Latest news with #AlTamimi
Syyaha
01-06-2025
- Business
- Syyaha
Baheej Introduces a Boutique Wellness Resort Inspired by Saudi Traditions to Yanbu's Coastline
YANBU, Saudi Arabia | June 1, 2025 — Baheej, Saudi Arabia's emerging destination developer and a joint venture between ASFAR, the Saudi Tourism Investment Company and a Public Investment Fund (PIF) company with the Tamimi-AWN Alliance, is proud to announce the fourth component of its transformative Yanbu Waterfront Project: a 34-room boutique Wellness resort that brings together ancestral wellness wisdom and contemporary design inspired by the region's seafaring on the tranquil shores of Yanbu, this intimate sanctuary will feature private sea-view cabanas, immersive wellness programming, and a signature spa designed as an architectural homage to the pearl, once a precious treasure of Yanbu and a symbol of renewal and Al Tamimi, CEO of Baheej, added: 'This project is a reflection of Baheej's vision to enrich Saudi destinations with meaning, not just infrastructure. Our wellness resort is more than a place to stay — it's an experience crafted around the values of balance, beauty, and belonging. We believe it will become a new symbol of Yanbu's evolving identity as a serene coastal escape.'Envisioned as a journey and offering guests opportunities to reconnect with self and place, Baheej is developing the resort with curated experiences that include meditation at sunrise, movement rituals inspired by coastal rhythms, and wellness treatments rooted in Arabic healing traditions and native ingredients.'The design, developed by Spectrum Architecture, draws deeply from the soul of Yanbu,' said Stefano Lopez, Senior Director at Baheej. 'It reinterprets the poetry of seafaring traditions and the calm resilience of the sea into a space of reflection, comfort, and transformation.'Lopez also noted that the official brand of the resort will be revealed later this year, hinting at its distinctive Saudi character: 'We want to create a brand that resonates with our domestic travelers. One that brings generations of Saudi heritage and wellness practices to the forefront of contemporary hospitality.' This launch marks a further step in Baheej's mission to transform Yanbu into the gateway to the Red Sea Riviera; a new destination narrative that fuses nature, culture, and community. The wellness resort joins a growing collection of destination-defining assets developed by Baheej in Yanbu, including Cloud 7 Lifestyle hotel by Kerten Hospitality, Kaynuna Beach Escape and the upcoming Jaba Tour Center and Diving Club.
Khaleej Times
28-05-2025
- Business
- Khaleej Times
UAE family businesses urged to prioritise tax planning amid corporate tax rollout
Family businesses in the UAE must urgently adopt robust tax planning strategies and ensure full documentation to stay compliant under the country's evolving corporate tax regime, said Shiraz Khan, Partner and Head of Taxation at Al Tamimi & Company. Speaking at the sixth edition of the New Age Finance and Accounting (NAFA) Summit organised by Khaleej Times, Khan emphasised that accurate and complete tax returns, backed by supporting documents, are critical in the face of future audits by UAE tax authorities. 'You need to have contracts and invoices to support deductible expenses,' he said. 'If you can't prove them, you may lose your right to claim them —even if they are legally deductible.' He outlined that businesses are now required to retain tax records for seven years, which is a departure from VAT rules. Companies must also maintain documentation for foreign tax credits, withholding tax certificates, and group loss offsets, which allow up to 75 percent loss relief across group entities. It was in 2023 that the UAE's Federal Tax Authority (FTA) rolled out a 9 percent corporate tax. Holding structure Khan highlighted that family businesses should assess whether to set up holding structures, particularly in UAE free zones, to benefit from zero percent tax rates, provided they meet criteria around qualifying income, substance requirements, and transfer pricing compliance. 'Transfer pricing rules are now fully in effect, and related party transactions must be disclosed and benchmarked using approved methods,' he said, adding that arm's length pricing and functional analysis will be essential. He also advised considering tax grouping, which enables consolidated filings and eases intra-group compliance, and reviewing double tax treaties — with over 100 countries — to reduce exposure to withholding taxes and permanent establishment risks. Internal tax policies Khan cautioned that non-compliance could result in severe financial penalties, reputational damage, and regulatory setbacks. He urged family-owned companies to formalise internal tax policies, create a dedicated tax function, and proactively manage tax risks. 'Tax is now a material cost that could impact business continuity. Every family business must understand the new rules, adapt, and structure operations efficiently, especially with more mergers and acquisitions activity and generational transitions happening,' he said. Khan also pointed to time-bound opportunities such as small business relief for firms with revenues under Dh3 million, valid until the end of 2026, and exemptions for foreign permanent establishments — but noted these must be applied for in advance. Above all, he stressed the importance of clear documentation. 'You must be able to justify every position in your tax return. If there is uncertainty, get a legal or tax opinion — and always keep records ready,' he concluded.
