Twitter is on a mission to become the world’s “most accurate real-time information source and a global town square for communication”, the social media platform’s new chief executive has said.
“That’s not an empty promise,” Linda Yaccarino, previously the head of advertising at NBC Universal, said in a tweet on Monday.
She began her new role with the social media company on June 6 after taking over from billionaire Elon Musk.
Mr Musk, who took on the role after acquiring the social media platform for $44 billion in October, was asked by a majority of Twitter users to step down as chief executive in a poll he conducted about six months ago.
He said he would spend more time on product design and new technology for the platform while Ms Yaccarino focuses on business operations.
Ms Yaccarino has been given the task of revitalising Twitter’s revenue streams.
Two months after Mr Musk said the company was “breaking even”, Twitter’s advertising revenue in April was down 59 per cent from a year ago, the New York Times reported.
Citing an internal presentation, the Times reported that the microblogging platform had often fallen short of its weekly sales projections.
“Have you ever been talking with someone particularly insightful and thought you should have the freedom to speak your mind? We all should. Enter Twitter 2.0,” Ms Yaccarino tweeted on Monday.
“It’s also becoming clear that the global town square needs transformation – to drive civilisation forward through the unfiltered exchange of information and open dialogue about the things that matter most to us.
“We have the opportunity to reach across aisles, create new partnerships, celebrate new voices, and build something together that can change the world. From what I can tell so far, we’re built for this.”
Ms Yaccarino added that the success of Twitter 2.0 was everyone’s responsibility.
“We need to think big. We need to transform. We need to do it all together,” she tweeted.
“Our first principles are questioning our assumptions and building something new from the ground up.
“It’s rare to have the chance to put a new future into the hands of every person, partner and creator on the planet.
“That’s exactly why I’m here – with all of YOU.”
After acquiring Twitter in October, Mr Musk, who also owns Tesla, made a series of changes during a turbulent time for the company.
Within the first two weeks, he laid off half of the company’s staff and fired former chief executive Parag Agrawal, as well as other senior leaders in the company.
The billionaire businessman had previously complained of working long hours as the boss at Twitter and other companies.
His ownership of the social media platform has also been criticised over changes including paid subscriptions for verification status, a “For You” newsfeed and the reinstatement of controversial accounts such as that of former US president Donald Trump.
Ms Yaccarino joined NBCUniversal in 2011 after about two decades at Turner Entertainment.
In her role at NBCUniversal, she headed the $70 billion premium video ecosystem and was responsible for overseeing its portfolio of linear networks, digital and streaming platforms, distribution partnerships and client relationships.
Ms Yaccarino oversaw all global, national and local advertising sales, partnerships, marketing, data, measurement and strategic initiatives.
Since joining NBCUniversal, her 2,000-member team generated more than $100 billion in advertising sales, expanded the company’s reach globally, launched the first advertisement-supported streaming service, Peacock, and made massive investments in data and technology capabilities.
She also led partnerships with technology companies such as Apple News, Buzzfeed, Holler, ReachTV, Snapchat, Twitter and YouTube.
Ms Yaccarino also chairs the World Economic Forum's task force on the Future of Work and is also a member of the WEF's Media, Entertainment and Culture Industry Governors Steering Committee.
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The Ashes
Results
First Test, Brisbane: Australia won by 10 wickets
Second Test, Adelaide: Australia won by 120 runs
Third Test, Perth: Australia won by an innings and 41 runs
Fourth Test: Melbourne: Drawn
Fifth Test: Australia won by an innings and 123 runs
LA LIGA FIXTURES
Friday Celta Vigo v Villarreal (midnight kick-off UAE)
Saturday Sevilla v Real Sociedad (4pm), Atletico Madrid v Athletic Bilbao (7.15pm), Granada v Barcelona (9.30pm), Osasuna v Real Madrid (midnight)
Sunday Levante v Eibar (4pm), Cadiz v Alaves (7.15pm), Elche v Getafe (9.30pm), Real Valladolid v Valencia (midnight)
Monday Huesca v Real Betis (midnight)
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 the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
