The Battersea Power Station was one of two new London Underground stations to open on Monday. All photos: Getty Images
Public transport enthusiasts flock to Battersea Power Station as the new London Underground stop opens.
Peter Torre enjoys the moment after becoming the first person to travel the full length of the Northern Line to the end of its latest extension, with the opening of Nine Elms and Battersea Power Station.
Passengers wait for the first train to leave Battersea Power Station.
A transport enthusiast wears a London Underground map facemask as he travels on the first train leaving Battersea Power Station.
Nine Elms underground station after it opens for business.
Nine Elms and Battersea Power Station are areas of London that have undergone extensive redevelopment in recent years. Getty Images
The historic power station at Battersea, south-west London, which closed in 1983, will reopen next summer as a home to shops, restaurants and the main UK office of Apple. Getty Images
This £1.1 billion ($1.5bn) Transport for London project has added about 3.2 kilometres of tunnel, as well as the two stations, and the extension is the first on the underground network since the Jubilee Line stretched eastwards in 1999.
Two new London Underground stations were unveiled on Monday, connecting Battersea Power Station and Nine Elms to central London via the Northern Line.
London Mayor Sadiq Khan hailed the introduction of the sites to the network only weeks after pupils returned to schools and employees to workplaces, many for the first time since the beginning of the pandemic.
This is the first major expansion of the Tube since the Jubilee Line stretched eastward in 1999.
“We’ve opened the first major Tube extension this century, the first station to the Northern Line for more than 80 years," Mr Khan told Sky News on Monday.
“And what we’ve done is take the Tube to Battersea for the first time. It’s helping to support more than 25,000 jobs, including in Battersea Power Station, and more than 20,000 homes.”
He said the additional services would play “a major role” in London’s recovery from the Covid crisis.
The first train left Battersea Power Station at 5.28am.
Richard Gowers, a musician, took to Twitter to share photos of his early morning journey.
He said: “Once in a lifetime chance to take the first EVER Northern Line train (05:28) from Battersea Power Station. Yeah I know, I play the organ. All part of the job.”
Geoff Marshall, who runs a transport-themed YouTube channel, also posted pictures on social media showing himself in a crowded carriage on the first train to depart Battersea.
He wrote: “Yes we rode the first train! 05.28 out of Battersea Power Station …. station. It’s open!”
Commuters walk from Nine Elms underground station after it opened for the first time. Getty Images
The opening of the new stations marks the culmination of a £1.1 billion ($1.5bn) project to extend the Northern Line into south-west London from its previous end point at Kennington.
Billions of pounds of investment have been pumped into the former industrial zone on the bank of the River Thames.
Battersea Power Station, a former coal-fired energy plant, was completed in 1935 and was in operation for decades before it closed in the early 1980s.
The site, noted for its Art Deco interior, has been transformed into office space and homes.
The Grade II* listed building is scheduled to open its doors to the public in 2022.
It will house more than 100 shops, restaurants and cafes, a 1,400-person capacity events venue, a chimney lift experience offering 360-degree panoramic views of London’s skyline and new office space which will be home to Apple’s new London campus, as well as 254 new residential apartments.
The Greater London Authority borrowed £1 billion for the project, which will be funded through business rates from the local area and about £270 million from developers.
Construction on the 3.2-kilometre twin railway tunnel between Kennington and Battersea began in 2015.
There will initially be a peak-time service of six trains per hour, falling to five per hour during off-peak periods, although frequency will double by mid-2022.
The opening of the two stations will bring the total number of stops on the underground network to 272.
Essentials
The flights Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes. The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast. The tours
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.
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
The Sinopharm vaccine was created using techniques that have been around for decades.
“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.
"What is left is a skeleton of the virus so it looks like a virus, but it is not live."
This is then injected into the body.
"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.
"You have to be exposed more than one time to what we call the antigen."
The vaccine should offer protection for at least months, but no one knows how long beyond that.
Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.
“Since it is inactivated, it will not last forever," she said.
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
