The Abraham Accord will strengthen the UAE’s role in promoting peace between Israel and Palestine based on the two-state solution, Minister of State for Foreign Affairs Dr Anwar Gargash said on Thursday.
“It will contribute to our joint efforts to establish an independent Palestinian state,” Dr Gargash said in an online session with the Asia Society.
Last month, the UAE became the first Arab country to normalise ties with Israel in more than 25 years.
The move was followed by the historic signing of the Abraham Accord, the first peace treaty between Israel and an Arab nation since Egypt in 1979 and Jordan in 1994.
The UAE’s Minister of Foreign Affairs and International Co-operation, Sheikh Abdullah bin Zayed, this month signed agreements with Israeli Prime Minister Benjamin Netanyahu and US President Donald Trump at the White House.
Bahrain's Foreign Minister, Dr Abdullatif Al Zayani, was also at the ceremony, signing his country's accord with Israel.
The signing paved the way for full normalisation of relations between Israel and the two Arab countries.
“We understood that it is essential for us to divide the political disagreement from other areas of co-operation," Dr Gargash said.
"It will have better relations and prospects for stability in the region."
He confirmed that the country hoped to appoint an ambassador to Israel by the end of the year.
Dr Gargash said there had been some talk about Mr Netanyahu pulling away from his promise to suspend Palestinian annexation.
“The presence of the US being a glue that brought us all together is, in my opinion, a guarantee,” he said.
“We have allowed the chance for a two-state solution to work and will allow the Palestinians to engage."
Dr Gargash said the Palestinians felt the plan was skewed against them and would undermine their aspiration to become an independent state.
“For us, engagement is essential," he said. "We’ve been talking about this, we have developed and realised that [having] no communication channel with Israel has not yielded any results."
Dr Gargash said the UAE has urged the Palestinians to communicate and come to the negotiating table.
“This remains our view,” he said.
He said it would be the Israelis and Palestinians who determined their final plan, not the UAE.
Dr Gargash confirmed that the country had not lost a single friend, or gained any foes in the Arab world since signing the deal.
“There has been a positive response. There is an opportunity here,” he said.
The peace treaty has raised the prospect of the US selling advanced F-35 jets to the UAE.
Dr Gargash said his country deserved the F-35 fighter jets because it had been "a very honourable and strong partner in Nato's operations in Libya and shared the burden in the fight against ISIS".
Washington has sold the F-35 to allies but sales in the region require a deeper review because US policy requires Israel to maintain a military advantage in the Middle East.
“We are hopeful that it will be a strategic breakthrough and will be a beneficial relationship for both sides,” Dr Gargash said.
Officials in the UAE say the accord with Israel did not represent a departure from support for the Palestinian cause or a two-state solution with East Jerusalem as the capital of a future Palestinian state.
When asked if Iran was surprised by the treaty, Dr Gargash said: “Tehran was counting on many Arab states having non-formal relations with Israel – they didn't see this coming.”
The deal with Israel was in "no way targeted against Iran. I think they were surprised".
Dr Gargash said engagement was necessary with Iran and the US to work on the matter.
Palestinians must understand that their real supporters are moderate Arab states such as Egypt, Jordan and Gulf countries where most Palestinians live and prosper, he said.
“Further radicalising the Palestinian position will not help anyone," Dr Gargash said.
"A more thoughtful re-examination is what is needed right now, which entails returning to the negotiating table.”
UAE currency: the story behind the money in your pockets
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
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The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
McLaren GT specs
Engine: 4-litre twin-turbo V8
Transmission: seven-speed
Power: 620bhp
Torque: 630Nm
Price: Dh875,000
On sale: now
First-round leaderbaord
-5 C Conners (Can)
-3 B Koepka (US), K Bradley (US), V Hovland (Nor), A Wise (US), S Horsfield (Eng), C Davis (Aus);
-2 C Morikawa (US), M Laird (Sco), C Tringale (US)
Selected others: -1 P Casey (Eng), R Fowler (US), T Hatton (Eng)
Level B DeChambeau (US), J Rose (Eng)
1 L Westwood (Eng), J Spieth (US)
3 R McIlroy (NI)
4 D Johnson (US)
The specs: Lamborghini Aventador SVJ
Price, base: Dh1,731,672
Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
Power: 770hp @ 8,500rpm
Torque: 720Nm @ 6,750rpm
Fuel economy: 19.6L / 100km
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
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
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
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