US President Joe Biden defended his decision to visit Saudi Arabia this week, arguing that the trip to Jeddah will “advance important American interests” and preserve nearly a century-old strategic relationship.
Writing in The Washington Post on Saturday, Mr Biden offered a geopolitical, economic and security rationale behind his trip.
“We have to counter Russia’s aggression [in Ukraine], put ourselves in the best possible position to outcompete China, and work for greater stability in a consequential region of the world,” Mr Biden said.
This requires engaging with countries that can shape that outcome, he explained.
“Saudi Arabia is one of them, and when I meet with Saudi leaders on Friday, my aim will be to strengthen a strategic partnership going forward that’s based on mutual interests and responsibilities, while also holding true to fundamental American values,” Mr Biden wrote.
His trip to the kingdom will be the first to an Arab country since he became president last year. Mr Biden is set to arrive in Jeddah on Friday on a two-day visit.
He is expected to meet Saudi leader King Salman and Crown Prince Mohammed bin Salman, a senior US official said, and attend a summit of the Gulf Co-operation Council plus Egypt, Iraq, and Jordan, known as the GCC+3.
For the past year and a half, however, US-Saudi tension has increased over the killing of Saudi journalist Jamal Khashoggi and Riyadh maintaining its position on oil production. But Mr Biden said the relationship is on a better footing now, and touted his larger regional approach in promoting it.
“From the start, my aim was to reorient — but not rupture — relations with a country that’s been a strategic partner for 80 years,” he said.
He credited Saudi Arabia for helping restore GCC reconciliation, agreeing to the truce in Yemen and said he was “now working with my experts to help stabilise oil markets with other OPEC producers”.
Regional integration is another goal that Mr Biden highlighted for his trip, saying that he will be the first sitting US president to travel from Israel to Saudi Arabia.
His predecessor Donald Trump was the first to take the journey from Riyadh to Tel Aviv in 2018.
A more secure and integrated Middle East is essential to “to global trade and the supply chains we rely on,” he wrote. “Its energy resources are vital for mitigating the impact on global supplies of Russia’s war in Ukraine.”
Politically, he said promoting diplomacy and Arab-Israeli co-operation “is less likely to give rise to violent extremism that threatens our homeland or new wars that could place new burdens on US military forces and their families.”
In his op-ed, Mr Biden directly criticised Mr Trump and his record in the region, mainly for withdrawing from the Iran nuclear deal in 2015, and being unable to fend off attacks on US bases and interests in Iraq.
“After my predecessor reneged on a nuclear deal that was working, Iran had passed a law mandating the rapid acceleration of its nuclear programme,” Mr Biden wrote.
“The Middle East I’ll be visiting is more stable and secure than the one my administration inherited 18 months ago.”
He said Iran is more isolated under his term, and pledged to “continue to increase diplomatic and economic pressure until Iran is ready to return to compliance with the 2015 nuclear deal as I remain prepared to do”.
Mr Biden also cited his administration’s shift on the Israeli-Palestinian issue after years of hostility between the US and the Palestinians under Mr Trump.
“Working with Congress, my administration restored approximately $500 million in support for Palestinians,” he said.
“This week, an Israeli prime minister [Yair Lapid] spoke with the president of the Palestinian Authority [Mahmoud Abbas] for the first time in five years,” the US president wrote.
Mr Biden will visit Israel and Palestine on Wednesday and Thursday, where he will meet both leaders, ahead of his Saudi trip.
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
Feeding the thousands for iftar
Six industrial scale vats of 500litres each are used to cook the kanji or broth
Each vat contains kanji or porridge to feed 1,000 people
The rice porridge is poured into a 500ml plastic box
350 plastic tubs are placed in one container trolley
Each aluminium container trolley weighing 300kg is unloaded by a small crane fitted on a truck
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.
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Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
The specs: 2017 GMC Sierra 1500 Denali
Price, base / as tested Dh207,846 / Dh220,000
Engine 6.2L V8
Transmission Eight-speed automatic
Power 420hp @ 5,600rpm
Torque 624Nm @ 4,100rpm
Fuel economy, combined 13.5L / 100km
How Filipinos in the UAE invest
A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.
Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).
Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.
Landfill in numbers
• Landfill gas is composed of 50 per cent methane
• Methane is 28 times more harmful than Co2 in terms of global warming
• 11 million total tonnes of waste are being generated annually in Abu Dhabi
• 18,000 tonnes per year of hazardous and medical waste is produced in Abu Dhabi emirate per year
• 20,000 litres of cooking oil produced in Abu Dhabi’s cafeterias and restaurants every day is thrown away
• 50 per cent of Abu Dhabi’s waste is from construction and demolition
The bio
Favourite book: Kane and Abel by Jeffrey Archer
Favourite quote: “The world makes way for the man who knows where he is going.” - Ralph Waldo Emerson, American essayist
Favourite Authors: Arab poet Abu At-Tayyib Al-Mutanabbi
Favourite Emirati food: Luqaimat, a deep-fried dough soaked in date syrup
Hobbies: Reading and drawing
