A volunteer digs through the rubble of buildings which collapsed due to the explosion at the port area, after signs of life were detected, in Gemmayze, Beirut, Lebanon September 5, 2020. Reuters
A volunteer digs through the rubble of buildings which collapsed due to the explosion at the port area, after signs of life were detected, in Gemmayze, Beirut, Lebanon September 5, 2020. Reuters
A volunteer digs through the rubble of buildings which collapsed due to the explosion at the port area, after signs of life were detected, in Gemmayze, Beirut, Lebanon September 5, 2020. Reuters
A volunteer digs through the rubble of buildings which collapsed due to the explosion at the port area, after signs of life were detected, in Gemmayze, Beirut, Lebanon September 5, 2020. Reuters

Lebanon army surveys 85,000 blast-damaged homes and buildings in Beirut


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Lebanon's army said on Saturday it has carried out a survey of more than 85,000 homes, businesses and other buildings damaged by the huge Beirut port blast last month.

The explosion on August 4 of hundreds of tonnes of ammonium nitrate stored at Beirut port killed more than 190 people, injured thousands and ravaged large parts of the capital.

"A total of 85,744 affected units have been surveyed," the army said.

It surveyed 60,818 housing units, 19,115 businesses, 1,137 heritage units, 962 restaurants, 82 teaching institutions and 12 hospitals.

It recorded almost 550,000 square metres (half a square kilometre) of glass destroyed, as well as 140,000 square metres of glass facades broken.

More than 108,000 doors had been damaged, the survey showed.

The army said it was still looking for nine people - three Lebanese, five Syrians and an Egyptian - still missing after the blast.

The survey "is considered to be sufficient, and there is therefore no need for further surveys by donor countries", it said in a statement.

The army said the donors, non-governmental organisations or volunteers could request access to the results.

On August 9, international donors pledged more than 250 million euros in emergency aid, in a video conference jointly organised by France and the United Nations.

French President Emmanuel Macron vowed in early September during a second visit to Lebanon since the blast to host a second conference in Paris in the second half of October.

On Saturday, a party founded by Lebanon's Christian president made a proposal to end a dispute that has blocked the formation of a new cabinet and threatened the French drive to lift the country out of its worst crisis since the 1975-1990 civil war.

The proposal, put forward on Saturday, involved handing major ministries to smaller sectarian groups in a country where power is shared between Muslims and Christians. There was no immediate comment from officials in Shiite Muslim groups, who have insisted they choose who fills several posts.

Lebanon's efforts to swiftly form a new government have run into the sand over how to pick ministers in a country where political loyalties mostly follow sectarian religious lines.

A September 15 deadline agreed with France to name a cabinet has passed. Paris, which is leading an international push to haul Lebanon back from economic collapse, has voiced exasperation and told Beirut to act "without delay".

The leader of the Free Patriotic Movement, the party founded by President Michel Aoun and allied to Hezbollah, proposed "undertaking an experiment to distribute the so-called sovereign ministries to smaller sects, specifically to the Druze, Alawites, Armenians and Christian minorities".

The statement was issued after Gebran Bassil, the party leader and son-in-law of the president, chaired a meeting of the party's political leadership. Bassil is a Maronite, Lebanon's largest Christian community.

Prime Minister-designate Mustapha Adib, a Sunni Muslim under Lebanon's sectarian system, wants to shake up the leadership of ministries, some of which have been controlled by the same factions for years.

A group of former Sunni prime ministers backing Mr Adib urged the prime minister-designate to press on with forming a government "as soon as possible."

Company profile: buybackbazaar.com

Name: buybackbazaar.com

Started: January 2018

Founder(s): Pishu Ganglani and Ricky Husaini

Based: Dubai

Sector: FinTech, micro finance

Initial investment: $1 million

Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

Profile of Bitex UAE

Date of launch: November 2018

Founder: Monark Modi

Based: Business Bay, Dubai

Sector: Financial services

Size: Eight employees

Investors: Self-funded to date with $1m of personal savings

Brave CF 27 fight card

Welterweight:
Abdoul Abdouraguimov (champion, FRA) v Jarrah Al Selawe (JOR)

Lightweight:
Anas Siraj Mounir (TUN) v Alex Martinez (CAN)

Welterweight:
Mzwandile Hlongwa (RSA) v Khamzat Chimaev (SWE)

Middleweight:
Tarek Suleiman (SYR) v Rustam Chsiev (RUS)
Mohammad Fakhreddine (LEB) v Christofer Silva (BRA)

Super lightweight:
Alex Nacfur (BRA) v Dwight Brooks (USA)

Bantamweight:
Jalal Al Daaja (JOR) v Tariq Ismail (CAN)
Chris Corton (PHI) v Zia Mashwani (PAK)

Featherweight:
Sulaiman (KUW) v Abdullatip (RUS)

Super lightweight:
Flavio Serafin (BRA) v Mohammad Al Katib (JOR)

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

Quick facts on cancer
  • Cancer is the second-leading cause of death worldwide, after cardiovascular diseases 
  •  About one in five men and one in six women will develop cancer in their lifetime 
  • By 2040, global cancer cases are on track to reach 30 million 
  • 70 per cent of cancer deaths occur in low and middle-income countries 
  • This rate is expected to increase to 75 per cent by 2030 
  • At least one third of common cancers are preventable 
  • Genetic mutations play a role in 5 per cent to 10 per cent of cancers 
  • Up to 3.7 million lives could be saved annually by implementing the right health
    strategies 
  • The total annual economic cost of cancer is $1.16 trillion

   

First Person
Richard Flanagan
Chatto & Windus 

The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press

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David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

The years Ramadan fell in May

1987

1954

1921

1888

Honeymoonish
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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

What is Folia?

Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.

Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."

Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.

In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love". 

There are also plans to take Folia to several more locations throughout the Middle East and Europe.

While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."

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How to get exposure to gold

Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.

A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.

Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.

Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.

London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long

However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.

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