One does not need to be a computer expert to understand how much of modern life revolves around advanced technology. From autonomous cars and navigation systems to AI-enabled household gadgets and Chat GPT, millions of people are influenced by the digital revolution on a daily basis.
Key to these transformative technologies is what powers them. So important have some small components become that they are subject to export controls and high-level trade negotiations. In the case of today’s powerful microchips, such as those made by US tech manufacturer Nvidia, they sit on government lists alongside other sensitive technologies such as military hardware and advanced lasers.
The indispensability of such crucial technology was once again highlighted on Monday when US tech giant Microsoft announced that amid its plans to invest $15.2 billion in the UAE by 2030, it would be able to obtain licences from the US government to supply the Emirates with thousands of Nvidia graphics processing units.
“Washington doesn't hand out these licences lightly,” Mohammed Soliman, technology analyst and senior fellow at the Middle East Institute, told The National. “It means they're confident in the safeguards, the operator and the bilateral relationship."
Microsoft also feels the UAE is the right place to do business. "This is not money raised in the UAE. It’s money we’re spending in the UAE," said Brad Smith, the company's vice chairman and president. "We’re focused not just on growing our business, but also on contributing to the local economy. This involves bringing together three critical factors – technology, talent and trust."
Such confidence in the Emirates is well placed. This is not just because of the country’s robust relationship with the US but because the UAE is in a special position to harness the power of this technology and push AI innovation to the next stage. There are also wider ramifications to this development that reach beyond what it means for the UAE economy.
The Emirates is an energy and capital-rich country, an early adopter of AI, a major international convener and is well-located at the juncture of several major markets. It has also worked hard to develop a cosmopolitan collection of political and business partnerships with countries, many of them ambitious emerging economies. For example, in July it was reported that Abu Dhabi AI and cloud computing company G42 planned a $2 billion hyperscale data centre in Vietnam’s capital, Ho Chi Minh City. With access to the latest chip technology, the UAE can expand and intensify such collaborations.
Although having access to high-powered components like Nvidia chips carries with it a lot of potential, running powerful AI and computing services comes with its own demands, and the vast amounts of energy consumed by such technology is a key concern.
The Emirates is an energy and capital-rich country, an early adopter of AI and is well-located at the juncture of several major markets
Speaking on the same day as the Microsoft announcement, Dr Sultan Al Jaber, Adnoc's managing director and group chief executive, told the Adipec energy conference in Abu Dhabi about the need for infrastructure to support AI and data centre development. “You simply can’t run tomorrow’s economy on yesterday’s grid,” he said, adding that demand for energy, including new grids and data centres, will require up to $4 trillion in investment annually.
This is no small order, but with the UAE’s increasing access to advanced technology, it is arguable that the country will be in a stronger position to further develop and invest in renewable and sustainable energy.
Most consumers may not be overly concerned with what goes on under the bonnet of their AI-enabled devices and services. Nevertheless, the UAE has reached a landmark moment in which is it acquiring the technological tools to shape the future, not only for itself but for partners and allies across the world.
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
The End of Loneliness
Benedict Wells
Translated from the German by Charlotte Collins
Sceptre
In%20the%20Land%20of%20Saints%20and%20Sinners
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERobert%20Lorenz%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Liam%20Neeson%2C%20Kerry%20Condon%2C%20Jack%20Gleeson%2C%20Ciaran%20Hinds%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3C%2Fp%3E%0A
Global institutions: BlackRock and KKR
US-based BlackRock is the world's largest asset manager, with $5.98 trillion of assets under management as of the end of last year. The New York firm run by Larry Fink provides investment management services to institutional clients and retail investors including governments, sovereign wealth funds, corporations, banks and charitable foundations around the world, through a variety of investment vehicles.
KKR & Co, or Kohlberg Kravis Roberts, is a global private equity and investment firm with around $195 billion of assets as of the end of last year. The New York-based firm, founded by Henry Kravis and George Roberts, invests in multiple alternative asset classes through direct or fund-to-fund investments with a particular focus on infrastructure, technology, healthcare, real estate and energy.
Mobile phone packages comparison
Dubai World Cup factbox
Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)
Most wins by a jockey: Jerry Bailey(4)
Most wins by an owner: Godolphin(9)
Most wins by a horse: Godolphin’s Thunder Snow(2)
The biog
Name: Dhabia Khalifa AlQubaisi
Age: 23
How she spends spare time: Playing with cats at the clinic and feeding them
Inspiration: My father. He’s a hard working man who has been through a lot to provide us with everything we need
Favourite book: Attitude, emotions and the psychology of cats by Dr Nicholes Dodman
Favourit film: 101 Dalmatians - it remind me of my childhood and began my love of dogs
Word of advice: By being patient, good things will come and by staying positive you’ll have the will to continue to love what you're doing
Anti-semitic attacks
The annual report by the Community Security Trust, which advises the Jewish community on security , warned on Thursday that anti-Semitic incidents in Britain had reached a record high.
It found there had been 2,255 anti-Semitic incidents reported in 2021, a rise of 34 per cent from the previous year.
The report detailed the convictions of a number of people for anti-Semitic crimes, including one man who was jailed for setting up a neo-Nazi group which had encouraged “the eradication of Jewish people” and another who had posted anti-Semitic homemade videos on social media.
If you go
The flights Etihad (www.etihad.com) and Spice Jet (www.spicejet.com) fly direct from Abu Dhabi and Dubai to Pune respectively from Dh1,000 return including taxes. Pune airport is 90 minutes away by road.
The hotels A stay at Atmantan Wellness Resort (www.atmantan.com) costs from Rs24,000 (Dh1,235) per night, including taxes, consultations, meals and a treatment package.
Scoreline
Saudi Arabia 1-0 Japan
Saudi Arabia Al Muwallad 63’
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Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
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Teaching in coronavirus times
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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
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Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Scores:
Day 4
England 290 & 346
Sri Lanka 336 & 226-7 (target 301)
Sri Lanka require another 75 runs with three wickets remaining
The Kingfisher Secret
Anonymous, Penguin Books
