Ukrainian President Volodymyr Zelenskyy on Thursday called for nations to impose “more courageous sanctions” against Russia to try to end the war.
In his evening address, Mr Zelenskyy said the current sanctions were “not yet the ones needed to stop Russia and stop the war”.
“If sanctions had really worked at 100 per cent, then it wouldn’t have been necessary to explain their importance in such a detailed and meticulous way," he said.
"That’s why I underline once again that we need more sanctions, more courageous sanctions. Courage and utility must be the criteria to assess the decisions.“
He also called for countries to supply more weapons to Ukraine.
“Ukraine needs weapons that will allow us to win on the battlefield,” he said. “It will be the strongest sanction against Russia of all possible ones.”
Western allies have increased financial penalties aimed at Moscow.
The US Congress voted on Thursday to suspend normal trade relations with Russia and ban the import of its oil, while the EU approved new sanctions, including a ban on Russian coal.
The UN General Assembly, meanwhile, voted on Thursday to suspend Russia from the world body's human rights council.
Mr Zelenskyy welcomed the General Assembly’s move.
He said Russia was “collecting bodies” of people killed in Mariupol, which he said then could be used to accuse Ukrainian troops of killing their own people.
“Russia has long had nothing to do with the concept of human rights," Mr Zelenskyy said. "It might change one day.
"But for now Russia and its military are the main threat on the planet for freedom, people’s safety and for the concept of human rights."
He said there would be a retaliatory response to Ukraine releasing images of killings in Bucha.
“We are receiving more and more information that Russian propaganda is preparing so-called ‘tit-for-tat’ response to the shock all normal people had from what they saw in Bucha," Mr Zelenskyy said.
"They are trying to show victims in Mariupol as if they were killed not by Russian forces, but by Ukrainian defenders of the city.
"For this purpose, occupiers are collecting bodies on the streets and taking them away. They might use it somewhere else in accordance to developed propaganda scenarios.”
The Ukrainian leader also welcomed the return of Turkish, Slovenian and Lithuanian diplomats to Kyiv, calling for other countries to reopen their embassies in the capital.
“I’m looking forward to the opportunity to meet everyone who is with us, everyone who is brave,” Mr Zelenskyy said.
"Come back with every diplomat who has returned to our capital and continues working.
"The presence of foreign diplomatic missions in Kyiv, normal work of embassies, is a clear signal to the aggressor that Kyiv is our capital.
"It’s not a regional city in Russia, it’s the Ukrainian capital.”
UAE currency: the story behind the money in your pockets
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
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)
Sholto Byrnes on Myanmar politics
Profile Periscope Media
Founder: Smeetha Ghosh, one co-founder (anonymous)
Launch year: 2020
Employees: four – plans to add another 10 by July 2021
Financing stage: $250,000 bootstrap funding, approaching VC firms this year
Investors: Co-founders
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
Dunki
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