• Russian President Vladimir Putin signs documents recognising two breakaway regions in eastern Ukraine as independent. AFP
    Russian President Vladimir Putin signs documents recognising two breakaway regions in eastern Ukraine as independent. AFP
  • A Ukrainian soldier walks past fragments of a mortar shell amid fighting near the front line in Travneve, Donetsk region. Reuters
    A Ukrainian soldier walks past fragments of a mortar shell amid fighting near the front line in Travneve, Donetsk region. Reuters
  • People wave Russian flags while celebrating Moscow's recognition of the self-proclaimed republic's independence, in Donetsk. AP
    People wave Russian flags while celebrating Moscow's recognition of the self-proclaimed republic's independence, in Donetsk. AP
  • Protesters gather at the Ukrainian Foreign Ministry in Kiev, calling on the EU to impose additional sanctions against Russia. Getty Images
    Protesters gather at the Ukrainian Foreign Ministry in Kiev, calling on the EU to impose additional sanctions against Russia. Getty Images
  • Members of the security forces walk in an underpass at a railway station in Kiev. Getty Images
    Members of the security forces walk in an underpass at a railway station in Kiev. Getty Images
  • A Ukrainian soldier on the front line near the village of Travneve, in Donetsk. Reuters
    A Ukrainian soldier on the front line near the village of Travneve, in Donetsk. Reuters
  • Alisa, 38, a media relations specialist, takes part in a combat skills training for civilians near Kiev. Reuters
    Alisa, 38, a media relations specialist, takes part in a combat skills training for civilians near Kiev. Reuters
  • Alisa poses with a gun at her home near Kiev. Reuters
    Alisa poses with a gun at her home near Kiev. Reuters
  • A young girl takes part in a rally in defence of 'Ukraine, Europe and democratic values', organised by the Association of Ukrainians in Portugal, outside the Russian Consulate in Porto, Portugal. EPA
    A young girl takes part in a rally in defence of 'Ukraine, Europe and democratic values', organised by the Association of Ukrainians in Portugal, outside the Russian Consulate in Porto, Portugal. EPA
  • A Ukrainian soldier takes time out to play with dogs on the front line near the city of Novoluhanske, in Donetsk. Reuters
    A Ukrainian soldier takes time out to play with dogs on the front line near the city of Novoluhanske, in Donetsk. Reuters
  • People gather under the Ukrainian flag for a Day of Solidarity with Ukraine at the Lincoln Memorial in Washington, DC. AFP
    People gather under the Ukrainian flag for a Day of Solidarity with Ukraine at the Lincoln Memorial in Washington, DC. AFP
  • Residents of the self-proclaimed Donetsk People's Republic cross from Ukraine into Russia, after it was announced that women and children would be led to the Rostov region due to rising tension in the area. EPA
    Residents of the self-proclaimed Donetsk People's Republic cross from Ukraine into Russia, after it was announced that women and children would be led to the Rostov region due to rising tension in the area. EPA
  • After the evacuation of separatist-controlled regions of eastern Ukraine, people complete documents in a temporary accommodation centre in Rostov, Russia. Reuters
    After the evacuation of separatist-controlled regions of eastern Ukraine, people complete documents in a temporary accommodation centre in Rostov, Russia. Reuters
  • War veterans and volunteers train civilians in handling weapons on one of Kiev's city beaches. AFP
    War veterans and volunteers train civilians in handling weapons on one of Kiev's city beaches. AFP
  • Russian and Belarusian helicopters taking part in a joint military exercise of the allied countries’ armed forces. EPA
    Russian and Belarusian helicopters taking part in a joint military exercise of the allied countries’ armed forces. EPA
  • Ukrainian National Guard soldiers at a mobile checkpoint together with the Ukrainian Security Service agents and police officers during a joint operation in Kharkiv, Ukraine. AP
    Ukrainian National Guard soldiers at a mobile checkpoint together with the Ukrainian Security Service agents and police officers during a joint operation in Kharkiv, Ukraine. AP
  • US President Joe Biden delivers a national update on the situation at the Russia-Ukraine border at the White House in Washington, DC. AFP
