India's Prime Minister Narendra Modi and Ukrainian President Volodymyr Zelenskyy visiting the Martyrologist Exposition in Kyiv. AP
India's Prime Minister Narendra Modi and Ukrainian President Volodymyr Zelenskyy visiting the Martyrologist Exposition in Kyiv. AP
India's Prime Minister Narendra Modi and Ukrainian President Volodymyr Zelenskyy visiting the Martyrologist Exposition in Kyiv. AP
India's Prime Minister Narendra Modi and Ukrainian President Volodymyr Zelenskyy visiting the Martyrologist Exposition in Kyiv. AP

'India will help find peace': Narendra Modi urges Zelenskyy to negotiate with Russia


Taniya Dutta
  • English
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Indian Prime Minister Narendra Modi urged Ukraine's President Volodymyr Zelenskyy to negotiate with Russia when he visited Kyiv on Friday.

In the first visit by an Indian Prime Minister since Ukraine gained independence in 1991, Mr Modi offered to act as a “friend” to facilitate talks between the nations who have been at war for almost two and a half years.

“The road to resolution can only be found through dialogue and diplomacy,” Mr Modi said. “And we should move in that direction without wasting any time. Both sides should sit together to find a way out of this crisis.

“I want to assure you that India is ready to play an active role in any efforts towards peace. If I can play any role in this personally, I will do that, I want to assure you as a friend.”

The meeting came six weeks after Mr Modi met Russian President Vladimir Putin in Moscow, which Mr Zelenskyy said had dealt a “devastating blow to peace efforts”.

The same day, Russian bombing killed at least 41 people, including at a children's hospital in Kyiv, leading to global outrage over Moscow’s military aggression against Ukraine.

It was not immediately clear how Ukrainian officials responded to Mr Modi's offer to mediate. Both leaders called his visit, following a 10-hour overnight journey on the Ukrainian Rail Force One train, “historic”.

Together they honoured the memory of children killed in the war with Russia, which began in February 2022, at the Martyrologist Exposition.

“I was deeply hurt today when I visited [the Martyrologist Exposition] on children at the National Museum of History,” Mr Modi said. “I feel that innocent children are the first casualties of war.”

The Indian Prime Minister, 73, was pictured with his hand on 46-year-old Mr Zelenskyy's shoulder as they viewed images of children killed.

More than 10,000 civilians and 30,000 Ukrainian soldiers have been killed in the war that entered its 912th day on Friday. More than 20,000 people have been injured, according to UN Human Rights Monitoring Mission in Ukraine.

Mr Modi and Mr Zelenskyy later held bilateral talks at Mariinsky Palace, the official residence of the Ukrainian President.

They also signed four agreements on co-operation in agriculture, the food industry, medicine, culture and humanitarian assistance, officials said.

India’s External Affairs Minister Subrahmanyam Jaishankar said Mr Modi had stressed “India's willingness to contribute in all ways possible”.

“The Prime Minister also discussed his conversation with Russian President Vladimir Putin,” Mr Jaishankar told the media.

“It is India's view that the two sides need to engage with each other to find a solution.”

Commentators say Mr Modi’s visit is an attempt by New Delhi to placate its western partners, who have failed to push India to condemn Moscow over its military campaign in Ukraine.

India is a long-time partner of Russia, and New Delhi has sought to continue its relationship with Moscow despite the US and western countries urging nations to sever ties and threatening sanctions for trade relations in some sectors.

India has repeatedly abstained from voting on the western-backed resolutions at the UN.

“Developing countries, including India, are adversely impacted in a big way. Therefore, ending this conflict is important. That is what Mr Modi will try to do,” Anil Trigunayat, a former Indian diplomat, told The National.

Mr Trigunayat said Mr Modi’s privileged relationship with Mr Putin and his talks with the president could contribute to a ceasefire.

During his meeting with Mr Putin, Mr Modi had emphasised “peace through talks” saying that “solutions are not possible on the battlefield”.

“India has a special and privileged strategic partnership with President Putin and India has not condemned Russia and [has] maintained contacts, so they understand India has a special position,” Mr Trigunayat said.

“Mr Modi met Zelenskyy first, and the European, American leaders. Then he met Putin, and now he's going to talk to Zelenskyy finally.

“There is war fatigue on both sides. Maybe he'll come up with some solution, or an idea he can give on the basis of which some kind of a negotiation can happen, and possibly a ceasefire,” Mr Trigunayat said.

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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

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Goalkeepers: Franco Armani, Agustin Marchesin, Esteban Andrada
Defenders: Juan Foyth, Nicolas Otamendi, German Pezzella, Nicolas Tagliafico, Ramiro Funes Mori, Renzo Saravia, Marcos Acuna, Milton Casco
Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez

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PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

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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

Kamindu Mendis bio

Full name: Pasqual Handi Kamindu Dilanka Mendis

Born: September 30, 1998

Age: 20 years and 26 days

Nationality: Sri Lankan

Major teams Sri Lanka's Under 19 team

Batting style: Left-hander

Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)

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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Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

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Famous left-handers

- Marie Curie

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- Leonardo Di Vinci

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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.

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Updated: August 24, 2024, 6:39 AM