Russian President Vladimir Putin, African leaders and heads of delegations at the second Russia-Africa summit in Saint Petersburg on Friday. AFP
Russian President Vladimir Putin, African leaders and heads of delegations at the second Russia-Africa summit in Saint Petersburg on Friday. AFP
Russian President Vladimir Putin, African leaders and heads of delegations at the second Russia-Africa summit in Saint Petersburg on Friday. AFP
Russian President Vladimir Putin, African leaders and heads of delegations at the second Russia-Africa summit in Saint Petersburg on Friday. AFP


Who did the Russia-Africa summit benefit?


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July 30, 2023

The Russia-Africa summit held in Saint Petersburg on Thursday has served as a morale-booster for Moscow. The Kremlin gathered heads of state and officials representing several African countries in the second edition of the summit focused on bolstering Russia’s bilateral relations with the continent. However, the summit’s impact on the strategic balance of power will be limited, considering the global turmoil caused by the war in Ukraine has left the international order lost without direction.

One of the main concerns for the African leaders is Moscow’s bid to bypass western sanctions and western presence in Africa, given the American and European determination to crack down on any circumvention of their measures.

During the summit, Russian President Vladimir Putin promised to provide free grain shipments in the coming months to six nations: Burkina Faso, the Central African Republic, Eritrea, Mali, Somalia and Zimbabwe. This move comes amid African concerns over Russia’s exit from the Black Sea Grain Initiative, a move Moscow attributed to western policies, as it accused the West of hindering the deal despite Russia’s commitment to it. The fact, however, is that it is Russia that refused to extend the agreement, which was sponsored by Turkey, triggering concerns of a global food crisis that would primarily affect Africa following the cessation of grain exports from Ukraine.

Moscow’s pitch at the summit did not include measures to protect African countries from sanctions imposed on Russia. Indeed, it is unable to provide such guarantees, given that the West would pursue and punish anyone who deals with Russia.

Supporters wave Niger's flags as they rally in support of the junta in front of the National Assembly in Niamey on Friday. AFP
Supporters wave Niger's flags as they rally in support of the junta in front of the National Assembly in Niamey on Friday. AFP
Moscow seeks to showcase to the world that its 'special military operation' in Ukraine has not diminished its global standing

On Thursday, Mr Putin said: “Russia was one of the first countries to respond positively to the initiative to grant the African Union full membership in the G20. We expect this decision to be taken as early as September during the G20 summit in New Delhi.” The question, however, is whether the African Union’s membership will hold significance in the G20, due to the western alliance’s growing strength in recent months.

The tools with which the Russian government can exert influence in Africa are limited, too.

Some western governments have alleged that the private Wagner Group has played a crucial role in certain African countries on behalf of Moscow. If this is indeed the case, it is hard to say how much influence the militia will continue to wield following its mutinous advance towards Moscow in June.

Last week’s coup against Nigerien President Mohamed Bazoum, who has been largely aligned with the West, will be followed with keen interest by all the stakeholders. This is particularly the case as the Sahel has for years been subjected to competition between Russia and the West. Niger, it is important to point out, is rich in uranium and, therefore, important for the French nuclear industry. Following the coup, the EU and France cut off financial support to the country, with the US threatening to do the same.

Moscow seeks to showcase to the world that its “special military operation” in Ukraine has not diminished its global standing. However, the reality of the war has forced it to reduce its global military and economic presence elsewhere.

