Ethiopia said it had reached its first-year target for filling a mega-dam on the Blue Nile River and progress had been made on a deal to ease tensions with downstream neighbours Egypt and Sudan.
Prime Minister Abiy Ahmed's office said on Tuesday the three countries had reached a “major common understanding which paves the way for a breakthrough agreement” and more talks were imminent.
The statement by Mr Ahmed’s office came as new satellite images show the water level in the reservoir behind the nearly completed $4.6 billion Grand Ethiopian Renaissance Dam is at its highest in at least four years.
Mr Ahmed's office indicated that enough water had accumulated to enable Ethiopia to test the dam's first two turbines – an important milestone on the way towards actually producing energy.
Ethiopia has said the rising water is from heavy rains, and the new statement said that “it has become evident over the past two weeks in the rainy season that the [dam’s] first-year filling is achieved and the dam under construction is already overtopping.”
Ethiopia has said it would begin filling the reservoir of the dam, Africa’s largest, this month even without a deal as the rainy season floods the Blue Nile. But the new statement says the three countries’ leaders have agreed to pursue “further technical discussions on the filling … and proceed to a comprehensive agreement.”
The statement did not give details on Tuesday’s discussions, mediated by current African Union chair and South African President Cyril Ramaphosa, or what had been agreed upon.
But the talks among the country’s leaders showed the critical importance placed on finding a way to resolve tensions over the celebrated Nile River, a lifeline for all involved.
Ethiopia says the colossal dam offers a critical opportunity to pull millions of its nearly 110 million citizens out of poverty and become a major power exporter. Downstream Egypt, which depends on the Nile to supply its farmers and booming population of 100 million with more than 90 per cent of its freshwater, asserts that the dam poses an existential threat.
Negotiators have said key questions remain about how much water Ethiopia will release downstream if a multiyear drought occurs and how the countries will resolve any future disputes. Ethiopia rejects binding arbitration at the final stage.
Egyptian President Abdel Fattah El Sisi stressed Egypt’s “sincere will to continue to achieve progress over the disputed issues,” according to a presidential spokesman. The leaders agreed to “give priority to developing a binding legal commitment regarding the basis for filling and operating the dam”, he said.
Sudanese Irrigation Minister Yasser Abbas said in Khartoum that once the agreement had been solidified, Ethiopia would retain the right to amend some figures relating to the dam’s operation during drought periods. “Generally, the atmosphere was positive” during the talks, he said.
Mr Abbas said the leaders agreed on Ethiopia’s right to build additional reservoirs and other projects as long as it notified the downstream countries, in line with international law.
“There are other sticking points, but if we agree on this basic principle, the other points will automatically be solved,” he said.
Sudanese Prime Minister Abdalla Hamdok and Ethiopia’s leader called Tuesday’s meeting “fruitful.”
“It is absolutely necessary that Egypt, Sudan and Ethiopia, with the support of the African Union, come to an agreement that preserves the interest of all parties,” Moussa Faki Mahamat, chairman of the AU Commission, said on Twitter. The Nile “should remain a source of peace”, he said.
Years of talks with a variety of mediators, including the Trump administration, have failed to produce a solution.
Kevin Wheeler, a researcher at the Environmental Change Institute, University of Oxford, told the Associated Press last week that fears of any immediate water shortage “are not justified at this stage at all and the escalating rhetoric is more due to changing power dynamics in the region".
However, “if there were a drought over the next several years, that certainly could become a risk,” he said.
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
Results
2pm: Maiden (TB) Dh60,000 (Dirt) 1,200m, Winner: Mouheeb, Tom Marquand (jockey), Nicholas Bachalard (trainer)
2.30pm: Handicap (TB) Dh68,000 (D) 1,200m, Winner: Honourable Justice, Royston Ffrench, Salem bin Ghadayer
3pm: Handicap (TB) Dh84,000 (D) 1,200m, Winner: Dahawi, Antonio Fresu, Musabah Al Muhairi
3.30pm: Conditions (TB) Dh100,000 (D) 1,200m, Winner: Dark Silver, Fernando Jara, Ahmad bin Harmash
4pm: Maiden (TB) Dh60,000 (D) 1,600m, Winner: Dark Of Night. Antonio Fresu, Al Muhairi.
4.30pm: Handicap (TB) Dh68,000 (D) 1,600m, Winner: Habah, Pat Dobbs, Doug Watson
The 10 Questions
- Is there a God?
- How did it all begin?
- What is inside a black hole?
- Can we predict the future?
- Is time travel possible?
- Will we survive on Earth?
- Is there other intelligent life in the universe?
- Should we colonise space?
- Will artificial intelligence outsmart us?
- How do we shape the future?
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
More from Neighbourhood Watch:
Killing of Qassem Suleimani
Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Neo%20Mobility%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20February%202023%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Abhishek%20Shah%20and%20Anish%20Garg%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Logistics%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Delta%20Corp%2C%20Pyse%20Sustainability%20Fund%2C%20angel%20investors%3C%2Fp%3E%0A
MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
Leaderboard
15 under: Paul Casey (ENG)
-14: Robert MacIntyre (SCO)
-13 Brandon Stone (SA)
-10 Laurie Canter (ENG) , Sergio Garcia (ESP)
-9 Kalle Samooja (FIN)
-8 Thomas Detry (BEL), Justin Harding (SA), Justin Rose (ENG)
FIXTURES
All games 6pm UAE on Sunday:
Arsenal v Watford
Burnley v Brighton
Chelsea v Wolves
Crystal Palace v Tottenham
Everton v Bournemouth
Leicester v Man United
Man City v Norwich
Newcastle v Liverpool
Southampton v Sheffield United
West Ham v Aston Villa