North Korea fired two ballistic missiles off its east coast, South Korea's military said on Monday, as the powerful sister of leader Kim Jong-un warned the isolated and nuclear-armed state could turn the Pacific into a "firing range".
The launches come just two days after North Korea fired an intercontinental ballistic missile into the sea off Japan's west coast, prompting joint air exercises by the US and South Korea on Sunday.
North Korea's state media confirmed it fired two projectiles from a rocket launcher, aiming at targets 395km and 337km away.
"The 600mm multiple rocket launcher mobilised in the firing … is a means of tactical nuclear weapon", capable of paralysing an enemy airfield, state news agency KCNA said.
Japan's Defence Ministry said the two missiles, fired about 7pm local time, reached a maximum altitude of about 100km and 50km, travelling about 350km to 400km before falling outside Japan's exclusive economic zone.
There were no reports of damage to aircraft or vessels.
The Japanese ministry said it would continue to gather and analyse information in close co-operation with the US.
"North Korea's series of actions, including its repeated ballistic missile launches, threaten the peace and security of Japan, the region and the international community," it said.
"Japan lodged a strong protest and forcefully condemned North Korea."
North Korean leader Kim's sister, Kim Yo-jong, warned against increased the presence of US strategic assets on the Korean Peninsula after the US held joint air exercises with South Korea, then Japan on Sunday.
"We are carefully examining the influence it would exert on the security of our state," Ms Kim said.
"The frequency of using the Pacific as our firing range depends upon the US forces' action character."
She denied experts' assessment of the North's missile capabilities after some said it took more than nine hours for the "sudden" missile launch to take place after an order from Mr Kim.
"We have possessed satisfactory technology and capability, and now will focus on increasing the quantity of their force," she said.
Monday's missile launch is the North's third major weapons test this year after Pyongyang threatened an "unprecedentedly persistent, strong" response as South Korea and the US geared up for their annual military exercises.
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
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
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
