Insight and opinion from The National’s editorial leadership
February 27, 2022
Residents of Kiev, the Ukrainian capital, woke up on Sunday morning to a cacophony of air raid sirens. They have been used a handful of times in recent years, primarily when fighting was at a peak in the Donbas region, more out of caution than imminent threat.
Now, however, the threat is ever-present. On Saturday, a missile struck an apartment block near Kiev’s airport, turning the five-storey building into a crater. The incident resulted in six injuries and highlights the threat to civilian life.
Civilians, increasingly, are being dragged into this conflict, the purpose of which, Moscow claims, is to “demilitarise” Ukraine. That goal has proven counterproductive, as it has resulted in a flood of weapons from western states into Ukrainian territory, as well as record levels of enlistment in Ukraine’s armed forces. Ukraine is arguably more militarised now than it has been in decades.
Videos showing Ukrainians attempting to block Russian tanks with their own bodies illustrate how quickly the lines between the activities of armed forces and civilians can fade, if escalation continues. Over the past seven years, 16,000 people have died in the fighting in Donbas. On Sunday, the UN reported that at least 64 civilians have died in the past week, 24 of them in the first 24 hours of the invasion. These figures have alarmed the international community, including friends of both countries.
Ukrainian President Volodymyr Zelenskyy has removed the upper age limit for men to enlist in the country's military. AFP
Ukraine is arguably more militarised now than it has been in decades
On Friday, at a session of the UN Security Council, Lana Nusseibeh, the UAE’s permanent representative to the UN, expressed “alarm at the consequences for civilians”, and called for an urgent effort to attain a diplomatic solution.
UAE Presidential Adviser Dr Anwar Gargash said on Sunday that “in the Ukrainian crisis, our priority is to encourage all sides to adopt diplomacy and negotiations in order to find a political settlement that can end this crisis”.
He added that “we believe that political solutions and creating balances that enhance security and stability are the best way to confront crises and limit their effects.”
As Ms Nusseibeh further remarked during the Security Council session: “Being from the Middle East, we are intimately aware of the importance of a stable regional security environment, and of de-escalation, diplomacy and dialogue.”
Having been involved in war, diplomacy and peace in the Middle East for many years, Russia will be aware of these lessons, too. Direct, good faith talks between Russian and Ukrainian officials will be the most constructive path forward.
On Sunday evening, Ukrainian officials confirmed that a meeting will take place with their Russian counterparts at an unspecified location on the Belarusian border. The Ukrainian government has, according to reports, agreed to the talks without conditions.
The desire for dialogue provides some reassurance that a cessation of hostilities could be on the horizon. But for that desire to turn into anything meaningful, it must be backed by a real motivation to end this war and find a sustainable peace, whatever it takes.
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
A timeline of the Historical Dictionary of the Arabic Language
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
Men’s singles
Group A: Son Wan-ho (Kor), Lee Chong Wei (Mas), Ng Long Angus (HK), Chen Long (Chn) Group B: Kidambi Srikanth (Ind), Shi Yugi (Chn), Chou Tien Chen (Tpe), Viktor Axelsen (Den)
Women’s Singles
Group A: Akane Yamaguchi (Jpn), Pusarla Sindhu (Ind), Sayaka Sato (Jpn), He Bingjiao (Chn) Group B: Tai Tzu Ying (Tpe), Sung Hi-hyun (Kor), Ratchanok Intanon (Tha), Chen Yufei (Chn)
MATCH INFO
Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium, Malayisa
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
Favourite breed of dog: All of them. I can’t possibly pick a favourite.
Favourite place in the UAE: The Stray Dogs Centre in Umm Al Quwain. It sounds predictable, but it honestly is my favourite place to spend time. Surrounded by hundreds of dogs that love you - what could possibly be better than that?
Favourite colour: All the colours that dogs come in
UAE players with central contracts
Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.