Ukraine's President Volodymyr Zelenskyy took his country's rallying cry to the World Economic Forum in Davos on Monday, telling assembled political and business leaders that their annual gatherings would become pointless if Russia succeeds in getting its way by force.
"This is really the moment when it is decided whether brute force will rule the world," Mr Zelenskyy told delegates in a speech, in which he demanded tougher sanctions to stop Moscow's aggression in its tracks. "If so, that force is not interested in our thoughts and there is no need for further meetings in Davos."
It came on the first day of a summit in the Swiss Alps dominated by the war in Ukraine. Kyiv Mayor Vitali Klitschko said the violence was unfolding only 2,000 kilometres away from the idyllic summit venue, playing the sound of air raid sirens from his phone and gesturing at guests as he said: "We are defending you personally".
Mr Klitschko said more than 100 civilians had died in Kyiv in a war about to enter its fourth month. Ukraine said on Monday it was fighting to keep control of the stronghold of Severodonetsk in the eastern regions that have become the war's main battleground.
The head of the UN's food programme meanwhile urged the super-rich to put their money behind tackling food insecurity, a growing concern thrown up by the war between two of the world's biggest agricultural exporters.
"There's a lot of wealthy people in the world who can step up," said David Beasley, who last year sparred with Elon Musk over the Tesla founder's offer to put some of his billions behind tackling world hunger.
Mr Zelenskyy said Russia's invasion had turned Ukraine's ports into a "sea full of mines and blocked ports" – a manoeuvre blamed by western countries for triggering the global food crisis – and blighted its skies with thousands of bombs and cruise missiles.
"This is what the world would look like if this turning point does not receive a proper response from humanity," said Mr Zelenskyy, who called for more weapons and financial aid for Ukraine of at least $5 billion per month.
Kristalina Georgieva, the managing director of the International Monetary Fund, said at Davos that she could not rule out a recession for the world's major economies although she did not expect one at this stage.
Mr Zelenskyy said Ukraine was defying expectations by holding its own against the offensive but asked: "Would we have to do that if we were heard last year and a full range of sanctions were applied against Russia?".
He said sanctions needed to go further to cut off all trade with Russia and weaken its banks and oil exports. European Union sanctions have hit the buffers since the bloc's leaders proposed an oil embargo early this month, a move viewed warily by pipeline-reliant member states.
The sanctions "should be maximum so that Russia and every other potential aggressor who wants to wage a brutal war against its neighbour would clearly know the immediate consequences for their actions," Mr Zelenskyy said. "I believe there are still no such sanctions against Russia, and there should be."
He said setting such a precedent, including the withdrawal of all foreign businesses from Russia, should last for "decades to come" as a deterrent to potential invaders.
"If the aggressor loses everything, then it definitely deprives him of any motivation to start the war," he said.
Companies who move their operations from Russia to Ukraine would protect their brands and gain access to European markets with which Mr Zelenskyy wants to become increasingly integrated, he said.
Mr Zelenskyy invited delegates to take part in the reconstruction of Ukraine after the fighting with Russian troops laid waste to cities such as Mariupol. Sponsors will be invited to take patronage of areas and support rebuilding work once the war is over, he said.
Russian delegates were banished from Davos after the war broke out, while Ukraine has sent a delegation to lobby for more support from world leaders. The event in the Swiss Alps is taking place in person for the first time since early 2020, after a hiatus because of the coronavirus pandemic.
What was previously Russia House in Davos has been transformed by critics, including Ukrainian tycoon Victor Pinchuk and Ukraine's Foreign Ministry, into what they call the “Russia War Crimes House", displaying pictures of alleged atrocities.
A Ukrainian court on Monday found a young Russian soldier guilty of war crimes and handed him a life sentence, in the first such verdict during the three-month conflict.
A sergeant from Siberia, Vadim Shishimarin had admitted in court to killing a 62-year-old civilian, Oleksandr Shelipov, in the village of Chupakhivka in north-east Ukraine. Prosecutors said he shot between three and four bullets.
Match statistics
Abu Dhabi Harlequins 36 Bahrain 32
Harlequins
Tries: Penalty 2, Stevenson, Teasdale, Semple
Cons: Stevenson 2
Pens: Stevenson
Bahrain
Tries: Wallace 2, Heath, Evans, Behan
Cons: Radley 2
Pen: Radley
Man of the match: Craig Nutt (Harlequins)
Sinopharm vaccine explained
The Sinopharm vaccine was created using techniques that have been around for decades.
“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.
"What is left is a skeleton of the virus so it looks like a virus, but it is not live."
This is then injected into the body.
"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.
"You have to be exposed more than one time to what we call the antigen."
The vaccine should offer protection for at least months, but no one knows how long beyond that.
Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.
“Since it is inactivated, it will not last forever," she said.
Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
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
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
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 374hp at 5,500-6,500rpm
Torque: 500Nm from 1,900-5,000rpm
Transmission: 8-speed auto
Fuel consumption: 8.5L/100km
Price: from Dh285,000
On sale: from January 2022
'The Woman in the House Across the Street from the Girl in the Window'
Director:Michael Lehmann
Stars:Kristen Bell
Rating: 1/5
Killing of Qassem Suleimani
What is Reform?
Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.
Roll of honour
Who has won what so far in the West Asia Premiership season?
Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain
Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons
West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins
UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles
West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles
West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles
Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens
Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins
'The Ice Road'
Director: Jonathan Hensleigh
Stars: Liam Neeson, Amber Midthunder, Laurence Fishburne
2/5
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.