Assad: I need time to win civil war


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BEIRUT // An embattled president Bashar Al Assad told Syrians yesterday it would take time to win the civil war that is ravaging their country.

In a rare television interview he said his forces were involved in a "regional and global" conflict.

Despite a death toll that has passed 20,000 as regime forces fight rebels on multiple fronts, Mr Al Assad insisted the situation was improving. The regime continues to describe its opponents as foreign-backed terrorists.

"We are fighting a regional and global war, so time is needed to win it," Mr Al Assad said.

"I can sum up all this explanation in one sentence: we are moving forward. The situation is practically better, but it has not been decided yet. That takes time."

Since the bombing of a high-level security meeting last month, in which four senior officials including Mr Al Assad's brother-in-law were killed, questions have been raised about the president's whereabouts.

The interview, Mr Al Assad's first since the July 18 attack - came as more heavy fighting was reported on the edges of Damascus. Opposition groups also reported violence elsewhere.

Despite the growing numbers of refugees fleeing the conflict, Mr Al Assad rejected talk of establishing a humanitarian buffer zone inside the country.

"I believe that talk about a buffer zone is not practical, even for those countries which are playing a hostile role," he said in the interview with the Addounia TV station, which is majority owned by Rami Makhlouf, a cousin of Mr Al Assad and one of Syria's wealthiest men.

He appeared to make light of the significant number of defections, some of them senior military and political officials - including the prime minister - and diplomats.

"Defections are a mechanism of self-cleansing of the nation," he said. "If there is a Syrian citizen who knows of someone who wishes to flee but is hesitant to do so he should encourage him," Mr Al Assad said with a smile.

Turkey urged the United Nations yesterday to protect civilians fleeing the violence and again raised the idea of a safe zone inside Syria for displaced civilians.

With an estimated 80,000 Syrian refugees, Turkey is struggling to cope with the influx. Up to 200,000 Syrians have so far escaped into Turkey, Lebanon, Jordan and Iraq and the UN has warned that the number is expected to increase.

"We expect the United Nations to engage on the topic of protecting refugees inside Syria and if possible sheltering them in camps there," Ahmet Davutoglu, Turkey's foreign minister said, before heading to New York for a UN Security Council meeting that is expected to discuss the safe zone proposal.

"When we talk about figures in the hundreds of thousands, this problem no longer remains a problem of an internal conflict in any one country, but becomes an international dangerous problem."

However, so far, there seems to be little international consensus on how to go about setting up a safe zone, which would probably require a no-fly zone.

Rebels said yesterday they attacked the military airport in Taftanaz, between Idlib and Aleppo, and destroyed five helicopters.

"The army fired back at us with artillery inside the airport, but it wasn't enough to protect them from the assault," local rebel commander Abu Moaz Al Shami said. "We hit several helicopters and one of the buildings."

Syria's state news agency Sana said government forces had fought off the attack.

At least 89 people were killed in violence across the country yesterday, according to the opposition Local Coordination Committees. Many of the deaths reported were from fighting in and around Damascus, and others were killed in fighting in Idlib, Homs and Aleppo, where fierce clashes between rebels and government forces continue.

Basma Kodmani, a prominent figure in the Syrian National Council who resigned on Tuesday, said the umbrella opposition group had become too focused on personal agendas and needed to be replaced by a new political authority.

The SNC was formed in Istanbul last year as an umbrella organisation to guide a democratic transition if Mr Al Assad fell, but has been accused of being dominated by Islamists.

* With additional reporting by Reuters, the Associated Press and Agence France-Presse

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Director:Michael Lehmann

Stars:Kristen Bell

Rating: 1/5

Multitasking pays off for money goals

Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.

That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.

"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.

Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."

People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.

"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."

Info

What: 11th edition of the Mubadala World Tennis Championship

When: December 27-29, 2018

Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams

Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823

Three ways to get a gratitude glow

By committing to at least one of these daily, you can bring more gratitude into your life, says Ong.

  • During your morning skincare routine, name five things you are thankful for about yourself.
  • As you finish your skincare routine, look yourself in the eye and speak an affirmation, such as: “I am grateful for every part of me, including my ability to take care of my skin.”
  • In the evening, take some deep breaths, notice how your skin feels, and listen for what your skin is grateful for.
Overview

What: The Arab Women’s Sports Tournament is a biennial multisport event exclusively for Arab women athletes.

When: From Sunday, February 2, to Wednesday, February 12.

Where: At 13 different centres across Sharjah.

Disciplines: Athletics, archery, basketball, fencing, Karate, table tennis, shooting (rifle and pistol), show jumping and volleyball.

Participating countries: Algeria, Bahrain, Comoros, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Saudi Arabia, Sudan, Syria, Tunisia, Qatar and UAE.

Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Our legal advisor

Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.

Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation. 

Education: Sagesse University, Beirut, Lebanon, in 2005.

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

UAE currency: the story behind the money in your pockets
Contracted list

Ashton Agar, Alex Carey, Pat Cummins, Aaron Finch, Peter Handscomb, Josh Hazlewood, Travis Head, Usman Khawaja, Nathan Lyon, Glenn Maxwell, Shaun Marsh, Mitchell Marsh, Tim Paine, Matt Renshaw, Jhye Richardson, Kane Richardson, Billy Stanlake, Mitchell Starc, Marcus Stoinis, Andrew Tye.

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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

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First Person
Richard Flanagan
Chatto & Windus 

Unresolved crisis

Russia and Ukraine have been locked in a bitter conflict since 2014, when Ukraine’s Kremlin-friendly president was ousted, Moscow annexed Crimea and then backed a separatist insurgency in the east.

Fighting between the Russia-backed rebels and Ukrainian forces has killed more than 14,000 people. In 2015, France and Germany helped broker a peace deal, known as the Minsk agreements, that ended large-scale hostilities but failed to bring a political settlement of the conflict.

The Kremlin has repeatedly accused Kiev of sabotaging the deal, and Ukrainian officials in recent weeks said that implementing it in full would hurt Ukraine.

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England XI for second Test

Rory Burns, Keaton Jennings, Ben Stokes, Joe Root (c), Jos Buttler, Moeen Ali, Ben Foakes (wk), Sam Curran, Adil Rashid, Jack Leach, James Anderson

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

Empire of Enchantment: The Story of Indian Magic

John Zubrzycki, Hurst Publishers