Latest:
Passengers have stepped on board the UAE’s first high-speed electric sky pod for the first time.
The four-seater UCar takes less than a minute to travel the 400-metre test track at the Sharjah Research, Technology and Innovation Park.
It does so smoothly and efficiently at speeds approaching 50 kilometres per hour during tests.
The National was given an exclusive tour on the pod system on Sunday.
We are now riding into the future with this system
Its developers, uSky Transport and Unitsky String Technologies of Belarus, will take development to a bigger test track by November, before constructing a permanent commercial line.
Longer tracks using super-strong string rail technology will have capacity to operate at up to 500kph, transporting cargo and passengers between key points across cities.
“We are now riding the future with this system,” said Oleg Zaretskiy, chief executive of uSky Transport.
“We have had great interest from all over the world, but primarily in the UAE with some prominent developers here."
The alternative transport system offers safety, comfort and affordability, he said.
“The first commercial project will be available in the UAE by September 2023, with construction due to begin very soon," Mr Zaretskiy said.
The elevated system was designed in Minsk by Dr Anatoli Unitsky, a scientist and member of the Russian Cosmonautics Federation.
A cargo version would be capable of delivering 12-metre containers at high speed, which could take heavy goods vehicles off roads and into the sky.
Points across a network of suspended steel cables will deliver hubs for residential or office space, all connected by high-tensile steel wire.
Pods move independently, rather than on a conventional pulley system of a cable car that limits speed to around 12-15kph.
The technology provides high-speed intercity travel at a fraction of the cost of other regular transport systems, at less than $200 a metre, the company claims.
The company has 600 engineers operating a test site in Belarus at the Echotechnopark in Maryina Gorka, where a further five 800-metre tracks are in operation.
A longer test track in Sharjah will stretch across 2.4km, with eight interspaced steel support structures and concrete structures acting as anchors at each end.
The cost of construction largely depends on terrain and eventual passenger flow across a completed network.
Mr Zaretskiy said a passenger line is likely to be built ahead before a cargo service.
“It gives us an advantage to compete with other transport systems, as it will be more financially viable,” he said.
There system has enormous potential, Mr Zaretskiy said.
"The UAE is our base. It is the most promising country for our technology and we have a lot of support in Sharjah.
“It is not just a transport system but an ecological solution to a world already congested with traffic.
The pods' carbon footprint is also lower than regular rail travel, with electric emergency batteries partially powered by renewable energy.
Feasibility studies into cargo costs along a network have been estimated at $1 per 100 tonnes for every kilometre travelled.
Dzianis Yunitski, managing director of uSky Transport, whose father Dr Unitsky developed the system, said the prototype track was the culmination of decades of research.
"This makes us all very proud, we have all worked very hard alongside my father towards making this project a reality," he said.
"My father trusted his research and has so many other ideas to improve global transport.
“From the very beginning we had faith that this would one day happen.”
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
TO ALL THE BOYS: ALWAYS AND FOREVER
Directed by: Michael Fimognari
Starring: Lana Condor and Noah Centineo
Two stars
Race 3
Produced: Salman Khan Films and Tips Films
Director: Remo D’Souza
Cast: Salman Khan, Anil Kapoor, Jacqueline Fernandez, Bobby Deol, Daisy Shah, Saqib Salem
Rating: 2.5 stars
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Empty Words
By Mario Levrero
(Coffee House Press)
THE SPECS
Cadillac XT6 2020 Premium Luxury
Engine: 3.6L V-6
Transmission: nine-speed automatic
Power: 310hp
Torque: 367Nm
Price: Dh280,000
Racecard
6pm: Mina Hamriya – Handicap (TB) $75,000 (Dirt) 1,400m
6.35pm: Al Wasl Stakes – Conditions (TB) $60,000 (Turf) 1,200m
7.10pm: UAE Oaks – Group 3 (TB) $150,000 (D) 1,900m
7.45pm: Blue Point Sprint – Group 2 (TB) $180,000 (T) 1,000m
8.20pm: Nad Al Sheba Trophy – Group 3 (TB) $200,000 (T) 2,810m
8.55pm: Mina Rashid – Handicap (TB) $80,000 (T) 1,600m
UAE currency: the story behind the money in your pockets
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
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
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid