Russian President Vladimir Putin, left, meets former Hamas hostage Alexander Trufanov at the Kremlin. AP
Russian President Vladimir Putin, left, meets former Hamas hostage Alexander Trufanov at the Kremlin. AP
Russian President Vladimir Putin, left, meets former Hamas hostage Alexander Trufanov at the Kremlin. AP
Russian President Vladimir Putin, left, meets former Hamas hostage Alexander Trufanov at the Kremlin. AP

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MENA

Putin meets Russian hostages freed from Gaza by Hamas

Russians were released in February after about 500 days in captivity

The National

April 17, 2025

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Live updates: Follow the latest on Israel-Gaza

Russian President Vladimir Putin has met citizens of the country freed by Hamas from captivity in Gaza and said Moscow's long-standing ties with Palestinians helped secure their freedom.

“The fact that you are now free is a result of Russia's many years of stable relations with the Palestinian people, with the representatives of different organisations,” Russian news agencies quoted Mr Putin as saying to former hostage Alexander Trufanov and members of his family.

Russia would do whatever was necessary to ensure those still in captivity are freed, Mr Putin said in a late-night meeting on Wednesday at the Kremlin.

Mr Trufanov was released in February after about 500 days in captivity as part of talks that led to a Gaza ceasefire. He thanked Mr Putin for helping secure his release and said he viewed the hostages remaining in the enclave “like brothers”.

Mr Putin also presented flowers to Mr Trufanov's mother, Elena Trufanova, and his fiancee, Sapir Cohen, who were also among 240 hostages seized by Hamas during its attack against Israel on October 7, 2023. The pair were released later that year, as was Mr Trufanov's grandmother. Mr Trufanov's father was killed in the violence on October 7.

Russia's chief rabbi and the head of the Federation of Russian Jewish Communities was also at the meeting.

Moscow has sought to maintain good ties with both sides in the Gaza conflict, but has said a settlement in the Middle East is only possible based on a two-state solution.

“Here we have to offer a word of gratitude to the leadership and to the political wing of Hamas for a gesture made to us in carrying out this humanitarian act,” Mr Putin said of the hostage release.

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Roger Federer (SUI x2) bt Philipp Kohlschreiber (GER) 6-4, 3-6, 6-1
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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.”

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.

The architecture will control light sources to provide a highly insulated and airtight building.

The forecourt is protected from the sun and the plants will refresh the inner spaces.

A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.

Energy-saving equipment will be used for all lighting and projections.

Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.

Some elements of the metal frame can be prefabricated in a factory.

 From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.

Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019. 

Construction of the pavilion will take 17 months from May 2019 to September 2020.

Updated: April 17, 2025, 10:11 AM
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