Egyptian President Abdel Fattah El Sisi addresses a youth conference in Sharm El Sheikh on November 5, 2018. MENA via AP
Egyptian President Abdel Fattah El Sisi addresses a youth conference in Sharm El Sheikh on November 5, 2018. MENA via AP
Egyptian President Abdel Fattah El Sisi addresses a youth conference in Sharm El Sheikh on November 5, 2018. MENA via AP
Egyptian President Abdel Fattah El Sisi addresses a youth conference in Sharm El Sheikh on November 5, 2018. MENA via AP

Look inward for solutions to Arab problems, former leaders say


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  • Arabic

Arab countries must begin the reconstruction of their societies and tap into the growing youth population if they are to overcome challenges facing the region and counter foreign interference in internal affairs, say former Arab ministers.

The speakers at the 5th annual Abu Dhabi Strategic Debate said the willingness of Arab leaders to look westward for solutions continued to contribute to widespread violence and the inability of their countries to address their domestic problems, let alone remedy regional instability.

“If we looked in all honesty, from the Arab perspective not the foreigners' perspective, the problems of Arab should be the Arabs’ responsibility,” said Nabil Fahmy, former Egyptian foreign minister.

Khaled Bahah, the former Yemeni prime minister, said a failure to address not only the problems within Middle Eastern countries but also among Arabs had allowed political and social cracks to develop, creating opportunities for non-Arab countries to interfere in the internal affairs of Arabs.

“Allowing Iran and others to influence us, is found in regional cracks. If we could cement these cracks then it would be impossible for outside forces to interfere," he said. "If we as Arabs could solve our problems we would provide foreign forces with no opportunity.”

Arab countries, despite needing to create the capacity to address their own issues, should continue to develop relationships with the West. Their downfall, said Mr Bahah, is when the gap widens between Arab countries' capacity to overcome their challenges and the ability of foreign actors to willingly provide stability in the face of change.

“As a result we find that there is a security vacuum in the Arab world, and the Turkish, Iranian and Israeli influence in our affairs and their interference in every single issue. It’s gotten to the point where they are the most important players in our own affairs,” said Mr Bahah.

The solution, according to former Libyan prime minister Mahmoud Jibril, is found in empowering Arabs and tapping into what has often been seen as a crippling demographic drawback in the region: the growing youth bulge.

The Arab uprisings in 2011 "was an alarm bell, because it led to more violence and we can’t have that, especially in the light of our knowing that we can do it [ensure stability], especially with the young people,” said Mr Jibril.

He said the youth, who have grown increasingly disenfranchised, need to be given an opportunity to buy in to their respective governments' plans for their future.

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Despite revolutions in the Middle East being an earnest representation of the disenfranchisement of many Arabs, as was the case in several countries in 2011, the fear lies in that doing so in the current unstable environment allows dissident political and religious groups to hijack those movements to pursue their ulterior motives, Mr Jibril said.

That responsibility of change cannot come without the education of the youth and requires the reconstruction of an “Arab intellectualism” matched with a deeper understanding of religion capable of allowing youth to reject extremist, and at times violent, interpretations of religion.

“Building a new Arab mind has become the responsibility of every Arab, not a secondary thought. It is the role of every measure of society to contribute to this development ... It’s about providing agency to Arabs in every segment of society,” he said.

On rebuilding nations that have been divided by civil war, such as Syria and Yemen, Mr Bahah  decried the practice of unifying states as a solution to conflicts without regard to the underlying concerns.

Mr Bahah warned that doing so would be building a state on an uneasy base, which was likely to institutionalise the grievances from both sides without reconciliation.

“The big problem, in transition, is building a nation or sustaining peace to stop a problem, to stop a crisis. We seldom build a country to build a country, we build to stop wars or a crisis, and this applies to all the other countries in difficulty,” Mr Bahah said.

When decision-makers begin the process of nation-building or unification of countries in Middle East, he said, the founding principles of that nation should be geared to sustain long-term peace and not as a remedy to the current conflict.

Many Arab countries development track is no different than that of Singapore’s in the 1980s and that lessons learnt from their development model should be implemented accordingly.

“Today in the region we are in the same situation, but we have a lack of political understanding of this environment, the lack of ability to change is leading to violence, the resistance to change is making us fail to understand these developments and that leads to more violence,” Mr Bahah said.

He said Singapore had implemented a willingness to change and act accordingly to utilise its resources. In recognising their issues and making use of their limited resources, they were able to create a country and build from the ground up a formidable and stable economic force bringing prosperity to its people.

The model has often been used by developing countries and is one that he said could be reinterpreted to help pull several Arab countries out of violence and into normality.

Company%20profile
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Cinco in numbers

Dh3.7 million

The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown

46

The number, in kilograms, that Swarovski’s wedding gown weighed.

1,000

The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]

50

How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday

3,000

The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.

1.1 million

The number of followers that Michael Cinco’s Instagram account has garnered.

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
GIANT REVIEW

Starring: Amir El-Masry, Pierce Brosnan

Director: Athale

Rating: 4/5

Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

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

RESULT

Valencia 3

Kevin Gameiro 21', 51'

Ferran Torres 67'

Atlanta 4

Josip Llicic 3' (P), 43' (P), 71', 82'

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

BIG SPENDERS

Premier League clubs spent £230 million (Dh1.15 billion) on January transfers, the second-highest total for the mid-season window, the Sports Business Group at Deloitte said in a report.

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20PlanRadar%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2013%3Cbr%3E%3Cstrong%3ECo-founders%3A%20%3C%2Fstrong%3EIbrahim%20Imam%2C%20Sander%20van%20de%20Rijdt%2C%20Constantin%20K%C3%B6ck%2C%20Clemens%20Hammerl%2C%20Domagoj%20Dolinsek%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EVienna%2C%20Austria%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EConstruction%20and%20real%20estate%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E400%2B%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20B%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Headline%2C%20Berliner%20Volksbank%20Ventures%2C%20aws%20Gr%C3%BCnderfonds%2C%20Cavalry%20Ventures%2C%20Proptech1%2C%20Russmedia%2C%20GR%20Capital%3C%2Fp%3E%0A

Henrik Stenson's finishes at Abu Dhabi HSBC Championship:

2006 - 2
2007 - 8
2008 - 2
2009 - MC
2010 - 21
2011 - 42
2012 - MC
2013 - 23
2014 - MC
2015 - MC
2016 - 3
2017 - 8

Mountain Classification Tour de France after Stage 8 on Saturday: 

  • 1. Lilian Calmejane (France / Direct Energie) 11
  • 2. Fabio Aru (Italy / Astana) 10
  • 3. Daniel Martin (Ireland / Quick-Step) 8
  • 4. Robert Gesink (Netherlands / LottoNL) 8
  • 5. Warren Barguil (France / Sunweb) 7
  • 6. Chris Froome (Britain / Team Sky) 6
  • 7. Guillaume Martin (France / Wanty) 6
  • 8. Jan Bakelants (Belgium / AG2R) 5
  • 9. Serge Pauwels (Belgium / Dimension Data) 5
  • 10. Richie Porte (Australia / BMC Racing) 4
Kanye%20West
%3Cp%3EYe%20%E2%80%94%20the%20rapper%20formerly%20known%20as%20Kanye%20West%20%E2%80%94%20has%20seen%20his%20net%20worth%20fall%20to%20%24400%20million%20in%20recent%20weeks.%20That%E2%80%99s%20a%20precipitous%20drop%20from%20Bloomberg%E2%80%99s%20estimates%20of%20%246.8%20billion%20at%20the%20end%20of%202021.%3Cbr%3EYe%E2%80%99s%20wealth%20plunged%20after%20business%20partners%2C%20including%20Adidas%2C%20severed%20ties%20with%20him%20on%20the%20back%20of%20anti-Semitic%20remarks%20earlier%20this%20year.%3Cbr%3EWest%E2%80%99s%20present%20net%20worth%20derives%20from%20cash%2C%20his%20music%2C%20real%20estate%20and%20a%20stake%20in%20former%20wife%20Kim%20Kardashian%E2%80%99s%20shapewear%20firm%2C%20Skims.%3C%2Fp%3E%0A
Evacuations to France hit by controversy
  • Over 500 Gazans have been evacuated to France since November 2023
  • Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
  • The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
  • Artists and researchers fall under a programme called Pause that began in 2017
  • It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
  • Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
  • Unlike students, they are allowed to bring their families to France
COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)

Date started: August 2021

Founder: Nour Sabri

Based: Dubai, UAE

Sector: E-commerce / Marketplace

Size: Two employees

Funding stage: Seed investment

Initial investment: $200,000

Investors: Amr Manaa (director, PwC Middle East) 

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets

Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company

SPECS

Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now

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