DUBAI // The British Chancellor of the Exchequer George Osborne is currently in the UAE on his first official state visit to the country since becoming chancellor in May 2010.
"He is here to discuss the full spectrum of bilateral issues between the UK and UAE and will be having meetings both in Abu Dhabi and Dubai," confirmed a spokeswoman for the British Embassy last night.
The conservative politician released his first bugdet last month which included a cut in certain business taxes, an increase on tobacco duty and removing exemptions for hot takeaway products and sports drinks.
On the first day of his visit he met Sheikh Hazza bin Zayed, the National Security Advisor, at the Emirates Palace in Abu Dhabi to tackle joint relations, according to the state news agency Wam.
Trade between the two countries reached US$5.4 billion in 2010, and the UAE hosts more than a million British people every year. Half a million Emiratis also visit the UK every year, the Wam statement said.
nhanif@thenational.ae
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports