    Troops make their way to an anti-government protest at the prime minister's office in Colombo, Sri Lanka. Bloomberg
  • Demonstrators takes pictures inside the complex housing the Sri Lankan prime minister's offices. AFP
    Demonstrators takes pictures inside the complex housing the Sri Lankan prime minister's offices. AFP
  • An injured protester lies in an ambulance after clashes with police near parliament in Colombo. AP
    An injured protester lies in an ambulance after clashes with police near parliament in Colombo. AP
  • People wait to enter the presidential palace in Colombo, Sri Lanka. AP
    People wait to enter the presidential palace in Colombo, Sri Lanka. AP
  • Protesters in Colombo hold Sri Lankan flags as they stand on top of the office of acting Prime Minister Ranil Wickremesinghe, amid the country's economic crisis. Reuters
    Protesters in Colombo hold Sri Lankan flags as they stand on top of the office of acting Prime Minister Ranil Wickremesinghe, amid the country's economic crisis. Reuters
  • Protesters demand the resignation of Mr Wickremasinghe. Bloomberg
    Protesters demand the resignation of Mr Wickremasinghe. Bloomberg
  • Police officers stand guard in Colombo. Reuters
    Police officers stand guard in Colombo. Reuters
  • Police fire tear gas to control the crowds. Reuters
    Police fire tear gas to control the crowds. Reuters
  • A protester pours water on a man as tensions soar. Reuters
    A protester pours water on a man as tensions soar. Reuters
  • Protesters throw teargas shells. AP Photo
    Protesters throw teargas shells. AP Photo
  • Protesters storm Prime Minister Ranil Wickremesinghe's office in Colombo, Sri Lanka and demand his resignation, after President Gotabaya Rajapaksa fled the economic and political crisis for the Maldives. AP
    Protesters storm Prime Minister Ranil Wickremesinghe's office in Colombo, Sri Lanka and demand his resignation, after President Gotabaya Rajapaksa fled the economic and political crisis for the Maldives. AP
  • Police use tear gas to disperse Sri Lankan protesters outside the prime minister's office. AP
    Police use tear gas to disperse Sri Lankan protesters outside the prime minister's office. AP
  • A protester sleeps on vandalised furniture inside the presidential palace in Colombo, which has been occupied by demonstrators for days. Getty Images
    A protester sleeps on vandalised furniture inside the presidential palace in Colombo, which has been occupied by demonstrators for days. Getty Images
  • A satellite image shows people gathered outside Sri Lanka's Parliament building in Colombo amid the country's economic and political crisis. AFP
    A satellite image shows people gathered outside Sri Lanka's Parliament building in Colombo amid the country's economic and political crisis. AFP
  • Youths play carrom inside the Sri Lankan prime minister's official residence, which was stormed by protesters at the weekend. Reuters
    Youths play carrom inside the Sri Lankan prime minister's official residence, which was stormed by protesters at the weekend. Reuters
  • People sit on a couch inside the prime minister's official residence. The protests against the government have simmered since May, but erupted again last Saturday. Reuters
    People sit on a couch inside the prime minister's official residence. The protests against the government have simmered since May, but erupted again last Saturday. Reuters
  • Army cadets march past people queuing to get inside Sri Lankan President Gotabaya Rajapaksa's official residence in Colombo. AFP
    Army cadets march past people queuing to get inside Sri Lankan President Gotabaya Rajapaksa's official residence in Colombo. AFP
  • People visit Mr Rajapaksa's official residence in Colombo. It was reported on Wednesday that he had fled the country for the Maldives. AFP
    People visit Mr Rajapaksa's official residence in Colombo. It was reported on Wednesday that he had fled the country for the Maldives. AFP
  • A man takes a selfie at the presidential palace. AP
    A man takes a selfie at the presidential palace. AP
  • Sri Lankans line up to take a look inside the presidential palace in Colombo. EPA
    Sri Lankans line up to take a look inside the presidential palace in Colombo. EPA
  • Crowds flock to take in the presidential palace. EPA
    Crowds flock to take in the presidential palace. EPA
  • A man takes a rest inside the prime minister's official residence in Colombo. EPA
    A man takes a rest inside the prime minister's official residence in Colombo. EPA
  • People sing songs inside the prime minister's official residence. EPA
    People sing songs inside the prime minister's official residence. EPA
  • Protesters erect a banner on the presidential palace three days after it was stormed by anti-government demonstrators in Colombo. AP
    Protesters erect a banner on the presidential palace three days after it was stormed by anti-government demonstrators in Colombo. AP
  • People wait in a queue to collect gas at a distribution point in Colombo. AFP
    People wait in a queue to collect gas at a distribution point in Colombo. AFP
  • Sri Lankans quarrel as they wait for gas at a distribution point. AFP
    Sri Lankans quarrel as they wait for gas at a distribution point. AFP
  • A driver of an autorickshaw sleeps inside his vehicle while waiting in a queue to buy petrol at a fuel station in Colombo. AP
    A driver of an autorickshaw sleeps inside his vehicle while waiting in a queue to buy petrol at a fuel station in Colombo. AP

