The UK has landed a series of “trade wins” before the third round of negotiations with the Gulf Co-operation Council (GCC), including a £6 million ($7.25 million) boost for honey producers and a female-focused mission in the UAE.
As negotiators sat down for talks in Saudi capital Riyadh, Britain’s Business and Trade Secretary Kemi Badenoch welcomed the early progress in trade relations with Gulf nations as hopes of a £1.6 billion pact increase.
Saudi Arabia has agreed to remove a trade barrier and open up the kingdom’s market to British honey firms in a move valued at £6 million over five years to UK businesses.
Women entrepreneurs in the UAE are the focus of a UK trade mission to Dubai, which aims to help businesswomen build connections British companies.
The GCC — which comprises Saudi Arabia, Bahrain, Kuwait, Qatar, Oman and the UAE — is seeking to capitalise on the UK’s post-Brexit eagerness to strike lucrative trade deals with global partners.
Ms Badenoch painted a positive outlook for negotiations with the GCC, nine months after meetings began. She said such a treaty would support British manufacturers and improve the prospects of the green energy industry.
“I’m very pleased that we’re heading into our third round of negotiations with the GCC,” the government minister and former Conservative Party leadership contender said.
“A free trade deal with the Gulf will strengthen supply chains and grow our food and drink, manufacturing and renewable energy sectors.
“Trade deals like this one open up new opportunities for UK businesses, such as removing even more market access barriers harming UK competitiveness globally, like the one we successfully scrapped preventing UK honey getting into Saudi Arabia.”
Ms Badenoch, widely seen as a rising star among the Tories, was promoted last month in Rishi Sunak’s Cabinet reshuffle. The Prime Minister appointed her to oversee the newly formed Department for Business and Trade, having she had previously managed international trade.
The department said the latest “trade wins” stood to benefit an array of British businesses, including small firms.
Oxfordshire-based Rowse Honey, owned by Valeo Food Group and which represents about 95 per cent of the UK honey market, welcomed the new export market.
“As the UK's leading packer of honeys sourced from the UK and from around the world, we are always looking at ways to develop our business outside our home markets,” said Ian Ainsworth, managing director of Valeo Foods, said. “We are pleased to have played a part in opening market access for UK honey in Saudi Arabia and look forward to developing further the business relationship between both countries into the future.”
British officials in trade, animal and plant health, and food worked with the Saudi Food and Drug Authority to establish a new system which would allow UK producers to register their intention to export to the kingdom.
Progress has also been made to drive exports to Saudi Arabia for UK education and sports companies.
Representatives of 10 schools and 20 sports firms will meet global investors and government ministries in Riyadh this week to discuss the growing business opportunities that Saudi Arabia has to offer.
Women helping women
In the UAE, there will also be an increase in business links with the UK in a partnership for which more than 30 companies have signed up. Freya Rose London, a shoe and jewellery shop based in the upmarket London district of Kensington, is among those taking part.
More than 30 others are participating, including Amazing Jane Activewear, led by Claire Goodliff, its co-chief executive. The free programme will help women entrepreneurs in the UAE get a head-start by accessing coaching from some of the best in the business.
Freya Rose, founder and chief executive of Kensington shop, said: “I feel it is an amazing alignment to participate in the DBT [Department for Business and Trade] Dubai mission, which focuses on empowering women in business, as I'm particularly looking forward to being part of a mission that celebrates some of the most successful women in retail and being inspired by their stories and visions.”
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
KILLING OF QASSEM SULEIMANI
Pearls on a Branch: Oral Tales
Najlaa Khoury, Archipelago Books
Teenage%20Mutant%20Ninja%20Turtles%3A%20Shredder's%20Revenge
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The biog
Favourite films: Casablanca and Lawrence of Arabia
Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins
Favourite dish: Grilled fish
Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.
Book%20Details
%3Cp%3E%3Cem%3EThree%20Centuries%20of%20Travel%20Writing%20by%20Muslim%20Women%3C%2Fem%3E%3Cbr%3E%3Cstrong%3EEditors%3A%20%3C%2Fstrong%3ESiobhan%20Lambert-Hurley%2C%20Daniel%20Majchrowicz%2C%20Sunil%20Sharma%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3EIndiana%20University%20Press%3B%20532%20pages%3Cbr%3E%3C%2Fp%3E%0A
Petrarch: Everywhere a Wanderer
Christopher Celenza,
Reaktion Books
The biog
Favourite colour: Brown
Favourite Movie: Resident Evil
Hobbies: Painting, Cooking, Imitating Voices
Favourite food: Pizza
Trivia: Was the voice of three characters in the Emirati animation, Shaabiyat Al Cartoon
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
RIDE%20ON
%3Cp%3EDirector%3A%20Larry%20Yang%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Jackie%20Chan%2C%20Liu%20Haocun%2C%20Kevin%20Guo%3C%2Fp%3E%0A%3Cp%3ERating%3A%202%2F5%3C%2Fp%3E%0A
The specs: 2018 Audi RS5
Price, base: Dh359,200
Engine: 2.9L twin-turbo V6
Transmission: Eight-speed automatic
Power: 450hp at 5,700rpm
Torque: 600Nm at 1,900rpm
Fuel economy, combined: 8.7L / 100km
The specs: 2018 BMW R nineT Scrambler
Price, base / as tested Dh57,000
Engine 1,170cc air/oil-cooled flat twin four-stroke engine
Transmission Six-speed gearbox
Power 110hp) @ 7,750rpm
Torque 116Nm @ 6,000rpm
Fuel economy, combined 5.3L / 100km
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
MATCH INFO
Sheffield United 2 Bournemouth 1
United: Sharp (45 2'), Lundstram (84')
Bournemouth: C Wilson (13')
Man of the Match: Jack O’Connell (Sheffield United)
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
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
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
