Live updates: Follow the latest news on Israel-Gaza
UN Secretary General Antonio Guterres said on Wednesday that Gazans are experiencing an “epic” humanitarian crisis, as calls for a lasting ceasefire grow during the temporary truce between Israel and Hamas.
“The people of Gaza are in the midst of an epic humanitarian catastrophe before the eyes of the world,” said Mr Guterres. “We must not look away.”
The word body has scaled up the delivery of humanitarian aid to Gaza during the truce, but the UN chief said the level of aid “remains completely inadequate to meet the huge needs”.
Mr Guterres welcomed the two-day truce extension arrangement reached by Israel and Hamas with the assistance of the governments of Qatar, Egypt and the US.
“Intense negotiations are taking place to prolong the truce which we strongly welcome but we believe we need a true humanitarian ceasefire,” he said at a UN Security Council meeting led by Chinese Foreign Minister Wang Yi.
The truce has brought a temporary halt to fighting that began on October 7, when Hamas militants poured over the border into Israel, killing 1,200 people, mostly civilians, and kidnapping about 240. Israel's ensuing air and ground campaign in Gaza has killed more than 15,000 people, according to Hamas authorities.
Meanwhile, said Mr Guterres, an estimated 45 per cent of all homes in Gaza have been damaged or destroyed and 80 per cent of civilians in Gaza have been displaced.
Palestinian Foreign Minister Riyad Al Maliki said his people are facing an “existential threat” amid the conflict.
“The massacres cannot be allowed to resume,” he told the UN Security Council. “This is not a war. This is a carnage that nothing and no one can justify.”
He emphasised the importance of enabling the Palestinian people to return to their homes and start the process of rebuilding their lives, while also calling for the lifting of the Israeli-imposed siege.
Mr Wang reiterated his country’s opposition to the collective punishment of people in Gaza as well as the forced transfer and attacking of Palestinian civilians.
He called for increased international and regional diplomatic efforts and the revitalising the political prospects of the two-state solution, adding that the resumption of fighting in the northern enclave could turn into a “calamity that devours the whole region”.
Saudi Foreign Minister Prince Faisal bin Farhan, along with his counterparts from Egypt, Qatar, Jordan, Turkey, Indonesia and Malaysia, called the pause a “small glimmer of hope” which has resulted in much needed aid entering Gaza and the release of some of the hostages.
But, he stressed, the aid that is entering is by “far less than is needed”.
“The danger is if this truce expires … we will return to the killing at the scale that we have seen, which is unbearable,” he said.
The US ambassador to the UN Linda Thomas-Greenfield urged Israel to take “every possible measure to prevent civilian casualties as it exercises right to safeguard its people from acts of terror”.
“We know Hamas continues to use civilians as human shields purposefully cruelly putting Palestinian civilians in harm's way,” she said. “But this does not lessen Israel's responsibility to protect civilians, consistent with international humanitarian law.”
Washington, she added, would like to see “this humanitarian pause extended”.
“Israel has been very clear that it is prepared to continue the pause and fighting for every day that Hamas releases an additional 10 hostages. The ball is now in Hamas’s court, and if Hamas decides not to extend this deal, the responsibility will rest squarely on its shoulders,” she noted.
Khalifa Al Marar, UAE Minister of State, condemned Israel’s collective punishment policies against the Palestinian people, as well as the attempts to displace them.
“The future and the governance of Gaza must remain in the hands of the Palestinian people. Any presumptions or plans that seek to separate the leather strip from the state of Palestine are unacceptable,” the minister told the UN Security Council.
He also stressed the need for the international community to adopt unified rules condemning breaches of international humanitarian law, including the indiscriminate bombing of civilians and UN facilities.
The UAE minister accused Israel of continuing to build and expand its settlement activities, further dividing Palestinian land and violating international law and Security Council resolutions.
“These illegal practices must stop now.”
Smart words at Make Smart Cool
Make Smart Cool is not your usual festival. Dubbed “edutainment” by organisers Najahi Events, Make Smart Cool aims to inspire its youthful target audience through a mix of interactive presentation by social media influencers and a concert finale featuring Example with DJ Wire. Here are some of the speakers sharing their inspiration and experiences on the night.
Prince Ea
With his social media videos accumulating more half a billion views, the American motivational speaker is hot on the college circuit in the US, with talks that focus on the many ways to generate passion and motivation when it comes to learning.
Khalid Al Ameri
The Emirati columnist and presenter is much loved by local youth, with writings and presentations about education, entrepreneurship and family balance. His lectures on career and personal development are sought after by the education and business sector.
Ben Ouattara
Born to an Ivorian father and German mother, the Dubai-based fitness instructor and motivational speaker is all about conquering fears and insecurities. His talk focuses on the need to gain emotional and physical fitness when facing life’s challenges. As well managing his film production company, Ouattara is one of the official ambassadors of Dubai Expo2020.
ETFs explained
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There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.
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