World

Asia

How did Ranil Wickremesinghe become Sri Lanka's president after six terms as PM?

He has been called 'the eighth wonder of the world' by his fellow Sri Lankans

The National

July 20, 2022

  • English
  • Arabic

Political stalwart Ranil Wickremesinghe became Sri Lanka's president on Wednesday, securing votes from 134 of 225 parliamentarians, despite his United National Party holding only one seat in the chamber.

His election was a blow for many protesters at the secretariat and adjoining protest camp in the commercial capital Colombo, which has been the epicentre of nationwide demonstrations which ousted his predecessor Gotabaya Rajapaksa.

Here's what you need to know about him.

Who is Ranil Wickremesinghe?

Mr Wickremesinghe is no stranger to Sri Lankan politics. A lawyer by profession, he was first elected to the country's parliament in 1977.

His constant reappearance on the political scene, despite multiple failures to be elected president, has led him being called the “eighth wonder of the world" by his fellow Sri Lankans.

Mr Wickremesinghe was born into one of the country's most influential families on March 24, 1949. His uncle, Junius Jayewardene, served as the Indian Ocean island's president for 12 years until 1989.

Jayewardene, who died in 1996, was the original architect of his nephew's entry into politics. He appointed Mr Wickremesinghe to his first ministerial post in 1978, making the 29-year-old at the time the country's youngest Cabinet minister.

In 1994, following assassinations that wiped out several of his senior colleagues, Mr Wickremesinghe became leader of the UNP.

His experience in senior government positions, and a reputation as a shrewd operator, should count in his favour as he seeks a way out of Sri Lanka 's devastating economic crisis.

How many times has he served as Sri Lanka's prime minister?

The 73-year-old has served as prime minister of Sri Lanka six times between 1993 and today.

Speaking about his political survivalism in 2014, he said "politics is more than chess."

"It's teamwork like cricket. It is how you must have the stamina for a marathon. It's a hard game like rugger (rugby) and it is a blood sport like boxing."

His most recent spell on the merry-go-round of senior political positions began in May, when he took over as prime minister for the sixth time after the former president's elder brother, Mahinda Rajapaksa, quit the position following clashes between pro and anti-government protesters that triggered a deadly wave of violence.

Since then, Mr Wickremesinghe has been involved in negotiations with the International Monetary Fund for a potential bailout package of up to $3 billion, besides working on an interim budget to slash government expenditure.

Has he served as president before?

Despite two attempts in 1999 and 2005, Mr Wickremesinghe managed to ascend to the presidency only this week. Both of those losses were humiliating, leaving him as the only MP for his UNP party in parliament.

Mr Wickremesinghe became acting president last week after Rajapaksa fled on a military plane to the Maldives and then took a commercial flight to Singapore.

He will now complete his predecessor's term until 2024, after beating ruling party lawmaker Dullas Alahapperuma and a third candidate, Anura Kumara Dissanayaka.

