US Secretary of State Antony Blinken hosted Egyptian Foreign Minister Sameh Shoukry in Washington on Monday in the first strategic dialogue between the US and Egypt since 2015.
Mr Blinken vowed to bring the US-Egypt strategic dialogue back to “a more regular cadence” and announced that the two countries would launch a new climate working group as Egypt bids to host the Cop27 climate conference next year, while another working group will aim to bolster economic co-operation.
He noted that both he and Mr Shoukry had recently returned from Cop26 in Scotland, where Egypt pledged to double its use of renewable energy from 20 to 42 per cent by 2035.
The US secretary of state also said the new joint economic initiative “is more important than ever, given the devastating impact of Covid-19, particularly on underserved populations".
He added that he and Mr Shoukry had also addressed the Palestinian-Israeli conflict, Libya, Sudan and Ethiopia during their meeting.
“The crisis in Ethiopia also puts the stability of the Horn of Africa at risk,” he said.
“The United States also continues to support negotiated agreement on the dispute over the Grand Ethiopian Renaissance Dam that will address the interests of all parties, including Egypt's water needs, something that President [Joe] Biden and President [Abdel Fattah] El Sisi have discussed.”
Egypt says the dam would inhibit its access to Nile River water.
A senior US official told The National in September that the Biden administration is largely deferring to the African Union on the dam talks after US-brokered efforts under former president Donald Trump failed to resolve the dispute.
Mr Blinken said that both the US and Egypt “have a shared interest in getting” Sudan’s “democratic transition back on track” following the military coup last month against the civilian wing of the transitional government, which prompted Washington to pause its emergency aid payments to Khartoum.
He also praised the part Egypt is playing in Libya, saying it “has played a key role in pushing for an inclusive political process and for elections to be held on time".
Following the meeting, State Department spokesman Ned Price said Mr Blinken “also expressed appreciation for Egypt’s role in supporting regional stability, including its continued work to de-escalate tension in Gaza".
Mr Price noted that Mr Blinken “reaffirmed President Biden's commitment that human rights will be central to US foreign policy and welcomed the chance to discuss Egypt’s human rights goals".
The Biden administration announced it would withhold $130 million in Egyptian military aid until Cairo meets a series of human rights criteria, including the release of 16 political prisoners.
Mr Shoukry said after the meeting that “human rights are an interdependent whole, which necessitates that we dedicate equal attention to political rights and civil liberties and economic and social rights".
But he said human rights should take into consideration “social specificities, developmental realities, religious background and cultural characteristics".
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
The design
The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.
More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.
The architecture will control light sources to provide a highly insulated and airtight building.
The forecourt is protected from the sun and the plants will refresh the inner spaces.
A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.
Energy-saving equipment will be used for all lighting and projections.
Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.
Some elements of the metal frame can be prefabricated in a factory.
From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.
Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019.
Construction of the pavilion will take 17 months from May 2019 to September 2020.
Abu Dhabi traffic facts
Drivers in Abu Dhabi spend 10 per cent longer in congested conditions than they would on a free-flowing road
The highest volume of traffic on the roads is found between 7am and 8am on a Sunday.
Travelling before 7am on a Sunday could save up to four hours per year on a 30-minute commute.
The day was the least congestion in Abu Dhabi in 2019 was Tuesday, August 13.
The highest levels of traffic were found on Sunday, November 10.
Drivers in Abu Dhabi lost 41 hours spent in traffic jams in rush hour during 2019
In numbers
1,000 tonnes of waste collected daily:
- 800 tonnes converted into alternative fuel
- 150 tonnes to landfill
- 50 tonnes sold as scrap metal
800 tonnes of RDF replaces 500 tonnes of coal
Two conveyor lines treat more than 350,000 tonnes of waste per year
25 staff on site
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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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