The Orion spacecraft prepares for launch at Nasa's Kennedy Space Centre in Florida. Nasa / EPA
The Orion spacecraft prepares for launch at Nasa's Kennedy Space Centre in Florida. Nasa / EPA
The Orion spacecraft prepares for launch at Nasa's Kennedy Space Centre in Florida. Nasa / EPA
The Orion spacecraft prepares for launch at Nasa's Kennedy Space Centre in Florida. Nasa / EPA

Four-nation space project involving UAE could aid climate change fight


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The future of the fight against climate change and food security could be out of this world: the UAE, the US, India and Israel are teaming up on a new space-based project that will shape the way the world responds to these and other pressing issues.

Jose Fernandez, US Undersecretary of State for economic growth, energy and the environment, spoke to The National about plans for the project, which he said will provide vast amounts of data that will help countries tackle the effects of global warming.

“This project will be grounded in the principle of open access to scientific data for the benefit of all humanity,” he explained, adding that the I2U2 partners have established a working-level group on the project that is set to meet soon to discuss priorities.

“This group will advance multi-regional co-operation and investment opportunities, forging partnerships to tackle some of the region's most pressing issues, including managing the energy crisis and addressing food insecurity.”

In July of last year, the UAE, the US, India and Israel established an international partnership – I2U2 – focused on economic co-operation across seven sectors: food security, water, energy, transport, health, technology and space.

All members are also signatories of the Artemis Accords, an arrangement between world governments participating in the American-led effort to return humans to the Moon by 2025, with the ultimate goal of expanding space exploration.

On the sidelines of this year's UN General Assembly in New York, the group launched a special projects initiative, as the four nations work to encourage international partnership in mobilising private sector capital, modernising infrastructure and promoting green technology.

“Primarily using the space-based observation data and capabilities of the four I2U2 partner countries, this project aims to create a unique space-based tool for policymakers, institutions and entrepreneurs, enabling their work on environmental and climate change challenges and furthering our co-operation in the applications of space data for the greater good of humanity,” the US State Department said.

Mr Fernandez was light on the characteristics of the new programme, but was optimistic about its projected results.

“Details of the co-operation are still being developed. We are planning a joint declaration that will outline how, what and where data will be shared and analysed,” he said.

“We view this as a significant opportunity to combine our efforts in tackling the climate crisis.”

The UAE has been making great strides in space exploration over the past few years. The country's first astronaut, Hazza Al Mansouri, travelled to the International Space Station in 2019, the Hope probe to Mars was launched in 2020 and the probe went into orbit around the Red Planet in 2021.

Most recently, Emirati astronaut Sultan Al Neyadi returned from a six-month mission to the ISS where he carried out a number of scientific experiments and became the first person from the Arab world to perform a spacewalk.

The Emirates plans to invest more than Dh3 billion ($816 million) in the private space sector to increase the country’s capabilities in space over the next decade, UAE ambassador to the US Yousef Al Otaiba said at the end of last year.

Mr Fernandez said that meetings of the I2U2 group in Abu Dhabi last February laid the foundation for agreements that included space co-operation.

The agreements have “led to the discovery of new avenues for entrepreneurship and innovation”, he added.

“We continue to support deeper trade and commercial relations between the partner countries.”

As to Earth-bound efforts to ensure food security, Mr Fernandez highlighted the Agriculture Innovation Mission, a joint initiative between the US and the UAE.

“Aim for Climate is a joint initiative launched by the UAE and the United States, aimed at addressing climate change and global hunger by rallying participants to significantly increase investment in climate-smart agriculture and food systems innovation over five years,” he said.

Mr Fernandez officially represented Washington in Abu Dhabi at the signing of the agreement, which outlined the US the UAE's dedication to safeguarding food production against the impacts of climate change.

He also pointed to the recent launch of the I2U2 Private Enterprise Partnership with the US-UAE Business Council, the UAE-India Business Council and the UAE-Israel Business Council.

“This new public-private partnership will work to raise awareness of the I2U2 group within business communities and support projects and other initiatives that further the goals of the I2U2 group,” he explained.

“This marks the first of hopefully many such partnerships between the I2U2 partners and the private sector.”

