Ukrainian reservists attend a military exercise at a training ground near Kiev, Ukraine, this month. EPA
Ukrainian reservists attend a military exercise at a training ground near Kiev, Ukraine, this month. EPA
Ukrainian reservists attend a military exercise at a training ground near Kiev, Ukraine, this month. EPA
Ukrainian reservists attend a military exercise at a training ground near Kiev, Ukraine, this month. EPA

US and Russia to hold Ukraine crisis talks


Joyce Karam
  • English
  • Arabic

The US and Russia will hold key talks in Geneva on January 10 to discuss European security and the crisis at the Ukrainian border, where Russia has amassed more than 100,000 troops amid western fears Moscow is planning to invade.

“We look forward to engaging with Russia in the strategic stability dialogue on January 10,” US State Department spokesman Ned Price said on Tuesday.

The Kremlin has said the West and Nato are encroaching dangerously close to Russia's borders and has demanded that the military alliance not expand eastward.

The meeting will be followed by a Russia-Nato summit on January 12 and a meeting of the Organisation of Security and Co-operation in Europe (OSCE) a day later.

“There will be areas where we can make progress, areas I'm sure where we will disagree, that's what diplomacy is about,” Mr Price said.

The US did not announce who will lead the delegation to Geneva.

National Security Adviser Jake Sullivan and Secretary of State Antony Blinken have taken the lead in handling the Ukraine crisis with Russia and the Europeans.

But even as it prepares for dialogue with Moscow, Washington is maintaining pressure on the Kremlin to deter it from invading Ukraine.

The Pentagon announced on Tuesday that a US carrier strike group will remain in the Mediterranean Sea instead of journeying to the Middle East, USNI News reported.

The change is meant to reassure European allies of the US commitment to regional security.

A White House official told The National on Tuesday that the Biden administration is committed to deterrence and diplomacy.

“President [Joe] Biden’s approach on Ukraine has been clear and consistent: unite the alliance behind two tracks — deterrence and diplomacy. We are unified as an alliance on the consequences Russia would face if it moves on Ukraine. But we are also unified in our willingness to engage in principled diplomacy with Russia,” the official said.

Moscow this month presented the West with sweeping security demands, saying Nato must not admit new members while attempting to bar the US from establishing new bases in former Soviet republics.

Russian Deputy Foreign Minister Sergei Ryabkov on Tuesday confirmed the Geneva meeting. Mr Biden and Russian leader Vladimir Putin met for their first summit there in June.

Foreign Minister Zbigniew Rau of Poland, which takes the helm of the OSCE in the new year, will address the meeting, said a representative for the organisation, founded during the Cold War as a forum involving Moscow and the West.

Russian Foreign Minister Sergey Lavrov said that Moscow would take a “hard line” in the talks aimed at defending its interests and avoiding “concessions".

Deployment by Russia of tens of thousands of troops to the border sparked fears in Kiev and its western allies of a wider war, possibly including further seizures of Ukrainian territory.

Mr Putin denies planning to attack the neighbouring country, saying the troop movements are meant to defend Russia against an encroaching western military.

The US and its European partners have threatened to impose harsh economic sanctions if Russia invades Ukraine, while also offering to hold negotiations.

AFP contributed to this report

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

ICC T20 Rankings

1. India - 270 ranking points

 

2. England - 265 points

 

3. Pakistan - 261 points

 

4. South Africa - 253 points

 

5. Australia - 251 points 

 

6. New Zealand - 250 points

 

7. West Indies - 240 points

 

8. Bangladesh - 233 points

 

9. Sri Lanka - 230 points

 

10. Afghanistan - 226 points

 

Favourite book: ‘The Art of Learning’ by Josh Waitzkin

Favourite film: Marvel movies

Favourite parkour spot in Dubai: Residence towers in Jumeirah Beach Residence

COMPANY%20PROFILE
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Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

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Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

The bio

Favourite book: The Alchemist by Paulo Coelho

Favourite travel destination: Maldives and south of France

Favourite pastime: Family and friends, meditation, discovering new cuisines

Favourite Movie: Joker (2019). I didn’t like it while I was watching it but then afterwards I loved it. I loved the psychology behind it.

Favourite Author: My father for sure

Favourite Artist: Damien Hurst

The specs: 2018 Ducati SuperSport S

Price, base / as tested: Dh74,900 / Dh85,900

Engine: 937cc

Transmission: Six-speed gearbox

Power: 110hp @ 9,000rpm

Torque: 93Nm @ 6,500rpm

Fuel economy, combined: 5.9L / 100km

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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Empty Words

By Mario Levrero  

(Coffee House Press)
 

Company%20profile
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Updated: December 29, 2021, 3:35 AM