Pedestrians in Independence Square in the Ukraine's capital Kiev. A growing number of countries are asking their citizens to leave the country. EPA
Pedestrians in Independence Square in the Ukraine's capital Kiev. A growing number of countries are asking their citizens to leave the country. EPA
Pedestrians in Independence Square in the Ukraine's capital Kiev. A growing number of countries are asking their citizens to leave the country. EPA
Pedestrians in Independence Square in the Ukraine's capital Kiev. A growing number of countries are asking their citizens to leave the country. EPA

UAE and Kuwait advise citizens against travel to Ukraine


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The UAE embassy in Kiev on Saturday issued an advisory asking citizens to avoid travel to Ukraine.

It said Emirates' citizens should postpone plans to go to Ukraine and provided those in the country with a phone number to contact.

Kuwait also asked its citizens not to travel to Ukraine, and advised Kuwaitis already in the country to leave.

Meanwhile, Saudi Arabia's embassy in Kiev urged its citizens to quickly get in touch to arrange their departure from the country, Saudi state TV reported.

Jordan also called on its nationals to leave Ukraine in light of the “current developments”, the foreign ministry said. It also called on citizens to postpone any plans to visit the country.

The advisories follow a US warning on Friday that an invasion by Russia could happen at any time.

US National Security Adviser Jake Sullivan said that after months of building up its military forces on Ukraine's borders, Russia had reached the point of being able to invade its neighbour in “a relatively near-term time frame".

The US and several other countries — including the UK, Germany, Belgium, Australia, Japan and South Korea — have already asked their citizens to leave Ukraine.

The US embassy in Kiev said on Saturday that the State Department had ordered all non-emergency employees at the mission to leave “due to continued reports of a Russian military build-up on the border with Ukraine, indicating potential for significant military action".

  • Russian and Belarus troops held joint combat training at firing ranges in Belarus as tensions remain high under the looming threat of war with Ukraine. AP Photo
    Russian and Belarus troops held joint combat training at firing ranges in Belarus as tensions remain high under the looming threat of war with Ukraine. AP Photo
  • A soldier drives an armoured vehicle at Brestsky firing range, Belarus. AP Photo
    A soldier drives an armoured vehicle at Brestsky firing range, Belarus. AP Photo
  • A Ukrainian serviceman carries out checks not far from the pro-Russian militant-controlled city of Donetsk, Ukraine. EPA
    A Ukrainian serviceman carries out checks not far from the pro-Russian militant-controlled city of Donetsk, Ukraine. EPA
  • A Russian military vehicle drives off a railway platform after arriving in Belarus. AP Photo
    A Russian military vehicle drives off a railway platform after arriving in Belarus. AP Photo
  • A soldier takes aim during a Russian and Belarusian military drill at Brestsky firing range. AP Photo
    A soldier takes aim during a Russian and Belarusian military drill at Brestsky firing range. AP Photo
  • A Ukrainian serviceman repairs a shelter near Donetsk, Ukraine. EPA
    A Ukrainian serviceman repairs a shelter near Donetsk, Ukraine. EPA
  • Aircraft are lined up on 'USS Harry S Truman' in the Adriatic Sea. The Truman strike group is operating under Nato command and control along with several other Nato allies for co-ordinated maritime manoeuvres, anti-submarine warfare training and long-range training. Reuters
    Aircraft are lined up on 'USS Harry S Truman' in the Adriatic Sea. The Truman strike group is operating under Nato command and control along with several other Nato allies for co-ordinated maritime manoeuvres, anti-submarine warfare training and long-range training. Reuters
  • Russian soldiers attend the Yurginsky training ground in the Kemerovo region, Russia. AP Photo
    Russian soldiers attend the Yurginsky training ground in the Kemerovo region, Russia. AP Photo
  • A Ukrainian serviceman lays flowers where one of his friends was killed in 2017 near Avdiivka. Anatolii Stepanov / AFP
    A Ukrainian serviceman lays flowers where one of his friends was killed in 2017 near Avdiivka. Anatolii Stepanov / AFP
  • A Ukrainian serviceman stands guard in a dugout on the frontline with the Russia-backed separatists near Avdiivka. AFP
    A Ukrainian serviceman stands guard in a dugout on the frontline with the Russia-backed separatists near Avdiivka. AFP
  • This satellite image shows troops gathered at a training ground in Pogonovo, Russia. AP Photo
    This satellite image shows troops gathered at a training ground in Pogonovo, Russia. AP Photo

UK junior defence minister James Heappey warned Britons that there would be no military evacuation effort in case they were caught up in conflict in Ukraine.

“British nationals should leave Ukraine immediately by any means possible and they should not expect, as they saw in the summer with Afghanistan, that there would be any possibility of a military evacuation,” he told Sky News.

Mr Heappey said no decision had yet been made on Britain's diplomatic presence in Ukraine.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Where to apply

Applicants should send their completed applications - CV, covering letter, sample(s) of your work, letter of recommendation - to Nick March, Assistant Editor in Chief at The National and UAE programme administrator for the Rosalynn Carter Fellowships for Mental Health Journalism, by 5pm on April 30, 2020

Please send applications to nmarch@thenational.ae and please mark the subject line as “Rosalynn Carter Fellowship for Mental Health Journalism (UAE programme application)”.

The local advisory board will consider all applications and will interview a short list of candidates in Abu Dhabi in June 2020. Successful candidates will be informed before July 30, 2020. 

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