For decades, a large part of the GCC's success has been linked to its vast contribution to global energy markets. On Tuesday, the Emirates opened a new chapter in this story, showing just how much the region has changed since its oil reserves were discovered in the first half of the 20th century.
The UAE's Barakah facility, the Arab world's only nuclear energy plant, is now producing a steady stream of electricity at its 1400-megawatt Unit 1. This is the first of four sections, with the second set to open later this year. Building at the remaining two is 94 and 89 per cent complete respectively. When the $25 billion project, which was launched in 2008, is fully operational, it will begin a lifespan of at least 60 years, producing a quarter of the country's energy.
The plant's opening is the latest in a series of scientific achievements for the Arab world. AFP photo
Barakah has two principles at its core: safety and transparency
Barakah is another in a series of scientific firsts for the Arab world, happening weeks after the UAE's Hope Probe entered the Mars atmosphere in February and Tunisia launched its first domestically made satellite, Challenge-1, in March. This has all happened amid the Covid-19 pandemic, a sign that the region is growing a resilient culture of the pursuit of science.
It is also a success of international co-operation, something that has proven its value time and time again, particularly during the past year. Throughout the project, South Korea has been on hand to lend its expertise through a partnership with the Korea Electric Power Corporation.
The Barakah plant proves that nuclear power has a place in the 21st century, particularly as a means of producing electricity that does not contribute to global warming. When it reaches full capacity, its clean energy will reduce the nation's output of carbon dioxide by 21 million tonnes, a reduction that is equivalent to removing 3.2 million cars from the country's roads.
The project adds a new scientific dimension to the UAE's economic diversification strategy. A nuclear sector is a mark of an advanced nation. Across the world, the most developed states have been harnessing its strategic benefits not just for eco-friendly power, but for a sovereign source of energy that can be used to power submarines, ships and shore up a nation's electricity expenditure at times of market instability. Domestic nuclear capability empowers all citizens. Women represent 40 per cent of the workforce at the UAE's Federal Authority for Nuclear Regulation and young scientists will have a new home to pursue their dreams.
Barakah has two other principles at its core: safety and transparency. Whether protection at the site itself, or protocols to deal with radioactive waste, the facility uses the latest technology to ensure that atomic energy’s benefit is not clouded by risk. It is deemed one of the safest nuclear programmes in the world.
We will save the planet by embracing, not shying away from innovative approaches to the climate crisis. With the Arab world’s first nuclear plant now online, the region is one step closer to a carbon-free future.
SAUDI RESULTS
Team Team Pederson (-40), Team Kyriacou (-39), Team De Roey (-39), Team Mehmet (-37), Team Pace (-36), Team Dimmock (-33)
Individual E. Pederson (-14), S. Kyriacou (-12), A van Dam (-12), L. Galmes (-12), C. Hull (-9), E. Givens (-8),
G. Hall (-8), Ursula Wikstrom (-7), Johanna Gustavsson (-7)
A ancient classical dance from the southern Indian state of Tamil Nadu. Intricate footwork and expressions are used to denote spiritual stories and ideas.
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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
Moral education needed in a 'rapidly changing world'
Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.
Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.
"Moral education touches on every aspect and subject that children engage in.
"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.
"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."
A mark of Chatham House’s influence 100 years on since its founding, was Moscow’s formal declaration last month that it was an “undesirable organisation”.
The depth of knowledge and academics that it drew on following the Ukraine invasion had broadcast Mr Putin’s chicanery.
The institute is more used to accommodating world leaders, with Nelson Mandela, Margaret Thatcher among those helping it provide authoritative commentary on world events.
Chatham House was formally founded as the Royal Institute of International Affairs following the peace conferences of World War One. Its founder, Lionel Curtis, wanted a more scientific examination of international affairs with a transparent exchange of information and ideas.
That arena of debate and analysis was enhanced by the “Chatham House Rule” states that the contents of any meeting can be discussed outside Chatham House but no mention can be made identifying individuals who commented.
This has enabled some candid exchanges on difficult subjects allowing a greater degree of free speech from high-ranking figures.
These meetings are highly valued, so much so that ambassadors reported them in secret diplomatic cables that – when they were revealed in the Wikileaks reporting – were thus found to have broken the rule. However, most speeches are held on the record.
Its research and debate has offered fresh ideas to policymakers enabling them to more coherently address troubling issues from climate change to health and food security.
Kopa Trophy (Best player under 21 – Men’s) Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s) Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year Sarina Wiegman (England)
Bio
Born in Dibba, Sharjah in 1972.
He is the eldest among 11 brothers and sisters.
He was educated in Sharjah schools and is a graduate of UAE University in Al Ain.
He has written poetry for 30 years and has had work published in local newspapers.
He likes all kinds of adventure movies that relate to his work.
His dream is a safe and preserved environment for all humankind.
His favourite book is The Quran, and 'Maze of Innovation and Creativity', written by his brother.
