British Prime Minister Boris Johnson on Wednesday defended his government's plan to halve humanitarian aid for war-torn Yemen.
An international aid conference on Yemen this week pledged less than half of the funds needed to prevent what the UN warns is a looming famine.
"Cutting aid is a death sentence," UN Secretary General Antonio Guterres said, in remarks echoed in the UK Parliament by opposition leaders grilling Mr Johnson at the weekly prime minister's questions.
Britain pledged £87 million ($122m), about half the amount it offered at last year's Yemen conference, and only 40 per cent of the total funding it provided to the country during 2020.
Sir Keir Starmer, leader of the main opposition Labour party, said Mr Johnson could not justify cutting the aid, and questioned continued sales of weapons to Saudi Arabia.
He spoke of last month's decision by the new administration of President Joe Biden to pause US arms sales to Saudi Arabia pending a revew.
The kingdom, at the request of the internationally recognised government of Yemen, is leading a coalition against Iran-backed Houthi rebels who overthrew it in 2015.
"It is true that current straightened circumstances, which I'm sure the people of this country understand, mean that temporarily we must reduce aid spending," Mr Johnson said, noting the Covid-19 pandemic's impact on UK finances.
"But that does not obscure the fact that when it comes to our duty to the people of Yemen, we continue to step up to the plate."
He said Britain had given about £1 billion in the past five years.
"It's a record of which this country can be proud," Mr Johnson said.
"Given the difficulties that this country faces, I think the people of this country will think we've got our priorities right."
He said the government continued "scrupulously to follow the humanitarian guidance, which are among the toughest measures anywhere in the world in respect of all arms sales".
The UK government is planning to scrap a legally enshrined target for its aid budget this year, leading to accusations even from its own ranks that it is abandoning some of the world's poorest and most vulnerable people.
Former international development secretary Andrew Mitchell said cutting the UK's overall aid commitment was a "strategic mistake with deadly consequences".
Emergency
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Paatal Lok season two
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Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
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More coverage from the Future Forum
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
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
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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Price, base / as tested Dh57,000
Engine 1,170cc air/oil-cooled flat twin four-stroke engine
Transmission Six-speed gearbox
Power 110hp) @ 7,750rpm
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MATCH INFO
France 3
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Italy 1
Bonucci (36')
Starring: Jamie Foxx, Angela Bassett, Tina Fey
Directed by: Pete Doctor
Rating: 4 stars
About Okadoc
Date started: Okadoc, 2018
Founder/CEO: Fodhil Benturquia
Based: Dubai, UAE
Sector: Healthcare
Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth
Funding stage: Series B fundraising round to conclude in February
Investors: Undisclosed
RESULT
Bayern Munich 3 Chelsea 2
Bayern: Rafinha (6'), Muller (12', 27')
Chelsea: Alonso (45' 3), Batshuayi (85')
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
The specs: 2019 Audi A7 Sportback
Price, base: Dh315,000
Engine: 3.0-litre V6
Transmission: Seven-speed automatic
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