Observer
27-04-2025
- Health
- Observer
SPF marks World Safety Day with focus on AI
MUSCAT: Under the theme 'Revolutionising Occupational Safety and Health: The Role of Artificial Intelligence and Digitalisation at Work', the Social Protection Fund (SPF) celebrated the World Day for Safety and Health at Work, observed annually on April 28. The event reaffirmed the Fund's ongoing commitment to fostering a safer, more advanced work environment in step with rapid technological advancements. The celebration reflects the Fund's efforts to promote a culture of workplace safety through sustainable awareness programmes, specialised training, continuous risk assessments and the regular updating of operational procedures to align with international best practices. Emphasising the significance of the occasion, the Fund highlighted that the World Day for Safety and Health at Work serves as a strategic opportunity to integrate social protection goals with digital transformation initiatives — ensuring safer, more efficient and sustainable workplaces. The 2024 theme underlines the role of artificial intelligence and digital technologies in enhancing occupational safety systems, such as real-time risk prediction, incident analysis and advanced workplace monitoring, all of which contribute to reducing workplace injuries and fostering a culture of sustainable safety. Speaking at the event, Shamsa al Tamimi, Director of the Medical Affairs Department at SPF, spotlighted the Fund's ongoing initiatives in this critical field. She also outlined the current status and challenges facing occupational safety and health in Oman and elaborated on the transformative role of modern technologies. 'Ensuring human safety at work is not a choice — it is a fundamental right,' Al Tamimi emphasised. 'Oman is steadfast in its efforts to align workplace legislation and practices with international standards, striving to create safer and more dignified work environments that adapt to the technological transformations shaping today's workplaces.' Al Tamimi noted that technologies such as artificial intelligence and big data analytics have become essential for detecting potential risks, enabling early interventions to prevent incidents, thereby enhancing productivity and sustainability in the workplace. She elaborated on the key initiatives undertaken by the Fund, highlighting the continuous upgrading of digital infrastructure to support evaluation and oversight processes. The Fund also regularly conducts employee training and awareness campaigns to foster a safety-first culture. Further, she explained that the Fund uses advanced electronic systems to monitor and analyse occupational incidents, allowing for swift, data-driven corrective actions. Efforts are also underway to incorporate AI applications capable of predicting risks and identifying incident patterns, thus bolstering the Fund's ability to safeguard its workforce. In her remarks, Al Tamimi emphasised the importance of addressing mental health as an integral part of occupational safety — adopting a holistic approach that prioritises both physical and psychological well-being. She also pointed to emerging challenges, noting that the rapid digital transformation and the growing adoption of flexible and hybrid work models demand continuous innovation in safety strategies and a redefinition of workplace policies. Concluding her address, Al Tamimi reaffirmed the Fund's unwavering dedication to enhancing workplace safety, embracing international best practices and aligning with Oman's broader vision of creating safer, more inclusive work environments.
Daily Tribune
14-04-2025
- Business
- Daily Tribune
Al Baraka Islamic Bank names Mohammed Ali Al Tamimi as Chief of Compliance and MLRO
Al Baraka Islamic Bank, one of the leading Islamic banks in the Kingdom of Bahrain, is pleased to announce the appointment of Mohammed Ali Al Tamimi as its new Chief Compliance Officer and Money Laundering Reporting Officer (MLRO) With over 18 years of professional experience in banking and mainly in compliance and regulatory oversight and anti-money laundering, Al Tamimi brings a wealth of expertise to his new role. He previously served as the Vice President of Compliance and Regulatory Oversight at Qatar National Bank (QNB), where he played an instrumental role in strengthening compliance systems and ensuring adherence to regulatory standards. His efforts focused on addressing financial crime-related issues and developing Environmental, Social, and Governance (ESG) strategies, significantly enhancing the bank's compliance framework. Before joining QNB, Al Tamimi held several key positions, including Head of Compliance and Anti-Money Laundering at Cairo Amman Bank (Bahrain Branch). In these roles, he was pivotal in establishing and fortifying compliance functions in alignment with the highest international and local regulatory standards. Al Tamimi holds a Bachelor's degree in Banking and Finance from the University of Bahrain, along with several distinguished professional certifications, including an International Diploma in Compliance, the Certified Anti-Money Laundering Specialist (CAMS), and the Certified AML FinTech Compliance Associate certification (CAFCA), which he obtained in June 2024. These qualifications reflect his deep expertise in the field, as well as his capability to tackle regulatory challenges with efficiency and professionalism. Dr. Adel Abdullah Salem, the Bank's Chief Executive Officer, welcomed Al Tamimi's appointment, stating, 'We are delighted to announce Mr. Mohammed Ali Al Tamimi as our Chief of Compliance and MLRO. His extensive experience will undoubtedly enhance our ability to meet the highest regulatory standards, and we are confident that his addition to our team will contribute to providing safer and more reliable banking services, reinforcing our commitment to transparency and best banking practices.'
