Republican Majority Leader Kevin McCarthy was elected Speaker of the US House of Representatives early on Saturday after falling short in 14 previous rounds of voting.
Mr McCarthy had been stymied by a group of about 20 Republicans holding personal or ideological grievances against him.
Despite him offering a string of concessions, the rebels did not budge in their opposition during 11 votes earlier this week.
Mr McCarthy was declared elected with 216 out of 428 votes, triggering chants of "USA" in the House.
"I hope one thing is clear after this week: I will never give up," he said in a tweet after his election.
In the first two rounds of voting on Friday, the fourth day of proceedings, Mr McCarthy flipped 15 conservative holdouts to become supporters, leaving him just a few shy of seizing the gavel for the new Congress.
He drew even closer in the 14th round on Friday night, receiving 216 out of 432 votes — just one vote short.
The increased support for Mr McCarthy in the earlier votes on Friday came after he told reporters that he had seen some encouraging signs.
“We've got some progress going on. We've got members talking. I think we've got a little movement, so we'll see,” he said.
Mr McCarthy needed to secure 218 votes to be elected speaker if all 434 members of the House are present. With Republicans holding a slim majority of 222 seats after the US midterms, he could afford to lose only four votes.
The Republican holdouts have made the speaker's election the most drawn-out process of its kind since before the US Civil War.
This week's 15 votes marked the highest number of ballots for the speakership since 1859.
“Now, the hard work begins,” Mr McCarthy said in his first address to the House as speaker. He ran through the broad strokes of his agenda, including strengthening the southern US border, addressing federal debt, confronting the rise of China and investigating the Biden administration. “We will use the power of the purse, and the power of the subpoena, to get the job done,” he said.
President Joe Biden, who had earlier described the drawn-out election of a speaker as "not a good look", said it was now time to "govern responsibly and to ensure that we're putting the interests of American families first".
“As I said after the midterms, I am prepared to work with Republicans when I can, and voters made clear that they expect Republicans to be prepared to work with me as well," Mr Biden said.
"Now that the leadership of the House of Representatives has been decided, it is time for that process to begin.”
Without a speaker, the chamber was unable to swear in members and begin its 2023-24 session.
The election saga and scenes of chaos in the House have raised questions about whether America is vulnerable from a national security standpoint, as without the chamber, wars cannot be started or ended.
John Kirby, spokesman for the National Security Council, was asked at a press conference about the potential impacts of not having a functioning House.
There is “no particular worry or concern that national security will be put at significant risk here”, he said.
“I don't want to suggest that there's not going to be any national security impacts … but [it] should not be an overriding concern.”
The speaker's gavel gives Mr McCarthy the authority to block Mr Biden's legislative agenda, force votes for Republican priorities on the economy, energy and immigration, and move forward with investigations into the President, his family and his administration.
But the holdouts wanted a deal that would make it easier to oust the speaker and give them greater influence within the House Republican caucus and on congressional committees.
Late on Wednesday, some Republicans expressed hope for a deal, but some of Mr McCarthy's “never Kevin” opponents showed no sign of yielding.
“This ends in one of two ways: either Kevin McCarthy withdraws from the race or we construct a straitjacket that he is unwilling to evade,” said Republican Matt Gaetz, who on Thursday voted for Donald Trump to be speaker.
A speaker does not necessarily need to be a member of Congress.
Ellie Sennett contributed to this report from the White House
yallacompare profile
Date of launch: 2014
Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer
Based: Media City, Dubai
Sector: Financial services
Size: 120 employees
Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Winners
Best Men's Player of the Year: Kylian Mbappe (PSG)
Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)
TikTok Fans’ Player of the Year: Robert Lewandowski
Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)
Best Women's Player of the Year: Alexia Putellas (Barcelona)
Best Men's Club of the Year: Chelsea
Best Women's Club of the Year: Barcelona
Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)
Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)
Best Coach of the Year: Roberto Mancini (Italy)
Best National Team of the Year: Italy
Best Agent of the Year: Federico Pastorello
Best Sporting Director of the Year: Txiki Begiristain (Manchester City)
Player Career Award: Ronaldinho
MATCH INFO
What: Brazil v South Korea
When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae
The%20Super%20Mario%20Bros%20Movie
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Aaron%20Horvath%20and%20Michael%20Jelenic%0D%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Chris%20Pratt%2C%20Anya%20Taylor-Joy%2C%20Charlie%20Day%2C%20Jack%20Black%2C%20Seth%20Rogen%20and%20Keegan-Michael%20Key%0D%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%201%2F5%3C%2Fp%3E%0A
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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%20SPECS
%3Cp%3EEngine%3A%204.4-litre%20twin-turbo%20V8%20hybrid%0D%3Cbr%3EPower%3A%20653hp%20at%205%2C400rpm%0D%3Cbr%3ETorque%3A%20800Nm%20at%201%2C600-5%2C000rpm%0D%3Cbr%3ETransmission%3A%208-speed%20auto%0D%3Cbr%3E0-100kph%20in%204.3sec%0D%3Cbr%3ETop%20speed%20250kph%0D%3Cbr%3EFuel%20consumption%3A%20NA%0D%3Cbr%3EOn%20sale%3A%20Q2%202023%0D%3Cbr%3EPrice%3A%20From%20Dh750%2C000%0D%3Cbr%3E%3C%2Fp%3E%0A
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
More coverage from the Future Forum
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Nag%20Ashwin%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EPrabhas%2C%20Saswata%20Chatterjee%2C%20Deepika%20Padukone%2C%20Amitabh%20Bachchan%2C%20Shobhana%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E%E2%98%85%E2%98%85%E2%98%85%E2%98%85%3C%2Fp%3E%0A