Speaking to lawmakers in parliament after his victory, Mr Wickremesinghe urged opposition leaders to work together with his administration, which faces the task of pulling Sri Lanka out of its worst economic crisis in seven decades.

"Our country is facing massive challenges and we have to work on a new strategy to fulfil the aspirations of the people," he said.

Who is his wife?

English lecturer Maithree Wickremesinghe, 57, is now the first lady of Sri Lanka. The academic graduated from King's College London and completed her masters in Women's Studies at the University of Colombo. She later attained a PhD from the Institute of Education at the University of London.

She married her husband in 1995. The couple have no children.

What does Mr Wickremesinghe's election mean for Sri Lanka?

  • A demonstrator presents Sri Lanka's new 'Wildlife Minister' at President Gotabaya Rajapaksa's Cabinet meeting room in Colombo. Huge crowds had poured into the city to protest in previous days amid months of unrest sparked by the country's economic collapse. Reuters
    A demonstrator presents Sri Lanka's new 'Wildlife Minister' at President Gotabaya Rajapaksa's Cabinet meeting room in Colombo. Huge crowds had poured into the city to protest in previous days amid months of unrest sparked by the country's economic collapse. Reuters
  • Demonstrators take a break inside Prime Minister Ranil Wickremesinghe's residence in Colombo. Reuters
    Demonstrators take a break inside Prime Minister Ranil Wickremesinghe's residence in Colombo. Reuters
  • Children play the piano inside the president's house in Colombo. Reuters
    Children play the piano inside the president's house in Colombo. Reuters
  • A demonstrator poses for photographs where President Gotabaya Rajapaksa used to hold events. Reuters
    A demonstrator poses for photographs where President Gotabaya Rajapaksa used to hold events. Reuters
  • People wait to visit the presidential residence in Colombo after President Gotabaya Rajapaksa fled amid the country's economic turmoil. Reuters
    People wait to visit the presidential residence in Colombo after President Gotabaya Rajapaksa fled amid the country's economic turmoil. Reuters
  • Part of the private residence of Prime Minister Ranil Wickremesinghe was burnt by demonstrators. Reuters
    Part of the private residence of Prime Minister Ranil Wickremesinghe was burnt by demonstrators. Reuters
  • Demonstrators vandalised part of Prime Minister Ranil Wickremesinghe's house in Colombo. Reuters
    Demonstrators vandalised part of Prime Minister Ranil Wickremesinghe's house in Colombo. Reuters
  • Crowds flock to take a look inside the presidential palace in Colombo. EPA
    Crowds flock to take a look inside the presidential palace in Colombo. EPA
  • Part of Prime Minister Ranil Wickremesinghe's private residence was burnt by demonstrators. Reuters
    Part of Prime Minister Ranil Wickremesinghe's private residence was burnt by demonstrators. Reuters
  • People take a dip in a swimming pool at the presidential palace in Colombo. EPA
    People take a dip in a swimming pool at the presidential palace in Colombo. EPA
  • Protesters pretend to hold a Cabinet meeting in the meeting hall of the president's official residence. AP
    Protesters pretend to hold a Cabinet meeting in the meeting hall of the president's official residence. AP
  • Firefighters try to douse a fire at the residence of Sri Lanka's prime minister during protests in Colombo. AFP
    Firefighters try to douse a fire at the residence of Sri Lanka's prime minister during protests in Colombo. AFP
  • People watch the blaze. AFP
    People watch the blaze. AFP
  • An unidentified man poses for pictures while seated on President Gotabaya Rajapaksa’s chair at the presidential palace in Colombo, a day after it was overrun by anti-government protestors. AFP
    An unidentified man poses for pictures while seated on President Gotabaya Rajapaksa’s chair at the presidential palace in Colombo, a day after it was overrun by anti-government protestors. AFP
  • Protesters rest on sofas in the prime minister's residence. AP
    Protesters rest on sofas in the prime minister's residence. AP
  • Soldiers and police gather outside the burnt private residence of Prime Minister Ranil Wickremesinghe in Colombo. AP
    Soldiers and police gather outside the burnt private residence of Prime Minister Ranil Wickremesinghe in Colombo. AP
  • A security officer inspects a police vehicle, a day after it was vandalised by protesters in front of the residence of Sri Lanka's prime minister. AFP
    A security officer inspects a police vehicle, a day after it was vandalised by protesters in front of the residence of Sri Lanka's prime minister. AFP
  • Protesters stand on a vandalised police water cannon at the entrance to the president's official residence. AP
    Protesters stand on a vandalised police water cannon at the entrance to the president's official residence. AP
  • Protesters sing and dance after storming the Sri Lankan president's official residence. AP
    Protesters sing and dance after storming the Sri Lankan president's official residence. AP
  • Protesters crowd inside the president's official residence. EPA
    Protesters crowd inside the president's official residence. EPA
  • Protesters cheer inside the president's official residence. EPA
    Protesters cheer inside the president's official residence. EPA
  • A man picks up a tear-gas canister to throw it away as police try to disperse protesters in Colombo. AP
    A man picks up a tear-gas canister to throw it away as police try to disperse protesters in Colombo. AP
  • An injured protester during an anti-government demonstration in Colombo. EPA
    An injured protester during an anti-government demonstration in Colombo. EPA
  • The security forces fire tear gas and use water cannon to disperse an anti-government protest. EPA
    The security forces fire tear gas and use water cannon to disperse an anti-government protest. EPA
  • A protester walks in front of police during an anti-government protest, calling for the resignation of the president over his alleged failure to address Sri Lanka's economic crisis. EPA
    A protester walks in front of police during an anti-government protest, calling for the resignation of the president over his alleged failure to address Sri Lanka's economic crisis. EPA
  • Protesters gather inside the compound of Sri Lanka's Presidential Palace in Colombo. AFP
    Protesters gather inside the compound of Sri Lanka's Presidential Palace in Colombo. AFP
  • Protesters are demanding that President Gotabaya Rajapaksa resigns. AP Photo
    Protesters are demanding that President Gotabaya Rajapaksa resigns. AP Photo
  • Hundreds of people attended the rally. EPA
    Hundreds of people attended the rally. EPA
  • Security forces fire tear gas to disperse an anti government protest rally. EPA
    Security forces fire tear gas to disperse an anti government protest rally. EPA
  • Protesters throw back tear gas canisters fired by security forces. EPA
    Protesters throw back tear gas canisters fired by security forces. EPA

