Members of the Syrian Army gather inside their quarters in the Syrian town of Binnish, in the north-western province of Idlib.
Members of the Syrian Army gather inside their quarters in the Syrian town of Binnish, in the north-western province of Idlib.
Members of the Syrian Army gather inside their quarters in the Syrian town of Binnish, in the north-western province of Idlib.
Members of the Syrian Army gather inside their quarters in the Syrian town of Binnish, in the north-western province of Idlib.

Syrian forces defy UN ceasefire call


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Dozens more people died as Syrian government troops and rebels clashed again yesterday in defiance of UN efforts to halt the bloodshed and allow humanitarian aid to reach civilians.

Opposition activists and the regime in Damascus both dismissed a Security Council statement calling for a ceasefire to allow dialogue on a political solution.

The rebels said there could be no talks while Bashar Al Assad's forces continued to attack them. The president's government said it would not respond to threats or ultimatums.

Meanwhile Syrian army forces attacked a number of towns and rebel fighters struck army posts in several provinces yesterday. In the deadliest attack, five soldiers were killed at a military checkpoint in the Latakia region, said the Britain-based Syrian Observatory for Human Rights.

The Observatory said a 17-year-old boy was killed and dozens wounded in an army assault on the town of Sermin in the north-western province of Idlib.

In the south, rebel fighters killed a soldier and wounded four others near the village of Saida in Deraa province, where Syria's year-old revolt against the regime erupted, it said.

Deserters killed two soldiers in the town.

The year-long uprising is becoming an armed insurgency that many fear is pushing Syria towards civil war. Because of Damascus's close alliances with Iran and the Lebanese militant group Hizbollah, there are concerns that the violence could spread beyond Syria's borders, especially if other nations arm the rebels or send in their own troops.

The UN secretary general Ban Ki-moon said there must be a ceasefire so humanitarian aid can be dispatched. "Civil strife of the sort we are seeing in Syria can destroy whole societies," he said.

Mr Ban said yesterday that "nobody is discussing military operations" to resolve the crisis. But he said the Red Cross had proposed a few hours' halt in violence every day so humanitarian aid can be delivered.

The previously divided Security Council sent a united message to the Syrian government and opposition on Wednesday to immediately implement proposals by the special envoy Kofi Annan to end the bloodshed.

A non-binding statement approved by the 15 council members detailed Mr Annan's six proposals, which include a ceasefire first by the Syrian government, a daily two-hour halt to fighting to evacuate the injured and provide humanitarian aid, and inclusive Syrian-led political talks "to address the legitimate concerns of the Syrian people".

The Syrian National Council, the main opposition group, said the statement offered the regime "the opportunity to push ahead with its repression to crush the revolt by the Syrian people".

Samir Nashar, an executive committee member of the SNC, said: "It's time for the UN Security Council to use its powers to stop these massacres." Turkey's foreign minister Ahmet Davutoglu said the international community had to go further and develop "a joint plan of action". "We continue to think that Syria is playing for time. In order for this human tragedy to end we must act together," he said. "Just making calls is not enough."

Various factions of the Syrian opposition will meet next week in Istanbul to coordinate their requests for support before the second meeting of the Friends of Syria group on April 1. "The goal is to prepare for the conference," Halit Hoca, a member of the Syrian National Council, said yesterday.

* Associated Press and Agence France-Presse

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The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
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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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Evacuations to France hit by controversy
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Have you been targeted?

Tuan Phan of SimplyFI.org lists five signs you have been mis-sold to:

1. Your pension fund has been placed inside an offshore insurance wrapper with a hefty upfront commission.

2. The money has been transferred into a structured note. These products have high upfront, recurring commission and should never be in a pension account.

3. You have also been sold investment funds with an upfront initial charge of around 5 per cent. ETFs, for example, have no upfront charges.

4. The adviser charges a 1 per cent charge for managing your assets. They are being paid for doing nothing. They have already claimed massive amounts in hidden upfront commission.

5. Total annual management cost for your pension account is 2 per cent or more, including platform, underlying fund and advice charges.

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%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Alaan%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Parthi%20Duraisamy%20and%20Karun%20Kurien%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%247%20million%20raised%20in%20total%20%E2%80%94%20%242.5%20million%20in%20a%20seed%20round%20and%20%244.5%20million%20in%20a%20pre-series%20A%20round%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A

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Director: Scott Cooper

Starring: Jeremy Allen White, Odessa Young, Jeremy Strong

Rating: 4/5

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

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What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

COMPANY PROFILE

Company name: Blah

Started: 2018

Founder: Aliyah Al Abbar and Hend Al Marri

Based: Dubai

Industry: Technology and talent management

Initial investment: Dh20,000

Investors: Self-funded

Total customers: 40

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How will Gen Alpha invest?

Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.

“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.

Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.

He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.

Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”

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