    US President Joe Biden delivers a national update on the situation at the Russia-Ukraine border at the White House in Washington, DC. AFP
  • A Polish soldier uses his phone, as US Defence Secretary Lloyd Austin and Polish Defence Minister Mariusz Blaszczak visit the Air Base in Powidz, Poland. Reuters
    A Polish soldier uses his phone, as US Defence Secretary Lloyd Austin and Polish Defence Minister Mariusz Blaszczak visit the Air Base in Powidz, Poland. Reuters
  • Mr Austin, left, addresses US troops stationed at the Powidz Air Base in Poland. AP Photo
    Mr Austin, left, addresses US troops stationed at the Powidz Air Base in Poland. AP Photo
  • A woman walks to board a bus, arranged to evacuate local residents, in the rebel-controlled city of Donetsk, Ukraine. Reuters
    A woman walks to board a bus, arranged to evacuate local residents, in the rebel-controlled city of Donetsk, Ukraine. Reuters
  • A satellite image shows an overview of helicopter deployments near Lake Donuzlav in Crimea, Ukraine. Reuters
    A satellite image shows an overview of helicopter deployments near Lake Donuzlav in Crimea, Ukraine. Reuters
  • A Ukrainian Military Forces serviceman looks through a spyglass on the front line with Russia-backed separatists not far from Novolugansk in the Donetsk region. AFP
    A Ukrainian Military Forces serviceman looks through a spyglass on the front line with Russia-backed separatists not far from Novolugansk in the Donetsk region. AFP
  • A serviceman keeps position on the front line. AFP
    A serviceman keeps position on the front line. AFP
  • A Ukrainian frontier guard patrols along the border with Russia, some 40km from the city of Kharkiv. AFP
    A Ukrainian frontier guard patrols along the border with Russia, some 40km from the city of Kharkiv. AFP
  • US President Joe Biden speaks to the media about Russia's buildup on the Ukrainian border as he leaves the White House in Washington. EPA
    US President Joe Biden speaks to the media about Russia's buildup on the Ukrainian border as he leaves the White House in Washington. EPA
  • A Ukrainian frontier guard stands at a check point. AFP
    A Ukrainian frontier guard stands at a check point. AFP
  • Russian Foreign Minister Sergey Lavrov and his Italian counterpart Luigi Di Maio enter a hall during a meeting in Moscow. Reuters
    Russian Foreign Minister Sergey Lavrov and his Italian counterpart Luigi Di Maio enter a hall during a meeting in Moscow. Reuters
  • US Secretary of State Antony Blinken addresses the United Nations Security Council. AP Photo
    US Secretary of State Antony Blinken addresses the United Nations Security Council. AP Photo
  • An elderly lady walks by as members of the Joint Centre for Control and Co-ordination survey damage to a house from artillery shell that landed in Vrubivka, eastern Ukraine. AP Photo
    An elderly lady walks by as members of the Joint Centre for Control and Co-ordination survey damage to a house from artillery shell that landed in Vrubivka, eastern Ukraine. AP Photo
  • French President Emmanuel Macron arrives for an extraordinary meeting of EU leaders to discuss Ukraine at the European Council building in Brussels. AP Photo
    French President Emmanuel Macron arrives for an extraordinary meeting of EU leaders to discuss Ukraine at the European Council building in Brussels. AP Photo
  • A local resident boards a train at a suburban area of Kiev. Reuters
    A local resident boards a train at a suburban area of Kiev. Reuters
  • A woman stands among debris after the reported shelling of a nursery in the settlement of Stanytsia Luhanska, Ukraine. AFP
    A woman stands among debris after the reported shelling of a nursery in the settlement of Stanytsia Luhanska, Ukraine. AFP
  • A protester shouts slogans during a demonstration outside the Ukrainian parliament in Kiev against high government taxes. AFP
    A protester shouts slogans during a demonstration outside the Ukrainian parliament in Kiev against high government taxes. AFP
  • A member of the 82nd Airborne Division of the US Army rests ahead of deployment to Poland from Fort Bragg in the US. AP Photo
    A member of the 82nd Airborne Division of the US Army rests ahead of deployment to Poland from Fort Bragg in the US. AP Photo
  • Members of the 82nd Airborne Division of the US Army clean weaponry ahead of deployment to Poland. AP Photo
    Members of the 82nd Airborne Division of the US Army clean weaponry ahead of deployment to Poland. AP Photo

Ukrainians in the UAE fear for families as threat of Russian invasion grows


Kelly Clarke
  • English
  • Arabic

As fears grow that Russian troops will invade Ukraine, Ukrainian residents in the UAE say they are preparing for the worst.

Olena Zintchenko said her family in Kiev have been putting money aside and are buying non-perishable food, just in case.

Ms Zintchenko, 34, speaks to her parents by daily video calls. They say the mood in their neighbourhood is sobering, but they are trying to get on with life as normal.

“All my family is in Kiev and we are in touch every day,” said Ms Zintchenko, a business owner in Dubai.

My family have a plan in place if a full-scale invasion occurs. They keep bags packed with basic stuff, documents, cash and will be able to leave Kharkiv by car
Olena Kalych,
a resident in Abu Dhabi

“The mood, obviously, is nervous. But they are trying to live their lives while at the same time preparing for the worst scenario. They have refused to leave home.

“They have full [fuel] tanks, shelter in our basement and plenty of food stored.”

Eight years ago, Ms Zintchenko regularly heard stories of people dying on the war front in Donbas, a region south-east of Ukraine held by pro-Russian separatists.

Now, she fears the same will happen if Russian troops enter her country.

“[This] may lead to a big war in the middle of Europe in the 21st century, which is incredibly horrifying,” she said.

“I still believe in the power of diplomacy, but before World War Two diplomacy was also strong, and unfortunately, it did not prevent the war.”

Olena Zintchenko, from Ukraine, says her family back home have been putting money aside and buying long-lasting food in case war breaks out.
Olena Zintchenko, from Ukraine, says her family back home have been putting money aside and buying long-lasting food in case war breaks out.

Olena Kalych, a resident in Abu Dhabi, comes from Kharkiv, a city that borders the Donbas region where there are two breakaway pro-Russian states.

She said being abroad at this critical time makes her extremely worried, but also proud of how the Ukrainian people are handling the threat.

“My family still lives in Kharkiv and as of now they are living life as normal, or as normal as you can in the circumstances,” she said.

“However, they do have a plan in place if a full-scale invasion occurs. They keep bags packed with basic stuff, documents, cash and will be able to leave Kharkiv by car.

“Once my father and brother ensure that the other family members are safe in the west of Ukraine, they intend to return to Kharkiv and join the military forces, as they are already trained and skilled respectively.”

Over the past several months, Russia has amassed an estimated 100,000 troops along its border with Ukraine.

The US has responded by sending several thousand troops to two of Ukraine’s neighbouring countries, Poland and Romania.

High-level talks between delegations from Ukraine, Russia, Europe and the US have failed to ease tensions, and while Moscow says it has no plans to invade, Washington and its allies insist that is likely to happen.

Russian President Vladimir Putin has issued security demands to the US before he draws his military forces back, including a ban on Ukraine joining Nato and an agreement that Nato will remove troops and weapons across much of Eastern Europe.

Yevheniy Semenov, who has lived in the UAE for eight years, said almost all his family is currently located in Chernivtsi, a city in western Ukraine.

“According to [my family] the mood is very calm in the city. At the same time, Ukrainians are getting ready for in case war resumes,” Mr Semenov, 28, said.

“A lot of people are looking for firearm ownership permits. My mum, who works in school, told me they’re exercising emergency evacuations for their pupils, too.

“My family has prepared their emergency suitcases but they’re not planning to leave the country.”

While being far away from his family is worrying, Mr Semenov said he takes some solace knowing that Ukrainian diplomats, their western allies and Ukrainian diaspora around the world are doing their best to avoid any escalation.

The second largest Ukrainian city of Kharkiv is located some 40km from the Ukrainian-Russian border. AFP
The second largest Ukrainian city of Kharkiv is located some 40km from the Ukrainian-Russian border. AFP

“During the past eight years, many cases of Russian units’ presence were detected in Ukraine,” he said.

“The potential escalation may become just a renewal of invasion. As of now, [the threat] looks more like a way of trying to make the people in Ukraine and around the world panic.”

Stephen Maclaren, a British insurance broker in Dubai, said he is concerned about his wife and son, who both have Ukrainian passports and are living in Russia.

“My wife’s mother lives in Ukraine and she is due to visit her next month, while my son comes to Dubai to stay with me for a visit,” he said.

“It is a big worry for us what is happening there.

“If conflict does escalate, the concern is my son may have difficulty getting back into Russia after visiting me in Dubai.

“They are both trying to get permanent residency status in Russia but it takes time. If there is a war on, that could become even more challenging so it could be a huge issue for them.”