  • As the war in Ukraine approaches the 500-day mark, 'The National' looks back at the conflict. All photos: AP
    As the war in Ukraine approaches the 500-day mark, 'The National' looks back at the conflict. All photos: AP
  • Ukrainian soldiers cover their ears to protect from Russian tank shelling in a shelter on the front line in the Zaporizhzhia region in July
    Ukrainian soldiers cover their ears to protect from Russian tank shelling in a shelter on the front line in the Zaporizhzhia region in July
  • A cemetery in evening sunlight near Lviv in July
    A cemetery in evening sunlight near Lviv in July
  • Flooded streets in Kherson in June after the walls of the Kakhovka dam collapsed
    Flooded streets in Kherson in June after the walls of the Kakhovka dam collapsed
  • Tetiana with her pets, Tsatsa and Chunya, in her house that was flooded when the Kakhovka dam in Kherson was breached
    Tetiana with her pets, Tsatsa and Chunya, in her house that was flooded when the Kakhovka dam in Kherson was breached
  • Young cadets sing the national anthem during a graduation ceremony at a cadet lyceum in Kyiv in June
    Young cadets sing the national anthem during a graduation ceremony at a cadet lyceum in Kyiv in June
  • Bakhmut in April, the site of the heaviest battles in the Donetsk region
    Bakhmut in April, the site of the heaviest battles in the Donetsk region
  • A message on a mirror reads 'Ukraine will prevail' in a badly damaged school in Kharkiv in February
    A message on a mirror reads 'Ukraine will prevail' in a badly damaged school in Kharkiv in February
  • Ukrainian servicemen in position close to the border with Belarus in February
    Ukrainian servicemen in position close to the border with Belarus in February
  • Hospital staff in Kherson with orphaned children at the regional hospital maternity ward in November 2022
    Hospital staff in Kherson with orphaned children at the regional hospital maternity ward in November 2022
  • A sniper unit aims at Russian positions in the Kherson region during an operation in November 2022
    A sniper unit aims at Russian positions in the Kherson region during an operation in November 2022
  • Ukrainian artillerymen fire at Russian positions near Bakhmut in November 2022
    Ukrainian artillerymen fire at Russian positions near Bakhmut in November 2022
  • A Ukrainian serviceman near Oskil village in October 2022
    A Ukrainian serviceman near Oskil village in October 2022
  • Funeral workers carry the coffin of an unidentified civilian who died in the Bucha community during the Russian occupation period in February-March 2022
    Funeral workers carry the coffin of an unidentified civilian who died in the Bucha community during the Russian occupation period in February-March 2022
  • Cadets practise with gas masks in a bomb shelter on the first day of school at a cadet lyceum in Kyiv, Ukraine, in September
    Cadets practise with gas masks in a bomb shelter on the first day of school at a cadet lyceum in Kyiv, Ukraine, in September
  • A young girl with her dog waves goodbye to her grandparents from an evacuation train leaving Pokrovsk in August 2022
    A young girl with her dog waves goodbye to her grandparents from an evacuation train leaving Pokrovsk in August 2022
  • A child looks up at a building destroyed during attacks in Irpin in May 2022
    A child looks up at a building destroyed during attacks in Irpin in May 2022
  • An elderly patient boards a medical evacuation train in Pokrovsk in May 2022
    An elderly patient boards a medical evacuation train in Pokrovsk in May 2022
  • Nila Zelinska holds a doll belonging to her granddaughter that she found in her destroyed house in Potashnya, on the outskirts of Kyiv, in May 2022
    Nila Zelinska holds a doll belonging to her granddaughter that she found in her destroyed house in Potashnya, on the outskirts of Kyiv, in May 2022
  • Residents shelter in the city subway of Kharkiv in May 2022
    Residents shelter in the city subway of Kharkiv in May 2022
  • Destroyed Russian tanks in Bucha, April 2022
    Destroyed Russian tanks in Bucha, April 2022
  • A family fleeing the village of Ruska Lozova in April 2022 arrive in their shrapnel-riddled car at a screening point in Kharkiv
    A family fleeing the village of Ruska Lozova in April 2022 arrive in their shrapnel-riddled car at a screening point in Kharkiv
  • Smoke fills the air after shelling in Odesa in April
    Smoke fills the air after shelling in Odesa in April
  • Yehor, 7, with a wooden toy rifle next to destroyed Russian military vehicles near Chernihiv in April 2022
    Yehor, 7, with a wooden toy rifle next to destroyed Russian military vehicles near Chernihiv in April 2022
  • Security Service of Ukraine servicemen enter a building during an operation to arrest suspected Russian collaborators in Kharkiv in April 2022
    Security Service of Ukraine servicemen enter a building during an operation to arrest suspected Russian collaborators in Kharkiv in April 2022
  • A Ukrainian soldier during a pick-up game of football in Irpin in April 2022
    A Ukrainian soldier during a pick-up game of football in Irpin in April 2022
  • The partially abandoned town of Chernobyl in April 2022
    The partially abandoned town of Chernobyl in April 2022
  • Ruslan Mishanin, 36, bids farewell to his nine-year-old daughter as the train with his family leaves Odesa for Poland in April
    Ruslan Mishanin, 36, bids farewell to his nine-year-old daughter as the train with his family leaves Odesa for Poland in April
  • Halyna Falko, 52, talks to reporters in March 2022 while looking at the destruction caused to her house near Brovary after a Russian attack
    Halyna Falko, 52, talks to reporters in March 2022 while looking at the destruction caused to her house near Brovary after a Russian attack
  • Anti-tank barricades on a street in preparation for a possible Russian offensive in Odesa in March 2022
    Anti-tank barricades on a street in preparation for a possible Russian offensive in Odesa in March 2022
  • A man recovering items from a burning shop after a Russian attack in Kharkiv in March 2022
    A man recovering items from a burning shop after a Russian attack in Kharkiv in March 2022
  • Ukrainians under a destroyed bridge as they as they cross the Irpin river on the outskirts of Kyiv in March 2022
    Ukrainians under a destroyed bridge as they as they cross the Irpin river on the outskirts of Kyiv in March 2022

