Iran has developed a hypersonic missile capable of penetrating all defence systems, the commander of its Revolutionary Guard's aerospace unit said on Thursday.
The announcement came on the same day that UN nuclear watchdog, the International Atomic Energy Agency, said Iran had once again stepped up production of highly enriched uranium.
Experts say Iran has enough highly enriched uranium to create a nuclear bomb, if it so desired. The IAEA also re-iterated in a recent report that Iran had yet to co-operate in an inquiry into unexplained traces of uranium at three sites, which experts say points to a cover up of nuclear activities.
“This hypersonic ballistic missile was developed to counter air defence shields,” Gen Amirali Hajizadeh told Iran's Fars news agency.
“It will be able to breach all the systems of anti-missile defence.”
The move is likely to increase concerns about Iran's missile capabilities, which Iran has made a pillar of its regional military strategy.
Hypersonic missiles can fly at least five times faster than the speed of sound and on a complex trajectory, which makes them difficult to intercept.
There have been no reports of such a missile being tested by Iran. While the country has developed a large domestic arms industry in the face of international sanctions and embargoes, western military analysts say Tehran sometimes exaggerates its weapons capabilities.
Concerns about Iran's ballistic missiles did, however, contribute to a US decision in 2018 under president Donald Trump to pull out of the nuclear agreement that Tehran signed with world powers in 2015.
Last week, Iran said it tested the Ghaem 100, its first three-stage space launch vehicle, which would be able to place satellites weighing 80 kilograms in an orbit 500 kilometres above the Earth's surface, according to state media.
The US has called such actions destabilising because it believes space launch vehicles could be used to transport a nuclear warhead.
Iran denies wanting to develop a nuclear weapon.
Earlier, Sky News reported that Russia handed a British anti-tank missile it had captured in Ukraine to Iran as part of an exchange deal for drones.
The next-generation light anti-tank weapon is said to have been flown to Tehran on a Russian military cargo plane with £120 million ($139m) in cash. The shipment included a Javelin anti-tank missile and a Stinger anti-aircraft defence system the US had donated to Kyiv.
In return, Russia received dozens of drones that it uses to target energy infrastructure and civilians in Ukraine.
The flight landed at an airport in the Iranian capital in the early hours of August 20, according to a security source who spoke to Sky News. The insider said the weapons had been destined for Ukrainian troops but “fell into Russian hands”.
Uranium warning
The news of Iran's moves to increase its missile capabilities came as Tehran stepped up its stockpile of highly enriched uranium, moving the country closer to being able to create a nuclear weapon, the IAEA said on Thursday.
The watchdog, along with world powers, have repeatedly sought assurances from Iran that its nuclear research programme is being used for civilian purposes, in the absence of a return to a 2015 nuclear deal.
That agreement, which limited Iran’s nuclear programme through UN inspections in exchange for a lifting of harsh trade sanctions, was abandoned by former president Donald Trump in 2018.
Since 2020 however, the Biden administration, the EU and other world powers including China and Russia, have sought a return to the agreement.
Iran has failed to satisfy inquiries made by the IAEA asking about traces of “man made” uranium that have been found at sites not previously declared to IAEA inspectors.
Experts say the failure to explain the presence of enriched uranium at the sites points to past Iranian cover ups and a general lack of transparency.
In its quarterly report, the IAEA said that according to its assessment, as of October 22, Iran has an estimated 62.3 kilograms of uranium enriched to up to 60 per cent fissile purity. That amounts to an increase of 6.7kg since the IAEA's last report in September.
That enrichment to 60 per cent purity is a short step away from weapons-grade levels of 90 per cent. Non-proliferation experts have warned in recent months that Iran now has enough 60 per cent-enriched uranium to reprocess into fuel for at least one nuclear bomb.
The IAEA report, which was seen by the Associated Press, also estimated that as of October 22, Iran's stockpile of all enriched uranium was at 3673.7kg — a decrease of 267.2kg since the last quarterly report in September.
The Vienna-based IAEA said it was unable to verify the exact size of Iran’s stockpile of enriched uranium due to limitations that Tehran imposed on UN inspectors last year and the removal of the agency’s monitoring and surveillance equipment in June.
A separate report, also seen by AP, said IAEA director general Rafael Grossi is “seriously concerned” that Iran has still not engaged on the agency's probe into the man-made uranium particles.
Mr Grossi met with Mohammad Eslami, vice president and head of Iran's Atomic Energy Organisation, in late September to discuss the topic. The second report on Thursday noted that IAEA officials will travel to Tehran for a technical visit by the end of November.
AFP contributed to this report
NBA Finals results
Game 1: Warriors 124, Cavaliers 114
Game 2: Warriors 122, Cavaliers 103
Game 3: Cavaliers 102, Warriors 110
Game 4: In Cleveland, Sunday (Monday morning UAE)
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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.”
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
Results
7pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Dirt) 1,600m; Winner: RB Kings Bay, Abdul Aziz Al Balushi (jockey), Helal Al Alawi (trainer)
7.30pm: Maiden (PA) Dh 70,000 (D) 1,600m; Winner: AF Ensito, Fernando Jara, Mohamed Daggash
8pm: Maiden (PA) Dh70,000 (D) 1,400m; Winner: AF Sourouh, Tadhg O’Shea, Ernst Oertel
8.30pm: Maiden (PA) Dh70,000 (D) 1,800m; Winner: Baaher, Fabrice Veron, Eric Lemartinel
9pm: Maiden (PA) Dh70,000 (D) 2,000m; Winner: Mootahady, Antonio Fresu, Eric Lemartinel
9.30pm: Handicap (TB) Dh70,000 (D) 2,000m; Winner: Dubai Canal, Tadhg O’Shea, Satish Seemar
10pm: Al Ain Cup – Prestige (PA) Dh100,000 (D) 2,000m; Winner: Harrab, Bernardo Pinheiro, Majed Al Jahouri
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
SWEET%20TOOTH
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If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
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Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
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From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
MATCH INFO
CAF Champions League semi-finals first-leg fixtures
Tuesday:
Primeiro Agosto (ANG) v Esperance (TUN) (8pm UAE)
Al Ahly (EGY) v Entente Setif (ALG) (11PM)
Second legs:
October 23
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The specs: 2018 Jaguar E-Pace First Edition
Price, base / as tested: Dh186,480 / Dh252,735
Engine: 2.0-litre four-cylinder
Power: 246hp @ 5,500rpm
Torque: 365Nm @ 1,200rpm
Transmission: Nine-speed automatic
Fuel consumption, combined: 7.7L / 100km
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5