Being away from family is stressful at the best of times, but Mr Maclaren said if tensions continue to escalate it will become more difficult.

With inputs from Nick Webster

Ukraine citizens brace for potential war: in pictures

  • Lidia, 92, a Ukrainian who has lived here during the time of the conflict, stands at the entrance to her house in the territory controlled by pro-Russian militants, near the front line with Ukrainian government forces in Luhansk, Ukraine. AP
    Lidia, 92, a Ukrainian who has lived here during the time of the conflict, stands at the entrance to her house in the territory controlled by pro-Russian militants, near the front line with Ukrainian government forces in Luhansk, Ukraine. AP
  • Olga Matvienko, an inspector at the migration service office, in Donetsk, Ukraine, says the number of people applying for Russian passports has increased in recent weeks. AP
    Olga Matvienko, an inspector at the migration service office, in Donetsk, Ukraine, says the number of people applying for Russian passports has increased in recent weeks. AP
  • Valentyna Konstantynovska, 79, is taught to use a weapon during training for civilians, organised by the Azov Special Forces Unit of Ukraine's National Guard, in Donetsk. AP
    Valentyna Konstantynovska, 79, is taught to use a weapon during training for civilians, organised by the Azov Special Forces Unit of Ukraine's National Guard, in Donetsk. AP
  • Ukrainian pensioner Lidiya Silina, 87, at her house near the border between Belarus and Ukraine. Russia has stationed troops in Belarus in recent weeks. AFP
    Ukrainian pensioner Lidiya Silina, 87, at her house near the border between Belarus and Ukraine. Russia has stationed troops in Belarus in recent weeks. AFP
  • Ukrainian teenagers dig trenches for soldiers facing off with Russian-backed separatists, in the Mariupol region. AFP
    Ukrainian teenagers dig trenches for soldiers facing off with Russian-backed separatists, in the Mariupol region. AFP
  • A young woman handles a weapon during basic combat training for civilians, in Mariupol. AP
    A young woman handles a weapon during basic combat training for civilians, in Mariupol. AP
  • A small child struggles to remove ammunition from a clip during a basic combat training for civilians, in Mariupol. AP
    A small child struggles to remove ammunition from a clip during a basic combat training for civilians, in Mariupol. AP
  • Civilians are being trained in Mariupol, where President Volodymyr Zelensky travelled to mark what he had declared Ukraine's 'Day of Unity'. AP
    Civilians are being trained in Mariupol, where President Volodymyr Zelensky travelled to mark what he had declared Ukraine's 'Day of Unity'. AP
  • A plane set as a monument to a former military base near the Three Sisters border crossing between, Ukraine, Russia and Belarus, in Senkivka, Ukraine. Getty Images
    A plane set as a monument to a former military base near the Three Sisters border crossing between, Ukraine, Russia and Belarus, in Senkivka, Ukraine. Getty Images
  • A military instructor teaches a schoolboy to shoot with Kalashnikov rifles, during a training session in Lviv. AFP
    A military instructor teaches a schoolboy to shoot with Kalashnikov rifles, during a training session in Lviv. AFP
  • A salesperson works in a grocery store in Orlivka. Tensions with Russia have hit the economy hard, Ukrainian authorities say. Getty Images
    A salesperson works in a grocery store in Orlivka. Tensions with Russia have hit the economy hard, Ukrainian authorities say. Getty Images
  • A child on a swing with his grandmother in Prymorsk, Ukraine, as Russian forces conduct large-scale military exercises in Belarus, across the border. Getty Images
    A child on a swing with his grandmother in Prymorsk, Ukraine, as Russian forces conduct large-scale military exercises in Belarus, across the border. Getty Images
  • Pensioner Viktor collects firewood in Novokostyantynivka. European natural gas prices surged as the US rejected Russia’s claims that it was pulling back troops. Getty Images
    Pensioner Viktor collects firewood in Novokostyantynivka. European natural gas prices surged as the US rejected Russia’s claims that it was pulling back troops. Getty Images
  • A fisherman tests his new fishing rod on a beach in Prymorsk, Ukraine. Getty Images
    A fisherman tests his new fishing rod on a beach in Prymorsk, Ukraine. Getty Images
  • A customer in a barber shop in Kiev. Bloomberg
    A customer in a barber shop in Kiev. Bloomberg
  • Passengers travel on a train in Kiev. Ukrainians have gone back to work, but are “not naive to the fact of how serious the situation is”, reports say. Bloomberg
    Passengers travel on a train in Kiev. Ukrainians have gone back to work, but are “not naive to the fact of how serious the situation is”, reports say. Bloomberg
  • Shoppers in a supermarket in Kiev. Bloomberg
    Shoppers in a supermarket in Kiev. Bloomberg
  • A large street mural in Kiev. Getty Images
    A large street mural in Kiev. Getty Images
  • A woman walks past a vendor on a street in the Ukrainian capital. Getty Images
    A woman walks past a vendor on a street in the Ukrainian capital. Getty Images
  • Ania, 67, a Ukrainian, gestures on the pedestrian border cross in Medyka, south-east Poland. AFP
    Ania, 67, a Ukrainian, gestures on the pedestrian border cross in Medyka, south-east Poland. AFP
  • A skateboarder performs a trick behind a mural of poet and activist Vasyl Stus, in Kiev. Getty Images
    A skateboarder performs a trick behind a mural of poet and activist Vasyl Stus, in Kiev. Getty Images
  • A woman gets her hair done at a beauty salon in Kiev. Getty Images
    A woman gets her hair done at a beauty salon in Kiev. Getty Images
  • A man works out at Kiev's popular outdoor gym. Getty Images
    A man works out at Kiev's popular outdoor gym. Getty Images
  • A woman works in a gun shop in the capital. Getty Images
    A woman works in a gun shop in the capital. Getty Images
THE SPECS

