As an environmental scientist and a diplomat who represented Canada across the globe, I have always been focused on the policies that countries deploy to deal with complex environmental issues, both domestically and internationally.
I applaud the recent decision by the UAE to achieve a net-zero economy by 2050. This a bold statement of leadership that sends a clear message to the world a few weeks away from Cop26 in Glasgow.
That being said, I am not surprised to see the UAE being the first Gulf economy to take on this commitment, given its track record of delivering on ambitious targets, as demonstrated in the success of the UAE mission to Mars earlier this year. The challenges will be enormous for a resource-based economy dealing with a harsh climate.
My country, Canada, also knows a thing or two about being a resource-based economy dealing with a harsh climate and aiming to achieve net zero. The Parliament of Canada adopted the Canadian Net-Zero Emissions Accountability Act in June 2021. The Act hold this and future governments accountable for emissions reductions to address climate change and achieve net-zero emissions by or before 2050. The Government of Canada has also established a $3 billion Net-Zero Accelerator Fund to help large emitters achieve their emissions reductions.
There are enormous opportunities for collaboration as we both aim to decarbonise and electrify our economies, as well as reduce emissions from our natural resources sectors. Our future collaboration means opportunities for knowledge and technology transfers, joint R&D and the development of demonstration projects. I see clear opportunities for collaboration between Canada and the UAE in several areas.
There are enormous opportunities for collaboration as we both aim to decarbonise our economies
Energy efficiency is where the low hanging fruit usually is, with savings that often pay for themselves. Canadian companies are working on contracts to help commercial buildings in the Emirates reduce energy consumption by up to 30 per cent without any expensive hardware, and to help them remain cool in the summer months while doing so. There is room for so much more as we quickly scale up energy efficiency projects.
The discussion on hydrogen as a key ingredient of the energy transition has also picked up in both countries in the past year. Canada is a leader in the development of hydrogen fuel cells. In December of last year, Canada released a national hydrogen strategy to develop the low-carbon hydrogen value chain, from hydrogen production through to storage and transport technology, as well as end-use applications. Canada is currently home to the largest green hydrogen plant in the world today, an Air Liquide facility in Quebec, which has 20 MW of electrolyzing capability.
In the UAE, the Abu Dhabi Hydrogen Alliance is leading the way in the development of both blue and green hydrogen. New partnerships have been established between Canada and the UAE and I expect to see many trade and investment opportunities arise in this area.
Nonetheless, it is important to note that even as we decarbonise, there will remain a role for hydrocarbons during the transition period and beyond. We need to find a way to monitor and reduce emissions from oil & gas throughout the supply chain. Canada is the global leader in producing clean hydrocarbons from source to end use thanks to the work of groups like the Clean Resources Innovation Network, and will be well-positioned for knowledge share its knowledge and experience.
I also see opportunities for R&D collaboration in the area of carbon capture, storage and utilisation (CCUS). CCUS involves the capture of CO2 from oil & gas, industrial or power sources or directly from the atmosphere. The CO2 is then either stored permanently underground or used to create products such as concrete and low-carbon synthetic fuels. Canada has used CCUS for many years and has identified this as a key driver toward our net-zero objectives.
Climate Change is a real emergency, and we need to act now. We will only succeed in reaching our goal by working together internationally so that solutions can be developed and scaled faster than ever before.
Canada will use its presence at Expo 2020 Dubai to advance the collaboration with the UAE in the area of climate change and net zero as our theme at Expo2020, “The Future in Mind”, aligns perfectly with one of the greatest challenges of our times: addressing climate change.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
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.
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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Gulf Under 19s final
Dubai College A 50-12 Dubai College B
MATCH INFO
Manchester City 1 (Gundogan 56')
Shakhtar Donetsk 1 (Solomon 69')
Key recommendations
- Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
- Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
- Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
- More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
Profile
Company name: Jaib
Started: January 2018
Co-founders: Fouad Jeryes and Sinan Taifour
Based: Jordan
Sector: FinTech
Total transactions: over $800,000 since January, 2018
Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups
Russia's Muslim Heartlands
Dominic Rubin, Oxford
Match info:
Real Betis v Sevilla, 10.45pm (UAE)
MATCH INFO
Real Madrid 2 (Benzema 13', Kroos 28')
Barcelona 1 (Mingueza 60')
Red card: Casemiro (Real Madrid)
World Cup League Two
Results
Oman beat Nepal by 18 runs
Oman beat United States by six wickets
Nepal beat United States by 35 runs
Oman beat Nepal by eight wickets
Fixtures
Tuesday, Oman v United States
Wednesday, Nepal v United States
Third Test
Result: India won by 203 runs
Series: England lead five-match series 2-1
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Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
The specs
Engine: 6.2-litre V8
Power: 502hp at 7,600rpm
Torque: 637Nm at 5,150rpm
Transmission: 8-speed dual-clutch auto
Price: from Dh317,671
On sale: now
