It's all go in Saudi Arabia this week as the first excavation takes places at AlUla's Sharaan Resort and Nujuma, a new hotel within the Red Sea project, opens for (eye-watering) bookings.
In the US, Boom Supersonic has completed its first successful test flight and a Dubai beach has been named the eighth best in the world.
Here's a round-up of recent travel and tourism news – in case you missed it.
Nujuma, a Ritz-Carlton Reserve open for bookings in Saudi Arabia
With a little over a month to go until it welcomes guests for the first time in May, the ultra-luxury resort is now open for bookings.
Nujuma is one of only six Ritz-Carlton reserves in the world, and the first in the Middle East. Part of the kingdom's Red Sea Project on the west coast of the country, it will offer Maldivian-style overwater villas and will be one of the most expensive hotels in Saudi Arabia.
Located on its own private island and accessible only via charter boat or seaplane from the recently-opened Red Sea International Airport, the hotel commands overnight rates starting at 9,250SAR ($2,466) in low season.
For that price, travellers can enjoy accommodation in 63 one- to four-bedroom water and beach villas, complemented by a Neyrah spa, swimming pools, multiple culinary venues, a retail area and a range of other leisure facilities.
The Red Sea project is surrounded by the world's fourth-largest barrier reef system and spans over 28,000 square kilometres with an archipelago of more than 90 untouched islands. Experts at Galaxea Diving Centre in Nujuma will help travellers make the most of this natural wonder on excursions. Conservation House will be a place for travellers to connect with the culture of Saudi Arabia and learn more about the destinations' community and environments via hands-on activities.
The reserve is the second Marriott International hotel to open as part of the Red Sea Project this year, following the launch of The St Regis Red Sea Resort on Ummahat Island in January.
Supersonic Boom's Overture takes flight in California
The world’s fastest passenger aircraft took flight for the first time on Friday.
Two decades on from the retirement of Concorde, the first test flight of Boom Supersonics' Overture – a streamlined jet that will whisk passengers from New York to London in 3.5 hours – has taken to the skies.
Departing from the Mojave Air & Space Port in California, from where the Bell X-1 first broke the sound barrier in 1947, flight XB-1 flew for 12 minutes, reaching an altitude of 7,120 feet at speeds of up to 238 knots (440 kph).
It is a step forward for the US-based company's mission to launch Overture, the first supersonic commercial aircraft since Concorde ended operations 20 years ago.
The demonstration jet is about a third of the size of what the final aircraft will be, but uses the same technology. Advanced avionics, digitally optimised aerodynamics and a supersonic propulsion system will allow Overture, which can accommodate up to 80 passengers, to fly almost twice as fast as today’s subsonic airlines.
Boom said the jet’s test flight “paves the way for a revival of mainstream supersonic travel”. The US company has already received 130 pre-orders for the aircraft, with American Airlines, United Airlines and Japan Airlines among them.
While Overture is designed to be less harmful to the environment than today's commercial aircraft, and can operate on up to 100 per cent sustainable aviation fuel, there is currently a global shortage of that fuel, which could pose problems.
Emirates celebrates Holi with a paint-splattered A380
Emirates is getting in on the act of celebrating the Hindu festival of colour with a paint-covered plane.
Wishing travellers a Happy Holi, the Dubai airline posted a picture of one of its A380 superjumbos covered in pink, red, yellow, green and blue powder. “We’re adding a splash of colour to the skies,” read the caption under the Instagram post which has amassed nearly 80,000 likes.
Holi is celebrated around the world, typically marked by raucous parties where people throw and smear coloured powder on each other. The festival, the celebrations for which begin on March 25 in many parts of India, signifies the arrival of spring and, for many Hindus, the triumph of good over evil. Held in March on the full moon night known as Phalgun Purnima in the Hindu calendar, the date changes slightly every year.
JBR Beach in Dubai named one of the world's best
A beach in Dubai has been ranked as one of the best in the world in a new survey.
Beach Atlas, a UK-based company known for its guides around the world, has unveiled its Golden Beach Awards for 2024. It ranks the top 100 shorelines and includes JBR Beach at number eight.
The Dubai tourist attraction is lauded for its golden sands and clear waters, plus the range of leisure activities, shops and eateries available alongside its bustling promenade.
Topping the list as the best in the world is Bora Bora beach in French Polynesia. The pristine shoreline was lauded for its beauty, natural diversity and cultural significance. Second-placed Boulder Beach in South Africa is noted for its thriving penguin community, while Hawaii’s Waikiki Beach ranks third with importance given to its indigenous heritage.
The world’s fourth best beach is Brazil’s renowned Copacabana and Maya Bay in Thailand, made famous in Leonardo DiCaprio’s The Beach and recently reopened after a beautification project, is fifth.
Iceland’s Black Sand Beach – the only dark grained shore in the list – is ranked sixth and Glass Beach in California, lauded for its jewel-like pebbles, is seventh.
Rounding up the top ten are Skeleton Coast in Namibia and the historic Omaha Beach in France. Despite stunning shorelines across the UAE – from Abu Dhabi’s Saadiyat Island with its golden sands and marine life to Fujairah’s sparkling coastlines – no other beaches in the UAE made the list.
World’s longest infinity pool to open in Saudi Arabia
Saudi Arabia’s futuristic mega city, Neom, has announced a mammoth new lagoon resort.
Treyam will open across a lagoon at the southern end of the Gulf of Aqaba and will be home to the world’s longest infinity pool. With desert and coastal landscapes, the sprawling resort will have a high performance sports hub and luxury spa.
A futuristic bridge will connect the southern and northern shores of the resort, on the roof of which will be a 450-metre sky pool lined with sand and palm trees. Hovering 36 metres above sea level, it will be the best place to take in views of the district, its turquoise lagoons and uninterrupted waters.
The resort is expected to be a hit with adventure travellers thanks to sailing, diving, watersports and land-based activities on offer, including hiking and trekking. Technology-enhanced wellness offerings are also on the menu alongside fine dining restaurants.
Treyam is located less than an hour east of The Line, Saudi Arabia’s linear smart city, making it the closest destination to the urban city.
UK passport fees to rise in April
Travellers from the UK with passports close to expiry are being encouraged to apply early for replacements. That's because the current fees will rise by seven per cent in April. Adult passports will cost £88.50 when the new fees are applied on April 11. That's an increase of £6 from the current price. Children will also pay more, with new applications costing £57.50, up from £53.50.
Premium services that allow UK travellers to obtain a new passport on the same day as they apply in person will cost more than £200 when the new fees come into force. Travellers applying for UK passports from the UAE will pay the same fees as those applying in the UK, with an additional £19.86 courier fee.
It's the second year in a row that UK passport fees have risen and the changes apply to renewals and new applications. A rule change introduced in 2018 means that validity left on existing passports is no longer added to the expiry date of new passports.
Saudi Arabia’s mountain hotel in AlUla takes shape
The first rock excavations at AlUla’s Sharaan Resort and Nature Reserve have taken place in Saudi Arabia.
Set inside an ancient rock face, the hotel's inaugural excavation on Monday marks a step forward in the destination's objective to become the region's premier destination for sustainable luxury tourism.
Set in the mountains, Sharaan Resort is being designed by French architect Jean Nouvel, who was responsible for Louvre Abu Dhabi. Its design is inspired by the nearby Nabataean wonders of Hegra, Saudi Arabia’s first Unesco World Heritage Site, and pays tribute to a 2,000-year-old architectural heritage.
“The Sharaan Resort is our most ambitious project yet,” said chief development and construction officer Ben Hudson. “This initial excavation is tangible evidence of our continued efforts to develop AlUla into a premier destination that harmonises luxury tourism with the preservation of unique cultural and natural heritage.”
Set inside the 925-square kilometre Sharaan Nature Reserve, the resort comprises 38 suites, a spa and wellness centre, kids club, sport studio, all-day dining restaurant and business hub. In addition, a signature fine-dining restaurant will sit on top of the mountain with panoramic views of Sharaan, while a glass lift will connect the rest of the resort.
The resort is being constructed using the ancient Nabataean practice of creating spaces within rock and part of the project’s uniqueness lies in having excavated areas one on top of the other. A completion date for the resort has not yet been revealed.
GOLF’S RAHMBO
- 5 wins in 22 months as pro
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Groom and Two Brides
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Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Russia's Muslim Heartlands
Dominic Rubin, Oxford
EPL's youngest
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- Max Dowman (Arsenal)
15 years, 235 days old
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15 years, 271 days old
- Harvey Elliott (Fulham)
16 years, 30 days old
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16 years, 68 days old
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 435hp at 5,900rpm
Torque: 520Nm at 1,800-5,500rpm
Transmission: 9-speed auto
Price: from Dh498,542
On sale: now
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Andor
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Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
RESULT
Esperance de Tunis 1 Guadalajara 1
(Esperance won 6-5 on penalties)
Esperance: Belaili 38’
Guadalajara: Sandoval 5’
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The specs
Engine: 5.0-litre supercharged V8
Transmission: Eight-speed auto
Power: 575bhp
Torque: 700Nm
Price: Dh554,000
On sale: now
FIGHT%20CARD
%3Cp%3EAnthony%20Joshua%20v%20Otto%20Wallin%2C%2012%20rounds%2C%20heavyweight%3C%2Fp%3E%0A%3Cp%3EDeontay%20Wilder%20v%20Joseph%20Parker%2C%2012%20rounds%2C%20heavyweight%3C%2Fp%3E%0A%3Cp%3EDmitry%20Bivol%20v%20Lyndon%20Arthur%2C%2012%20rounds%2C%20light%20heavyweight%3C%2Fp%3E%0A%3Cp%3EDaniel%20Dubois%20v%20Jarrell%20Miller%2C%2012%20rounds%2C%20heavyweight%3C%2Fp%3E%0A%3Cp%3EFilip%20Hrgovic%20v%20Mark%20de%20Mori%2C%2012%20rounds%2C%20heavyweight%C2%A0%3C%2Fp%3E%0A%3Cp%3EArslanbek%20Makhmudov%20v%20Agit%20Kabayel%2C%2012%20rounds%2C%20heavyweight%C2%A0%3C%2Fp%3E%0A%3Cp%3EFrank%20Sanchez%20v%20Junior%20Fa%2C%2012%20rounds%2C%20heavyweight%C2%A0%3C%2Fp%3E%0A%3Cp%3EJai%20Opetaia%20v%20Ellis%20Zorro%2C%2012%20rounds%2C%20cruiserweight%3C%2Fp%3E%0A
Global state-owned investor ranking by size
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1.
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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Canada
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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
Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
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When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
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General%20Classification
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Stamp%20duty%20timeline
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Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
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