Russian President Vladimir Putin presided over an annual military parade commemorating the Soviet Union's victory in the Second World War, as his country's modern-day army struggles to gain the upper hand in Ukraine.
Mr Putin was flanked by military veterans in Moscow's Red Square on Tuesday, hours after Russian forces fired their latest barrage of missiles at Ukrainian territory.
In a short speech, he delivered his typical rhetoric on the war by accusing western powers of using Ukraine to threaten Russia.
“A real war has been unleashed against our motherland,” he said.
About 27 million Soviet citizens died in the brutal war with Nazi Germany, a struggle for survival that Mr Putin has likened to the conflict in Ukraine — a comparison dismissed as absurd by western powers.
“Today, civilisation is again at a decisive turning point,” Mr Putin said.
In Kyiv, Ukrainian President Volodymyr Zelenskyy said on Tuesday that Russian forces had failed to capture the eastern city of Bakhmut before Tuesday's symbolic date.
He said Russia's political and military leadership had tried and failed to show off results to its people before the Moscow Victory Day parade involving a highly-choreographed display of Russian military might.
"This was the last important military operation that they wanted to complete by the 9th of May," said Mr Zelenskyy.
Mr Putin did not announce any change in Russian strategy as it prepares for an expected Ukrainian counter-offensive this spring.
Just one tank passed across Red Square, a T-34 veteran of the Second World war, after an estimated 1,900 of them were lost during the campaign in Ukraine. A fly-past by fighter jets was also cancelled.
However, the military did display a number of Yars intercontinental nuclear ballistic missiles as well as its advanced S-400 surface to air missiles in a reminder of what remains in Russia's arsenal.
This year’s commemoration comes in the shadow of mysterious explosions and drone attacks on Russian territory that have led to some regional parades being cancelled.
Russia recently accused Ukraine of aiming a drone at the Kremlin in a plot to kill Mr Putin, a claim denied by Kyiv.
In remarks released at the same time as Putin's speech, the head of the Wagner mercenary group accused some Russian forces of abandoning their positions near Bakhmut, Ukraine.
"They all fled, exposing the front," said Yevgeny Prigozhin, who repeated a threat that his men would leave Bakhmut if the regular military does not supply more ammunition.
Mr Zelenskyy said in Kyiv that "unfortunately, the city does not exist anymore, everything is fully destroyed".
Struggling for allies on the world stage, Mr Putin welcomed the leaders of former Soviet countries Armenia, Belarus, Tajikistan, Turkmenistan and Kyrgyzstan to the Kremlin for Tuesday's parade.
Mr Zelenskyy has symbolically changed the country’s day of commemoration from May 9, the Russian date, to May 8 — the day observed by western allies.
European Commission president Ursula von der Leyen travelled to Kyiv on Tuesday to show the EU's support for Ukraine on Europe Day - the celebration of the 1950 proposal of the bloc's ancestor, the European Coal and Steel Community.
"Ukraine is on the frontline of the defence of everything we Europeans cherish, our liberty, our democracy, our freedom of thought and speech," she said.
EU lawmakers on Tuesday voted to speed up consideration of a law to boost ammunition production in Europe to the tune of 500 million euros ($550 million).
But Mr Zelenskyy also raised a sore point between the bloc and Ukraine by railing against trade restrictions on Ukrainian products recently imposed by five Eastern European countries with the blessing of Brussels.
"Any restrictions of our exports are absolutely unacceptable," he said.
Poland, Hungary, Slovakia and Bulgaria imposed unilateral bans on Ukrainian agricultural products after farmers complained that cheaper Ukrainian produce was hurting their business.
The commission then agreed last week to enforce restrictions on the imports of Ukrainian of wheat, maize, rapeseed and sunflower seed until June 5.
Protectionist measures "cannot but disappoint" and must be removed "as soon as possible, said Mr Zelenskyy.
Ms von der Leyen said that it was a "challenging situation."
"The immediate priority now is that the grain transit goes seamlessly and at the lowest possible cost outside from Ukraine towards the European Union," she said.
Ukrainian officials said they had shot down 23 out of 25 missiles in an overnight attack by Russia, with no casualties reported.
The Ukrainian air force said eight Kalibr cruise missiles were launched from carriers in the Black Sea toward the east while 17 were fired from Russian aircraft.
It was the second night in a row of Russian air strikes and the fifth this month after a lull in recent weeks.
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- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Stree
Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5
Biography
Favourite book: Zen and the Art of Motorcycle Maintenance
Holiday choice: Anything Disney-related
Proudest achievement: Receiving a presidential award for foreign services.
Family: Wife and three children.
Like motto: You always get what you ask for, the universe listens.
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Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood
Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
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Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
ARGENTINA SQUAD
Goalkeepers: Franco Armani, Agustin Marchesin, Esteban Andrada
Defenders: Juan Foyth, Nicolas Otamendi, German Pezzella, Nicolas Tagliafico, Ramiro Funes Mori, Renzo Saravia, Marcos Acuna, Milton Casco
Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez
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Director: Hwang Dong-hyuk
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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
The five pillars of Islam
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RedCrow Intelligence Company Profile
Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
Based: Ramallah, Palestine
Sector: Technology, Security
# of staff: 13
Investment: $745,000
Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors
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Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
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