Volodymyr Zelenskyy faced a different reality when he arrived in Davos this week, with Europe running low on cash and patience amid a three-year war on its doorstep.
France, with a deficit twice what EU rules allow, has voted to bring its swollen budget under control, while Germany is set to have a new leader next month. US President Donald Trump says he wants to end the war but remains highly unpredictable, with the $180 billion in US aid for Ukraine given by former president Joe Biden expected to dry up.
On Tuesday, in unusually critical remarks about Russian President Vladimir Putin, Mr Trump said: “He should make a deal … I think Russia’s going to be in big trouble. Zelenskyy wants to make a deal.”
With regards to the expansion of America, I think they were general phrases. If, for example, they wanted to expand at the expense of the Russian Federation, then of course, why not?!
Volodymyr Zelenskyy on Trump's talk of annexing Greenland
Mr Zelenskyy also struck an unusually critical note against his European allies on stage at the World Economic Forum, warning they were “falling behind” the US and China in the tech and AI race, and telling them to “put paid” to Iran's threat.
Afterwards, in a media briefing which included The National, he spoke about what it would take to end the war and hinted that he had to have a convincing deal to sell to his people.
“Who will stop a father with a weapon who lost his child?” he said. Mr Zelenskyy also touched on Mr Trump's desire to seize Greenland, saying he was welcome to annex some of the Russian Federation instead.
On ending the war
“We are the victim. Putin is the occupier. He started the war and he's not hiding this fact. But seeing as we want to finish this war, and President Trump also says he would like to finish the war, and I believe he [Trump] could help us.
“But we all should understand that Putin does not want to end the war. Because he did not achieve his objective. This is why it's difficult for us, difficult for our allies – and difficult for President Trump as well.
On accepting the loss of territory
“Even if all the allies in the world come together, we will still not recognise the occupation. Legally, we'll never recognise it. So, until these territories come back, they will be occupied by Russia.
“We've lost children, relatives, husbands, I don't want to get emotional, but I want you to understand our position. Was it all in vain? Will it be lost in history?
“There is an understanding of how to exit this war so that Ukraine would still remain Ukraine, a sovereign Ukraine. [Putin] does not want this. But does he have a vision of exit? I don't think he has.
On Ukraine after the war
“Could we start life over without knowing … what if he starts the war again? We can't bring children who have been taken out of the country … people cannot leave the trenches. Investors are coming? Will they come? No way.
“It cannot just be a deal with the devil. We need to talk to him from a position of strength because if we start talking as equals, that will be a defeat for Ukraine.
Nato membership
“We would like to be in Nato. And the majority of members support us. But four countries do not: the US, Germany, Slovakia and Hungary. And all of these four countries, everything depends on the US. The Nato issue depends on the US. If President Trump wants to see us in Nato, we will be in Nato.”
On meeting Trump
On Ukraine's Chief of Staff meeting with Vice President JD Vance in December: “They had a meeting in the US. They had a good meeting. It was very difficult because of the inauguration to make concrete steps, because of American law. Now we will see. Maybe [US envoy Lt Gen Keith] Kellogg will come along, maybe some more guys will come to Kyiv – and of course, we'll have a meeting in Washington. Soon.”
On Trump's plan to annex Greenland
“With regards to the expansion of America, I think they were general phrases. If, for example, they wanted to expand at the expense of the Russian Federation, then of course, why not?
On France's budget crisis
“We have very good relations with Emmanuel Macron and his team. We've known each other for many years, five years. We've had difficult moments but I'm grateful for his support in difficult times.
On Brazil's 'failed' peace deal
“We very much wanted to join all of the countries so that we were all at the table. But Brazil decided to come up with its own initiative and China wanted its own initiative. And the African continent … the Arab countries and the Middle East, all had their own visions. And none of those make the war closer to an end.
“Today, I believe that the opportunity has been missed, their train has gone in a different direction. I've met [President] Lula and asked him to be the partner to put an end to the war, but now he's no longer a player. He's not a player – and for Trump, he won't be a player.
On a Ukrainian 'buffer' between the EU and Russia
“Nato is the cheapest security guarantee for Ukraine, for America, for Europe and Russians. Today, we have 800,000 military personnel. We would need to have a one million army, because what quantity can stand in defence [against Russia].
“Who will provide supplies for the one million army? If Europe says that Ukraine defends not only Ukraine but also Europe it is logical for us all to supply this army with weapons … because Ukraine will not have the budget for a one million army.
“If they have a 1.5 million army, if we have less, two times, it means we need contingents.... with a very strong number of soldiers. 200,000 Europeans? 200,000 is the minimum. Otherwise, it's nothing.
'You have $250bn in Russia assets, let's get it'
“I say you have $250 billion in frozen Russian assets, I say let's get it, let's do some infrastructure and the sustainment of the army until we are in the Nato alliance.
“I'm not saying this is something unimaginable, I'm saying it's something I've discussed already …
On selling peace to the Ukrainian people
“We lost a lot of people, husbands lost their lives, and the opposite. And if we're not in Nato who will stop a father with a weapon who lost his child? Nato is a compromise. If you are in Nato, you [a future Ukraine] will never go with a weapon to the Russians. If we are not in Nato, this is the answer …”
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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.”
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
'The worst thing you can eat'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
Roll of honour 2019-2020
Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain
West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership
UAE Premiership
}Winners: Dubai Exiles
Runners up: Dubai Hurricanes
UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II
UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby
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.
Key products and UAE prices
iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229
iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649
iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179
Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20OneOrder%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20March%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Tamer%20Amer%20and%20Karim%20Maurice%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Cairo%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E82%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Series%20A%3C%2Fp%3E%0A
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
Mohammed bin Zayed Majlis
PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Despacito's dominance in numbers
Released: 2017
Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon
Views: 5.3 billion on YouTube
Sales: With 10 million downloads in the US, Despacito became the first Latin single to receive Diamond sales certification
Streams: 1.3 billion combined audio and video by the end of 2017, making it the biggest digital hit of the year.
Awards: 17, including Record of the Year at last year’s prestigious Latin Grammy Awards, as well as five Billboard Music Awards