Egypt is proud of its relationship with the UAE and the two countries are like one nation, President Abdel Fattah El Sisi told officials and ministers in Cairo at a gathering to mark 50 years of Emirati-Egyptian relations.
“We are proud of the relationship between the UAE and Egypt beginning with Sheikh Zayed — who famously said 'Arab Petrol is not more valuable than Arab Blood',” Mr El Sisi said in a recorded message played to delegates.
“The relationship is unique and builds not only on brotherly ties but the understanding of [the] current situation of the Mena region and the world and the reinforcement of mutual interests.
“The continued positions from the great founder, Zayed, in his support of the country during the difficult periods that Egypt went through cemented the relationship and deepened ties. The two nations and their people are like one nation.”
He was speaking to hundreds of delegates from both countries who have gathered for a full day of sessions and discussions on politics, environment, culture and economic cooperation.
Ties between the UAE and Egypt run deep and go back to the time before the formation of the UAE under the Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan.
On Wednesday, UAE President Sheikh Mohamed wrote on Twitter of his pride at the milestone.
"We are very proud to celebrate 50 years of friendship and co-operation between the UAE and Egypt," he said. "Together with my brother, President Abdel Fattah El Sisi, we continue to strengthen and build upon these longstanding ties for the long-term benefit of our people and the region."
Minister of Cabinet Affairs Mohammed Al Gergawi echoed Mr El Sisi's earlier sentiments.
“We consider Egypt’s security to be the UAE’s security and its development and stability that of the UAE and all Arabs,” he said.
“This celebration is an occasion to talk about Arab-Arab relations, not out of criticism but to talk about the potential of these relationships.
“The model of relations between the UAE and Egypt reflected in the comprehensive social and political ties is something we should look up to and the potential that can be unlocked by other nations if their ties were well managed.”
Touching on the Arab League summit scheduled for November 1 in Algeria, Mr Al Gergawi said that international events impose “more co-operation on us as Arabs”, and force a “unity of positions”.
He said the summit would being the region closer together.
Egyptian Prime Minister Mostafa Madbouly thanked the UAE for its long-standing support.
“The UAE took pre-emptive steps to support neighbouring countries during turbulent times including the Covid pandemic and the war in Ukraine,” he said.
“Economic and trade ties between the two countries increased in recent years in investments and Emirati companies operating in Egypt. The UAE is the number one country in foreign direct investments, representing 29 per cent of foreign investments in Egypt.”
“Emirati-Egyptian relations present a successful model of bilateral ties between countries and in our Arab region, specifically,” Mr Al Gergawi said.
“These ties were built on complementary and mutual support and reinforcing common interests.”
Last year alone, trade of non-oil commodities between the two nations reached Dh27.8 billion and Dh14.1 billion in the first half of this year.
Economic talks were also launched on the sidelines of the three-day event, to discuss the current investment landscape in Egypt and opportunities for the UAE. The UAE is the number one direct investor in Egypt at $16bn.
“The organisation of this special event on Egyptian soil in the presence of ministers and prominent members of government from the two countries as well as businessmen, investors and entrepreneurs, is a message of love, appreciation and pride in the brotherly ties between the two countries,” Mr Al Gergawi said.
At Investopedia, the global investment platform, discussions focused on investments in finance, healthcare and the pharmaceutical sectors as well as sustainable manufacturing and energy and water.
“In conjunction with the celebration of the 50th anniversary of the establishment of relations between the two countries, we look forward to upgrading the bilateral cooperation relations to more momentous levels in a way that supports the economic development process of the two countries in a sustainable manner,” said Abdulla bin Touq, UAE Minister of Economy and chairman of Investopedia.
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
Rebel%20Moon%20-%20Part%20One%3A%20A%20Child%20of%20Fire
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EZack%20Snyder%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ESofia%20Boutella%2C%20Djimon%20Hounsou%2C%20Ed%20Skrein%2C%20Michiel%20Huisman%2C%20Charlie%20Hunnam%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3C%2Fp%3E%0A
Day 5, Dubai Test: At a glance
Moment of the day Given the problems Sri Lanka have had in recent times, it was apt the winning catch was taken by Dinesh Chandimal. He is one of seven different captains Sri Lanka have had in just the past two years. He leads in understated fashion, but by example. His century in the first innings of this series set the shock win in motion.
Stat of the day This was the ninth Test Pakistan have lost in their past 11 matches, a run that started when they lost the final match of their three-Test series against West Indies in Sharjah last year. They have not drawn a match in almost two years and 19 matches, since they were held by England at the Zayed Cricket Stadium in Abu Dhabi in 2015.
The verdict Mickey Arthur basically acknowledged he had erred by basing Pakistan’s gameplan around three seam bowlers and asking for pitches with plenty of grass in Abu Dhabi and Sharjah. Why would Pakistan want to change the method that has treated them so well on these grounds in the past 10 years? It is unlikely Misbah-ul-Haq would have made the same mistake.
Results
5pm: Warsan Lake – Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Dhaw Al Reef, Sam Hitchcott (jockey), Abdallah Al Hammadi (trainer)
5.30pm: Al Quadra Lake – Maiden (PA) Dh80,000 (T) 1,600m; Winner: Mrouwah Al Gharbia, Sando Paiva, Abubakar Daud
6pm: Hatta Lake – Handicap (PA) Dh80,000 (T) 1,600m; Winner: AF Yatroq, George Buckell, Ernst Oertel
6.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,600m; Winner: Ashton Tourettes, Adries de Vries, Ibrahim Aseel
7pm: Abu Dhabi Championship – Listed (PA) Dh180,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami
7.30pm: Zakher Lake – Rated Conditions (TB) Dh80,000 (T) 1,400m; Winner: Alfareeq, Dane O’Neill, Musabah Al Muhairi.
The Outsider
Stephen King, Penguin
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
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
Fixtures
Opening day Premier League fixtures for August 9-11
August 9
Liverpool v Norwich 11pm
August 10
West Ham v Man City 3.30pm
Bournemouth v Sheffield Utd 6pm
Burnley v Southampton 6pm
C Palace v Everton 6pm
Leicester v Wolves 6pm
Watford v Brighton 6pm
Tottenham v Aston Villa 8.30pm
August 11
Newcastle v Arsenal 5pm
Man United v Chelsea 7.30pm
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Sri Lanka-India Test series schedule
- 1st Test India won by 304 runs at Galle
- 2nd Test Thursday-Monday at Colombo
- 3rd Test August 12-16 at Pallekele
