Russian President Vladimir Putin and Ukrainian leader Volodymyr Zelenskyy are expected to attend this year’s G20 summit in Indonesia.
Should they travel to Bali next month, it will be the first time they will have shared a platform since the war between their two countries began in February.
Indonesia’s ambassador to the UAE Husin Bagis expressed his hope that they would attend in an exclusive interview with The National, adding: “The situation isn’t easy because of the Ukraine-Russia war.”
The White House has said that if Mr Putin attends, Mr Zelenskyy should also participate.
On Thursday, US President Joe Biden did not rule out meeting Mr Putin during the summit.
Mr Bagis said logistical preparations for hosting the two presidents were already under way.
“We are deciding which hotels to put them up in ― one for Mr Putin and one for Mr Zelenskyy,” he said, referring to the need to avoid tension by putting them too close together.
“Indonesia is different than other countries,” he said. “Everything is peaceful in my country.”
Neither the Ukrainian nor the Russian foreign ministry responded to The National's requests to confirm plans for the leaders to attend the meeting in Bali on November 15 and 16.
The multilateral forum on the island in November is expected to bring together the leaders of 20 of the world's largest economies as well as guest nations such as the UAE and Ukraine.
“Ukraine is not part of the G20, but still we are inviting them, as we are inviting the UAE because of our special relationship with the UAE,” Mr Bagis said.
Peace will rank high on the agenda, along with health, digital transformation and sustainable energy transition.
“We want to make the G20 a platform for peace, not conflict,” Mr Bagis said at his office in Abu Dhabi.
The presence of Mr Putin and Mr Zelenskyy, who has used global forums to appeal for support to end the conflict, would be the result of Indonesian President Joko Widodo’s attempts at shuttle diplomacy in Ukraine and Russia in June this year, while on his way to visit the UAE, Mr Bagis said.
Mr Widodo, the chair of the G20 nations, is keen to urge both sides to agree to a ceasefire and reopen channels for grain exports to ensure food security.
The Iran nuclear deal and the civil war in Syria are unlikely to be part of the conversation at the summit, Mr Bagis said.
Formed in 1999, the G20 members account for 85 per cent of global gross domestic product, 75 per cent of international trade and two-thirds of the world's population, making the forum a key platform for international economic co-operation.
The group addresses issues related to the global economy and financial stability as well as climate change and sustainable development.
India will host its first G20 summit in New Delhi in September next year.
This article has been updated following clarification of Ambassador Bagis's original statement to ‘The National’, as written confirmation of the two leaders' attendance had not yet been received by Indonesian authorities.
Bali: see the island paradise hosting world leaders for the G20
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
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Company profile
Name: Thndr
Started: October 2020
Founders: Ahmad Hammouda and Seif Amr
Based: Cairo, Egypt
Sector: FinTech
Initial investment: pre-seed of $800,000
Funding stage: series A; $20 million
Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital
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What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Spider-Man: No Way Home
Director: Jon Watts
Stars: Tom Holland, Zendaya, Jacob Batalon
Rating:*****
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
How to help
Call the hotline on 0502955999 or send "thenational" to the following numbers:
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2252 - Dh50
6025 - Dh20
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MATCH INFO
Liverpool v Manchester City, Sunday, 8.30pm UAE
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Monster Hunter: World
Capcom
PlayStation 4, Xbox One
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
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
Score
Third Test, Day 2
New Zealand 274
Pakistan 139-3 (61 ov)
Pakistan trail by 135 runs with 7 wickets remaining in the innings
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Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Result
Qualifier: Islamabad United beat Karachi Kings by eight wickets
Fixtures
Tuesday, Lahore: Eliminator 1 - Peshawar Zalmi v Quetta Gladiators
Wednesday, Lahore: Eliminator 2 – Karachi Kings v Winner of Eliminator 1
Sunday, Karachi: Final – Islamabad United v Winner of Eliminator 2
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
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