Mid East Info
05-04-2025
- Sport
- Mid East Info
Austin Trout Claims World Welterweight Championship in Extra Round Thriller at BKFC 71 Dubai - Middle East Business News and Information
The Dubai Duty Free Tennis Stadium played host to an electrifying night of bare-knuckle action on April 4th as BKFC 71 delivered a stacked fight card featuring competitors from across the globe powered by World League of Fighters in association with Dubai Sports Council. The event marked another successful international expansion for the Bare-Knuckle Fighting Championship, bringing its unique brand of combat sports to the United Arab Emirates. The event was graced by Bare Knuckle Fighting Championship Founder and President, David Feldman, MMA Legend Conor McGregor and Co Founders of World League of Fighters, Rajesh Banga and Sunil Mathew. In the main event, Austin Trout from Texas, USA successfully defended his BKFC World Welterweight Championship against Carlos Trinidad-Snake from Nebraska, USA via split decision in a contest that required an extra round. Trinidad-Snake scored an early knockdown in round one, but Trout demonstrated remarkable resilience throughout the fight. After five rounds ended in a draw, the championship bout went to a decisive sixth round where Trout's superior volume proved decisive. Austin Trout landed 93 significant strikes to Trinidad-Snake's 73, earning scores of 58-55 and 57-56 on two judges' cards, while one judge favored Trinidad-Snake 58-55. The co-main event featured Britain Hart from USA defending her strawweight title against Tai Emery from Australia in a grueling five-round affair. Emery controlled the opening round with aggressive left hands, forcing Hart to adjust her strategy. By the middle rounds, both fighters displayed visible damage with cuts appearing over their left eyes. In round five, the ringside physician examined Emery's swollen eye before allowing the fight to continue. Hart closed the show with a powerful right hand that helped secure her unanimous decision victory and tenth career win. The middleweight division featured a gutsy performance from Johnny Tello from Canada who fought through a completely closed left eye to earn a unanimous decision (48-45, 47-46, 48-45) victory against Sabah Homasi from USA belonging to Lebanon. After a challenging first two rounds, Tello dominated the third frame, pushing his opponent into the corner and unleashing a barrage of precise strikes from various angles. After the win, Tello remarked, 'I lost 25 pounds, had only two months of training, my opponent is bigger, and yet I am standing.' In another exciting BKFC action, Egypt's pro MMA bout Adel Al Tamimi delivered a commanding performance against Spain's David Mora. Despite Mora landing some questionable blows to the back of the head that required referee intervention, Al Tamimi maintained his composure and consistently used his superior strength to control the fight. In round two, Al Tamimi neutralized his taller opponent's reach advantage with a clean right jab that sent Mora to the canvas. The bout concluded at 1 minute and 28 seconds of the third round when Al Tamimi connected with another precision right hand for the decisive victory. Egypt's Mahmoud Ahmed secured a split decision win over Fuad Tarvedi from Azerbaijan by maintaining a consistent left-hand attack to both body and face throughout the contest. Judges scored it 47-46 twice for Ahmed and once for Tarvedi in the competitive matchup. Islam Siszbulatov from Austria made a statement with his explosive performance, needing just 40 seconds to knock out Cheng Leang from Cambodia in the first round with a perfectly timed strike. Similarly impressive was Azerbaijan's Elnur Suleymanov, who dominated Lucas Sontgen of Germany before finishing him 14 seconds into the second round with a devastating combination. In heavyweight action, Brazil's Geronimo Dos Santos needed just 1 minute and 49 seconds of the opening round, to dispatch veteran Alexey Oleinik of Russia by TKO. The Brazilian powerhouse connected with a thunderous single blow that sent Oleinik crashing to the canvas, demonstrating the raw power that makes him one of the most intimidating figures in the heavyweight division. BKFC 71 showcased the growing global appeal of bare-knuckle fighting with competitors from across the Middle East, Europe, Asia, and the Americas, solidifying the promotion's international presence in combat sports.