UAE's Sultan Al Neyadi becomes first Arab to walk in space – in pictures

  • Emirati astronaut Sultan Al Neyadi posted new pictures of his April 28 spacewalk. Photo: @Astro_Alneyadi / Twitter
    Emirati astronaut Sultan Al Neyadi posted new pictures of his April 28 spacewalk. Photo: @Astro_Alneyadi / Twitter
  • Dr Al Neyadi made history by becoming the first Arab to walk in space. Photo: @Astro_Alneyadi / Twitter
    Dr Al Neyadi made history by becoming the first Arab to walk in space. Photo: @Astro_Alneyadi / Twitter
  • He was assisted by American astronaut Stephen Bowen. Photo: @Astro_Alneyadi / Twitter
    He was assisted by American astronaut Stephen Bowen. Photo: @Astro_Alneyadi / Twitter
  • The spacewalk lasted six and a half hours. Photo: @Astro_Alneyadi / Twitter
    The spacewalk lasted six and a half hours. Photo: @Astro_Alneyadi / Twitter
  • Dr Al Neyadi prepares for the spacewalk. All subsequent photos: Nasa
    Dr Al Neyadi prepares for the spacewalk. All subsequent photos: Nasa
  • Dr Al Neyadi steps out of the International Space Station
    Dr Al Neyadi steps out of the International Space Station
  • Fellow UAE astronaut Hazza Al Mansouri, increment lead of Expedition 69 on Earth, monitoring the mission from the Johnson Space Centre
    Fellow UAE astronaut Hazza Al Mansouri, increment lead of Expedition 69 on Earth, monitoring the mission from the Johnson Space Centre
  • The view from Dr Al Neyadi's camera
    The view from Dr Al Neyadi's camera
  • The astronauts outside the space station
    The astronauts outside the space station
  • The astronauts carry out maintenance work on the International Space Station
    The astronauts carry out maintenance work on the International Space Station
  • Dr Al Neyadi, top, carries out repairs outside the ISS
    Dr Al Neyadi, top, carries out repairs outside the ISS
  • The pair exited the space station at 5.41pm GST
    The pair exited the space station at 5.41pm GST
  • The spacewalk officially began at 5.11pm when their spacesuits switched to battery power
    The spacewalk officially began at 5.11pm when their spacesuits switched to battery power
  • While the spacesuits weigh 127kg, astronauts cannot feel this weight in space
    While the spacesuits weigh 127kg, astronauts cannot feel this weight in space
  • The astronauts are tethered to the station while floating in microgravity more than 400km above the Earth
    The astronauts are tethered to the station while floating in microgravity more than 400km above the Earth
  • Dr Al Neyadi carries out repairs
    Dr Al Neyadi carries out repairs
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

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).

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COMPANY PROFILE

Company name: Letstango.com

Started: June 2013

Founder: Alex Tchablakian

Based: Dubai

Industry: e-commerce

Initial investment: Dh10 million

Investors: Self-funded

Total customers: 300,000 unique customers every month

If you go...

Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).

The lowdown

Badla

Rating: 2.5/5

Produced by: Red Chillies, Azure Entertainment 

Director: Sujoy Ghosh

Cast: Amitabh Bachchan, Taapsee Pannu, Amrita Singh, Tony Luke

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EWafeq%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJanuary%202019%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENadim%20Alameddine%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%2C%20UAE%3Cstrong%3E%3Cbr%3EIndustry%3A%20%3C%2Fstrong%3Esoftware%20as%20a%20service%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%20%3C%2Fstrong%3E%243%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3ERaed%20Ventures%20and%20Wamda%2C%20among%20others%3C%2Fp%3E%0A
The specs

Engine: 3.8-litre twin-turbo V8

Power: 611bhp

Torque: 620Nm

Transmission: seven-speed automatic

Price: upon application

On sale: now

The specs: 2019 Infiniti QX50

Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)

Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

Abu Dhabi GP schedule

Friday: First practice - 1pm; Second practice - 5pm

Saturday: Final practice - 2pm; Qualifying - 5pm

Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

THE SPECS

Cadillac XT6 2020 Premium Luxury

Engine:  3.6L V-6

Transmission: nine-speed automatic

Power: 310hp

Torque: 367Nm

Price: Dh280,000

The specs

Engine: 1.5-litre 4-cyl turbo

Power: 194hp at 5,600rpm

Torque: 275Nm from 2,000-4,000rpm

Transmission: 6-speed auto

Price: from Dh155,000

On sale: now

The specs: 2017 Maserati Quattroporte

Price, base / as tested Dh389,000 / Dh559,000

Engine 3.0L twin-turbo V8

Transmission Eight-speed automatic

Power 530hp @ 6,800rpm

Torque 650Nm @ 2,000 rpm

Fuel economy, combined 10.7L / 100km

Mane points for safe home colouring
  • Natural and grey hair takes colour differently than chemically treated hair
  • Taking hair from a dark to a light colour should involve a slow transition through warmer stages of colour
  • When choosing a colour (especially a lighter tone), allow for a natural lift of warmth
  • Most modern hair colours are technique-based, in that they require a confident hand and taught skills
  • If you decide to be brave and go for it, seek professional advice and use a semi-permanent colour
Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

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.

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

BUNDESLIGA FIXTURES

Friday (UAE kick-off times)

Borussia Dortmund v Paderborn (11.30pm)

Saturday 

Bayer Leverkusen v SC Freiburg (6.30pm)

Werder Bremen v Schalke (6.30pm)

Union Berlin v Borussia Monchengladbach (6.30pm)

Eintracht Frankfurt v Wolfsburg (6.30pm)

Fortuna Dusseldof v  Bayern Munich (6.30pm)

RB Leipzig v Cologne (9.30pm)

Sunday

Augsburg v Hertha Berlin (6.30pm)

Hoffenheim v Mainz (9pm)

 

 

 

 

 

Company profile

Name: Back to Games and Boardgame Space

Started: Back to Games (2015); Boardgame Space (Mark Azzam became co-founder in 2017)

Founder: Back to Games (Mr Azzam); Boardgame Space (Mr Azzam and Feras Al Bastaki)

Based: Dubai and Abu Dhabi 

Industry: Back to Games (retail); Boardgame Space (wholesale and distribution) 

Funding: Back to Games: self-funded by Mr Azzam with Dh1.3 million; Mr Azzam invested Dh250,000 in Boardgame Space  

Growth: Back to Games: from 300 products in 2015 to 7,000 in 2019; Boardgame Space: from 34 games in 2017 to 3,500 in 2019

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds  

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

Updated: October 27, 2023, 5:22 AM