      

 

Engine: 1.5-litre

 

Transmission: 6-speed automatic

 

Power: 110 horsepower 

 

Torque: 147Nm 

 

Price: From Dh59,700 

 

On sale: now  

 
Unresolved crisis

Russia and Ukraine have been locked in a bitter conflict since 2014, when Ukraine’s Kremlin-friendly president was ousted, Moscow annexed Crimea and then backed a separatist insurgency in the east.

Fighting between the Russia-backed rebels and Ukrainian forces has killed more than 14,000 people. In 2015, France and Germany helped broker a peace deal, known as the Minsk agreements, that ended large-scale hostilities but failed to bring a political settlement of the conflict.

The Kremlin has repeatedly accused Kiev of sabotaging the deal, and Ukrainian officials in recent weeks said that implementing it in full would hurt Ukraine.

LIVERPOOL%20TOP%20SCORERS
%3Cp%3E(Premier%20League%20only)%3Cbr%3EMohamed%20Salah%20129%3Cbr%3ERobbie%20Fowler%20128%3Cbr%3ESteven%20Gerrard%20120%3Cbr%3EMichael%20Owen%20118%3Cbr%3ESadio%20Mane%2090%3Cbr%3E%3C%2Fp%3E%0A
Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Defending champions

World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

TOURNAMENT INFO

Women’s World Twenty20 Qualifier

Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November

UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi

Teachers' pay - what you need to know

Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

The 12 Syrian entities delisted by UK 

Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV

UK's plans to cut net migration

Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.

Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.

But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.

Language requirements will be increased for all immigration routes to ensure a higher level of English.

Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.

The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.

'Munich: The Edge of War'

Director: Christian Schwochow

Starring: George MacKay, Jannis Niewohner, Jeremy Irons

Rating: 3/5

The specs
Engine: 2.5-litre, turbocharged 5-cylinder

Transmission: seven-speed auto

Power: 400hp

Torque: 500Nm

Price: Dh300,000 (estimate)

On sale: 2022 

The drill

Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.

Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”

Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”

Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.” 

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds  

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

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.”

Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara

If you go

The flights

The closest international airport for those travelling from the UAE is Denver, Colorado. British Airways (www.ba.com) flies from the UAE via London from Dh3,700 return, including taxes. From there, transfers can be arranged to the ranch or it’s a seven-hour drive. Alternatively, take an internal flight to the counties of Cody, Casper, or Billings

The stay

Red Reflet offers a series of packages, with prices varying depending on season. All meals and activities are included, with prices starting from US$2,218 (Dh7,150) per person for a minimum stay of three nights, including taxes. For more information, visit red-reflet-ranch.net.

 

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

Dunki
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Rajkumar%20Hirani%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Shah%20Rukh%20Khan%2C%20Taapsee%20Pannu%2C%20Vikram%20Kochhar%20and%20Anil%20Grover%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

Updated: February 22, 2022, 3:47 AM