US President Donald Trump hopes Russia will accept a 30-day ceasefire proposal in Ukraine. Reuters
US President Donald Trump hopes Russia will accept a 30-day ceasefire proposal in Ukraine. Reuters
US President Donald Trump hopes Russia will accept a 30-day ceasefire proposal in Ukraine. Reuters
US President Donald Trump hopes Russia will accept a 30-day ceasefire proposal in Ukraine. Reuters

Trump to discuss Russia-Ukraine ceasefire with Putin on Tuesday


Willy Lowry
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US President Donald Trump said he plans to speak to Russian President Vladimir Putin on Tuesday to discuss ending the war in Ukraine.

“I'll be speaking to President Putin on Tuesday. A lot of work's been done over the weekend,” Mr Trump told reporters on Air Force One during a late flight back to the Washington area from Florida. “We want to see if we can bring that war to an end. Maybe we can, maybe we can't, but I think we have a very good chance.”

Mr Witkoff, who met the Russian leader in a late-night encounter in Moscow on Thursday, told CNN that US-led efforts to achieve a lasting truce to the conflict with Ukraine were progressing. “The two sides are today a lot closer,” he said.

Mr Witkoff's portfolio has expanded in recent weeks as he has shown himself to be one of the President’s closest allies and a key problem solver for the administration. His meeting with Mr Putin failed to yield a ceasefire in Ukraine but he still described the exchange as “positive”. He added: “I think the meeting was somewhere between three and four hours. It was positive. It was a solution-based discussion.”

The talks came after US Secretary of State Marco Rubio and National Security Adviser Michael Waltz met Ukrainian officials in Jeddah, Saudi Arabia. The day-long meeting culminated in Kyiv accepting a proposal for a 30-day ceasefire.

It was a significant development and one that appeared to have mended the fractured relations between the US and Ukraine after a disastrous meeting in the Oval Office on February 28, when Ukrainian President Volodymyr Zelenskyy got into a heated argument with Mr Trump and Vice President JD Vance.

Mr Trump ultimately asked Mr Zelenskyy to leave the White House grounds in a calamitous and public rupture.

Mr Trump has made ending the Russia-Ukraine conflict an early priority of his administration. On Friday, he said he hoped Russia would accept a 30-day ceasefire and if not “it'll be a very disappointing moment for the world”.

Mr Putin has said a temporary ceasefire would give Ukrainian soldiers a badly needed reprieve while the Kremlin believes it has Kyiv on the ropes.

In only two months, Mr Trump has upended US foreign policy. He has made his “America first” agenda his guiding mission, challenging allies while looking to improve relations with Russia.

Mr Witkoff said he was “really hopeful” that progress would be made in the next few weeks.

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Rating: 4/5

Trippier bio

Date of birth September 19, 1990

Place of birth Bury, United Kingdom

Age 26

Height 1.74 metres

Nationality England

Position Right-back

Foot Right

While you're here
If you go

The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.

The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.

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.”

MATCH INFO

Uefa Champions League semi-final, second leg result:

Ajax 2-3 Tottenham

Tottenham advance on away goals rule after tie ends 3-3 on aggregate

Final: June 1, Madrid

Brief scores:

Day 1

Toss: India, chose to bat

India (1st innings): 215-2 (89 ov)

Agarwal 76, Pujara 68 not out; Cummins 2-40

New Zealand 21 British & Irish Lions 24

New Zealand
Penalties: Barrett (7)

British & Irish Lions
Tries: Faletau, Murray
Penalties: Farrell (4)
Conversions: Farrell 
 

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Updated: March 17, 2025, 5:06 AM