In Syria, for example, Moscow’s overt role to keep the Assad regime in power has waned. Iran, Damascus’s other ally, is meanwhile putting its “soft diplomacy” to the test after its recent Chinese-brokered rapprochement with Saudi Arabia.

The US’s military build-up in Syria worries Russia. The risk of an aerial clash between American and Russian aircraft and drones is present but not imminent, as both parties are determined to avoid direct confrontation. However, they are also determined to assert their presence in Syrian airspace and on its territory, and the shoring up of American military presence in the country has led Moscow to consider the drawbacks of reducing its military footprint there.

Russian diplomacy is now attempting to reassert itself, as it feels the need to rally sympathetic voices in forums such as the UN. That is why the Russia-Africa summit is important for its government, not only because it was held on Russian soil but also because it sets the stage for the upcoming UN General Assembly in September.

Russia’s promises to its partners in Africa and elsewhere are sincere, but they are likely to collide with a bitter reality – that today, it is unable to provide expansive aid, weaponry and finances to its friends, as it once could, due to western sanctions.

While free grain shipments may provide temporary relief (if they are delivered within the coming months), the repercussions of exiting the Black Sea Grain Initiative, as well as the consequences of the Ukraine conflict, are far more significant than any short-term remedies.

MATCH INFO

Rugby World Cup (all times UAE)

Third-place play-off: New Zealand v Wales, Friday, 1pm

Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar

Mobile phone packages comparison

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.”

 

 

BORDERLANDS

Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis

Director: Eli Roth

Rating: 0/5

The specs: 2018 Ford Mustang GT

Price, base / as tested: Dh204,750 / Dh241,500
Engine: 5.0-litre V8
Gearbox: 10-speed automatic
Power: 460hp @ 7,000rpm
Torque: 569Nm @ 4,600rpm​​​​​​​
​​​​​​​Fuel economy, combined: 10.3L / 100km

The%20specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
'Cheb%20Khaled'
%3Cp%3E%3Cstrong%3EArtist%3A%20%3C%2Fstrong%3EKhaled%3Cbr%3E%3Cstrong%3ELabel%3A%20%3C%2Fstrong%3EBelieve%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

Dates for the diary

To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:

  • September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
  • October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
  • October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
  • November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
  • December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
  • February 2, 2018 Bodytree will host its 4th annual yoga market.
'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.

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

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Eyasses squad

Charlie Preston (captain) – goal shooter/ goalkeeper (Dubai College)

Arushi Holt (vice-captain) – wing defence / centre (Jumeriah English Speaking School)  

Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)

Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)

Jemma Eley – goal attack / wing attack (Dubai College)

Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)

Molly Fuller – goal attack / wing attack (Dubai College)

Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)

Noorulain Hussain – goal defence / wing defence (Dubai College)

Zahra Hussain-Gillani – goal defence / goalkeeper (British School Al Khubairat)

Claire Janssen – goal shooter / goal attack (Jumeriah English Speaking School)         

Eliza Petricola – wing attack / centre (Dubai English Speaking College)

MATCH INFO

What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany

Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)

UAE currency: the story behind the money in your pockets
Tonight's Chat on The National

Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.

Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.

Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

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Winners

Best Men's Player of the Year: Kylian Mbappe (PSG)

Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)

TikTok Fans’ Player of the Year: Robert Lewandowski

Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)

Best Women's Player of the Year: Alexia Putellas (Barcelona)

Best Men's Club of the Year: Chelsea

Best Women's Club of the Year: Barcelona

Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)

Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)

Best Coach of the Year: Roberto Mancini (Italy)

Best National Team of the Year: Italy 

Best Agent of the Year: Federico Pastorello

Best Sporting Director of the Year: Txiki Begiristain (Manchester City)

Player Career Award: Ronaldinho

Updated: July 30, 2023, 2:00 PM