Live updates: follow the latest news on Russia-Ukraine
Russia is losing scores of tanks with Ukraine's military developing a range of new tactics that include grenade-dropping drones, military analysts told The National.
An estimated 64 main battle tanks and 37 armoured fighting vehicles have been destroyed by a range of weapons, but in particular British-supplied modern anti-tank weapons.
Military experts are also baffled by the “brazen” Russian tactics in which tank commanders advance without infantry or artillery support, making them highly vulnerable to ambushes.
“The Russians have lost every single type of tank so far bar the T-90M, which is the most modern tank in service,” said Sam Cranny-Evans of Rusi, a defence and security think tank. “From the Russian perspective, that means some of their most capable and elite formations have been caught up in the fighting and suffered losses.”
The huge 64-kilometre armoured column, stalled for over a week outside Kyiv amid food and fuel shortages and attacks by Ukrainian troops, has been seen on the move again. New satellite photos appeared to show the massive Russian convoy outside the Ukrainian capital had fanned out. The purpose of the latest move was unclear, though Russia is widely expected eventually to try to encircle the capital.
Britain’s Ministry of Defense said that after making “limited progress,” Russian forces were trying to “re-set and re-posture” their troops, gearing up for operations against Kyiv.
Ukraine ambush
The Ukrainian army has rapidly evolved its tactics to take out tanks driving along motorways or into towns or villages.
Tank commanders with their hatches battened down have limited visibility, although they do have excellent optical devices supplied by the French. To draw their attention, Ukraine infantry open up with their assault rifles from one side of road. As the tanks swivel towards them, infantry equipped with anti-tank weapons open fire from the other side, usually directly into the vulnerable rear.
It has also been reported – without verification – that the Ukrainians have equipped small drones with hand grenades that they then drop into open turrets, killing tank commanders. This would in part explain why small cages have been built over some hatches to deflect the grenade.
Modern anti-tank weaponry
The British New Light Anti-Tank Weapon (NLAW) is proving critical in the fight against Russian armour and has been described by experts as “revolutionary” in tracking moving vehicles. At least 2,000 have been sent to Ukraine.
It is the only anti-tank missile in the world that has an inbuilt fire-control computer that can track a moving vehicle and remain locked on to it, making a hit highly likely.
The NLAW, like the Javelin missiles, has a top-down attack whereby the missile first flies up then directly down on to a vehicle's thinner upper armour.
Tanks with the tops blown off are usually victims of this attack because the ammunition is stored in the turret area and will “cook off”.
Russian defences
Every Russian tank is festooned with small, box-like explosive reactive armour (ERA), which detonates when struck by a missile, preventing penetration.
But the NLAW and Javelin missiles and, it is understood, the Ukraine-made Skif and Stugna-P anti-tank missiles, have tandem warheads, where the first explosion takes out the ERA and the second penetrates the armour.
To protect the vulnerable turret armour, soldiers have devised a pergola structure in the hope that it will detonate or deflect incoming missiles.
“They have basically mounted what looks like a metal garden pergola designed to reduce the effectiveness of a top-attack weapon,” said retired Brigadier Ben Barry, a former tank commander.
There are also suggestions that the older Russian vehicles, such as the T-64s and T-80s, might have ERA that is out of date, either not being replaced or through corruption.
“When the Ukrainians were losing tanks they found that the ERA was out of shelf life, it was just too old,” said Christopher Foss, an armoured expert formerly at Janes Defence Weekly. “It could be that on some Russian tanks it is simply out of date.”
Worse, none of the Russian armoured personnel carriers – the BDRM or BMP models – are equipped with extra armour for increased protection. This means that they are vulnerable to even heavy 12.7mm machine-gun fire.
Russian tactics
Artillery, in the view of Russian commanders, is the God of War. Their army has huge numbers of tracked and towed guns that, in combined arms warfare, are supposed to support infantry and armour.
But it appears that the strategy now is to surround the major Ukraine cities and use the artillery to bombard them into submission.
This has led to Russian armoured columns driving straight into towns without the proper support.
“The first thing a well-trained British or US battle group would almost certainly not do is brazenly drive through towns, but would put out the infantry to chase away any Ukrainian infantry,” said Brig Barry, of the IISS think tank. “Secondly, when the ambush strikes, what you don't seem to see is the infantry getting out of their armoured vehicles to chase off the Ukrainian infantry. You also don’t see them bringing down mortar artillery fire for support.”
Urban armour
The 60km long armoured column that has been stationary outside Kyiv for more than a week now appears to be finally on the move. It is likely to form the main force used to encircle the capital before an artillery bombardment commences.
But it will certainly be ambushed in the woods, villages and roads as it tries to move into place. If it attempts to move into the urban outskirts of Kyiv it will face difficulties.
While the traditional RPG weapon gives a severe back-blast, rendering it unusable for ambushes from enclosed spaces, such as an apartment, the NLAW does not, making it ideal to shoot straight down on to Russian armour.
It has also been reported that the well-regarded 1st Tank Army were expected to attack Kyiv but have been instead committed around Sumy and Kharkiv in the east. The unit is seen as having the most combat experience and the best equipped.
Fuel
There could well be issues soon over fuel supplies for tanks. Footage seen by The National showed a convoy of fuel tankers in eastern Ukraine with eight vehicles burnt out.
The Russian T-80 tanks run on a form of jet fuel while the T-90s and T-72s need diesel, although the latter possibly have multi-fuel tanks.
But the cold weather also poses a problem, with the Russians running their tanks for warmth and to charge batteries using up fuel as, unlike British or American vehicles, they do not have auxiliary power units.
However, the Russians are likely to forage from Ukraine’s fuel stations or dumps.
Losses
The Russians have lost a significant number of supply vehicles, including dozens of the precious fuel tankers and their crews, who do not have the armoured cab protection that most Nato trucks have.
The Oryx military website puts total Russian vehicle losses at 1,034, with 424 destroyed, 13 damaged, 159 abandoned and 43 captured.
Russia has lost an estimated 173 main battle tanks and 106 armoured fighting vehicles – with some abandoned or captured – but the military has an estimated total of more than 6,000, with many in warehouses across Russia. But there is also the problem of finding experienced tank crews to replace those soldiers killed.
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
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Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
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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.”
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Ultra processed foods
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- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
UAE currency: the story behind the money in your pockets
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Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae