In the run-up to the UAE’s hosting of the United Nations Cop28 climate change conference, Abu Dhabi Sustainability Week (ADSW) this year launched ADSW Talks, where leading sustainability figures share their perspectives on the most pressing sustainability challenges.
The digital talk series has interviewed local and international sustainability influencers, including UAE Minister of Climate Change and Environment Her Excellency Mariam bint Mohammed Saeed Hareb Almheiri and former Armenian President His Excellency Armen Sarkissian.
Most recently, ADSW Talks featured Francesco La Camera, Director-General of the International Renewable Energy Agency (Irena), who discussed the UAE’s sustainability leadership, Cop27 and Cop28, and the technologies and innovations needed to achieve the Paris Agreement goals.
The UAE “is making history” through its leadership in the global energy transition, said La Camera. “The UAE is supporting climate action through action. In this country, we have 70 percent of the renewables in the Gulf region. It is a matter of fact that the UAE is leading the process, where the intention is not just to unplug the old system but to build the new one. The biggest renewable plants are here, [as well as] experiments and pilot studies in green hydrogen. They have already started to export ammonia to the east part of the world, so they are leading by example.”
Regarding the two upcoming Cops, La Camera added: “The Cop27 in Egypt will be a very important one and I think the countries are already working together. The Egyptian one will be the African Cop. And the Cop28 will be the one with the West talking to the East, and the North talking to the South. I am really proud that we are starting to collaborate strongly with the UAE and I think it will be a very important next two years to show the UAE’s [sustainable leadership].”
I see the agency moving from one angle of tackling the energy transition topic, to one of 360 degrees, from knowledge, planning, projects, implementation, and monitoring, and again, in a circle, to make it as the 360-degree agency.
Francesco La Camera,
Director-General of IRENA
The next edition of ADSW hosted by Masdar is set to take place on January 14-21, 2023. Paving the way for Cop28, the week-long sustainability-focused event will unite the global community’s efforts toward net-zero and an inclusive energy transition.
Regarding future trends and needs for sustainable energy, he explained that the renewable energy technologies needed to achieve the Paris Agreement goals were already available, and only a bit more innovation was required to make those technologies more effective.
“Technology innovation is a very important aspect of our work. We made very clear in our most recent World Energy Transition Outlook 2022 that the two main drivers in the energy transition are the electrification of the energy system and energy efficiency, so reducing the demand. The technologies that are enabling this transition are renewables, so the new system will be dominated by renewables and complimented by hydrogen, mainly green hydrogen, and sustainable biomass,” La Camera said.
When asked about his goals for his time at Irena, La Camera said: “The goal that I want to achieve with the agency is to use [its] unique knowledge capacity to support countries in all aspects of their planning, so we can transfer the knowledge to planning, and try to link the planning to the projects and the monitoring of the results. I see the agency moving from one angle of tackling the energy transition topic, to one of 360 degrees, from knowledge, planning, projects, implementation, and monitoring, and again, in a circle, to make it as the 360-degree agency.”
La Camera is an Italian civil servant, academic, and diplomat. He was elected as the director-general of Irena in April 2019. Before joining Irena, La Camera served as director-general of the office of Sustainable Development, Environmental Damage, European Union, and International Affairs at the Italian Ministry of Environment, Land, and Sea.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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How to watch Ireland v Pakistan in UAE
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.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
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One-off T20 International: UAE v Australia
When: Monday, October 22, 2pm start
Where: Abu Dhabi Cricket, Oval 1
Tickets: Admission is free
Australia squad: Aaron Finch (captain), Mitch Marsh, Alex Carey, Ashton Agar, Nathan Coulter-Nile, Chris Lynn, Nathan Lyon, Glenn Maxwell, Ben McDermott, Darcy Short, Billy Stanlake, Mitchell Starc, Andrew Tye, Adam Zampa, Peter Siddle
Andor
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In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
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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
Mina Cup winners
Under 12 – Minerva Academy
Under 14 – Unam Pumas
Under 16 – Fursan Hispania
Under 18 – Madenat
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
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RESULT
Al Hilal 4 Persepolis 0
Khribin (31', 54', 89'), Al Shahrani 40'
Red card: Otayf (Al Hilal, 49')
HAJJAN
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