Prince William's US Earthshot trip a 'Super Bowl' moment for royal family

Prince William will travel to the US on Wednesday for his “Super Bowl” moment, which some royal commentators say threatens to be overshadowed by the Duke and Duchess of Sussex.

The future British king will be joined by his wife Catherine, Princess of Wales, to attend an awards ceremony for the environmental accolade the Earthshot Prize on Friday.

Earthshot awards - in pictures

A member of the royal household told reporters the trip would be a critical moment for Prince William.

"The prize has become the prince's Super Bowl moment of the year and he looks forward to continuing to use the platform each year to shine a light on some of the most impactful projects doing amazing things around the world to save our planet's future."

It will be the first time the couple have visited the US since the Sussexes made the country their permanent home in 2020.

Their last trip was in November 2014, when they were guests of then-president Barack Obama at the White House.

But this trip will not be a social visit, like the one Prince William’s mother, Princess Diana, made in 1989, when she toured New York City, or the earlier visit to the Reagan White House in 1985 when she caught the public imagination by dancing with film star John Travolta.

Princess Diana dances with John Travolta in Cross Hall at the White House during an official dinner in 1985 in Washington. Getty Images

The royal couple will remain in Boston to focus on environmental issues ahead of a glamorous ceremony to announce the winners of the Earthshot Prize, which Prince William established.

Hannah Jones, Earthshot chief executive, said the prince had been an ambitious leader.

“He’s wonderfully, unreasonably ambitious, as it should be,” she told The Telegraph.

“Why can’t we do it like that? And why can’t we go 10 times faster? We do not have time, we have to go bigger, we have to make more of an impact.

“It’s an absolute joy to work for someone like that because he really is passionate.”

Boston, birthplace of John F. Kennedy, was chosen to host the second annual prize ceremony because the late president’s 1962 “Moonshot” speech — setting the challenge for Americans to reach the Moon by the end of the decade — inspired the prince and his partners to set a similar goal for finding solutions to climate change and other environmental problems by 2030.

When Harry met the Kennedys

The trip will come days before Prince Harry and his wife Meghan receive the Ripple of Hope award from Robert F Kennedy’s daughter for standing up to the alleged racism she experienced when they were working members of the royal family.

Royal commentator Richard Fitzwilliams told The National: “The royal family’s trips abroad are the ultimate in soft power.

“The Earthshot Prize is especially significant as it is searching for new ideas to help save the planet.

“It is unfortunate, to put it mildly, that its serious purpose may be overshadowed by the Sussexes accepting the Ripple of Hope Award for challenging the royal family, which, since they get their contracts by being members of it, is perverse.

“Ironically, both the Earthshot Prize and the Ripple of Hope award have links with the Kennedys, who are American royalty.”

A source close to Prince William said Earthshot was the couple’s "number one focus" from which they will not be distracted.

The Duke and Duchess of Sussex are set to receive the Ripple of Hope from Robert F. Kennedy’s daughter, Kerry Kennedy, at a ceremony in New York on December 6.

Ms Kennedy previously described the Sussexes’ interview with Oprah Winfrey — in which Ms Markle spoke out about the alleged racism she experienced from the royal family — as "a heroic stand".

Among other revelations, she said there was concern within the royal family about her baby’s skin tone.

There were several “concerns and conversations about how dark his skin might be when he was born”, said the Duchess, who on Tuesday released the latest and final episode of her podcast Archetypes, which at Prince Harry’s suggestion features male guests for the first time.

Prince William and Prince Harry through the years - in pictures

Some royal observers say the Ripple of Hope has placed the Duke and Duchess of Sussex in a difficult position, as publicly receiving such an award could widen the rift between the brothers.

The relationship could also further deteriorate as a result of potential revelations in a coming Netflix documentary and Prince Harry’s eagerly anticipated memoir Spare, due to be released in January.

“You could say that the royal family, particularly as far as America is concerned, have had a bit of a bumpy ride of late,’’ said Joe Little, managing editor of Majesty Magazine.

“They’ve come in for huge amounts of criticism on the back of The Crown and also the Oprah Winfrey interview, which has not particularly reflected well on the House of Windsor, so I think it’s a good opportunity whilst they’re in the US … to redress the balance, if at all possible."

The voice of broadcaster Sir David Attenborough, a supporter of the Earthshot Prize since its inception, will open the show, with Oscar-winning actress and Earthshot judging panel member Cate Blanchett narrating a look back at last year's winners.

Actor Rami Malek, who played singer Freddie Mercury in the biopic Bohemian Rhapsody, will present an award, as will actress Catherine O'Hara, who starred in the film Home Alone, and environmental activist and actress Shailene Woodley.

Rami Malek (R), pictured at Wimbledon in July with Lucy Boynton, is to present one of this year’s Earthshot awards. PA

Earthshot offers £1 million ($1.2 million) in prize money to the winners of five separate categories: nature protection, clean air, ocean revival, waste elimination and climate change. The winners and all 15 finalists also receive help in expanding their projects to meet global demand.

They include finalists from the UK for the first time, with two British-based entries selected.

Notpla Hard Material — a start-up run by Pierre Paslier and Rodrigo Garcia Gonzalez in London — makes packaging from seaweed and plants as an alternative to single-use plastic, and has already produced more than one million biodegradable takeaway food boxes for Just Eat.

The other UK finalist. Low Carbon Materials, based in Durham, north-east England, uses unrecyclable plastic waste to make traditional concrete blocks carbon-zero.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

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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Bundesliga fixtures

Saturday, May 16 (kick-offs UAE time)

Borussia Dortmund v Schalke (4.30pm)

RB Leipzig v Freiburg (4.30pm)

Hoffenheim v Hertha Berlin (4.30pm)

Fortuna Dusseldorf v Paderborn (4.30pm)

Augsburg v Wolfsburg (4.30pm)

Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)

Sunday, May 17

Cologne v Mainz (4.30pm),

Union Berlin v Bayern Munich (7pm)

Monday, May 18

Werder Bremen v Bayer Leverkusen (9.30pm)

Arabian Gulf Cup FINAL

Al Nasr 2

(Negredo 1, Tozo 50)

Shabab Al Ahli 1

(Jaber 13)

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
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Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
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Men’s Coach of the Year
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Women’s Coach of the Year
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Pathaan

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COMPANY%20PROFILE

%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EEducatly%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2020%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EMohmmed%20El%20Sonbaty%2C%20Joan%20Manuel%20and%20Abdelrahman%20Ayman%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3EEducation%20technology%3Cbr%3E%3Cstrong%3EFunding%20size%3A%20%3C%2Fstrong%3E%242%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EEnterprise%20Ireland%2C%20Egypt%20venture%2C%20Plus%20VC%2C%20HBAN%2C%20Falak%20Startups%3C%2Fp%3E%0A

The years Ramadan fell in May

1987

1954

1921

1888

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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Profile of Udrive

Date started: March 2016

Founder: Hasib Khan

Based: Dubai

Employees: 40

Amount raised (to date): $3.25m – $750,000 seed funding in 2017 and a Seed round of $2.5m last year. Raised $1.3m from Eureeca investors in January 2021 as part of a Series A round with a $5m target.

Tales of Yusuf Tadros

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