A Palestinian initiative designed to help small businesses in the occupied territories was presented at the Paris Peace Forum on Tuesday. Reuters
A Palestinian initiative designed to help small businesses in the occupied territories was presented at the Paris Peace Forum on Tuesday. Reuters
A Palestinian initiative designed to help small businesses in the occupied territories was presented at the Paris Peace Forum on Tuesday. Reuters
A Palestinian initiative designed to help small businesses in the occupied territories was presented at the Paris Peace Forum on Tuesday. Reuters

Palestinian initiative for start-ups showcased at French summit


  • English
  • Arabic

As rounds of applause periodically erupted at the Paris Peace Forum on Tuesday, pitchmen for 121 selected projects set out their ideas ahead of a vote that will select the 10 most promising.

In the heart of the forum’s pavilion – an area known as the “Space for Solutions” – 34-year-old Ismail Abu Arafeh completed his 25-minute presentation on a project that aims to alleviate poverty in his native Jenin, a town perched in the hills of the Occupied Palestinian Territories.

IDEA, an incubator founded in 2015, was born from a partnership between two local organisations, Mr Abu Arafeh’s Palestinian Consultative Staff for Developing NGOs (PCS) and the Local and Economic Development Council.

“We want to prove that Palestinians are able to change their situation by themselves and resist the occupation,” he said in his pitch.

Since its launch, the incubator helped 45 start-up local businesses provide a lifeline for marginalised communities.

“In our semi-country, which has been under occupation for 70 years now, it is very difficult to build something meaningful,” Mr Abu Arafeh said. “We really are trying from bottom-up to give opportunities to people.”

The initiative has been instrumental in kick-starting the first pineapple farm in Jenin, an Arabesque wood design studio and a laboratory for carving quarry stones. These businesses in turn generate employment and contribute to giving back to IDEA and financing similar projects, which the incubator assists for an initial period of 6 months through feasibility assessments and training.

_______________

Read more:

Paris Peace Forum: UAE minister says artificial intelligence a 'black box'

Grassroots deradicalisation project allows youth to be part of the solution

_______________

Mr Abu Arafeh said participating in the Paris Peace Forum has been an opportunity to network and be inspired, but being in the winners’ roster would give IDEA the necessary boost to expand beyond the perimeter of Jenin.

“Our objective is to work across all 16 governorates in Palestine,” he said.

Following a call for applications that collected 900 entries from 116 countries, the Paris Peace Forum Selection Committee selected 121 projects to be showcased from 11 to 13 November 2018 as part of the forum’s first edition.

The forum offered them the opportunity to approach nearly 20,000 stakeholders from the worlds of politics, economics and academics attended the forum, and debate their global governance solutions.

A few stands from Mr Abu Arafeh’s initiative, Typhanie Scognamiglio, 35, distributed leaflets and gave out information on the Global Citizens Debate project, which seeks to “bring ordinary citizens into the global discussions on the pressing issues.”

“We want to reconnect citizens to the decision-making process,” Ms Scognamiglio, who works for Missions Publiques, one of the four independent organisations behind the project, said.

In 76 countries, 100 citizens representative of their population in age, gender socio-professional categories attended a day-long event on June 6, 2015, that sought to gauge their opinions on climate change.

This was the project’s first attempt to gauge the feelings of a representative portion of the population and produce data that could then be fed to governments and stakeholders.

“We are proposing a tool to improve democracy at a time in which democracy is under threat,” Ms Scognamiglio said, adding that Global Citizens Debate conducted another survey on driverless cars and is about to launch one on internet governance.

A number of high-tech projects also offered strikingly innovative solutions to the world’s most pressing problems. Nimray-Solar relies on the idea that blockchain technology can offer renewable energy to power the world while Embark is service connecting talented refugee with business leaders.

Meanwhile 3D Printed and Satellites, an initiative by the Peruvian organisation Ankawa Internacional, aims to provide 3D printed satellites to marginalised communities to monitor water, air and ground pollution, record aeral images or improve internet connectivity through the satellite technology.

“According to the distance on earth we can take different information from the ground,” Amilcar Romero, the 32-year-old founder of the initiative, told The National.

While satellites are not new, Mr Romero said that 3D printing has made the technology “cheaper and transferrable to the people who need it the most.”

“We realised that local [marginalised] actors did not have any information on what is going on in their territory,” he said.

The 3D Printed and Satellites product is now about to be launched in Syria, it will be used to collect data on the situation in the war-torn country to facilitate humanitarian intervention on the ground.

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

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

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

'Top Gun: Maverick'

Rating: 4/5

 

Directed by: Joseph Kosinski

 

Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris

 
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EDirect%20Debit%20System%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20Sept%202017%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20with%20a%20subsidiary%20in%20the%20UK%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Undisclosed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Elaine%20Jones%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3C%2Fp%3E%0A
MO
%3Cp%3E%3Cstrong%3ECreators%3A%20%3C%2Fstrong%3EMohammed%20Amer%2C%20Ramy%20Youssef%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EMohammed%20Amer%2C%20Teresa%20Ruiz%2C%20Omar%20Elba%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHakbah%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENaif%20AbuSaida%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ESaudi%20Arabia%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E22%20%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24200%2C000%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-Series%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EGlobal%20Ventures%20and%20Aditum%20Investment%20Management%0D%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.