US soldiers check tanks at Camp Carroll, about 290km from Seoul, South Korea.
US soldiers check tanks at Camp Carroll, about 290km from Seoul, South Korea.
US soldiers check tanks at Camp Carroll, about 290km from Seoul, South Korea.
US soldiers check tanks at Camp Carroll, about 290km from Seoul, South Korea.

Airlines steering clear of North Korea


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International and domestic airlines diverted flights away from North Korea yesterday following threats from the communist country over the safety of civilian planes flying in its airspace. In the latest escalation of tension on the peninsula, Pyongyang said the security of aircraft approaching South Korea from the east, over the Sea of Japan and near the location of its missile base, could not be guaranteed, particularly during a joint US-South Korean military exercise due to start on Monday.

No one knows what "military conflict will be touched off by the reckless war exercises", a statement from North Korea's official news agency said on Thursday. Seoul yesterday called on its northern neighbour to withdraw the threat immediately. "Threatening civilian airliners' normal operations under international aviation regulations is not only against the international rules but is an act against humanity," said Kim Ho-nyeon, a spokesman for South Korea's unification ministry.

The South Korean carriers, Korean Air and Asiana, are diverting 200 flights over the next two weeks at a total cost of about 800 million won (Dh20.6m). Singapore Airlines also said it is using alternative routes. Thirty-three flights approach South Korea from the east every day, about half of which are operated by national carriers. The US-South Korean military drill, involving tens of thousands of soldiers, is an annual 12-day event to which North Korea always objects but this year it comes as friction is already high.

North Korea said again yesterday that it was preparing to fire a rocket from its missile base, in what it describes as a satellite launch for a peaceful space programme. Seoul and Washington say the real intention is to test the base's missile-launching capability as the satellite and missile launches use the same technology and the same rocket. UN command told officers from the Korean People's Army that the threat against South Korean planes was "inappropriate" and should be retracted immediately.

They were speaking in a meeting yesterday in the demilitarised buffer zone between the two countries where the head of the North Korean delegation argued that the planned rocket launch was entirely for "self defence". The meeting, which lasted less than an hour, was the second between North Korean generals and the US-led UN command in a week, after six years of frozen relations. During their previous discussion North Korea raised concerns about the imminent military exercises.

Yesterday's developments coincide with the first visit to the region by Stephen Bosworth, Barack Obama's newly appointed special envoy for North Korea. After talks in Japan yesterday he warned North Korea against launching a rocket. "If they don't refrain, if that does happen, then obviously we'll have to take stock and decide how to respond and what we'll do," he said, adding that the threats against civilian planes were a "provocation".

Mr Bosworth, who has no plans to visit North Korea on this trip, said he wanted to restart six-party talks between the US, Japan, North and South Korea, China and Russia in order to end North Korea's arms programme. The US envoy is scheduled to fly to Seoul today. lmorris@thenational.ae * with agencies

The specs: 2018 Maxus T60

Price, base / as tested: Dh48,000

Engine: 2.4-litre four-cylinder

Power: 136hp @ 1,600rpm

Torque: 360Nm @ 1,600 rpm

Transmission: Five-speed manual

Fuel consumption, combined: 9.1L / 100km

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

ICC Women's T20 World Cup Asia Qualifier 2025, Thailand

UAE fixtures
May 9, v Malaysia
May 10, v Qatar
May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final

Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199

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 RESULTS

5pm: Maiden (PA) Dh80,000 1,400m

Winner: Alnawar, Connor Beasley (jockey), Helal Al Alawi (trainer)

5.30pm: Maiden (PA) Dh80,000 1,400m

Winner: Raniah, Noel Garbutt, Ernst Oertel

6pm: Handicap (PA) Dh90,000 2,200m

Winner: Saarookh, Richard Mullen, Ana Mendez

6.30pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Rated Conditions Dh125,000 1,600m

Winner: RB Torch, Tadhg O’Shea, Eric Lemartinel

7pm: Al Wathba Stallions Cup Handicap Dh70,000 1,600m

Winner: MH Wari, Antonio Fresu, Elise Jeane

7.30pm: Handicap Dh90,000 1,600m

Winner: Mailshot, Royston Ffrench, Salem bin Ghadayer

 

Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
MATCH INFO

Qalandars 112-4 (10 ovs)

Banton 53 no

Northern Warriors 46 all out (9 ovs)

Kumara 3-10, Garton 3-10, Jordan 2-2, Prasanna 2-7

Qalandars win by six wickets

UAE tour of the Netherlands

UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match

The years Ramadan fell in May

1987

1954

1921

1888

The Facility’s Versatility

Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
 
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
 
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
 
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
 
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
 
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket