Global

Policy & Legal Updates

UAE Issues Tax Rules for Multinationals Under Global Minimum Tax Regime

The UAE Federal Tax Authority has issued a guide on its Qualified Domestic Minimum Top-up Tax regime under the OECD/G20 Pillar Two framework. The rules mandate a minimum corporate tax rate of 15% for multinational enterprise groups with annual global revenues of at least €750 million. In-scope entities with fiscal periods ending prior to April 30, 2026, must register via EmaraTax by November 30, 2026.

Industry News

US-China Tanker Freight Surges to $76 Million Amid Middle East Shipping Constraints

A supertanker chartered by commodity merchant Trafigura to transport crude from the U.S. Gulf Coast to China was fixed at an unprecedented $76 million. Middle East producers' ship-to-ship shuttle transfers in the Strait of Hormuz have restricted global fleet availability. On a 2-million-barrel cargo, the freight cost equates to approximately $38 per barrel.

Policy & Legal Updates

UK Billionaire Exodus Moves $160 Billion to the UAE, Switzerland, and Monaco

Billionaires who left or loosened ties with the United Kingdom over the past two years represent an estimated $160 billion in combined wealth, according to Fortune and Bloomberg calculations. The departures have been driven by UK tax changes, including the end of the non-domiciled regime and higher capital gains taxes. The United Arab Emirates, Monaco, and Switzerland have emerged as primary relocation destinations.

China–UAE News

Report Examines UAE and China Port Stakes Across Horn of Africa

A report published by NoonPost examines growing regional and global competition over maritime hubs and bases across roughly 1,600 miles of coastline between Berbera and Port Sudan. The analysis highlights major infrastructure and financial footprints, including the UAE's DP World port concessions and Chinese financial and military presence in Djibouti. It also details unresolved multi-million-dollar concession disputes and debt restructuring arrangements.