UK Defence Secretary Ben Wallace is in Washington as Russian threats towards Ukraine persist. AP
UK Defence Secretary Ben Wallace is in Washington as Russian threats towards Ukraine persist. AP
UK Defence Secretary Ben Wallace is in Washington as Russian threats towards Ukraine persist. AP
UK Defence Secretary Ben Wallace is in Washington as Russian threats towards Ukraine persist. AP

UK Defence Secretary Ben Wallace discusses Ukraine in US visit


Ellie Sennett
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Britain's Defence Secretary Ben Wallace is visiting Washington this week as the war in Ukraine continues to escalate.

He has met National Security Adviser Jake Sullivan and US Defence Secretary Lloyd Austin to discuss sending Kyiv additional security assistance, as Russia steps up missile strikes against the Ukrainian capital and as Russian President Vladimir Putin threatens nuclear war.

“They discussed ongoing efforts to support Ukraine, including through the provision of security assistance, and the importance of transatlantic co-operation and regional security in light of Russia’s continued brutal attack on Ukraine,” the Pentagon said in a statement late on Tuesday.

Both Washington and London have enacted sweeping sanctions on Russia while also rushing aid and weapons into Ukraine, with the US sending $17.6 billion in assistance since Russia's February 24 invasion.

Mr Putin last month suggested that he is ready to resort to using nuclear weapons to protect Russian territory. Paired with Moscow's internationally rejected referendums used to justify annexing four Ukrainian territories, those threats are becoming increasingly high risk.

The Russian leader declared martial law in the annexed territories on Wednesday, which could involve restrictions on travel and public gatherings, tighter censorship and sweeping authorities for security forces.

  • From left, Moscow-appointed head of Kherson region Vladimir Saldo, Moscow-appointed head of Zaporizhzhia region Yevgeny Balitsky, Russian President Vladimir Putin, leader of the Donetsk People's Republic Denis Pushilin, and leader of the Luhansk People's Republic Leonid Pasechnik during a ceremony to sign an annexation agreement with Russia in Moscow. AP
    From left, Moscow-appointed head of Kherson region Vladimir Saldo, Moscow-appointed head of Zaporizhzhia region Yevgeny Balitsky, Russian President Vladimir Putin, leader of the Donetsk People's Republic Denis Pushilin, and leader of the Luhansk People's Republic Leonid Pasechnik during a ceremony to sign an annexation agreement with Russia in Moscow. AP
  • Russians gather for a celebration after the ceremony in central Moscow. EPA
    Russians gather for a celebration after the ceremony in central Moscow. EPA
  • People gather near a screen showing Mr Putin during a broadcast of the ceremony. Reuters
    People gather near a screen showing Mr Putin during a broadcast of the ceremony. Reuters
  • Mr Putin speaks during the ceremony to sign the treaties for the new territories' accession to Russia at the Grand Kremlin Palace in Moscow. EPA
    Mr Putin speaks during the ceremony to sign the treaties for the new territories' accession to Russia at the Grand Kremlin Palace in Moscow. EPA
  • Law enforcement officers stand guard as people walk towards Red Square to attend the ceremony marking the annexation of the Russian-controlled territories. Reuters
    Law enforcement officers stand guard as people walk towards Red Square to attend the ceremony marking the annexation of the Russian-controlled territories. Reuters
  • Participants listen to Mr Putin at the ceremony in the Georgievsky Hall of the Great Kremlin Palace in Moscow. Reuters
    Participants listen to Mr Putin at the ceremony in the Georgievsky Hall of the Great Kremlin Palace in Moscow. Reuters
  • Honour guards attend the ceremony. Reuters
    Honour guards attend the ceremony. Reuters
  • Russian Defence Minister Sergey Shoigu arrives at the ceremony. AP
    Russian Defence Minister Sergey Shoigu arrives at the ceremony. AP
  • People walk towards Red Square in Moscow. Reuters
    People walk towards Red Square in Moscow. Reuters
  • People gather in front of screens located near the Kremlin before the live broadcast of the ceremony. Reuters
    People gather in front of screens located near the Kremlin before the live broadcast of the ceremony. Reuters

“We are completely ready,” Brig Gen Patrick Ryder, spokesman for the Pentagon, said on Tuesday when asked if Washington was prepared for a nuclear scenario in the Russia-Ukraine conflict, calling Mr Putin's threats “reckless.”

Mr Putin's nuclear threats are “irresponsible, particularly given the security situation in that region of the world and elsewhere”.

“And so. it's something that we'll continue to keep a close eye on in the meantime. We have not seen anything that would indicate that Russia has made a decision to employ nuclear weapons,” he added.

The US Defence Intelligence Agency’s Worldwide Threat Assessment in 2021 stated that Russia probably possesses 1,000 to 2,000 nonstrategic nuclear warheads.

The%20specs
%3Cp%3E%3Cstrong%3EPowertrain%3A%20%3C%2Fstrong%3ESingle%20electric%20motor%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E201hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E310Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20auto%0D%3Cbr%3E%3Cstrong%3EBattery%3A%20%3C%2Fstrong%3E53kWh%20lithium-ion%20battery%20pack%20(GS%20base%20model)%3B%2070kWh%20battery%20pack%20(GF)%0D%3Cbr%3E%3Cstrong%3ETouring%20range%3A%20%3C%2Fstrong%3E350km%20(GS)%3B%20480km%20(GF)%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C900%20(GS)%3B%20Dh149%2C000%20(GF)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
The specs: 2018 Opel Mokka X

Price, as tested: Dh84,000

Engine: 1.4L, four-cylinder turbo

Transmission: Six-speed auto

Power: 142hp at 4,900rpm

Torque: 200Nm at 1,850rpm

Fuel economy, combined: 6.5L / 100km

if you go

The flights

Emirates have direct flights from Dubai to Glasgow from Dh3,115. Alternatively, if you want to see a bit of Edinburgh first, then you can fly there direct with Etihad from Abu Dhabi.

The hotel

Located in the heart of Mackintosh's Glasgow, the Dakota Deluxe is perhaps the most refined hotel anywhere in the city. Doubles from Dh850

 Events and tours

There are various Mackintosh specific events throughout 2018 – for more details and to see a map of his surviving designs see glasgowmackintosh.com

For walking tours focussing on the Glasgow Style, see the website of the Glasgow School of Art. 

More information

For ideas on planning a trip to Scotland, visit www.visitscotland.com

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%3Cp%3EAverage%20amount%20of%20biofuel%20produced%20at%20DIC%20factory%20every%20month%3A%20%3Cstrong%3EApproximately%20106%2C000%20litres%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EAmount%20of%20biofuel%20produced%20from%201%20litre%20of%20used%20cooking%20oil%3A%20%3Cstrong%3E920ml%20(92%25)%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3ETime%20required%20for%20one%20full%20cycle%20of%20production%20from%20used%20cooking%20oil%20to%20biofuel%3A%20%3Cstrong%3EOne%20day%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EEnergy%20requirements%20for%20one%20cycle%20of%20production%20from%201%2C000%20litres%20of%20used%20cooking%20oil%3A%3Cbr%3E%3Cstrong%3E%E2%96%AA%20Electricity%20-%201.1904%20units%3Cbr%3E%E2%96%AA%20Water-%2031%20litres%3Cbr%3E%E2%96%AA%20Diesel%20%E2%80%93%2026.275%20litres%3C%2Fstrong%3E%3C%2Fp%3E%0A
Top investing tips for UAE residents in 2021

Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.

Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.

Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.

Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.

Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.

Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.

Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”

Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI. 

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

Updated: October 19, 2022, 3:50 PM