Whether his election will solve Sri Lanka's crushing economic downturn remains to be seen, and his candidacy was criticised by protesters who ousted his predecessor Mr Rajapaksa.

But his political expertise may mean he can enact real change. Mr Wickremesinghe has recently negotiated with the IMF, and enjoys a working relationship with vital donor countries including India.

Hundreds of thousands of demonstrators took to the streets earlier this month to vent their fury at soaring inflation, shortages of fuel and other vital goods, regular power cuts and what they see as corruption among the ruling elite.

While the focus of their ire was Rajapaksa, a member of the country's most powerful political dynasty before the crisis who fled the country for Singapore, they also demanded that Mr Wickremesinghe stand down — something he refused to do.

THE SPECS

      

 

Engine: 1.5-litre

 

Transmission: 6-speed automatic

 

Power: 110 horsepower 

 

Torque: 147Nm 

 

Price: From Dh59,700 

 

On sale: now  

 
Short-term let permits explained

Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.

Tenants also require a letter of no objection from their landlord before being allowed to list the property.

There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.

Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.

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 five pillars of Islam

Padmaavat

Director: Sanjay Leela Bhansali

Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh

3.5/5

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

While you're here
UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

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The Word for Woman is Wilderness
Abi Andrews, Serpent’s Tail

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

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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

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

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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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SPEC%20SHEET%3A%20APPLE%20IPHONE%2014%20PRO%20MAX
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While you're here
Updated: July 20, 2022, 11:30 AM
Sri LankaAsia