South Korean Minister of Defence Lee Jong-sup and US Secretary of Defence Lloyd Austin arrive for a joint press conference at the Pentagon in Arlington, Virginia. EPA
South Korean Minister of Defence Lee Jong-sup and US Secretary of Defence Lloyd Austin arrive for a joint press conference at the Pentagon in Arlington, Virginia. EPA
South Korean Minister of Defence Lee Jong-sup and US Secretary of Defence Lloyd Austin arrive for a joint press conference at the Pentagon in Arlington, Virginia. EPA
South Korean Minister of Defence Lee Jong-sup and US Secretary of Defence Lloyd Austin arrive for a joint press conference at the Pentagon in Arlington, Virginia. EPA

US and South Korea extend military exercises after North Korean missile launches


Patrick deHahn
  • English
  • Arabic

Defence chiefs from the US and South Korea on Thursday said they would extend joint military exercises following a string of missile launches by North Korea.

US Secretary of Defence Lloyd Austin and South Korea's Defence Minister Lee Jong-sup met in Washington to discuss the “grave security challenge” posed by North Korea.

“At this time of heightened tension, our alliance is ironclad,” Mr Austin said.

North Korea test-fired an intercontinental ballistic missile (ICBM) on Thursday, shortly after it launched a record-breaking barrage of 23 missiles in a single day.

  • Air raid sirens sounded across South Korea as North Korea tested its missile systems on Wednesday, including one that fell close to South Korean waters. Here, travellers at a railway station in Seoul watch a news broadcast. AFP
    Air raid sirens sounded across South Korea as North Korea tested its missile systems on Wednesday, including one that fell close to South Korean waters. Here, travellers at a railway station in Seoul watch a news broadcast. AFP
  • North Korean leader Kim Jong Un delivers a speech at the Central Academy of the Workers' Party of Korea in Pyongyang on October 18. AFP
    North Korean leader Kim Jong Un delivers a speech at the Central Academy of the Workers' Party of Korea in Pyongyang on October 18. AFP
  • In Tokyo, Japanese Prime Minister Fumio Kishida speaks to reporters about North Korea's ballistic missile test on Wednesday. Reuters
    In Tokyo, Japanese Prime Minister Fumio Kishida speaks to reporters about North Korea's ballistic missile test on Wednesday. Reuters
  • South Korea's President Yoon Suk-yeol, centre, attends a meeting of the National Security Council in Seoul, South Korea, on Wednesday. AP
    South Korea's President Yoon Suk-yeol, centre, attends a meeting of the National Security Council in Seoul, South Korea, on Wednesday. AP
  • Travellers at Seoul Railway Station watch a TV news report on North Korea's missile tests. AP
    Travellers at Seoul Railway Station watch a TV news report on North Korea's missile tests. AP
  • A soldier at Seoul Railway Station watches a TV news report about North Korea's missile tests. EPA
    A soldier at Seoul Railway Station watches a TV news report about North Korea's missile tests. EPA
  • Television news in South Korea reports news of North Korea's missile tests. On Wednesday, Seoul told residents on the island of Ulleungdo off its east coast to evacuate to bunkers after North Korea fired three short range ballistic missiles. AFP
    Television news in South Korea reports news of North Korea's missile tests. On Wednesday, Seoul told residents on the island of Ulleungdo off its east coast to evacuate to bunkers after North Korea fired three short range ballistic missiles. AFP
  • At a railway station in Seoul on Wednesday, a man watches a television broadcast showing a news broadcast with file footage of a North Korean missile test. AFP
    At a railway station in Seoul on Wednesday, a man watches a television broadcast showing a news broadcast with file footage of a North Korean missile test. AFP

Concerns are growing that an ICBM could reach western countries, including the US, posing a grave threat if North Korea were to make it nuclear capable.

Mr Austin called the launches “illegal and destabilising”.

The US has 28,500 troops based in South Korea and the allies frequently train together.

The defence chiefs said the coming “Violent Storm” military drills would be extended to include an exercise in which Pyongyang has a nuclear weapon.

Still, the two defence ministers said that they did not feel the US should deploy nuclear devices to the Korean peninsula in response to Pyongyang's latest moves.

Mr Austin condemned the North's “irresponsible and reckless activities” but also hoped for “serious dialogue”.

The bio

His favourite book - 1984 by George Orwell

His favourite quote - 'If you think education is expensive, try ignorance' by Derek Bok, Former President of Harvard

Favourite place to travel to - Peloponnese, Southern Greece

Favourite movie - The Last Emperor

Favourite personality from history - Alexander the Great

Role Model - My father, Yiannis Davos

 

 

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

SRI LANKA SQUAD

Upul Tharanga (captain), Dinesh Chandimal, Niroshan Dickwella
Lahiru Thirimanne, Kusal Mendis, Milinda Siriwardana
Chamara Kapugedara, Thisara Perera, Seekuge Prasanna
Nuwan Pradeep, Suranga Lakmal, Dushmantha Chameera
Vishwa Fernando, Akila Dananjaya, Jeffrey Vandersay

Company profile

Name: Tharb

Started: December 2016

Founder: Eisa Alsubousi

Based: Abu Dhabi

Sector: Luxury leather goods

Initial investment: Dh150,000 from personal savings

 

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20PlanRadar%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2013%3Cbr%3E%3Cstrong%3ECo-founders%3A%20%3C%2Fstrong%3EIbrahim%20Imam%2C%20Sander%20van%20de%20Rijdt%2C%20Constantin%20K%C3%B6ck%2C%20Clemens%20Hammerl%2C%20Domagoj%20Dolinsek%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EVienna%2C%20Austria%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EConstruction%20and%20real%20estate%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E400%2B%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20B%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Headline%2C%20Berliner%20Volksbank%20Ventures%2C%20aws%20Gr%C3%BCnderfonds%2C%20Cavalry%20Ventures%2C%20Proptech1%2C%20Russmedia%2C%20GR%20Capital%3C%2Fp%3E%0A
The Sheikh Zayed Future Energy Prize

This year’s winners of the US$4 million Sheikh Zayed Future Energy Prize will be recognised and rewarded in Abu Dhabi on January 15 as part of Abu Dhabi Sustainable Week, which runs in the capital from January 13 to 20.

From solutions to life-changing technologies, the aim is to discover innovative breakthroughs to create a new and sustainable energy future.

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

The Gandhi Murder
  • 71 - Years since the death of MK Gandhi, also christened India's Father of the Nation
  • 34 - Nationalities featured in the film The Gandhi Murder
  • 7 - million dollars, the film's budget 
Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

Updated: November 04, 2022, 6:52 AM