President Joe Biden wrapped up his first full week as president on Wednesday. In a potential preview of the next two years, he signed 37 executive actions while the Senate confirmed his nominees more slowly than it has for previous presidents.
Mr Biden’s executive actions so far have largely reversed several of former president Donald Trump’s signature policies and are focused on combating the Covid-19 pandemic, the economy, immigration, racial equality and climate change.
The new president signed 17 executive actions on his first day alone. These orders included a repeal of the travel ban that affected several Muslim-majority countries, US re-entry into the World Health Organisation and Paris Climate Accord, and an end to the construction of Mr Trump's incomplete wall on the US-Mexico border.
That same day, the US Senate confirmed only one of Mr Biden's Cabinet nominees by an 84-10 vote: Intelligence Director Avril Haines. The lone Cabinet confirmation on day one marked a departure from Mr Biden's three immediate predecessors, all of whom had several Cabinet nominees confirmed the day they took office.
Since then, the Senate confirmed Secretary of State Antony Blinken, Defence Secretary Lloyd Austin and Treasury Secretary Janet Yellen.
The Senate is evenly split between Republicans and Democrats, meaning Vice President Kamala Harris will cast any tiebreaking votes, thereby handing nominal control to Mr Biden’s party.
But Republicans continue to control Senate committees during a drawn-out battle between Democrat Majority Leader Chuck Schumer and Republican Minority Leader Mitch McConnell over a rules package governing the evenly split chamber. House Speaker Nancy Pelosi also transferred the article of impeachment against Mr Trump on Monday, adding another ball for Mr Schumer to juggle, because it is the Senate's duty to carry out the former president’s trial.
Amid the congressional drama, Mr Biden signed additional executive actions to get the ball rolling on several of his other policy priorities. These include a freeze on oil and gas drilling on federal lands and waters, an end to US government reliance on private prisons and a series of actions intended to strengthen the federal response to the Covid-19 pandemic.
As part of the Biden administration's Covid-19 strategy, American citizens and non-citizens alike must now present proof that they have tested negative for Covid-19 or have previously recovered from the virus within three days of travelling to the United States.
The new administration’s drastically different policy priorities from its predecessor are already trickling down from the White House to federal agencies.
At the White House’s direction, the Pentagon repealed its Trump-era ban barring transgender people from serving in the US military. And Richard Mills, the acting US ambassador to the United Nations, announced that the Biden administration would restore economic and humanitarian aid to the Palestinians – something the Trump administration had eliminated.
The Treasury Department issued a sanctions licence allowing some humanitarian trade to take place in Houthi-controlled Yemen after the Trump administration designated the rebel group a terrorist organisation the day before Mr Biden’s inauguration. And the State Department issued a temporary freeze on Wednesday of arms sales initiated by the Trump administration to the United Arab Emirates and Saudi Arabia.
Mr Biden proposed a five-year extension on the New Start arms control treaty with Russia, which is set to expire next month. Moscow welcomed Mr Biden’s proposal after rejecting the Trump administration’s offer to extend the treaty last year, citing unacceptable US conditions.
In the meantime, Mr Biden has mostly prioritised close US allies and neighbours in his first calls with foreign leaders. His very first call went to Canadian Prime Minister Justin Trudeau, shortly after the prime minister criticised Mr Biden’s executive order that halted construction of the Keystone XL pipeline.
Mr Biden also spoke to Mexican President Andres Manuel Lopez Obrador, who said that the president had vowed to send $4 billion in aid to Honduras, El Salvador and Guatemala in an effort to stem the wave of migration through Mexico into the United States.
He also held calls with UK Prime Minister Boris Johnson, Russian President Vladimir Putin, Japanese Prime Minister Yoshihide Suga, German Chancellor Angela Merkel and Nato Secretary General Jens Stoltenberg.
White House press secretary Jen Psaki noted that Mr Biden will use some of his first calls with foreign leaders to address potential US re-entry into the Iran nuclear deal – on the condition that Tehran first returns to compliance with the accord.
The biog
Favourite Emirati dish: Fish machboos
Favourite spice: Cumin
Family: mother, three sisters, three brothers and a two-year-old daughter
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
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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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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
COMPANY%20PROFILE
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
What is the Supreme Petroleum Council?
The Abu Dhabi Supreme Petroleum Council was established in 1988 and is the highest governing body in Abu Dhabi’s oil and gas industry. The council formulates, oversees and executes the emirate’s petroleum-related policies. It also approves the allocation of capital spending across state-owned Adnoc’s upstream, downstream and midstream operations and functions as the company’s board of directors. The SPC’s mandate is also required for auctioning oil and gas concessions in Abu Dhabi and for awarding blocks to international oil companies. The council is chaired by Sheikh Khalifa, the President and Ruler of Abu Dhabi while Sheikh Mohamed bin Zayed, Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces, is the vice chairman.
Notable Yas events in 2017/18
October 13-14 KartZone (complimentary trials)
December 14-16 The Gulf 12 Hours Endurance race
March 5 Yas Marina Circuit Karting Enduro event
March 8-9 UAE Rotax Max Challenge
Profile of Hala Insurance
Date Started: September 2018
Founders: Walid and Karim Dib
Based: Abu Dhabi
Employees: Nine
Amount raised: $1.2 million
Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers
Profile Box
Company/date started: 2015
Founder/CEO: Mohammed Toraif
Based: Manama, Bahrain
Sector: Sales, Technology, Conservation
Size: (employees/revenue) 4/ 5,000 downloads
Stage: 1 ($100,000)
Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)