US Presidential envoy for climate John Kerry on Wednesday called the UAE and Egypt's work to hasten the energy transformation "bold leadership".
"They're deeply engaged on the cutting edge of trying to help accelerate the transformation," Mr Kerry said in a briefing.
"In addition, the UAE has been on the cutting edge of a whole bunch of technology investments. And for a gas and oil-producing country, I think it's exceptional."
"I think that's bold leadership."
Mr Kerry said that the US is working "very closely with Dr Sultan Al Jaber and with His Excellency the President Sheikh Mohamed bin Zayed".
With just a couple of weeks before the UN climate summit starts in Egypt’s coastal town of Sharm El Sheikh, Mr Kerry laid out Washington's top priorities for Cop27.
He said that the Biden administration's goal at the climate summit was to assure that the promises that were made in Glasgow were "actually being pursued at the pace they need to be pursued".
Mr Kerry spoke of the devastating effects of climate change in Africa, which is home to 17 of the world’s 20 most climate-vulnerable countries.
He said developed nations, which are responsible for 80 per cent of greenhouse emissions, should take the lead in helping developing states adapt to the effects of climate change and be ahead of the curve for the new energy future.
Mr Kerry said climate disasters should be a motivation to act with urgency and do everything to stop global temperatures from rising more than 1.5°C above pre-industrial levels.
"If we don't do that, we will bring much greater destruction on ourselves, [making] the planet much more inhospitable, even unlivable."
At the Council on Foreign Relations on Tuesday, he said that Washington was open to seeking a middle ground on the growing demand for wealthy climate offenders to compensate poorer nations for damage to the Earth’s climate.
Under the 2015 Paris Agreement on climate change, developing countries were promised a pool of $100 billion a year to finance initiatives to help them cope with the effects of global warming.
That target has not been achieved.
“We believe we have to step up and we have a responsibility. We accept that,” Mr Kerry said.
UN Secretary General Antonio Guterres said this month that financial commitments to the developing world must be delivered.
“We need to see evidence of how they will double adaptation finance to at least $40bn in 2025, as agreed in Glasgow at Cop26," Mr Guterres said.
More than 35,000 people are expected to take part in Cop27, which will be held in Egypt from November 6 to 18.
This will be the fifth time the event has been hosted in Africa.
The region's governments hope it will draw attention to the severe effects of climate change on the continent.
The Intergovernmental Panel on Climate Change said Africa was one of the most vulnerable regions in the world.
Currently, 17 million people are estimated to be facing food insecurity in East Africa because of drought, the UN says.
Next year the UAE will host Cop28.
Etihad to launch net-zero flight to Cop27 - in pictures
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
Sholto Byrnes on Myanmar politics
MATCH INFO
Champions League quarter-final, first leg
Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)
Matches can be watched on BeIN Sports
World Cup final
Who: France v Croatia
When: Sunday, July 15, 7pm (UAE)
TV: Game will be shown live on BeIN Sports for viewers in the Mena region
Golden Shoe top five (as of March 1):
Harry Kane, Tottenham, Premier League, 24 goals, 48 points
Edinson Cavani, PSG, Ligue 1, 24 goals, 48 points
Ciro Immobile, Lazio, Serie A, 23 goals, 46 points
Mohamed Salah, Liverpool, Premier League, 23 goals, 46 points
Lionel Messi, Barcelona, La Liga, 22 goals, 44 points
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
Packages which the US Secret Service said contained possible explosive devices were sent to:
- Former first lady Hillary Clinton
- Former US president Barack Obama
- Philanthropist and businessman George Soros
- Former CIA director John Brennan at CNN's New York bureau
- Former Attorney General Eric Holder (delivered to former DNC chair Debbie Wasserman Schultz)
- California Congresswoman Maxine Waters (two devices)