Rising carbon emissions is one of the greatest challenges facing our planet today, as world leaders have made apparent at the ongoing Cop27 climate summit. Related to that is the fact that energy security is also a pressing concern. And there are several complex factors that affect energy security. Access is, of course, an important one, but there are many others that have a notable effect – namely, geopolitics, security of trade flows and lack of diversity of energy sources. Replacing the fossil-fuel infrastructure is no easy feat; nor can we expect a smooth transition to a more diversified mix - focused on renewables, overnight. This would require consistent support from several stakeholders across the public and private sectors and is also reliant on significant investment.
Despite increased efforts by governments around the world, energy-related carbon emissions rose by 6 per cent last year to 36.3bn tonnes – their highest-ever level, according to analysis by the International Energy Association. This has triggered a global re-evaluation of energy creation and delivery, in addition to a reassessment of the most effective ways to finance such projects given the reduction in credit opportunities as a result of the financial downturn.
The Covid-19 outbreak, moreover, highlighted the extent to which fates are intertwined; local and regional problems often have global effects. And this is where the power of investors – not just banks or the ultra-wealthy, but ordinary, retail investors – becomes very evident.
Previously seen as a last resort for entrepreneurs trying to raise capital, crowdinvesting – a form of crowdfunding regulated in many countries, in which those giving money have a clearly defined stake in the profits – has now emerged as a viable and important alternative financing source following destabilisation in parts of the global financial sector in the aftermath of the pandemic. At the same time, we have also witnessed a paradigm shift towards cleaner and more accessible energy generation.
We have witnessed a paradigm shift towards cleaner and more accessible energy generation
The global crowdfunding market is estimated to reach $43.5 billion by 2028, up from $17.4bn in 2021. And around $136 million was raised through crowdfunding between 2015 and 2020 for companies and projects that deal with energy access.
When it comes to crowdinvesting, inclusion and equality are among its core tenets. Anyone who believes in the potential of a technology, or a cause, can support it – and in doing so can make a meaningful contribution to vital fields, such as clean energy. It is also a powerful communication tool which allows full transparency and open communication around project financing and delivery, reinforcing its potential as a source of empowerment. In the energy sector, investors and users become one and the same – shifting from a top-down model to a decentralised one that better serves the interests of citizens, communities and local businesses alike.
While there are clear advantages to the crowdinvesting of clean energy projects, there are also challenges - one being the inherent difficulties of the mechanism itself, namely that the project owners must convince a wide range of people about its clear benefits.
But there are many types of energy projects that could benefit from this model; small-to-mid-sized community projects that focus on new-build power generation sites, such as solar photovoltaic PV parks, are a worthy example. A recent successful case study that shows the power of crowdinvesting is Olam Cocoa – a leading originator of cocoa beans in Ghana. Through "ecoligo", an impact investment provider and leader in revolutionising the energy landscape in emerging markets, the firm was able to generate $400,000 in just 25 hours. The funds will be used to develop a 1.5 megawatt peak solar plant that will support in the cultivation of cocoa beans.
Another critical aspect of crowdinvesting is that it is important that success is shared. The European Commission, for example, has long identified the potential of crowdfunding to support the growth of SMEs, naming it as an important financing tool in a 2015 paper. One of the clear benefits is that it can reduce the administrative burden placed on SMEs. While crowdinvesting allows individuals and communities alike to play a greater role in ensuring their own futures, this would not be possible without the involvement of dedicated partners, whose ultimate objective goes far beyond developing infrastructure and generating energy; but rather, extends to meaningful development in the communities in which they operate.
Fotowatio Renewable Ventures, part of Abdul Latif Jameel Energy, is one such example. FRV is dedicated to identifying and investing in operators that have built software products that can enhance the way that renewable generation and storage assets perform. As a form of alternative financing, crowdinvesting also promotes innovation, research and development at a grassroots level, supporting businesses and ideas that would ordinarily struggle to raise funding from traditional financial market sources. This can have a profound effect on societal and economic development.
Ultimately, crowdinvesting is a relatively new financing mechanism that places the responsibility of driving the energy transition with local communities. This empowers individuals and communities alike to play an active role in ensuring a sustainable future for generations to come. The channel has the potential to be a key driver of inclusion and innovation in the field of clean energy, and these values are at the very heart of the world’s energy transition. It is apt that the means of financing such projects should also reflect the world that we are trying to create through clean energy projects.
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
